Abu Dhabi [UAE], February 5 (ANI/WAM): Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, has underscored the transformative role of advanced technologies particularly artificial intelligence (AI) in driving a new era of smarter, faster, and more efficient global trade and how the UAE is taking the lead on their implementation.
Speaking at the inaugural Plug and Play Middle East Summit, an event that brought together industry pioneers, government officials, and investors to showcase innovations shaping the economy of tomorrow, Al Zeyoudi emphasised the urgent need for the international trading community to harness the power of startups and release the value that is being locked away by outdated systems and human-centric processes.
Al Zeyoudi stated: "The UAE recognises that trade is undergoing a complete transformation, driven by new technologies, automation, and digital innovation. It is vital we empower entrepreneurs and startups to develop cutting -edge solutions that enable smarter, faster, and more inclusive global trade while establishing the regulatory frameworks and interoperable systems needed to deploy them. Through the TradeTech Initiative, launched in partnership with the World Economic Forum, we are accelerating these efforts, including the establishment of the TradeTech Accelerator and a Regulatory Sandbox. Their success can unlock new opportunities for commerce across the world.."
He continued: "The TradeTech Accelerator, developed in collaboration with Plug and Play, is already yielding results. From a pool of 1,500 top-tier startups worldwide, we have identified 14 high-potential ventures pioneering AI-driven logistics, blockchain-powered trade finance, and digital supply-chain optimisation. Their agility and creativity will not only enhance supply chains but also reaffirm the strength of the UAE's innovation ecosystem."
The summit included a series of fireside chats and panel discussions, bringing together leading figures from technology, investment, and trade to explore AI's evolving role in entrepreneurship. Discussions covered a wide range of topics, from fintech trends and blockchain to the transformative impact of AI on industries and its role in augmenting human capabilities. (ANI/WAM)
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor