The Dubai International Financial Center (DIFC) has announced that it will build the ‘Dubai AI & Web 3.0 Campus’, the largest cluster of artificial intelligence and tech companies in the MENA region.

With ambitious plans to expand to a dedicated campus spanning 100,000 square feet over the next five years, the campus housed at DIFC Innovation One will focus on the use of AI and Web 3.0 in the financial services industry. The ‘Dubai AI and Web 3.0 Campus’ will be home to visionary entrepreneurs, disruptors and engineers with a deep passion for emerging technologies. The campus will provide world-class physical and digital infrastructure including R&D facilities, accelerator programs and collaborative workspaces to attract, build and scale AI companies.

DIFC Governor His Excellency Isa Kazim said: “DIFC’s 2030 Strategy is central to shaping the future of finance and innovation. AI is expected to inject AED 103 billion into the UAE economy by 2035 and the decade will contribute 14 percent to the country’s GDP by the end of 2018. The Dubai AI and Web 3.0 Campus will significantly contribute to this growth as a global nexus for R&D, investment and innovation with over $300 million More crowdfunding, 500+ global AI and Web 3.0 startups, and 3000+ jobs will be created by 2028.

DIFC’s 2030 strategy focuses on driving the future of finance through cutting-edge technology, innovation and partnerships. DIFC’s Innovation Hub offers one of the region’s most comprehensive FinTech and Venture Capital environments, with cost-effective licensing solutions, fit-for-purpose regulations, innovation accelerator programs and funding for early-stage growth. Included. FinTech and Innovation, the fastest growing sector in the DIFC with 686 affiliated firms, has raised over $615 million in funding at the center through 2022.

The ‘Dubai AI and Web 3.0 Campus’ will act as a catalyst for growth, attracting global innovators, startups, and industry leaders to establish a vibrant ecosystem of AI-driven initiatives in the region. will In addition to benefiting from DIFC’s unique soft infrastructure, AI and Web 3.0 companies will also benefit from a sector-specific licensing and regulatory framework.

Arif Amiri, Chief Executive Officer, DIFC Authority, said: “At DIFC we believe it is important to be at the forefront of tech innovation and AI development as we pave the way for a digitally empowered future of finance. ‘Dubai AI And the Web 3.0 Campus’ will serve as a catalyst for growth by attracting global innovators, startups, venture capitalists and industry leaders, as we become MENA’s largest ecosystem for the AI ​​and Web 3.0 fields. systems. By fostering a collaborative environment, the Dubai AI and Web 3.0 Campus will accelerate the development of future technologies and empower organizations to unlock the true potential of AI and Web 3.0.

DIFC is leading the creation of a global ecosystem for AI and Web 3.0, the largest in the MENA region, by promoting innovative technologies and attracting global talent. By seamlessly integrating physical and virtual infrastructure, the Dubai AI and Web 3.0 Campus is poised to emerge as the preferred headquarters for leading AI and Web 3.0 companies and venture capitalists operating in the region.

The DIFC plays an important role in guiding and shaping the future of finance through innovation, sustainability, and inclusion and by creating an environment that fosters growth and development. The 33rd edition of the Global Financial Center Index ranking ranks Dubai as one of only 10 financial centers in the world as a global leader with a broad and deep offering.