DIFC’s ambitious plan for Dubai AI & Web 3.0 Campus to attract 500+ companies

New initiative to bring $300 million in collective funds
DIFC’s ambitious plan for Dubai AI & Web 3.0 Campus to attract 500+ companies

DIFC, the Dubai International Financial Centre (DIFC), which is the top financial center in the Middle East, Africa, and South Asia (MEASA) region, has revealed plans to construct the ‘Dubai AI & Web 3.0 Campus’ – the MENA region’s most significant group of Artificial Intelligence and technology businesses. This project was initiated under the orders of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, who serves as the First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance of the UAE, and President of DIFC.

The ‘Dubai AI & Web 3.0 Campus’ will be situated within the DIFC Innovation One premise and is set to expand into a campus covering more than 100,000 sq. ft. over the next five years. The primary focus of the campus will be on implementing AI and Web 3.0 within the financial services sector. This project aims to cultivate a community of tech pioneers, innovators, and engineers who are enthusiastic about emerging technologies. With state-of-the-art physical and digital infrastructure, including R&D centers, accelerator programs, and collaborative workspaces, the ‘Dubai AI & Web 3.0 Campus’ is designed to attract, develop, and scale AI companies on a global scale.

Read more: DIFC enticing finance titans to tap into regional wealth

According to His Excellency Essa Kazim, the Governor of DIFC, the 2030 strategy of DIFC plays a crucial role in shaping the future of finance and innovation. He stated that the integration of AI in the UAE economy is anticipated to infuse AED103 billion by 2035 and contribute 14 percent to the country’s GDP by the end of this decade. The proposed ‘Dubai AI & Web 3.0 Campus’ will serve as a global center for R&D, investment, and innovation and will attract over $300 million in collective funds, along with 500+ global AI and Web 3.0 start-ups. Furthermore, it is expected to create 3000+ employment opportunities by the year 2028, thereby significantly contributing to the growth of the UAE economy.

For his part, Arif Amiri, the Chief Executive Officer of DIFC Authority, DIFC recognizes the importance of being at the forefront of technological innovation and AI development to pave the way for a digital future of finance. The proposed ‘Dubai AI & Web 3.0 Campus’ is expected to act as a catalyst for growth by drawing in global innovators, start-ups, venture capitalists, and industry leaders, added Amiri.

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