According to Amac News: Speaking at the inaugural Plug and Play Middle East Summit, which brought together industry leaders, government officials and investors, Al Zeyoudi stressed the urgent need for the international business community to harness the power of startups and unlock value locked by legacy systems and human-centric processes.
He said: “The UAE is well aware that business is undergoing a complete transformation, driven by new technologies, automation and digital innovation. It is imperative that we empower entrepreneurs and startups to develop innovative solutions that will make global trade smarter, faster and more inclusive.”
The UAE Minister of State for Foreign Trade also stressed the need to establish the necessary legal frameworks and cross-functional systems to implement these initiatives.
He added that through the TradeTech Initiative, launched in partnership with the World Economic Forum, the UAE is accelerating these efforts, including the establishment of the TradeTech Accelerator and a Regulatory Sandbox, the success of which, he said, could create new opportunities for global trade.
Al Zeyoudi continued: “Out of the top 1,500 startups globally, we have identified 14 high-potential companies that are pioneering AI-powered logistics, blockchain-based trade finance and digital supply chain optimization.”
Plug and Play Middle East included a series of talks and discussion panels that brought together leading figures from technology, investment and business to explore the evolving role of AI in entrepreneurship. Discussions covered a wide range of topics, from fintech and blockchain trends to the transformative impact of artificial intelligence on industries and its role in enhancing human capabilities.