https://adgully.me/post/5482/dmcc-qx-lab-ai-join-hands-to-offer-hybrid-ai-solutions-to-businesses

DMCC & QX Lab AI Join Hands to Offer Hybrid AI Solutions to Businesses

Dubai Multi Commodities Centre (DMCC) – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has partnered with the Dubai-based artificial intelligence firm QX Lab AI as it gears up to launch the DMCC AI Centre later this year.Through its ‘Ask QX’ platform, QX Lab AI offers generative AI capabilities that can be integrated into services such as online chat functions or used by businesses and individuals to enhance productivity. Ask QX’s unique neural architecture offers unprecedented scalability for the product, providing a digital infrastructure that can benefit firms by reducing overall computational power costs, building up platform security, and creating a protective shield against potential data breaches. With this groundbreaking technology, QX Lab AI aims to become the first AGI company in the world to access and leverage 372 billion parameters. Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC said: “In a short space of time AI has emerged as the single biggest force reshaping the way we do business – and we have barely scratched the surface of its potential. As we prepare for the imminent launch of DMCC’s AI Centre, I am delighted to be partnering with QX Lab AI whose unique generative AI platform and revolutionary neural architecture will provide DMCC and its members with unprecedented opportunities to enhance efficiency, productivity, and platform security at scale. This is just one example of the innovations we are pioneering from DMCC, reinforcing Dubai’s status as one of the world’s leading technology and AI hubs for years to come.” Tilakraj Parmar, Co-Founder and CEO, QX Lab AI, added: “The significant amount of money invested globally in AI research and deployment is just the start of a seismic shift in the way we all operate – both professionally and personally. We are glad to bring our AI capabilities to DMCC and its 24,000 member companies as we position Dubai at the forefront of AI research and deployment.” DMCC has created a range of innovation-focused ecosystems to advance Dubai’s status as a driving force in the development and adoption of next-generation technologies and industries. The DMCC Crypto Centre is home to over 600 Web3 firms, making it the largest concentration of crypto and blockchain companies in the region. Since its launch in 2023, the DMCC Gaming Centre has welcomed over 100 gaming companies, from developers and publishers to esports teams and software engineers, positioning Dubai as a hub for the immersive form of entertainment.
https://adgully.me/post/5469/dmcc-qx-lab-ai-partnership-advances-hybrid-generative-ai-solutions-for-businesse

DMCC-Qx Lab AI Partnership Advances Hybrid Generative AI Solutions for Businesse

DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has partnered with the Dubai-based artificial intelligence firm Qx Lab AI as it gears up to launch the DMCC AI Centre later this year. Through its ‘Ask Qx’ platform, Qx Lab AI offers generative AI capabilities that can be integrated into services such as online chat functions or used by businesses and individuals to enhance productivity. Ask QX’s unique neural architecture offers unprecedented scalability for the product, providing a digital infrastructure that can benefit firms by reducing overall computational power costs, building up platform security, and creating a protective shield against potential data breaches. With this groundbreaking technology, QX Lab AI aims to become the first AGI company in the world to access and leverage 372 billion parameters. Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC said: “In a short space of time AI has emerged as the single biggest force reshaping the way we do business – and we have barely scratched the surface of its potential. As we prepare for the imminent launch of DMCC’s AI Centre, I am delighted to be partnering with Qx Lab AI whose unique generative AI platform and revolutionary neural architecture will provide DMCC and its members with unprecedented opportunities to enhance efficiency, productivity, and platform security at scale. This is just one example of the innovations we are pioneering from DMCC, reinforcing Dubai’s status as one of the world’s leading technology and AI hubs for years to come.” Tilakraj Parmar, Co-Founder and CEO, QX Lab AI, added: “The significant amount of money invested globally in AI research and deployment is just the start of a seismic shift in the way we all operate – both professionally and personally. We are glad to bring our AI capabilities to DMCC and its 24,000 member companies as we position Dubai at the forefront of AI research and deployment.” DMCC has created a range of innovation-focused ecosystems to advance Dubai’s status as a driving force in the development and adoption of next-generation technologies and industries. The DMCC Crypto Centre is home to over 600 Web3 firms, making it the largest concentration of crypto and blockchain companies in the region. Since its launch in 2023, the DMCC Gaming Centre has welcomed over 100 gaming companies, from developers and publishers to esports teams and software engineers, positioning Dubai as a hub for the immersive form of entertainment.
https://adgully.me/post/4100/dgcx-launches-gccs-first-shariah-compliant-silver-spot-contract

DGCX Launches GCC’s first Shari’ah-Compliant Silver Spot Contract

The Dubai Gold & Commodities Exchange (“DGCX”), the largest and most diversified derivatives exchange in the Middle East, has launched the GCC’s first Shari’ah-Compliant Silver Spot Contract (“DSSC”), aimed at providing investors with a reliant and transparent platform for trading the white metal.Having received regulatory approval from the UAE Securities and Commodities Authority (“SCA”), the new contract will be available for trading from 27 October 2023. DGCX will also be waiving its fees for the DSSC contract until 31 December 2023.With the launch of DSSC, investors will, for the first time, be able to invest in physical silver through an exchange in the GCC with the benefit of a central counterparty clearing house, mitigating credit risk. By trading through DGCX, investors will also be able to take large positions in silver with no limit restrictions.Against a backdrop of high inflation, the demand for silver continues to grow. According to The Silver Institute, all major silver demand categories achieved record highs in 2022, with total offtake growing by 18% to 1.242 billion ounces (Boz). Furthermore, S&P Global Ratings expects the global Islamic finance sector to grow by 10% in 2023-2024, which will further support demand for Shari’ah compliant securities such as DSSC.Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “The world will see accelerating demand for silver as the precious metal is increasingly used in industries like solar energy and investors maintain their focus on asset diversification.This, combined with the increasing maturity of the global Islamic finance industry, has created the ideal environment for DGCX to launch the region’s first Shari’ah Compliant Silver Spot Contract. Based on our discussions with the market and the success of our Shari’ah Compliant Gold Spot Contract launched in 2018, we expect to see significant interest in DSSC from both traders and investors looking to access silver in a secure and reliable way. We look forward to working closely with our members to continue bringing innovative contracts to the market in the months and years ahead.”The underlying asset of each DSSC contract, which has been Certified by prominent Shari’ah scholars, is a 999.9 purity 900-ounce silver bar of “UAE Good Delivery” specification. Delivery of the contract is made seamlessly through DMCC Tradeflow, a flexible and customised online platform to register possession and ownership of commodities stored in UAE-based facilities, ensuring a seamless end-to-end process.DGCX expects there to be significant interest in its Shari’ah Compliant Silver Spot Contract from a range of market participants, including managers of exchange traded funds (“ETFs”), banks and non-banking financial institutions, as well as commodities traders. DSSC adds to DGCX’s existing portfolio of precious metals contracts, which includes Shari’ah compliant gold spot as well as silver and gold futures.
https://adgully.me/post/2271/bybit-joins-dmcc-as-ecosystem-partner-to-accelerate-crypto-web3-adoption

Bybit joins DMCC as ecosystem partner to accelerate crypto, Web3 adoption

Dubai: Bybit, the world's third most visited crypto exchange, has announced a strategic partnership with the leading global business district, the Dubai Multi Commodities Centre (DMCC) to accelerate the mass adoption of crypto in Dubai and deliver on its promise of investing in the Web3 ecosystem in the emirate. The collaboration will see Bybit become an official Ecosystem Partner for the DMCC Crypto Centre, the largest concentration of crypto and Web3 businesses in the MENA region.Bybit and DMCC signed a Memorandum of Understanding (MOU) to support the growth of the crypto community in the region. The agreement follows the unveiling of Bybit's global headquarters in Dubai on April 17 when it alluded to further localization efforts in the region.The MOU includes Bybit's pledge of financial support in the amount of AED 500,000 to kickstart the growth journeys of 15 new Web3 companies at the DMCC Crypto Centre. To qualify for this opportunity, start-ups must successfully pass the standard compliance and due diligence checks required by DMCC.Bybit will also serve as DMCC's crypto listing partner and assist in other blockchain-related projects. The exchange will play an active advisory and guidance role at the DMCC Crypto Centre, sharing first-hand insights and technical know-how to help young projects succeed and get listed on the Bybit platform. Currently on the roadmap are two hackathons in the DMCC's crypto and gaming centers. These hackathons will convene developers, entrepreneurs, and industry experts to collaborate and foster ground-breaking ideas to shape the crypto and Web3 industries.The DMCC Crypto Centre will provide Bybit with another avenue for collaboration with innovative crypto and Web3 entrepreneurs and founders. Bybit will also contribute to the Centre's efforts in knowledge sharing and capacity building in the digital economy through webinars, curated courses, educational content, and awareness campaigns. As the world's "Crypto Ark," Bybit will be available to DMCC Crypto Centre members' companies where appropriate to help them bring their ambitions to fruition.Ahmed Bin Sulayem, Executive Chairman and Chief Executive of DMCC, said: "Dubai has truly cemented its position as a global hub for crypto and Web3, with the DMCC Crypto Centre boasting the highest concentration of crypto firms in the region. This status has only been bolstered by Bybit's presence in the emirate, so we are excited to have them on board as an official Ecosystem Partner. Thanks to Bybit's industry-leading expertise and financial contribution, this partnership will see the acceleration of the impact that Dubai's game-changing crypto and Web3 businesses are having on the industry."The MOU underpins the partners' shared vision to develop a vibrant hub of blockchain-based activity and connectivity. It also gives Bybit access to the broad membership of DMCC as an Ecosystem Partner, which includes technology partners, government bodies, investors, incubators/accelerators, and service providers."We are delighted to be partnering with such a prestigious organization as the DMCC," said Ben Zhou, co-founder and CEO of Bybit. "We are committed to enriching the Web3 ecosystem on our journey to become the world's 'Crypto Ark' and want to do our part in advancing innovation and competition in the digital economy. We look forward to bringing our own brand of next-level opportunities to the UAE's burgeoning crypto community."??"Congratulations to the partnership. I am very pleased to have a part in this momentous partnership between Bybit and DMCC. This partnership is a classic example of what Web3 collaboration and support looks like. I'm excited to see how this partnership will add value to the web3 ecosystem. My core focus has always been to enrich and interconnect the Web3 ecosystem in the UAE and will continue to give my support by leveraging our immediate network," said Feras Al Sadek, Managing Partner, Ghaf Capital Partner & Ghaf Labs.