Plug and Play Middle East Summit: UAE Minister champions role of technology in trade
UAE Minister Highlights AI's Role in Global Trade
Thani bin Ahmed Al Zeyoudi at Plug and Play Middle East Summit
In Abu Dhabi, UAE Minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi, spoke at the Plug and Play Middle East Summit about the transformative impact of advanced technologies, especially artificial intelligence (AI), on global trade. He emphasized the UAE's leadership in implementing these technologies to create smarter, faster, and more efficient trade systems.
Al Zeyoudi highlighted the importance of empowering startups to develop innovative solutions for global trade, while also establishing necessary regulatory frameworks. He mentioned the TradeTech Initiative, a collaboration with the World Economic Forum, which includes the TradeTech Accelerator and a Regulatory Sandbox to foster these advancements.
The TradeTech Accelerator, developed with Plug and Play, has already identified 14 promising startups from a pool of 1,500, focusing on AI-driven logistics, blockchain trade finance, and digital supply-chain optimization. These startups are expected to enhance supply chains and strengthen the UAE's innovation ecosystem.
The summit featured discussions on AI's role in entrepreneurship, covering topics like fintech, blockchain, and AI's impact on industries and human capabilities.
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UAE
UAE stands for the United Arab Emirates, which is a country in the Middle East made up of seven smaller regions called emirates. It is known for its modern cities like Dubai and Abu Dhabi.
Thani bin Ahmed Al Zeyoudi
Thani bin Ahmed Al Zeyoudi is a government official in the UAE. He works on projects related to trade and the environment, helping the country grow and develop.
AI
AI stands for Artificial Intelligence, which is a type of technology that allows computers to think and learn like humans. It is used in many areas, including trade, to make processes faster and smarter.
Plug and Play Middle East Summit
The Plug and Play Middle East Summit is an event where people come together to talk about new technologies and ideas. It focuses on how these can be used in business and trade, especially in the Middle East region.
TradeTech Accelerator
The TradeTech Accelerator is a program designed to help new businesses, called startups, grow and succeed. It is a joint effort by the UAE and Plug and Play to support innovation in trade.
Startups
Startups are new companies that are just beginning to develop. They often focus on innovative ideas and technologies to solve problems or create new products.
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