Dubai Metaverse Assembly report is out

Dubai Future Foundation publishes key recommendations

Dubai Future Foundation has published a report on the outcomes of the inaugural Dubai Metaverse Assembly held in September at the Museum of the Future under the patronage of Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council and Chairman of the Board of Trustees of Dubai Foundation Future.

The report was prepared in partnership with PwC, the knowledge partner of the Dubai Metaverse Assembly, to highlight the main recommendations that came from the assembly, as well as the major trends and applications that were discussed. The assembly was attended by around 600 technology experts and specialists from 50 countries.

The report addresses the most important topics and discussions that arose from the assembly relating to the future of the metaverse. It focuses on metaverse applications in sectors such as business, communications, education, entertainment, gaming, travel, and real estate.

Four main areas

The report identified four main areas that governments and companies should focus on to achieve success in the metaverse, including strengthening collaboration between the government and private sectors, developing legislation and regulations related to data protection, privacy and cybersecurity risks, defining clear roles and responsibilities for all stakeholders, and accelerating the adoption of advanced technologies and the exchange of experiences.

Job creation target

Dubai Metaverse Assembly was the first event in Dubai to focus on the metaverse. It was hosted following the approval by Shaikh Hamdan to launch the Dubai Metaverse Strategy in July 2022. The strategy aims to add $4 billion to Dubai’s GDP to support the creation of 40,000 virtual jobs by 2030, attract 1,000 technology companies to the emirate, and position Dubai as one of the 10 largest metaverse economies in the world.

Omar Bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, said, “The event highlighted the importance of keeping pace with technological developments and employing new applications in realising future visions and plans and developing governments, economy, health, education and communities.”

Khalfan Belhoul, CEO of Dubai Future Foundation, said, “The report will serve as a resource for anyone seeking to understand how the metaverse will impact vital economic sectors and help create a better future for humankind built on sustainability, wellbeing and prosperity.”

The event highlighted the importance of keeping pace with technological developments and employing new applications in realising future visions and plans.”

Omar Bin Sultan Al Olama | Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications