Dubai: New AI centre launched to develop real-world applications, attract top investors

The centre is expected to scale AI solutions across industries, creating a “multiplier effect” throughout the DMCC business district

Nasreen Abdulla

Published: Tue 10 Sep 2024, 2:33 PM

Last updated: Tue 10 Sep 2024, 11:08 PM

Dubai’s DMCC free zone has launched an artificial intelligence (AI) centre, positioning the country as a potential hub for AI development. This new initiative aims to provide a platform for tech companies to launch their AI-related service while connecting businesses with the resources they need to integrate AI into their operations.

“We are planting seeds,” said Ahmed Bin Sulayem, chief executive Officer of Dubai Multi Commodities Centre (DMCC), during a media roundtable on Tuesday. He explained that the goal is to make UAE a leader in AI. “We are planning to be the next AI hub. Through this centre we will look to advance AI adoption and real-life use case with can attract new technologies.”

The centre is expected to scale AI solutions across industries, creating a “multiplier effect” throughout the DMCC business district.

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Although the decision to establish the centre wasn’t easy, Bin Sulayem emphasised the free zone’s strong track record.

"When it was first suggested to me, I almost left,” he admitted, acknowledging the initial doubts he had about the project. However, he highlighted DMCC’s ability to support such a transformative industry. "Since AI is going to be a part of our lives and the businesses we engage with, it’s crucial to have this industry close by,” he said.

In a trade report earlier this year, DMCC projected that AI will contribute over Dh15 billion to the UAE economy by 2030. At the opening ceremony of the centre, Khalfan Belhoul, CEO of the Dubai Future Foundation, underscored the UAE's commitment to becoming a global leader in AI by 2030 through its national strategy. He highlighted that the opening of the DMCC AI Centre marks a major step toward achieving this goal.

The AI centre

Occupying two floors in DMCC’s headquarters in Uptown Tower, the AI Centre will feature co-working spaces, high-tech meeting rooms, and an exclusive AI solutions showroom. It will form part of a larger hub alongside other established technology ecosystems, including the DMCC Crypto Centre and DMCC Gaming Centre. “

It will be a hub for excellence,” said Bin Sulayem. “With AI increasingly integrated into Web3, crypto, and gaming technologies, we are in the perfect position to support companies at this intersection.”

The freezone is already home to over 50 AI and robotics companies from all over the world. DMCC has also partnered with several key companies, including global custom software and app developer Builder.ai. It will help members create apps using AI technology, and UAE-based AGCC, which will run accelerator and market entry programmes to attract and scale the best AI technologies globally.

The DMCC AI Centre will offer companies access to capital, accelerator programs, knowledge-sharing platforms, networking opportunities, education, and training for its member companies.

Builder.ai’s founder Sachin Dev Duggal explained how the centre would enable companies. “Centres like these have the ecosystem and vendors in one place so it will help especially companies without a huge amount of cost to find AI solutions they need,” he said.

This AI centre will focus on developing and commercialising real-world AI applications to attract the best companies, investors, and partners.

Belal Jassoma, director of Ecosystems at DMCC explained how the freezone has already supported some companies. “We have programs in place where we engage with corporations, identify their needs, and find the right technology to address them,” he said. “If that technology isn't available locally, we will source it from abroad. Currently, we are running a program with South Korea that has already had two success stories with companies in the UAE.”

In 2021, the freezone launched the DMCC Crypto Centre, a comprehensive ecosystem for businesses operating in the cryptographic and blockchain sectors. Currently the centre has over 600 members with over 150 million dollars of funding available.

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