Dubai AI And Web3 Festival Draws 6,800 Visitors Worldwide

Dubai, UAE – 12 September 2024: Following the guidance of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister and Minister of Defence of the UAE, the inaugural Dubai AI & Web3 Festival, organized by the Dubai AI Campus in strategic collaboration with DIFC and the Minister of State for Artificial Intelligence, Digital Economy & Remote Work Applications Office, has successfully wrapped up today.

This two-day event attracted over 6,800 attendees from more than 100 nations, coming together to delve into the vast commercial opportunities presented by AI and Web3 technologies. Participants included government representatives, heads of state, academics, influential business figures, and members of AI and Web3 enterprises. More than 100 exhibitors showcased the latest advancements in emerging tech.

During the event’s second day, Arif Amiri, the Chief Executive Officer of DIFC Authority, highlighted: “Two decades ago, DIFC was established as a key player in Dubai’s economic diversification, supported by top-tier regulations and best practices. Our innovative culture is crucial for fostering the region’s largest ecosystem focused on business, finance, and promising technologies. The Dubai AI Campus has successfully attracted over 120 companies, surpassing our initial goal of 75 firms. We project the influx of more than 500 businesses by 2028, leading to the creation of over 3,000 jobs, expansion of the AI Campus to over 100,000 square feet, and an influx of 300 million US dollars in investments.”

Amiri also unveiled the launch of the pioneering Dubai AI Licence, designed to bring even more companies to Dubai, building on the success of the DIFC Innovation licence, which has drawn in over 1,100 businesses to the Centre.

Additionally, DIFC introduced the innovative ‘AI as a Service’ concept aimed at helping organizations evaluate their AI readiness, pinpoint opportunities, provide recommendations, formulate strategies, and assist with implementation.

Throughout the Festival, companies in the AI and Web3 sectors competed for the title of champion at the inaugural Future Tech World Cup, with the winner soon to be announced. During the final event, each contender made impactful presentations, showcasing how their innovations could transform industries and address critical global issues.

The second day featured in-depth discussions on topics such as inclusivity and diversity, decentralised intelligence, enhancing risk resilience in vendor management through AI implementation, and the legal and regulatory landscape surrounding AI. Other themes included interoperability, predictive modelling, AI usage, data visualization, big data processing, data mining, enterprise adaptation in web3 transition, governance in Generative AI, and ethical compliance.

In a bid to further promote the use of AI and Web3 technologies, the Dubai AI Campus formalized several agreements during the Festival with entities such as Dubai Civil Defence, Holon, Kearney, NayaOne, SIEF, Visa, Warba Bank, and Zurich.

The first edition of the Dubai AI & Web3 Festival was supported by 30 sponsoring companies, with founding partners including Dubai Chamber of Digital Economy, Holon, Al Fardan Exchange, and Hyperfusion.

The next installment of the festival is scheduled to take place in November of next year, with ambitions for the Dubai AI & Web3 Festival to become one of the largest AI events globally by 2027.