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Dubai Establishes $272 Million Future District Fund To Attract Tech Companies

Digital companies relocating to Dubai’s Future District get to enjoy a number of benefits, including access to a large pool of entrepreneurial talent and hyper-connected infrastructure.

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dubai establishes $272 million future district fund to attract tech companies
Dubai Future District

To establish 1,000 digital companies in the Dubai Future District (DFD) over the next five years, Dubai has recently launched a AED 1 billion fund ($272.3 million), called the Dubai Future District Fund, encouraging companies to list in the Dubai Financial Markets and stock exchange.

The fund is an initiative of the Dubai Securities and Exchange Higher Committee, and it reflects the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE and Ruler of Dubai.

“The Dubai Future District Fund supports national efforts and strategies aimed at enabling entrepreneurs to reach new horizons, realize Dubai’s aspirations for the new economy, and contribute to enhancing the emirate’s status as a preferred destination for investment environment and exceptional facilities,” stated Sheikh Maktoum bin Mohammed Deputy Ruler, Dubai Deputy Prime Minister Minister of Finance.

One half of the fund is dedicated to investments into venture capital funds with a local focus, while the other half is supposed to support startups directly or through Future District affiliated programs.

Also Read: Oracle Opens A New Cloud Region In Abu Dhabi

Digital companies that decide to base their operations in the Dubai Future District get to enjoy a number of benefits, including access to a large pool of entrepreneurial talent and hyper-connected infrastructure. Dubai has also very recently demonstrated its ability to quickly react to rapidly changing conditions when it became one of the first cities in the world to recover from the pandemic and reopen its economy.

All this makes it a very attractive place for startups and venture capital, and the UAE Centennial 2071 plan, whose goal is nothing less than to make the UAE the best country in the world by 2071, only reaffirms Dubai’s ongoing commitment to serve as a global hub for business.

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Adobe Reveals New AI Tools That Will Wow Photoshop Novices

The company is forging ahead with its Firefly-based AI features, but some professionals have copyright concerns.

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adobe reveals new ai tools that will wow photoshop novices
Adobe

On Tuesday, April 23, Adobe announced a beta version of Photoshop boasting several fresh features aimed at helping users generate new images and manipulate existing files through text prompts. The latest generative AI additions harness the power of Adobe’s new Firefly Image 3 model.

Among the highlights of the update is the Generate Image tool, designed to generate images based on textual cues, providing users who struggle with a blank canvas a starting point to work from. Additionally, Generative Fill, an existing tool for background completion or image expansion, now incorporates a Reference Image function. The enhancement enables users to guide the tool’s output towards a specific aesthetic or theme by uploading an image as a reference.

adobe photoshop ai update firefly image 3 model

The new AI tools significantly simplify the process of translating creative ideas into images and should be useful to both Photoshop novices and seasoned pros. Firefly Image 3 now has the ability to produce astonishingly realistic images, and its enhanced understanding of text prompts is now considered industry-leading.

Despite facing scrutiny over its training data and a backlash from certain segments of the creative community, Adobe remains committed to integrating generative AI features into its entire software suite. The company continues to assert that Firefly is a safe, ethical option for commercial use and positions it as an alternative to competitors like Midjourney and Stable Diffusion —both of which have faced allegations of using copyrighted material without proper attribution or compensation.

Also Read: Lebanese Newspaper Builds AI President To Beat Political Crisis

Despite Adobe’s confidence in Firefly’s abilities, recent findings have uncovered that its training dataset includes AI-generated images sourced from Midjourney and similar platforms, raising questions about the integrity of Adobe’s claims regarding the model’s commercial viability.

While Adobe maintains that its generative AI models are trained on licensed or public domain content from Adobe Stock, enthusiast Nick St. Pierre recently pointed out on X (formerly Twitter) that “over 13% of all images on Adobe Stock are AI-generated,” and that “most of the generated content comes from Dalle and Midjourney”.

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