Dubai Multi Commodities Centre (DMCC) & QX Lab AI Join Hands to Offer Hybrid Generative AI Solutions to Businesses

• First collaboration signed between DMCC and QX Lab AI to provide new AI solutions for DMCC member companies
• Generative AI capabilities centred on Ask QX platform in boost to business efficiency, productivity, platform security and cost reduction
• New partnership comes ahead of expected launch of DMCC AI Centre later this year, to serve as leading innovation hub for global AI industry in Dubai

Dubai Multi Commodities Centre (DMCC) – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has partnered with the Dubai-based artificial intelligence firm QX Lab AI as it gears up to launch the DMCC AI Centre later this year.

Through its ‘Ask QX’ platform, QX Lab AI offers generative AI capabilities that can be integrated into services such as online chat functions or used by businesses and individuals to enhance productivity. Ask QX’s unique neural architecture offers unprecedented scalability for the product, providing a digital infrastructure that can benefit firms by reducing overall computational power costs, building up platform security, and creating a protective shield against potential data breaches. With this groundbreaking technology, QX Lab AI aims to become the first AGI company in the world to access and leverage 372 billion parameters.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC said: “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. This is just one example of the innovations we are pioneering from DMCC, reinforcing Dubai’s status as one of the world’s leading technology and AI hubs for years to come.”

Tilakraj Parmar, Co-Founder and CEO, QX Lab AI, added: “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.”

DMCC has created a range of innovation-focused ecosystems to advance Dubai’s status as a driving force in the development and adoption of next-generation technologies and industries. The DMCC Crypto Centre is home to over 600 Web3 firms, making it 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, from developers and publishers to esports teams and software engineers, positioning Dubai as a hub for the immersive form of entertainment.

About QX Lab AI:

Founded in 2018, QX Lab AI is a cutting-edge AGI company founded by Indian-origin innovators, that stands at the forefront of advancing generative AI capabilities and dedicated to pushing the boundaries of AI technology while prioritizing user empowerment. With a commitment to innovation and inclusivity, the company aims to create transformative Generative AI solutions that cater to diverse global needs. The company is driven by the belief that AI should not only be powerful but also accessible to people from all walks of life, contributing to the betterment of society as a whole. Visit: https://qxlabai.com/

About DMCC

Headquartered in Dubai, DMCC is the world’s most interconnected Free Zone, and the leading trade and enterprise hub for commodities. Whether developing vibrant neighbourhoods with world-class property like Jumeirah Lakes Towers and the much-anticipated Uptown Dubai, or delivering high performance business services, DMCC provides everything its dynamic community needs to live, work and thrive. Made for Trade, DMCC is proud to sustain and grow Dubai’s position as the place to be for global trade today and long into the future. www.dmcc.ae