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As Dubai continues to shift to a more digital economy and looks to attract more investment in the sector, the emirate announced that it would issue commercial licenses to give AI and Web3 operators a chance to set up businesses. 

The licenses issued by the AI and Web3 Campus of the Dubai International Financial Centre (DIFC) will be 90% subsidized. The decision will further support activities, including distributed ledger technology services, specialized AI research and consultancies, IT infrastructure builders, technology research and development, and public networking services, that will provide the push toward digitization. 

“We are confident that by granting these licenses, we will attract more global talent and investment to the region and create a culture of collaboration and innovation,” said Mohammad Alblooshi, chief executive of the DIFC Innovation Hub. 

Launched in June, the campus focuses on becoming the largest AI and Web3 sector throughout the Middle East and North Africa region. It set a goal to attract more than 500 companies by 2028, generating funds of $300 million and creating more than 3,000 jobs in the next five years. 

“This is a notable milestone for the Dubai AI and Web3 Campus and will strengthen Dubai’s position as the business destination of choice for technology-focused companies and attract more world-class talent and diversified investors to the region,” Alblooshi added. 

The Dubai AI and Web3 Campus provides state-of-the-art physical and digital infrastructure within the DIFC Innovation One premise, which includes R&D facilities, accelerator programs, and collaborative workspaces.

Dubai launched the Dubai Centre for Artificial Intelligence in June to train 1,000 employees spanning more than 30 government bodies on the usage of generative AI. The emirate will also host Dubai Assembly for Generative AI in October.