In a significant move towards embracing cutting-edge technology, the Dubai Multi Commodities Centre (DMCC), renowned as the world’s flagship free zone and the Government of Dubai Authority on commodities trade and enterprise, has announced a groundbreaking collaboration with the Dubai-based artificial intelligence firm QX Lab AI. This strategic partnership is set to pave the way for the introduction of innovative hybrid Generative AI solutions to businesses, offering unparalleled opportunities for enhanced efficiency, productivity, and security.
The collaboration marks the first of its kind between DMCC and QX Lab AI, aiming to provide state-of-the-art AI solutions tailored to the unique needs of DMCC member companies. At the heart of this partnership lies the integration of QX Lab AI’s pioneering generative AI capabilities into various business operations, with a focus on optimizing online chat functions and boosting overall productivity.
QX Lab AI’s flagship platform, ‘Ask QX,’ harnesses the power of generative AI to revolutionize digital interactions and streamline business processes. With its unique neural architecture, the platform offers unmatched scalability, enabling businesses to reduce computational costs, fortify platform security, and safeguard against potential data breaches. Notably, QX Lab AI aims to position itself as the world’s first AGI (Artificial General Intelligence) company with access to and leveraging of a staggering 372 billion parameters.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, expressed his enthusiasm for the collaboration, stating, “In a short space of time, AI has emerged as the single biggest force reshaping the way we do business – and we have barely scratched the surface of its potential. As we prepare for the imminent launch of DMCC’s AI Centre, I am delighted to be partnering with QX Lab AI, whose unique generative AI platform and revolutionary neural architecture will provide DMCC and its members with unprecedented opportunities to enhance efficiency, productivity, and platform security at scale.”
Tilakraj Parmar, Co-Founder and CEO of QX Lab AI, echoed Bin Sulayem’s sentiments, emphasizing the transformative impact of AI on the global business landscape. “The significant amount of money invested globally in AI research and deployment is just the start of a seismic shift in the way we all operate – both professionally and personally. We are glad to bring our AI capabilities to DMCC and its 24,000 member companies as we position Dubai at the forefront of AI research and deployment,” Parmar commented.
DMCC has long been at the forefront of fostering innovation and technological advancement in Dubai, with initiatives such as the DMCC Crypto Centre and the DMCC Gaming Centre serving as prime examples. The DMCC Crypto Centre, home to over 600 Web3 firms, stands as the largest concentration of crypto and blockchain companies in the region, while the DMCC Gaming Centre has welcomed over 100 gaming companies since its launch in 2023, solidifying Dubai’s position as a hub for immersive entertainment.
As DMCC continues to spearhead initiatives aimed at propelling Dubai to the forefront of technological innovation, the partnership with QX Lab AI represents a significant step towards harnessing the transformative potential of AI to drive business growth and foster economic development in the region. With the impending launch of the DMCC AI Centre, Dubai is poised to emerge as a global leader in AI research, development, and deployment, cementing its status as a hub for innovation and technology-driven progress.
