Jun 25, 2019

Dubai Diamond Conference in September 2019 to Focus on Disruption and Technology in Diamond Industry

This year’s Dubai Diamond Conference (DDC), which will take place on September 26, will focus on the disruption occurring in the diamond industry on account of factors such as technology, commercial or market forces. The event is expected to bring together nearly 400 delegates from across the world and from different segments of the industry.

Setting the context for the event, DMCC said in a statement, “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.”

Industry professionals will discuss the impact of these changes on the diamond industry, its supply chain and future prospects at the one-day meet, DMCC added.

The conference coincides with two other significant industry events. Firstly, it is being held immediately after the Presidents’ Meeting of the World Federation of Diamond Bourses (WFDB) and International Diamond Manufacturers Association’s (IDMA), which is being held in Dubai on September 24-25.

Further, on the evening of 25 September, 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.

“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,” said Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC.

“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. Situated at the crossroads of the world, Dubai has become one of the leading diamond trading hubs so there simply is no better place to have this important discussion,” he added.

DMCC said that the conference will open with keynote speeches by diverse specialists who will provide a synopsis of the current global diamond industry and compare it to others that have faced similar challenges. This will be followed by three engaging panel discussions where speakers will shed light on the latest trends in the diamond supply chain, including mining, polishing and trading, as well as process automation and technology-based judgement. 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.

More details are available at www.diamondconference.ae