Experts in artificial intelligence and specialists in finance in Dubai have confirmed that the city provides a suitable environment for the growth of billion-dollar startups and attracting large companies.
During a closed discussion on artificial intelligence in finance, as part of the “Artificial Intelligence Summit,” participants explained that artificial intelligence and its secure applications represent rich future opportunities in financial operations, secure transactions, and value analysis for small and large projects. They emphasized that the use of artificial intelligence in financial sectors holds great promises for the future, especially in Dubai, which is considered a global hub for the latest advanced digital finance technologies.
The session discussed Dubai’s experience in creating an ideal environment for the growth of startups and attracting major companies, hosting headquarters of giant technology companies benefiting from economic and investment opportunities in technology, communications, and digital transformation fields. Dubai ranks first globally in foreign direct investment in artificial intelligence, first in the Middle East in technology entrepreneurship, and seventh globally in cities’ readiness for artificial intelligence technology.
Participants stressed the importance of launching accelerator programs and business incubators to support innovative ideas in artificial intelligence, focusing on funding, training, partnerships, knowledge transfer, and experiences exchange. They highlighted the necessity of capital availability in the initial stages to support artificial intelligence projects and emphasized the importance of enhancing Dubai’s status as an attractive center for global emerging companies in artificial intelligence through an integrated, flexible system capable of adapting to technological advancements.
Participants called for the continuous development of infrastructure, legislation, and enhancing cooperation between the public, private, and academic sectors.
Participants agreed on Dubai’s role in accelerating the adoption of artificial intelligence applications in the financial, banking, and financing sectors in the near future, considering its leading position in this sector in the region and its readiness to provide future tools, advanced digital infrastructure, and integrated infrastructure to lead smart cities in the future.
The “Artificial Intelligence Summit” in Dubai, held under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council and Chairman of the Board of Trustees of the Dubai Future Foundation, witnessed the participation of more than 2500 decision-makers, experts, and officials from the public, private, and technology sectors. The summit discussed the main challenges facing the field of artificial intelligence, including policies, legislation, governance, talent exploration and development, promotion of digital infrastructure, development of data centers capabilities supporting artificial intelligence applications, as well as funding mechanisms, research, and others.
(Emirates News Agency – WAM)
