The Dubai International Financial Centre (DIFC), a 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 licence, in cooperation with the UAE Artificial Intelligence Office.
The licence, which is a UAE first, will advance the country’s Artificial Intelligence Strategy 2031, which aims to enhance the UAE’s reputation in this field by attracting AI companies and coders from around the world.
The DIFC stated that companies holding the licence 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, ranging from start-ups to global unicorns, representing over 60% of all GCC FinTechs.
Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, commented: “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 that embody 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, 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.”
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