The report on the future of metaviruses in the UAE and the world calls for readiness to reap the benefits of the inevitable transformation of metaviruses

 The Dubai Future Foundation published a report on the future of metaverses, which reviewed the most prominent outputs of the first session of the "Dubai Metaverse Forum", which was held last September at the "Museum of the Future" under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council and Chairman of the Board of Trustees. Dubai Foundation for the Future.

The report was prepared in partnership with PwC, the knowledge partner of the Dubai Metaverse Forum, with the aim of highlighting the most prominent recommendations of the forum, the most important main trends and future transformations of metaverse applications, and benefiting from the experiences of more than 600 experts and specialists in technology sectors from 50 countries around the world. Over the course of two days, they participated in more than 25 workshops and dialogue sessions that hosted more than 30 speakers and 40 local and international institutions and technology companies.

The report dealt with the most important topics and discussions that the forum witnessed about the promising Metaverse applications in the business, communications, education, entertainment, games, travel, real estate and other vital fields, and its most promising opportunities at the local and global levels and how to use them in designing and creating a better future.

The report identified 4 main areas that governments and companies should focus on to achieve success in the world of Metaverse, including strengthening cooperation and partnerships 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 participants in this transformative journey, and creating A shift in the field of openness to accelerate the adoption of modern technologies, the exchange of experiences and successful practices in the areas of development and the discovery of future opportunities.

The report stated that the "Dubai Metaverse Forum" was the first event specialized in this future sector in Dubai to be organized after His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum approved the "Dubai Metavirus Strategy" last July, which will add $4 billion to Dubai's GDP. , and supports the creation of 40,000 virtual jobs by 2030, and attracts 1,000 companies specializing in digital transaction technologies and metaverses, and enhances Dubai's position among 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, Deputy Managing Director of the Dubai Future Foundation, confirmed that the Dubai Metaverse Forum provided the world with a gathering, the largest of its kind, for experts and institutions concerned with designing the future of metaverse, and contributed to highlighting the importance of keeping pace with technological development and employing its applications. In realizing future visions and plans, and developing the governmental, economic, health, educational and community sectors, and employing new tools that facilitate people's lives and open promising horizons in the future.

For his part, CEO of the Dubai Future Foundation, Khalfan Juma Belhoul, said: “The Dubai Future Foundation was keen to benefit from these local and international discussions and experiences witnessed by this global event in preparing a comprehensive report on the future of metaverses, believing in the importance of spreading knowledge of future trends and defining the most important expected transformations and opportunities.” Promising and important technologies", pointing out that the report constitutes a reference for local and international institutions to draw a comprehensive picture of the capabilities and applications of Metaverse in vital areas that benefit humans in the first place.

For his part, Partner in charge of Metaverse at PwC, Guy Parsonage, said: “The Middle East economy is currently witnessing a rapid digital transformation that contributes to radical change in various sectors and industries. Dubai is considered one of the leading models in this transformation as it seeks to consolidate its position to become among Top 10 economies in the field of metaverses and their aspiration to develop a role model in the field of metaverse technologies.

He added: “Through our strategic partnership with Dubai Future Foundation, we aim to discover how to employ new and advanced technologies to create a better future for humanity, which helps us connect the real and virtual worlds more easily. On the other hand, this partnership confirms our commitment to helping customers and supporting them in their journeys.” Towards digital transformation, ensuring sustainable results while building trust in our society.

The report concluded that governments and companies should take the initiative to prepare to reap the benefits of the inevitable transformation in the world of metaverse, which will grow at a faster rate than the development of the Internet or mobile data speeds. In addition to increasing effective cooperation and partnerships with all stakeholders without any delay.

Concrete and successful use cases should be the cornerstone of any experiment or project in the metaverse world to gain credibility and increase trust among developers, regulators and the public.

The report touched on the most important advantages and applications that Metaverse can contribute to, including enhancing the ability of individuals to control their data and the possibility of monetizing it, and helping governments achieve diplomatic parity between countries, which was evident during the forum through Barbados' announcement of launching an embassy in the world of Metaverse.

The report also stated that Metaverse will reduce the control of traditional digital platforms and technological monopoly, in addition to providing innovative experiences for users, starting from providing education for students at new levels to interacting innovatively with artists and the world of music.

The report reviewed the views of many experts who participated in the "Dubai Metaverse Forum" on the most prominent pillars of Dubai's leadership in the world of metaverse, which began developing a global experience based on the "Dubai Metaverse Strategy" and its main objective of preparing the infrastructure for testing, developing and employing metaverse technology, and attracting talent. Local and global, global and emerging technology companies, which contribute to expanding the horizons of the digital and future economy.

It is worth noting that the Dubai Future Foundation announced the organization of the second session of the "Dubai Metaverse Forum" on the period 11-12 October 2023, following the prominent interest it witnessed from the technology and business community to view the developments of the metaverse, and the wide local and international participation in the sessions and events of the forum organized by the Foundation. Under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council and Chairman of the Board of Trustees of the Dubai Future Foundation, in the "Museum of the Future" and "District 2071"

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