Dubai to establish first integrated centre to attract artificial intelligence companies

Gulf Today Report

Informed sources revealed Dubai's intention to establish the first specialised and integrated centre to attract international companies and institutions dealing in artificial intelligence technologies and applications, and crystallise it as a promising industry and a sector of great importance at the level of the UAE and the region.

The sources indicated that the Dubai Multi Commodities Centre (DMCC) will be the headquarters and destination for new emerging companies in the technology and artificial intelligence sector, which are looking for new markets for them in the region, supported by the system of laws, legislation and facilities provided by the emirate to foreign investors, as well as the digital and technological infrastructure that characterises Dubai and made it among the most technologically advanced cities.
 
The sources added that the new centre is expected to be inaugurated in DMCC within the next few weeks, noting that the opening of the centre may take place during the second half of this year.

The UAE is promoting its strategy for artificial intelligence 2031, digital transformation and empowerment of individuals and entities.
 
Virtual and augmented reality, artificial intelligence and metaverse technologies contribute to providing about 6,700 jobs and about $500 million in the UAE economy at present, and their economic contribution can significantly increase in the future.
 
The Dubai Multi Commodities Centre, which is distinguished as one of the free zones in the emirate and the authority of the Dubai government concerned with the trade of goods and projects, succeeded in attracting 3,049 new companies to Dubai during the past year 2022.

With the number increasing by 23% on an annual basis, the centre has broken the record. The previous record was in 2021, when 2,485 new companies were registered at that time. The centre also succeeded in attracting 708 new companies during the first quarter of 2023, bringing the number of companies joining the centre to 23,000.
 
The centre has taken upon itself to attract major international companies specialised in specific business and trade scopes, from agricultural commodities such as coffee, tea and cocoa, to major gold and diamond companies, as well as companies operating in encrypted assets and digital currencies.

It also strives to attract companies operating in modern technology, fintech and others and from different nationalities and countries.
 
Promising strategy
 
The UAE strategy for artificial intelligence aims to achieve the goals of the UAE Centennial 2071, accelerate the implementation of development programmes and projects to reach the future, rely on artificial intelligence in services and data analysis at a rate of 100% by 2031, improve government performance, accelerate achievement and create innovative work environments, to be the first UAE government In the world in investing in artificial intelligence in its various vital sectors, creating a new promising market in the region with high economic value.
 
In October 2017, the UAE government launched the UAE Strategy for Artificial Intelligence (AI), and this initiative represents the new stage after the smart government, on which services, sectors, and future infrastructure will depend in the country in line with the UAE Centennial 2071, which seeks to be the best in the world in all fields.
 
Targeted sectors
 
The UAE strategy for artificial intelligence targets several vital sectors in the country, including the transport sector by reducing accidents and operational costs, the health sector by reducing the percentage of chronic and serious diseases, the space sector by conducting accurate experiments and reducing the rates of costly errors, and the renewable energy sector through facility management and smart consumption, and the water sector by conducting accurate analysis and studies to provide resources.