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.

DMCC launches Gaming Centre to advance MENA region's gaming industry

DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has announced the launch of the DMCC Gaming Centre in support of the increasingly growing global and regional video games industry. Currently standing at USD 1.8 billion, revenues generated by the gaming industry in the MENA region are expected to reach USD 5 billion by 2025.Launched during the Dubai Esports Festival, the DMCC Gaming Centre formalises DMCC’s efforts in the gaming and esports space, creating a supportive environment in which all gaming and esports companies can thrive. DMCC is currently home to over 50 gaming companies, from game developers and producers to esports teams and tournament organisers. The DMCC Gaming Centre will be based in DMCC’s award-winning free zone, providing unparalleled access to a vibrant community of gaming industry peers to unlock new opportunities for collaboration. Gaming companies looking to expand their global reach and connect with audiences across the world will also benefit from DMCC’s fully digital setup process, world-class infrastructure, and commitment to increasing the ease of doing business.Under the DMCC Gaming Centre, members will have access to the wider esports community through regular events and esports tournaments and industry support from DMCC’s ecosystem partner YaLLa Esports, a leading esports organisation in the UAE. Furthermore, members will have the opportunity to join gaming specific acceleration and market entry programmes through our ecosystem partner, AstroLabs, a leading tech ecosystem builder in the MENA region. Earlier this year, DMCC partnered with the global VC firm Brinc to provide members with access to USD 150 million in funding through their accelerator programmes ZK Advancer and The Sandbox Metaverse. Those programmes will also be open to DMCC Gaming Centre members developing games on blockchain and web3 technologies.  “Gaming is one of the fastest growing industries in the world, with nearly 3.2 billion people playing and spending a combined total of USD 196.8 billion in 2022. The size and growth of the industry today is staggering compared to when video games first appeared in the 1970s,” said Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC. “These passionate communities are constantly looking for greater immersion and storytelling in their chosen form of entertainment. As our roster of gaming companies expands rapidly and as we see more of our DMCC Crypto Centre members enter the blockchain gaming space, there is no better time to formalise our efforts by opening the DMCC Gaming Centre. Through this facility, we will solidify Dubai’s position as a global hub for all forms of gaming and esports.”Gaming has become the most popular form of digital entertainment across the world, with rich storytelling and greater immersion than other forms of content. DMCC’s research shows that eight out of 10 Gen Zs and millennials are gamers, and that gamers between the ages of 25 and 40 spend as much as seven hours gaming each week. Esports is also a rapidly growing industry, with 68% of the online population watching gaming-related content and 10% being esports enthusiasts. Esports has grown to become watched more than many traditional sports leagues such as the NBA and MLB.Find more information and learn how to set up at the DMCC Gaming Centre here.

DMCC unveils new brand for JLT

The world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has unveiled ‘a neighbourhood full of soul’ as the new brand for its vibrant Jumeirah Lakes Towers (JLT), reflecting the district’s growth into Dubai’s leading mixed-use community.The new brand is underpinned by the central proposition that JLT has become an eclectic neighbourhood full of soul. The community’s identity brings together authenticity, ambition, balance, and collaboration. It has become a place where anyone can belong, and everyone can thrive.The brand also draws inspiration from being located in one of the world’s fastest growing free zones. DMCC is best known for connecting markets, removing barriers to trade, and unlocking a vast array of opportunities for its member companies. Home to over 21,000 companies from every industry and sector, JLT has become a leading global business district that acts as a launchpad for significant economic activity, and the brand visuals reflect this unique position.Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “Since its first tower was built in 2006, JLT has grown and matured into a truly diverse destination that serves all of its residents, helps businesses grow, and creates unique experiences for visitors. JLT looks to continue this growth in the years to come, enriching the lives of new and old generations alike. Unveiling this new brand is the latest step in JLT’s journey, allowing us to accurately reflect the world-class community that it has become.”Central to JLT’s appeal for residents and visitors is its diverse offering of leisure, hospitality, dining, and recreation facilities. From F&B pop-ups to five-star dining, and community markets to high-end retail, JLT offers something for everyone and is known as one of Dubai’s go-to foodie and cultural destinations. DMCC has also bolstered the range of sports and recreation facilities in recent years, with parks, football pitches, basketball courts, tennis courts, and fitness hubs installed across the community. This status as one of Dubai’s most popular community hubs has soared in recent years on the back of local and global recognition, including winning prominent awards like the Financial Times’ Excellence Award for Infrastructure Development in 2022 and the People’s Choice Family Friendly Location of the Year 2017.The new brand reflects JLT’s status as a destination where positive change is embraced and encouraged. Creating environmental and social impact is central to JLT’s identity, with an ESG strategy spanning areas that target maximum impact for residents, businesses, and visitors. This includes the deployment of cutting-edge energy and water saving technologies, reducing waste and single plastic usage, and ensuring inclusive facilities and spaces across the community.JLT is one of the region’s leading mixed-use developments, with over 100,000 people spread across the 2 million sqm community and its 87 residential and commercial towers.

DMCC looks to grow $23 billion UAE-US trade corridor

Dubai Multi Commodities Centre (DMCC) has successfully concluded Made For Trade Live events in Miami and New York as it seeks to attract more companies from the US to the UAE.DMCC sees significant opportunities for growth in the UAE–US trade corridor, which was worth US$23 billion in 2021, not least because of the recently signed codeshare agreement between Emirates and United Airlines. DMCC is home to more than a third of the approximately 1,500 US businesses in the UAE.The two Made For Trade Live events were hosted in partnership with AmCham Dubai, Brooklyn Chamber of Commerce and Versailles Ventures. They saw 120 business leaders from Miami and New York briefed on the commercial appeal of Dubai and the ease of doing business with DMCC, the fastest growing and most interconnected free zone in the world. With Dubai firmly positioned as a global hub for financial services, crypto and commodities trade, DMCC executives also highlighted the opportunities in Dubai for US businesses in these key areas.Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said, "With its truly world-leading trade infrastructure, pro-business regulations and policies, as well as its drive to be a global hub in critical areas such as crypto and commodities trade, Dubai is the perfect place for US businesses to expand their operations. These trade roadshows allow DMCC to highlight the Dubai and wider UAE opportunity, and reflect on our mandate of facilitating trade, removing barriers to entry and unlocking new business opportunities. We were thrilled to be on the ground in the United States maintaining and forging new relationships that will unlock a host of exciting new commercial opportunities and, ultimately, strengthen global trade."Cara Nazari, Managing Director, AmCham Dubai, added, "Time and again, we have seen Dubai’s remarkable ability to act as a catalyst for the international growth of American businesses. DMCC’s work in highlighting this opportunity to key markets in New York and Miami aligns perfectly with our mission, which is why we are proud to support their outreach through these important roadshows."Randy Peers, President and CEO, Brooklyn Chamber of Commerce, said, "Providing new channels for the growth of Brooklyn’s businesses drives everything we do. It is clear that through DMCC and Dubai, any American business has the ability to target some of the world’s fastest-growing markets. We look forward to working with DMCC on further events like this in the future."Following the success of the two events in the US, DMCC’s executive management team will be continuing the tour and travelling to South America to engage with the business communities in Brazil over the coming weeks.DMCC has played a significant role in enhancing the UAE-US trade and business relations and is currently home to over 634 leading American businesses, which use the free zone as a hub for doing business with countries around the world.DMCC’s Made for Trade Live series plays a key role in promoting Dubai as a prime destination for foreign direct investment (FDI). DMCC attracted a record-breaking 2,485 new companies to the free zone in 2021 and 1,469 new companies in the first half of 2022, bringing the total number to over 21,000 member businesses, from large multinationals through to SMEs and entrepreneurs.