Know about the launching of the AI Coding License by DIFC
The United Arab Emirates is a country that has been characterized by its strict regulations regarding the use of licenses and the formation of companies in its territory. Since its emergence as an economic and business center, the government has created licenses for each type of productive activity. For example, tourism licenses, general trading licenses, professional licenses, etc. Today we will talk specifically about a new type of license: The AI Coding License.
In this article, you will find information about artificial intelligence, how the government is supporting the AI industry, what is the AI Coding License and also how we can help you get one of these licenses.
- What does AI stand for?
- What is the Dubai International Financial Centre?
- The AI Coding License
- The UAE’s strategy for Artificial Intelligence
- How the government of the UAE supports the AI industry?
- Advantages of acquiring an AI Coding License
- Why acquire an AI Coding License in the Dubai International Financial Centre?
- How can we help you get an AI Coding license?
1. What does AI stand for?
The acronym “AI” stands for Artificial Intelligence. This term is based on the ability of a computer controlled by a robot or a digital computer to perform tasks commonly associated with the intelligence of living beings.
This term is generally applied to projects related to intellectual processes characteristic of human beings. For example, the ability to reason, discover meaning, generalize, or learn from a past experience.
1.1 Types of artificial AI
The principal kinds of Artificial Intelligence are the following:
- Weak AI: This type of AI is also known as “Narrow AI”. It is a type of Artificial Intelligence whose objective is to perform a specific task. The Weak AI is in charge of managing most of the AI that surrounds us today. It enables some robust applications, such as Amazon’s Alexa, IBM Watson, Apple’s Siri, and autonomous vehicles.
- Strong AI: This AI is made up of Artificial General Intelligence (AGI) and Artificial Super Intelligence (ASI). General AI is a theoretical form of AI where a machine could have human-like intelligence. It would have a self-aware consciousness that could solve problems, learn, and also plan for the future. Artificial Super Intelligence would surpass the ability and the intelligence of the human brain.
1.2 Artificial Intelligence applications
Today, there are numerous real-world applications of AI systems, some of their uses are the following:
- Customer service: With the rise of AI, online virtual agents are replacing human agents. They are responsible for answering frequently asked questions around topics and even provide personalized advice.
- Computer vision: AI technology enables systems and computers to derive important information from digital images, videos, and other visual inputs. And based on those inputs, machines can take action.
- Recommendation engines: By using past consumption behavior data, the AI algorithms can help decipher new trends that can develop more effective cross-selling strategies.
2. What is the Dubai International Financial Centre?
The Dubai International Financial Center (DIFC) is a special economic zone in this Emirate. It is a financial hub for the Middle East, Africa, and also South Asia (MEASA) markets. This area has regulatory authorities according to international standards and a judicial system, it has a law framework, global financial exchange, a large business community, and also a tax-friendly regime.
DIFC is home to hundreds of financial institutions, including private investors and wealth funds. Also, it is home to multinational retail outlets, restaurants, cafes, residential spaces, hotels, public green spaces, and art galleries.
DIFC is one of the free zones of Dubai. It offers entrepreneurs 100% ownership of their company without the need for a local agent. This area is governed by a common-law framework distinct from the United Arab Emirates legal system. DIFC offers companies established in its territory a 50-year guarantee of zero taxes on corporate profits and income. This policy is supplemented by the UAE’s network of double taxation treaties.
2.1 Aspects of the Dubai International Financial Centre
The DIFC is an independent jurisdiction belonging to the United Arab Emirates that has its own civil and commercial laws, and its own courts. DIFC laws and regulations are written in English and default to English law, in case of ambiguity.
This independent jurisdiction extends to several sectors. For example, commercial, civil, corporate, trusts, employment, and security law matters. Other laws of the UAE or the Emirate of Dubai, such as immigration regulations and criminal laws, continue to apply in DIFC.
The Dubai International Financial Center offers operation support and business continuity facilities, no restrictions on foreign exchange, 100% ownership, 0% tax on income and profits, and also no restrictions on profit/capital repatriation.
3. The AI Coding License
On March 1 of this year, the Dubai International Financial Center launched an initiative related to Artificial Intelligence. This initiative is accompanied by the creation of a coding license, in cooperation with the UAE Artificial Intelligence Office. This novelty aims to attract AI companies and coders from around the world.
Companies that hold this license will be able to legally operate in the DIFC Innovation Hub. This is the largest cluster of FinTech and innovation companies in the region. The DIFC hub is home to more than 500 firms, ranging from startups to global companies, who represent more than sixty percent of all GCC Fintechs. In addition to this, the AI Coding License allows entrepreneurs the opportunity to obtain the UAE 10-year Golden Visas for employees working in those companies.
Today, coding is an essential skill and competitive advantage for a large number of professional roles. It is, without a doubt, one of the most important talents to master for future and current generations. This project, established in the UAE, aims to create a new generation of coders, enhance their skills in technology and coding, empower them with expertise and tools, and also provide them with the opportunity to find innovative solutions to global and local challenges.
This initiative reflects, in a positive way, that the country is ready to become a global destination for those industries of the future. And their way of doing it is through the adoption of advanced technology stimulating innovation in various fields. Dubai and the DIFC seek to become global ambassadors for AI, for this reason, a wide variety of industries across the emirate are setting the standard to achieve the goal of the UAE: An international and competitive knowledge-based economy.
4. The UAE’s strategy for Artificial Intelligence
The government of the United Arab Emirates has introduced the AI Coding License as a measure to attract professionals and leading firms in the field of Artificial Intelligence. The release of this license signifies a commitment to the UAE National Strategy for Artificial Intelligence 2031.
This strategy aims to make the United Arab Emirates the world leader in the Artificial Intelligence sector by 2031. And with this, improve the education, economy, and government of the UAE. Part of this strategy includes the adoption of AI technology from industries, for example, logistics, healthcare, tourism, resources and energy, cyber security, etc.
As an example, the resource and energy sector would use this intelligence for energy-saving decisions and understand the demand and the global supply of oil. Another example is the tourism sector, here, the Artificial Intelligence can be used to predict the needs of tourists and offer customized services.
One of the main objectives of this strategy is widespread the implementation of AI in the country’s public sectors. The reason for implementing this intelligence is to facilitate the efficiency and dispatch of government services. Besides, this intelligence will make the services error-free, and less time-consuming. Also it will significantly bring down their cost.
The strategy aims to make the United Arab Emirates a competitive hub for the research and innovation of the AI sector. To do this, attracting the right AI talent and investors was necessary. For this reason, the government released the AI Coding License.
5. How the government of the UAE supports the AI industry?
From the formation of the UAE Council for Artificial Intelligence to the launching of a host of programs, the UAE government has made significant strides in nurturing the AI industry. On the educational side, postgraduates and undergraduates courses about AI are offered at several universities. In addition to this, the government has financed the offer of scholarships for those students who take this type of course in the UAE and abroad.
Also, initiatives such as the UAE Artificial Intelligence Internship Program, the National Program for Coders, and the Artificial Intelligence Summer Camp seek to promote innovation and talent in the IT field.
The launch of the AI Coding License promises to be a game-changer in the economic sphere of the United Arab Emirates. Perks like Golden visas will attract the right AI professionals and ensure there is no shortage of talent.
With the forecast that Artificial Intelligence will become a fundamental aspect of the industrial, educational, and government sectors, the government has prepared a short and long-term plan for the gradual inclusion of this intelligence in companies.
Right now, there are multiple job opportunities in the AI sector, so it is the right time to start your path in this sector. If you want to start an Artificial Intelligence Company, DIFC is the ideal jurisdiction for you. This area offers numerous tech firms and plenty of co-working and licensing options that can satisfy your company’s needs. The Dubai International Financial center is the perfect launchpad for your AI business, especially if you hire a business setup agency, like Connect Zone, to guide you and ensure all your requirements are met.
6. Advantages of acquiring an AI Coding License
All licenses in the United Arab Emirates have a purpose. For example, the industrial license is for the manufacturing activities in the country and the commercial license deals with the purchase and sale of products inside and outside the UAE. The recently launched AI Coding License will allow entrepreneurs to legally carry out activities related to Artificial Intelligence and system coding.
Some of the advantages that you can acquire with this license are the following:
- Well-subsidized license fee for AED 5,508 per year, for up to 4 years.
- Minimum share capital requirement of AED 150,000
- Zero incorporation and registration fee
- Reduced visa costs of up to 50%
- Minimum co-working desk space at AED 1800, payable monthly or annually
- Up to 4 visas approved on the minimum co-working desk space
- Options for golden visas
7. Why acquire an AI Coding License in the Dubai International Financial Centre?
DIFC is the leading financial hub in the region for business, lifestyle, and fintech. Some of the reasons why you should acquire an AI Coding license in DIFC are the following:
- It has a codified English common law
- It is considered one of the top eight onshore financial centers worldwide
- DIFC courts follow international standard regulations.
- It offers a great variety of Visas
8. How can we help you get an AI Coding License?
Connect Zone has been helping more than a thousand entrepreneurs to form the company of their dreams in the United Arab Emirates for more than twenty years. We are the ideal partner to advise you when you need it and guide you in each step and procedure that you have to carry out.
We can help you with the process of applying for your AI Coding License, we will carry out all the procedures to obtain the visa you need and we can even assume the role of a local agent if you require it. Connect Zone is fully trained to assist you in all the necessary procedures for the formation of your company.
Do you want to know more about us and the AI Coding License? You can contact us at the following number +971 43 316 688 or at contact@connectzone.ae. Where one of our advisors will assist you with all of your concerns.
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