Dubai continues to have a genuine interest in anything connected to cutting-edge technology and, by extension, the metaverse. The Emirate has aspirations to add 40,000 new jobs to this industry. Additionally, it intends to roll out new infrastructures that would enable Web3 development. In the medium term, profitability of close to $4 billion is desired.
Dubai has huge ideas. To rank among the top 10 metaverse economies in the world, The Emirate aims to generate 40,000 new jobs in the sector. Thus, the Dubai Metaverse Strategy was unveiled on July 18 by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council (DMS).
According to a statement from the government, the DMS might boost the economy of the nation by up to $4 billion by the year 2030 once it is implemented. By establishing project incubators, the city will specifically concentrate on artificial intelligence and Web 3. She will also come up with fresh ways to produce material that will emphasize the metaverse.
The metaverse will be essential to “delivering innovative solutions, having a positive impact on the people’s lives and transform the city into one of the smartest centers in the world, offering new economic opportunities,” according to Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence and Digital Economy of the United Arab Emirates.
The regions that the Dubai Metaverse Strategy covers
Numerous topics will be covered by the DMS. A handful of these, including tourism, retail, remote work, healthcare, legal, and education, have already been made public. Additionally, a focus will be made on the modalities to guarantee the highest level of user security. Thus, platforms will be developed to hasten the adoption of new technologies under ideal circumstances.
In order to streamline and accelerate the processing of data in the local network, the DMS will enable the deployment of the 5G network. Smart devices will be used for this, which will optimize time and simplify things for users.
Dubai aspires to establish itself as a major center for emerging technology, particularly the metaverse. The city will implement the Dubai Metaverse Strategy to accomplish this (DMS). By following this multifaceted approach, the city will be able to meet its goals and bring in close to $4 billion in revenue by 2030.