Connect with us

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

on

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.

Advertisement

📢 Get Exclusive Monthly Articles, Updates & Tech Tips Right In Your Inbox!

JOIN 17K+ SUBSCRIBERS

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Initial Trials Of Dubai’s Driverless Evocargo Trucks Completed

Testing was announced on July 17, and the completion is a major milestone towards upgrading the region’s logistics infrastructure.

Published

on

initial trials of dubai's driverless evocargo trucks completed
Dubai Media Office

A Dubai-based company has completed the initial trials for the UAE’s first driverless trucks. The groundbreaking achievement by Evocargo, partnering with Dubai South, took place at Dubai South Logistics District, and marked a significant step towards incorporating autonomous technologies into the region’s wider logistics infrastructure.

Announced on Wednesday, July 17th, the trials featured the Evocargo N1 unmanned electric truck navigating a predetermined route within a controlled setting. The test involved interactions with common road obstacles such as cars, trucks, and pedestrians, aiming to evaluate the vehicle’s hardware and software reliability, accident prevention systems, and overall readiness for public road use.

Officials were keen to highlight that this accomplishment aligns with the UAE’s ambitious strategy to position itself as a global leader in innovation and technology adoption. The country aims to have 25% of all transportation in Dubai autonomous by 2030, underscoring its commitment to revolutionizing the logistics sector using advanced technologies.

Mohsen Ahmad, CEO of the Logistics District at Dubai South, emphasized the importance of the collaboration with Evocargo in enhancing the region’s logistics capabilities. He noted that autonomous vehicles are set to increase efficiency, reduce carbon emissions, and establish a sustainable logistics infrastructure that will benefit both Dubai and the wider UAE.

Also Read: Riyadh Developers Reveal New 45,000-Seat Murabba Stadium

Ahmed Al-Ansi, CEO of Evocargo Autonomous Logistic Services, also expressed optimism that the trials will draw new customers and investments across the Gulf Cooperation Council (GCC) countries. The partnership aims to lead in innovative tech solutions, further establishing the UAE as a pioneer in autonomous transportation.

The successful completion of the trials marks a crucial step towards realizing the UAE’s vision for a technologically advanced and sustainable future in which autonomous vehicles are expected to play a pivotal role in global logistics.

Continue Reading

#Trending