12 May 2023
Will Dubai be a global AI hub by 2030
Dubai is the key driver of innovation and new technologies
The inaugural Dubai FinTech Summit themed ‘New Global Home to the Future of FinTech and Finance’, featured 5,000 global industry leaders including global policy makers, C-suite executives, entrepreneurs, investors and delegates. The Summit has brought together over 100 exhibitors, 120 speakers and delegates representing over 50 countries.
The participation of international industry leaders and top talent from across the world in the Summit demonstrates Dubai’s role as a major driver of innovation and next-generation technologies in the region’s financial sector. With Dubai providing one of the world’s best ecosystems to foster the growth of FinTech innovation, it has become one of the leading hubs for driving value creation in the sector. The Summit will reinforce Dubai’s emerging role in shaping the future of the worldwide FinTech landscape. Dubai FinTech Summit will also foster more cross-border collaboration between the public and private sectors while offering a strong platform for FinTech firms to tap into new growth opportunities.
DIFC has become a major engine of growth for Dubai’s economy and a significant contributor to its GDP. Having grown exponentially over the last 10 years, DIFC now contributes around 6% of Dubai’s GDP. DIFC continues to enhance its ecosystem to further accelerate innovation, testing, investment and growth. Dubai and DIFC have invested heavily in their FinTech ecosystem by creating a supportive and agile regulatory framework, providing access to funding, sandbox environments and resources for start-ups and established companies alike.
Dubai FinTech Summit presented a unique opportunity for collaboration between traditional financial institutions and FinTech firms, especially with rapid AI advancements driving innovation within the sector.
With Dubai raising its profile as a global business hub, driven by its strategic location, world-class infrastructure, and investor-friendly policies, more and more businesses around the world looking to expand and grow have been gravitating to Dubai to take advantage of opportunities emerging from its diverse economy and support for innovation and excellence.
At the heart of Dubai’s thriving business ecosystem is the Dubai International Financial Centre (DIFC), which plays an increasingly key role in leading and shaping the future of finance through innovation, sustainability, and partnerships, and by creating an environment that fosters growth and development.
DIFC’s 2030 strategy is anchored around driving the future of finance through cutting-edge technology, innovation and partnerships.
The Dubai FinTech Summit is integral to this and provides a unique platform for start-ups, investors, and industry leaders, representing over 50 countries, to connect and innovate. FinTech is destined to play a significant role in shaping the financial landscape.
The sector is expected to double in size from over $135 billion in 2021 to almost $270 billion in 2027.
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