Dubai Multi Commodities Centre (DMCC), the Dubai authority for commodities trading and business, has partnered with Dubai-based artificial intelligence company QX Lab AI to launch the DMCC AI Centre later this year.
The new partnership precedes the anticipated opening of the DMCC AI Centre later this year, serving as Dubai’s innovation hub for the global AI industry.
“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,” said Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC.
QX Lab AI, founded in 2018, is an Indian-origin AGI (artificial general intelligence) company that focuses on advancing generative AI capabilities and user empowerment.
Through its ‘Ask QX’ platform, QX Lab AI offers GenAI capabilities that can be integrated into services like online chat functions or used by businesses and individuals to enhance productivity.
The company said its neural architecture offers scalability, reduced computational power costs, platform security, and protection against data breaches. QX Lab AI aims to become the first AGI company to access and leverage 372 billion parameters.
“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,” added Tilakraj Parmar, Co-founder and CEO, QX Lab AI.
Dubai’s DMCC, an interconnected free zone and trade hub, offers high-end properties and high-performance business services to Dubai residents. The DMCC Crypto Centre, home to over 600 Web3 firms, is the largest concentration of crypto and blockchain companies in the region. Since its launch in 2023, the DMCC Gaming Centre has welcomed over 100 gaming companies.
Source: YourStory
