Strategy to turn Dubai into one the world’s top 10 metaverse economies as well as a global hub for the metaverse community.
The ruler of Dubai, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, launched the Dubai Metaverse Strategy that aims to turn Dubai into one the world’s top 10 metaverse economies as well as a global hub for the metaverse community.
The government teams were developing the Dubai Metaverse Strategy 60 days before its launch.
The strategy reflects the vision for transforming the emirate into a global capital of advanced technologies, primarily artificial intelligence (AI) and Web3. It aims to attract more than 1,000 companies in the fields of blockchain and metaverse. It also promotes more than 40,000 virtual jobs by 2030. This would further increase the number of blockchain companies by five times the present number.
Sheikh Hamdan said that Dubai is making great strides in enhancing its position as a global testbed for metaverse technology while investing judiciously in building capabilities and talent in creating the region’s most robust and largest ecosystem for the metaverse community. He added that adopting new technologies will be a stepping stone in Dubai’s vision to use future technologies to create new work models in vital sectors and increase the metaverse’s impact on regional and global economies.
Commenting on the launch of the Dubai Metaverse Strategy, Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Teleworking Applications, and Deputy Managing Director of the Dubai Future Foundation, reiterated the importance of designing the future with new digital strategies for adopting the metaverse in vital sectors. He added that the metaverse would drive the UAE’s and Dubai’s efforts to provide innovative solutions, positively impact people’s lives, and transform the city into one of the smartest hubs worldwide offering new economic opportunities.
Al Olama said the Dubai Metaverse Strategy is in line with the objectives of the UAE AI Strategy to enhance the country’s status as one of the world’s leading countries in futuristic sectors by investing in new initiatives and empowering talent to drive digital transformation and the adoption of future technologies.
Dubai Metaverse Strategy
The Dubai Metaverse Strategy aims to foster innovation, enhance the metaverse’s economic contributions through R&D collaborations, and promote advanced ecosystems utilising accelerators and incubators that attract companies and projects to Dubai.
The strategy emphasises fostering talent and investing in future capabilities by providing the necessary support in metaverse education aimed at developers, content creators and users of digital platforms in the metaverse community.
The Dubai Metaverse Strategy supports the development of Web3 technology and its applications to create new governmental work models and development in vital sectors, including tourism, education, retail, remote work, healthcare, and the legal sector. The strategy also aims to develop global standards in building safe and secure platforms for users and develop metaverse infrastructure and regulations to accelerate the adoption of these technologies.
The strategy’s key pillars focus on extended reality (which blends the physical and virtual worlds), augmented reality (AR), virtual reality (VR), mixed reality, and digital twins (a virtual representation of an object or system). The strategy aims at leveraging real-time data, using machine learning and IoT, and employing AI simulation and blockchain to enhance the human thinking processes.