Dubai: The Dubai Future Foundation (DFF) and Meta together launched a business incubation program, which was marked by the AI Retreat 2024, which was organized by the Dubai Centre for Artificial Intelligence (DCAI) in association with the National Program for Artificial Intelligence.
Using Meta’s open-source AI stack to help solve real-world problems, unlock economic value, and promote overall economic growth are some of the goals of the new program, which aims to investigate how Large Language Models (LLMs) can be used to support product and service innovation across industries.
The AI Retreat in Dubai saw a positive reception from attendees, including industry leaders, specialists, and multinational corporations, about the unveiling of the program, which utilizes Meta’s AI model known as “LLAMA 3”. Creative thinkers, aspiring tech entrepreneurs, and founders of startups and established businesses that specialize in AI applications and uses found great resonance with the training.
The program is in line with the objectives of the Dubai Universal Blueprint for Artificial Intelligence (DUB.AI), which aims to support Dubai’s economic agenda (D33) by boosting economic productivity by 50 percent through innovation and digital solutions and adding AED 100 billion through digital transformation.
Since Dubai is home to eight global digital unicorns, the initiative aims to establish the city as a nurturing environment for AI firms and global talent, hence accelerating the achievement of these goals.
The program for business incubators will promote teamwork and facilitate the sharing of knowledge and skills related to the creation of AI products. It will foster opportunities and talent development, increase innovation, and make entrepreneurial enterprises more competitive. It will also help innovative projects that pave the way for the digital economy, which is predicted to grow to be worth $ 780 billion by 2030.
Abdulaziz AlJaziri, Deputy CEO of Dubai Future Foundation, emphasized the impact of global partnerships in driving AI entrepreneurship ecosystem.
“Through such programs, we aim to create new opportunities and provide fertile soil for startups’ rapid growth. This will support the overall innovation system and bring innovative AI solutions and applications to life for the betterment of humanity. It also establishes Dubai’s position as a global testbed and a vibrant environment for AI-based innovation and service development across vital future sectors,” AlJaziri added.