The Dubai Future Foundation and Meta International announced today the launch of a joint program for business incubators in the sector of developing applications and uses of artificial intelligence, and projects that benefit from large language models for machine learning, as part of a project aimed at strengthening Dubai’s leadership as a global laboratory and a vital incubating environment for product innovation and development. Services using artificial intelligence across various vital sectors of the future.
This comes as a result of the outcomes of the “Artificial Intelligence Retreat 2024” held last week, under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Executive Council, and Chairman of the Board of Trustees of the Dubai Future Foundation.
The announcement of the program, which adopts the “Meta” model of artificial intelligence “Lama 3”, received a positive response among specialists, experts and companies in Dubai, especially those with creative and innovative ideas, future technology entrepreneurs, founders of emerging projects and companies specializing in applications and uses of artificial intelligence.
The business incubators program supports the objectives of the Dubai Artificial Intelligence Retreat, including enhancing cooperation and exchanging knowledge and experiences in the field of projects and initiatives to develop the uses of artificial intelligence, enhancing innovation and improving the competitiveness of its pioneering projects, in order to develop its opportunities, empower its talents, and provide a vital incubating environment for its creative initiatives that open New horizons in the digital economy, which is expected to reach $780 billion by 2030.
The program also contributes to achieving the goals of the Dubai Annual Plan for the Uses and Applications of Artificial Intelligence, most notably supporting the achievement of the goals of the Dubai Economic Agenda D33, which is to add 100 billion dirhams of digital transformation to Dubai’s economy, and raise the economy’s productivity by 50% through innovation and adoption of digital solutions.
The program seeks to support efforts to accelerate the achievement of the goals of the annual plan, by strengthening Dubai’s position as an incubator environment for artificial intelligence companies and international talents, and a headquarters for eight billionaire technology companies.
Abdulaziz Al-Jaziri, Executive Vice President of the Dubai Future Foundation, stressed the importance and impact of global partnerships in advancing the entrepreneurship system in the field of artificial intelligence, pointing out that this partnership seeks to create new opportunities and provide a fertile environment for the growth of emerging technology companies, which supports the global innovation system and contributes. In providing innovative artificial intelligence solutions and applications to serve communities and consolidate Dubai’s position as an open global laboratory and an enabling environment for innovation and the development of artificial intelligence-based services in future vital sectors.
Joelle Awad, Director of Public Policy Programs at Meta Middle East, North Africa and Turkey, said that the future of artificial intelligence development lies in the ability to open up and enhance cooperation with all parties at all levels, and the commitment to working with regional partners such as the Dubai Future Foundation reflects the keenness to raise awareness and promote… Capabilities and practical support for innovation to open new horizons for the potential of artificial intelligence for business development and community service.
The Dubai Future Foundation plays a central role in the business incubation program as a strategic partner, as it is responsible for providing consultations on the targeted sectors, employs existing networks and partnerships between the government and private sectors to enable emerging companies, provides open spaces to explore talents, develop capabilities and build capabilities, and organizes the provision of… Promising project offers.
The program forms part of the regional “META” initiative that aims to benefit from its open source artificial intelligence suite, to enable the innovation of solutions, activate economic opportunities and benefits, and contribute to enhancing comprehensive economic growth at the level of Dubai and the region.
The program covers five main sectors: energy, transportation, aviation, tourism, and retail, and includes four main stages that include identifying design challenges that can be solved using large language models for machine learning, exploring emerging, developing, and established companies in the field of artificial intelligence in question and including them in the work team, and hosting Dubai Future Foundation companies are on a journey of arranging ideas, design and rapid prototyping over a period of six weeks, leading to the final stage of announcing innovative solutions based on artificial intelligence, and discussing the possibility of developing products, investing in them and financing them on a commercial level.
The joint business incubation program between the Dubai Future Foundation and Meta is based on the unique open source LAMA 3 model, which can be used to develop useful artificial intelligence applications in various sectors.
The program’s flexible approach to developing artificial intelligence applications brings together various stakeholders in the sector. Including innovators, people with creative ideas, technology entrepreneurs, founders of emerging projects, and developing and large companies in the fields of future technology and artificial intelligence, in order to create distinct solutions that can be applied at global levels to enhance the quality of life and multiply the opportunities of the digital economy.
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