: Will Dubai be amongst the 10 leading Metaverse economies globally? #IndiaNEWS #National,IANS Life By IANSlifeNew Delhi, July 23 (IANSlife) The Dubai Metaverse Strategy was launched with the goal of

Will Dubai be amongst the 10 leading Metaverse economies globally? #IndiaNEWS #National ,IANS Life
By IANSlifeNew Delhi, July 23 (IANSlife) The Dubai Metaverse Strategy was launched with the goal of making Dubai one of the top ten metaverse economies and a global hub for the metaverse community.
His Majesty Sheikh Hamdan bin Mohammed emphasised the importance of consolidating Dubais status as a hub offering the most advanced metaverse ecosystem and as a global leader in adopting digital solutions, which reflects His Highness Sheikh Mohammed bin Rashid Al Maktoums ambitious vision of transforming the emirate into a global capital of advanced technologies, primarily artificial intelligence (AI) and Web3.
The strategy aims to build on Dubais success in attracting over 1,000 blockchain and metaverse companies. It also promotes Dubais goal of supporting over 40,000 virtual jobs by 2030. This would further boost Dubais economy and support the UAE governments goal of tripling the current number of blockchain companies.
According to Al Olamas, the Dubai Metaverse Strategy aligns with the UAE AI Strategys goals of elevating the countrys position as one of the worlds leading countries in futuristic sectors by investing in new initiatives and empowering talent to drive digital transformation and the adoption of future technologies.
The Dubai Metaverse Strategy aims to foster innovation, increase the economic contributions of the metaverse through R&D collaborations, and promote advanced ecosystems through accelerators and incubators that attract companies and projects to Dubai.
The strategy focuses on developing talent and investing in future capabilities by providing the necessary support in metaverse education for metaverse developers, content creators, and users of digital platforms.
The key pillars of the strategy are extended reality (which combines the physical and virtual worlds), augmented reality, virtual reality, mixed reality, and digital twins (a virtual representation of an object or system). The strategy aims to improve human thinking processes by leveraging real-time data, utilising machine learning and IoT, and utilising AI simulation and blockchain.
The technology pillars of the metaverse strategy are data, network, cloud, and edge computing, which focus on real-world data acquisition, validation, storage, processing, and management. Other pillars include promoting full 5G network deployment to enable edge computing and provide on-demand computer system resources. Instead of using the cloud, edge computing allows data to be collected, stored, and processed locally via smart devices and local networks.
VR and AR are two key enablers of the metaverse, accounting for 6,700 jobs and contributing 0 million to the UAE economy, both of which are expected to grow significantly in the future.

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