Dubai Financial Center to Host Artificial Intelligence and Web 3 Festival in 2022

The first edition of the “Dubai Artificial Intelligence and Web 3 Festival” was announced in Dubai on October 30, organized by the Dubai Financial Center, and this event will take place in Jumeirah city on September 11 and 12, 2024.
The launch of the “Dubai Artificial Intelligence and Web 3 Festival” was announced following the success of the “Dubai Artificial Intelligence and Web 3 Campus”. The Dubai Campus was established earlier this year under the directives of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and Chairman of the Dubai Financial Center. The festival aims to attract global innovators, startups, capital heads, and leaders from various sectors to the region.
The organization of this event reflects the strong commitment of the emirate to highlight future technologies by adopting a global platform that stimulates the growth of the emirate through leveraging technology and innovation.
The “Dubai Artificial Intelligence and Web 3 Festival” is expected to attract over 100 participants and more than 5000 visitors from industry leaders, policymakers, and global innovators who will lead discussions on the future of artificial intelligence and Web 3.
The event agenda focuses on discussing a diverse range of topics, starting from exploring ethics related to artificial intelligence to potential opportunities for Web 3.
In a related context, a study by PwC recently indicated that artificial intelligence is expected to contribute nearly $15.7 trillion to the global economy by 2030. Another report by McKinsey & Company suggests that artificial intelligence is set to create around 200,000 jobs in the Middle East alone by 2025. In addition,
Reports from the Boston Consulting Group indicate that virtual assets owned by the decentralized infrastructure of Web 3 represent approximately 40% of the global economy of virtual assets by 2021. The value of transactions related to virtual assets is expected to range between $150 billion and $300 billion by 2025.
Issa Kazim, Governor of the Dubai Financial Center, stated that the center is committed to providing a supportive environment for creativity, enhancing cooperation, and empowering individuals to achieve positive change. The “Dubai Artificial Intelligence and Web 3 Festival” events include understanding the immense potential in smart technology and Web 3, opening new horizons for economic growth. This approach aligns with the Dubai Financial Center’s 2030 global strategy and Dubai Economic Agenda (D33).
Aref Amir, the Executive Director of the Dubai Financial Center Authority, mentioned that the first edition of the Dubai Artificial Intelligence and Web 3 Festival reflects the ambitious vision of the Dubai Financial Center to establish itself as a leading hub for financial technology and innovation companies. Growth and innovation require high-quality human capital, policymakers, technology innovators, and investors. By creating a platform that encourages global collaboration, we are not only satisfied with enhancing dialogue on artificial intelligence and Web 3, but continue our efforts to pave the way for building a digital future for all.
The official start of the Dubai Artificial Intelligence and Web 3 Festival will be announced after a series of strategic initiatives launched by the Dubai Financial Center in the market earlier this year.
The “Dubai Artificial Intelligence and Web 3 Campus” is considered the largest dedicated gathering for artificial intelligence and Web 3 companies in the world, where the center was launched in August of this year, in line with Dubai’s vision to become a preferred destination for all technology companies.
The center is expected to enhance the emirate’s position as a destination for innovation and technological integration across various sectors. The center has been built on a space exceeding 100,000 square feet in “Innovation One” at the Dubai Financial Center, where the center aims to attract over $300 million from collective funds and create over 3000 jobs by 2028.