Skip to main content

Dubai will expand its metaverse operations with 40,000 new jobs

The emirate introduces its Dubai Metaverse Strategy, with the goal of becoming one of the world's top ten metaverse Economies


The emirate of Dubai, one of the main crypto hubs in the Middle East, unveils the Dubai Metaverse Strategy, with the goal of becoming one of the world's top ten metaverse economies. The approach supports Dubai's goal of supporting more than 40,000 virtual jobs by 2030.

The Dubai Metaverse Strategy was launched on Monday by Vice President, Prime Minister, and Ruler of Dubai H.H. According to the Emirates News Agency, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.

Al Maktoum intends to turn the emirate into a worldwide innovation powerhouse by focusing on artificial intelligence (AI) and Web3. The Dubai Metaverse Strategy aligns with the goals of the United Arab Emirates AI Strategy, which is to elevate the country's standing as one of the world's leading countries in futuristic areas through investment in new technologies.

The Dubai Metaverse Strategy will include R&D collaborations to increase the metaverse's economic contributions, the use of accelerators and incubators to attract companies and projects from around the world, and support for metaverse education geared toward metaverse developers, content creators, and digital platform users.

Within the context of the Strategy, new governmental employment models in tourism, education, retail, remote work, healthcare, and the legal sector are expected to be created. Extended reality, augmented reality (AR), virtual reality (VR), mixed reality, and digital twins – a virtual representation of an object or system — are claimed to be its cornerstones.

The Strategy recommends pushing the full implementation of 5G networks to enable edge computing, which would allow data to be collected, stored, and processed locally rather than in the cloud, using smart devices and local networks.

According to the statement, virtual reality and augmented reality have produced 6,700 employment and contributed $500 million to the UAE's economy. Globally, the value of venture capital and private equity funding in the metaverse is expected to reach $13 billion in 2021, while metaverse real estate transactions hit $500 million last year.

Since early June, the Dubai Virtual Assets Regulatory Authority (VARA) has given or extended virtual asset licences to many major crypto platforms, including Crypto.com, Huobi, and OKX.
Labels:

Comments

Post a Comment

Popular posts from this blog

Starbucks Teases Web3 Updates to Its Well-Known Rewards Program

To better engage customers, the global coffee firm is looking to digital collectibles Starbucks CEO Howard Schultz stated that Web3 will play a role in the future of the famous rewards programme. During the company's third-quarter 2022 earnings call on Tuesday, Schultz stated, "We've been working on a really fascinating new digital effort that extends on our existing industry-leading digital platform in inventive new ways, all focused on coffee and—most importantly—loyalty." According to Schultz, the new digital project will be unveiled on September 13 during the company's annual Investor Day event in Seattle. Starbucks will be able to expand on its present rewards engagement model while also introducing new techniques of emotionally connecting customers, according to Schultz, While giving a wider variety of awards and strengthening its "digital third place community" strategy. The term 'third place' refers to a community space located between ho...
1 comment
Read more

Microsoft will stop supporting Windows 8.1 in January 2023

Beginning January 10, 2023, Microsoft will stop releasing security updates for Windows 8.1. Users are then urged to upgrade to Windows 11 for a safer experience. One of my favourite versions of the well-known operating system was Windows 8.1, particularly since it struck the ideal mix between the older, traditional Windows interface and the tiled UI Microsoft was aiming for at the time. After the disaster that was Windows 8, Windows 8.1 offered a steady experience.  However, Windows 8.1's demise is imminent as Windows 10 and Windows 11 have become considerably more popular, stable, and feature-rich. According to Microsoft, technical support for Windows 8.1 will cease in January 2023, or around 7 months from now. Similarly, support for Windows 8 was discontinued in January 2016. Users of Windows 8.1 who want to continue using the operating system securely must upgrade to a newer version of Windows after January 10, 2023, as they will no longer receive security updates. What happens ...
Post a Comment
Read more

Report: AI is no longer a fringe technology in India

According to a recent analysis by Bain & Company, 80 percent of the businesses examined now have at least one AI model in use, proving that artificial intelligence is no longer a cutting-edge technology in India. The paper, titled From Buzz to Reality: The Accelerating Pace of AI in India, is based on a survey of close to 150 providers and 350 businesses. It will be released on Tuesday. Microsoft and the Internet and Mobile Association of India have worked together on this (IAMAI). As opposed to 56 percent of their global counterparts, technology solution providers in India are the ones driving AI adoption, with 64 percent of their solutions incorporating AI/ML as a core component. However, only a few use cases have been implemented by most enterprises, who are still in the early phases of adopting AI. Indian companies are now substantially more interested in using AI to boost business outcomes. However, there is a lot of hype and hyperbole surrounding what exactly qualifies as art...
Post a Comment
Read more