With policies that encourage innovation, investment and the development and implementation of the most pioneering technologies, Dubai is on the verge of achieving its many goals—from being the smartest city in the world to a centre for business and partnerships
Dubai has left no stone unturned to invest and develop innovative, emerging and smart technologies to make it a truly future-forward city. With initiatives that underline these efforts—mainly Dubai Data Strategy, Dubai 10X, Smart Dubai 2021, Dubai Blockchain Strategy and Dubai Pulse Platform, among others—the city is poised to become one of the smartest cities in the world and a leader in technology and innovation, impacting the lives of not only its citizens but also businesses that will benefit from these endeavours. By setting up world-class infrastructure that supports and drives growth, business and innovation, the city is making daily processes and operations more efficient.
To this end, the government has launched over 100 smart initiatives and 1,000 smart services to boost seamlessness and sustainability and transform the way government services are delivered to citizens thereby increasing their happiness quotient. Thanks to its landmark efforts, Dubai has recently been recognised as a role model for a smart, sustainable and resilient city by the UN.
Then there’s the Dubai Internet of Things (IoT) strategy which is aiming to build the most advanced IoT ecosystem to transform the city into a model smart city. Alongside this, the Dubai Data Wealth Initiative will work towards protecting the city’s digital wealth and help it become 100 per cent digital and paperless, garnering an expected USD 9.2 billion by 2021.
Through Dubai 10X, the city hopes to find solutions to challenges of the future, thereby staying a decade ahead of other cities.
A hub for ICT business
When it comes to technology and innovations, especially in fields like robotics, fintech and AI, Dubai leads the way, with the highest FDI in these sectors. Further, its pro-business policies and initiatives to create a data-driven economy by implementing the latest technologies, be it 5G communications, cloud, big data analytics, 3D printing, artificial intelligence (AI), IoT, autonomous transport and blockchain technology (that will make the city the first in the world to be completely powered by this technology)—will lead to faster connectivity, better productivity and growth across all sectors thereby attracting further business and partnerships in the UAE. For its part, the blockchain strategy will help make transactions safer, secure, efficient and seamless to impact lives and make them easier.
In the MENA (Middle East and North Africa) region, Dubai is considered to be the largest hub for Information and Communication Technology (ICT) business, with over 1,600 companies in the field of ICT.
Progressive strategies and policies are what have helped the city earn its reputation and ranking of being the third best in the world to live and work in. Government supported residency programmes and the law on 100 per cent foreign ownership are attracting further investors in the region.
AI and IoT
Besides this, Dubai is also cementing its position as a leader in research for knowledge sharing, especially among businesses. The city is home to a first-of-its-kind AI Lab in conjunction with IBM, which utilises AI technology and machine learning to improve the deliverance of government and city experiences and services. It also works towards helping the community and businesses leverage this technology for better functioning and operations.
UAE is also seeing a growing number of cloud service providers setting up data centres here, for instance, IBM that launched two data centres here—one in Abu Dhabi and one in Dubai. Further, more than 70 per cent of Middle Eastern companies are slated to use multi-cloud systems in the next two years to touch USD 4.1 billion by 2022.
Disclaimer: This article is a part of featured content series on Business in Dubai
