- Sultan Ahmed Bin Sulayem participating in Dubai Metaverse Assembly:
- Digitalizing logistics sector will make trade smarter and more transparent.
- Stepping into the metaverse will cement Dubai’s position as a global trading hub
Dubai: The metaverse presents a huge opportunity to solve real-world supply chain bottlenecks, Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer of DP World, said at the first Dubai Metaverse Assembly.
Speaking at a fireside chat, Bin Sulayem reiterated the power of technology to create equal economic opportunities and cement Dubai’s position as a global trade hub in the digital age.
“Over the past decade, we have seen the power of data and technology enabling global transparency,” he said. “Especially in the last two years, global supply chains have undergone turbulent moments because of the pandemic and geopolitical tension. Now more than ever, businesses and governments are ready to embrace technologies that will boost the resiliency and sustainability of our supply chains,” he added.
According to The Analysis Group, the metaverse could add USD 3 trillion to the global economy within a decade. “I believe it will be far more,” said Bin Sulayem, as more industries acknowledge the need to move away from archaic technologies and paperwork.
“We are exploring the usage of the metaverse across our services, including simulations of warehousing and terminal operations, container and vessel repair inspections, safety training, and other commercial uses,” he said. “Our customers will now be able to see and understand the whole supply chain from end to end – with full visibility – and take corrective actions in case of logistics bottlenecks. By using this technology, we hope to keep trade flowing, increase visibility and minimize disruption to build trade networks fit for the future.”
To build new digital solutions, DP World has opened a new technology center in Bangalore, India, its second tech office in the region, and plans to launch a third in the coming months.
“We are digitalizing a traditionally analogue industry to make trade smarter and more transparent,” he explained. “We no longer need to be bound by physical marketplaces or customer interactions; instead, we can reach an unlimited number of new markets and customers.”
At DP World’s new Trader’s Market in Jebel Ali Freezone, shoppers can have an immersive shopping experience across 1,600 showrooms using the metaverse. “We can open this to an unlimited number of customers around the world. Through the metaverse, we can expand our reach into new markets.”
The Dubai Metaverse Assembly runs on 28 and 29 September 2022 at the Museum of the Future and AREA 2071, Emirates Towers, Dubai. It brings together more than 500 experts and specialists, 40 local and global organizations and more than 30 international speakers.