DFF, Meta Launch AI Business Incubator Program
The announcement was made during the AI Retreat 2024, hosted by the Dubai Center for Artificial Intelligence (DCAI) in collaboration with the National Program for Artificial Intelligence.
The Dubai Future Foundation (DFF) and Meta introduced a new business incubator program powered by Meta's "LLAMA 3" AI model.[1]
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The announcement was made during the AI Retreat 2024, hosted by the Dubai Center for Artificial Intelligence (DCAI) in collaboration with the National Program for Artificial Intelligence.
The program is designed to use Large Language Models (LLMs) to drive innovation in products and services across various industries.
This initiative aligns with the Dubai Universal Blueprint for Artificial Intelligence (DUB.AI), supporting Dubai's economic agenda (D33) by adding AED 100 billion ($27.23 billion) through digital transformation and enhancing economic productivity by 50% via innovation and digital solutions.
The incubator program targets five key sectors: energy, transportation, aviation, tourism, and retail. It includes four main stages:
Defining corporate design challenges that can be addressed using LLMs.
Engaging relevant AI startups, scale-ups, and established companies.
Hosting these entities in a six-week journey at DFF, focused on design thinking and rapid prototyping.
Announcing AI-based innovative solutions, exploring product development, and discussing investment opportunities.
The DUB.AI was introduced by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council.
The blueprint outlines a comprehensive yearly plan focused on leveraging AI to enhance quality of life across various sectors.
The plan is designed to create an ecosystem conducive to economic growth, technological utilization, and rapid advancement in AI applications. It prioritizes fostering an environment that attracts global AI talent and companies, supported by infrastructure and favorable regulatory frameworks.
Also, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of The Executive Council of Dubai, and Chairman of the Board of Trustees of the Dubai Future Foundation, declared that the AI Retreat will become an annual event in Dubai. The next retreat is scheduled for April 29, 2025.