Dubai is very enthusiastic about the future of artificial intelligence, helping to develop an ecosystem to promote innovative solutions – from smart city infrastructure to artificial intelligence, Blockchain systems and fintech.
Research and Development Center
Dubai is a future of artificial intelligence, robotics and fintech. The emirate has many programs and initiatives to support start-ups, including an extensive network of business incubators and accelerators that make Dubai a premier hub for innovation. In addition, the city ranks first in the world in terms of foreign direct investment (FDI) and scientific and technological exchange in the high-tech sector, including robotics and AI technology.
The Government of Dubai is committed to developing an enabling environment for promoting innovative business models. The city has established regulatory sandboxes and pilot platforms to allow companies to test products and services before going to market. In addition, Dubai offers ample opportunities for marketing, and its proximity to the industrial centers in Asia allows entrepreneurs to easily and quickly set up production.
Leading Industry Centers For A Brighter Future Of Artificial Intelligence
Dubai International Finance Center (DIFC) is one of the largest financial centers in the Middle East, Africa and Southeast Asia (MEASA). The FEZ promotes the development of trade and investment activities in the region.
Today, more than 2,400 companies from various industries are registered in DIFC, whose activities are controlled by an independent financial regulator. In addition, one of the world’s best platforms for the sustainable development of the venture capital and fintech sector has been created in the SEZ.
Dubai Silicon Oasis Authority (DSOA) is a free economic zone with an integrated technology park. The SEZ provides support to companies engaged in the development of smart solutions using new artificial intelligence technology and Blockchain. DSOA implements various tools to create a single transparent and secure integrated environment.
Among the main tasks of the FEZ is assistance in the implementation of the intellectual initiatives of the emirate and the development of the global Islamic economy. These all make UAE the future of artificial intelligence.
Connected infrastructure and IoT
Thanks to the development of 5G mobile communications, there has been a sharp jump in the field of smart devices and machine-to-machine communication, and transport has been connected to telecommunications networks. Dubai’s Internet of Things (IoT) strategy continues to evolve. It is expected that as 5G networks are deployed in the next few years, the percentage of use of smart devices connected to the TCS will increase significantly in the country.
Smart Dubai is implementing the ambitious Dubai Data project, in which the government collects detailed data on various areas of activity and aspects of life within the emirate. Dubai Data makes this information available to authorities and potential partners. The aim of the project is to use data on energy consumption, the movement of people around the city, food consumption, etc. to solve pressing problems and improve the quality of life in Dubai.
According to the state strategy Dubai Blockchain Strategy, very soon Dubai should become the first city in the world to use Blockchain technology for all operations. The transition to electronic document processing will benefit all industries and save the emirate 25.1 million man-hours or $1.5 billion per year.
The desire to become the first country in which all financial transactions will be carried out using Blockchain technology contributes to its further growth and development. As part of the Smart Bourse strategy, investors actively support projects related to financial technologies: the eIPO Platform, the iVESTOR Card for cash dividends, the Efsah system for information disclosure in the stock market, the eSAR report for shareholder analysis and others.
Rise Of Artificial intelligence In UAE
In 2017, Dubai initiated the use of artificial intelligence strategy for the development of artificial intelligence technologies. This involves its introduction into the main sectors of the economy, including:
- Transport: to reduce the number of accidents and reduce the number of costs
- Health care: to reduce the number of chronic and dangerous diseases.
- Space sphere: to conduct advanced experimental activities and reduce the number of errors.
- Renewable energy sources: to manage the potential of the industry.
- Water resources: for analysis and research of existing sources.
- Technology: to increase productivity and reduce costs.
- Education: to increase demand for educational services while reducing costs.
As part of the Dubai Autonomous Transportation Strategy, the emirate intends to implement ambitious plans. By 2030, 25% of vehicles in Dubai are expected to be autonomous.
According to the Vehicle Readiness Index report, the UAE is the future of artificial intelligence among the top ten countries in the world ready for the introduction of unmanned vehicle technologies.
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Dubai was included in the top ten best cities in the world to live in the World’s Best Cities 2020 ranking and the future of artificial intelligence. Dubai was also named the best city in the Middle East and North Africa region.
In addition, Dubai actively supports innovation in a variety of sectors of the economy. More than 160 fintech companies are currently registered with DIFC. They can enjoy all the benefits of SEZs, including efficient structuring, access to finance, and networks of business accelerators.