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Impact Of Technology To Be Focus Of Dubai Diamond Conference

The Almas Tower in Dubai

The Dubai Multi Commodities Centre (DMCC) announced that the fourth edition of its Dubai Diamond Conference (DDC) will take place on September 26. The one-day conference will gather global industry professionals to discuss the impact of technological innovation on the diamond industry, its supply chain and future prospects.

Fluctuating prices and profitability combined with increased compliance requirements has seen the diamond industry go through a period of profound change. The pervasiveness of disruptive technology is also significantly altering the traditional methods of diamantaires around the world, especially in terms of processing, valuation and trade.

The DMCC said it is expecting over 400 delegates to register for the DDC to debate modern market forces and examine how best diamond companies can adapt to remain competitive. The conference will also touch on the rise of lab-grown diamonds and their value proposition to a niche consumer base, in addition to the social value created by the diamond industry.

“We realise that the industry is at an inflection point. The objective of the Dubai Diamond Conference is to convene the industry, debate the state of the current market and understand how best to adapt. Diamonds are formed under great pressure and the insights shared during DDC will help charter a path for the growth of the industry,” said DMCC Executive Chairman and CEO Ahmed Bin Sulayem.

He added, “Technology holds one of the keys to unlocking the potential within the current challenging diamond sector. We acknowledge that adopting the latest innovations will help diamond specialists redefine the supply chain and in return, realise untapped opportunities.”

September is a significant month for Dubai and its relationship with the international diamond industry. Immediately before the DDC, the World Federation of Diamond Bourses (WFDB) and International Diamond Manufacturers Association’s (IDMA) Presidents Meeting takes place in the emirate on September 24 and 25.

On the evening of September 25, the DMCC will also officially unveil its redesigned and upgraded Dubai Diamond Exchange (DDE), a state-of-the-art trading floor located in Almas Tower, Jumeirah Lakes Towers.

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