Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA) region has announced the launch of a ground-breaking Artificial Intelligence (AI) and coding license, in cooperation with the UAE Artificial Intelligence Office, in Dubai on 1 March 2022.
The license, which is the first of its kind in the UAE, will advance the country’s Artificial Intelligence Strategy 2031. It aims to enhance the UAE’s reputation in this field by attracting AI companies and coders from around the world.
Companies holding the license will be able to work within a stimulating environment at the DIFC Innovation Hub, which is the largest cluster of FinTech and innovation companies in the region.
The Hub hosts more than 500 firms, including start-ups and global unicorns that represent over 60 per cent of all GCC FinTechs.
Also, the license provides an opportunity to obtain UAE Golden Visas for employees working in those companies.
Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, commented that “Such initiatives reflect positively on the country’s readiness to become a global destination for pioneering the industries of the future by adopting advanced technology and stimulating innovation in various fields.”
The UAE Government is keen to support digital transformation processes in line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
This is being achieved by developing digital activities and providing innovative solutions that contribute to improving the performance of governments and the lives of communities. DIFC has opened new horizons for leading global companies that aspire to enhance their efforts in the field of AI and expand their businesses further.
His Excellency Essa Kazim, Governor of DIFC, said, “Dubai and DIFC are global ambassadors for AI. Financial Services companies in DIFC and a broad spectrum of other industries across the emirate are setting the standard which is also contributing to the UAE’s ambitious goal to have an internationally competitive, knowledge-based economy. DIFC is proud to be collaborating with the UAE AI Office, confirming our commitment to the country’s Artificial Intelligence Strategy 2031 and leveraging the potential of AI to drive the future of finance.”
The strategy is a wide-ranging initiative that will involve the rapidly developing technology being integrated into all sections of society from government services to education.
The country has also established the Mohamed bin Zayed University of Artificial Intelligence to support the advancement of research, development, transfer and practical use of AI.
The UAE Council for Artificial Intelligence and Digital Transactions said it plans to boost the number of specialized AI laboratories in the country and accelerate research initiatives.
Earlier in 2022, the UAE government also launched the Coders HQ, a new transformational project that re-defines local coding communities, in partnership with more than 40 companies in the UAE and around the world.
