Companies holding the licence will be able to work within the DIFC Innovation Hub. Image Credit: Gulf News Archives

Dubai International Financial Centre (DIFC) has launched an artificial intelligence (AI) and coding licence in cooperation with the UAE Artificial Intelligence Office, it was announced on Tuesday.

The licence will advance the country’s Artificial Intelligence Strategy 2031, which aims to enhance the UAE’s reputation in this field by attracting AI companies and coders from around the world.

Companies holding the licence will be able to work within the DIFC Innovation Hub, the largest cluster of FinTech and innovation companies in the region. The hub hosts more than 500 firms, ranging from start-ups to global unicorns, representing over 60 per cent of all GCC fintechs. In addition, the licence provides an opportunity to obtain UAE Golden Visas for employees working in those companies.

Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, commented: “Such initiatives reflect positively on the country’s readiness to become a global destination for pioneering the industries of the future by adopting advanced technology and stimulating innovation in various fields.”

“DIFC has opened new horizons for leading global companies that aspire to enhance their efforts in the field of AI and expand their businesses further.”

Essa Kazim, Governor of DIFC, called Dubai and the DIFC the global ambassadors for AI.

“Financial Services companies in DIFC and a broad spectrum of other industries across the emirate are setting the standard which is also contributing to the UAE’s ambitious goal to have an internationally competitive, knowledge-based economy.”