News

Dubai To Issue Licenses To Support AI And Web3 Businesses

The licenses will be 90% subsidized and support the emirate’s push to transform itself into a digital society.

Published

2 years ago

August 15, 2023

dubai to issue licenses to support ai and web3 businesses

Dubai will issue commercial licenses to help artificial intelligence and Web3 startups to set up businesses as the UAE aims to attract more investment and further digitize its economy.

The licenses will be issued by the AI and Web 3.0 Campus through the Dubai International Financial Center and will be 90% subsidized, the DIFC said on Monday.

The activities will include AI research and consultancies, IT infrastructure, technology research and development, and public networking services.

“We are confident that by granting these licenses, we will attract more global talent and investment to the region and create a culture of collaboration and innovation. This is a notable milestone for the Dubai AI and Web3 Campus and will strengthen Dubai’s position as the business destination of choice for technology-focused companies,” explained Mohammad Alblooshi, chief executive of the DIFC Innovation Hub.

Launched in June, the campus aims to form the largest cluster of AI and Web3 companies in the MENA region. DIFC aims to attract over 500 companies by 2028, bring $300 million in funds, and create more than 3,000 jobs over the next five years.

Also Read: USB-C Will Be Mandatory From 2025 For All Saudi Smart Devices

AI has rapidly gained traction as the digital economy grows and countries continue to encourage its adoption. The technology is already in widespread use for online shopping, search engines, smart homes, data analysis, speech and face recognition systems, and more.

For businesses, AI could add between $2.6 trillion and $4.4 trillion annually, according to a recent study from McKinsey. Web3, meanwhile, encompasses blockchain and general decentralization and is projected to contribute $15 billion to GCC economies annually by 2030.

Related Topics:Artificial Intelligence Dubai Web3

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News

Yabi Introduces AI Financial Coach For Smarter Money Moves

The app provides real-time, personalized financial guidance, helping UAE residents manage money smarter, reduce debt, and build wealth effortlessly.

Published

7 hours ago

February 22, 2025

Nour Nasir

Yabi

Imagine having 24/7 access to an expert financial advisor — someone who understands your spending habits, helps you save more effectively, and offers guidance for every financial decision. That’s the vision behind Yabi’s revamped platform, an AI-driven finance app designed to transform personal finance management in the UAE.

Unlike traditional budgeting tools, Yabi acts as an always-available AI advisor, analyzing your unique spending patterns and offering real-time, tailored financial advice. Whether you’re making everyday purchases, planning a big trip, or saving for a major milestone, Yabi keeps you on track and helps you make informed financial choices.

Rakhil Fernando, CEO of Yabi, explains the mission behind the platform: “Financial literacy is not optional — it’s essential. But most financial tools today feel outdated and overly complex. Yabi is here to change that by offering AI-powered financial coaching that’s smart, simple, and accessible to everyone in the UAE”.

Here are some of the updated app’s new features:

AI-Powered Financial Coach: A 24/7 digital advisor providing real-time financial guidance based on your spending habits and available in multiple languages.
Live Insights: Connect your bank accounts for a detailed breakdown of your expenses.
Tailored Budgeting: Yabi creates a budget that fits with your actual spending habits rather than generic financial advice.
Interactive Financial Education: Learn the essentials of saving, investing, and credit management through engaging content integrated into the AI experience.
Automated Expense Tracking: Receive instant alerts on overspending, identify hidden charges, and cut unnecessary subscriptions with ease.
Credit Score & Financial Health Monitoring: Get free credit score checks and AI-driven recommendations to enhance your financial standing.

Also Read: A Guide To Digital Payment Methods In The Middle East

Finally, Yabi is also gearing up to introduce its own debit card and a suite of financial products, making it easier to save, spend, and invest within a single platform.

Want to try Yabi for yourself? You can download the app on the Apple App Store and Google Play Store.