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Dubai Future Foundation, Meta launch AI-backed incubator programme

Dubai Future Foundation, Meta launch AI-backed incubator programme
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UAE – Mubasher: The Dubai Future Foundation (DFF) and Meta teamed up to launch a joint business incubator programme powered by Meta's AI model LLAMA 3, according to a press release.

The launch was announced during AI Retreat 2024, which was organised by the Dubai Center for Artificial Intelligence (DCAI) in collaboration with the National Program.

The new program aims to explore how Large Language Models (LLMs) can be leveraged to bolster AI-based tools to unlock economic value and contribute to overall economic growth.

In line with Dubai Universal Blueprint for Artificial Intelligence (DUB.AI), the initiative aims to support Dubai's economic agenda (D33) by adding AED 100 billion through digital transformation and expanding economic productivity by 50% through digital solutions.

The business incubator programme will foster collaboration and help exchange knowledge and expertise in AI product development.

It will also support the creative initiatives that open new horizons in the digital economy that is expected to reach $780 billion by 2030.

Abdulaziz Al Jaziri, Deputy CEO of Dubai Future Foundation, commented: “Through such programs, we aim to create new opportunities and provide fertile soil for startups’ rapid growth.”

“This will support the overall innovation system and bring innovative AI solutions and applications to life for the betterment of humanity,” Al Jaziri added.

Joelle Awwad, Head of Policy Programs, Africa Middle East and Turkiye, at Meta, stated: “Our commitment to working closely with regional partners like Dubai Future Foundation reflects our dedication to building awareness, enhancing capacities, and fostering practical innovation within the ecosystem. Together, we can unlock the true value of AI for both businesses and society.”