Dubai makes new task force to monitor developments in digital economy and metaverse

According to reports, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai’s crown prince, and Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Dubai’s deputy prime minister, “reviewed vital technology trends in the metaverse and issued directives to form a task force to track the latest developments in the digital economy.”

According to Sheikh Hamdan, the task force’s formation will certainly aid Dubai in its quest to become “a key metropolis in the metaverse.”

The Prince said the following:

“The necessity of approaching the future with an open mind is reflected in His Highness Sheikh Mohammed bin Rashid’s instruction to form a higher committee to manage Dubai’s future technology achievements.” The move will assist us in completely comprehending reality and exploring creative ideas that will help Dubai and the UAE construct a brighter future while maximising future commercial potential. “

Metaverse crowns Dubai’s economy

The task group is already working on “important pillars and objectives of the Dubai Metaverse Strategy,” according to Sheikh Hamdan, who is also the head of the Dubai Executive Council (DEC). According to a Wam article, this strategy aims to “raise the metaverse sector’s contribution to Dubai’s GDP to US $4 billion by 2030.”

According to the report, Dubai’s officials want the metaverse to contribute one percent of the city’s GDP. Meanwhile, according to the report, the task force is working to integrate metaverse technologies, which will improve resident surgeon performance by 230 percent and engineer productivity by 30 percent.

Furthermore, the report stated that corporate income from the metaverse might increase to $400 billion by 2025, up from $180 billion now.

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