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Dubai and Meta to stage AI projects

20 June 2024

Dubai Future Foundation and the US tech and social media platform Meta have agreed to establish a joint business incubator programme in Dubai.

According to the Emirates News Agency (Wam), the new programme aims to explore how large language models (LLMs) can support product and service innovation across industries, while enabling the development of AI use cases based on Meta’s open-source AI stack.

The programme, which adopts Meta's AI model Llama 3, is expected to enable applications “to help solve real-world problems, unlock economic value and contribute to overall economic growth”.

Meta owns and operates Facebook, Instagram, Threads, and WhatsApp, among other products and services.

The global artificial intelligence (AI) market is expected to grow from $103bn in 2023 to $1.03tn by 2030, according to the latest executive briefing from global information services firm GlobalData.

This represents a 39% compound annual growth rate over the forecast period.

AI Retreat

The announcement of the incubator programme follows a summit in Dubai, called The AI Retreat 2024, held on 11 June.

The programme aligns with the Dubai Universal Blueprint for Artificial Intelligence (DUB.AI), which aims to support the emirate's economic agenda (D33) by adding AED100bn ($27.2bn)  through digital transformation and increasing economic productivity by 50% innovation and digital solutions.

The  AI Retreat focused on four roundtable themes: data regulation and policies; computing and digital infrastructure; funding and finance; and talent ecosystem.

The roundtables' summary include: 

Data Regulation and Policies: Highlighted the imperative for robust data regulation and policies to foster the growth and ethical development of the AI industry in Dubai. These include governments enabling private sector access to government data while protecting national security and competitive advantage, ensuring ethical use of data.

Computing and Digital Infrastructure: Examined the current state of the infrastructure, future needs, and strategies for building a world-class digital backbone. Recommendations included developing a strategic roadmap for investments in infrastructure to enhance computational power, data storage, and connectivity.

Funding and Finance: Explored the financial landscape necessary to support Dubai’s AI industry, highlighting funding opportunities, investment strategies, and financial instruments that can accelerate growth and innovation.

Talent Ecosystem: Key priorities included transforming education to meet industry needs, introducing skills as the new currency, and embedding AI across all curricula from an early stage.The workshop highlighted the need for improved collaboration between academia, industry, and government and evolving skill requirements to keep pace with technology.

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Jennifer Aguinaldo

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