Dubai continues to show its interest in new technologies and more specifically in the metaverse: the emirate wants to create 40,000 new jobs in this sector and will deploy new infrastructures to develop Web3. According to the press release, this could bring 5 billion dollars to the Dubai economy.
Dubai, future world capital of new technologies?
The emirate of Dubai, in its folie de grandeur, plans to create 40,000 virtual jobs in order to become one of the top 10 metaverse economies in the world.
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Chairman of the Dubai Executive Council, unveiled the Dubai Metaverse Strategy on July 18, a project that could bring $4 billion to the Dubai economy by 2030, according to the statement.
True to its guideline of becoming one of the world’s leading hubs for new technologies, the city will focus on artificial intelligence (AI) and Web 3.0 by developing incubators for projects in this field as well as promoting these 2 poles through content creators.
According to Omar bin Sultan Al Olama, UAE Minister of State for Artificial Intelligence and Digital Economy, the metaverse will be key to “providing innovative solutions, positively impacting people’s lives and transforming the city into one of the world’s smartest hubs, offering new economic opportunities.”
Also according to the release, Dubai is already home to around 1,000 companies working in the blockchain and metaverse sectors, which contribute $500 million to the local economy.
A multitude of technologies highlighted
The horizons covered by the Dubai Metaverse Strategy will be numerous and will include new government working models, among others. It will also cover tourism, education, retail, remote working, healthcare and the legal sector.
The focus will also be on user security, including the development of infrastructure for this purpose and the creation of secure platforms to accelerate the adoption of these technologies under the best conditions.
The metaverse includes extended reality (a mix between the physical and virtual worlds), augmented reality, virtual reality (VR), digital twins and mixed reality. The press release also mentions machine learning to go beyond the limits of human thinking.
The strategy also promotes the deployment of 5G networks to develop edge computing to process data in the local network via smart devices rather than storing it in the cloud.
Recall that last May, the Dubai Digital Assets Regulatory Authority made its debut in The Sandbox (SAND) metaverse.
