The UAE intends to launch a new platform for foreign trade supported by artificial intelligence

The UAE intends to launch a new foreign trade platform powered by artificial intelligence to stimulate its non-oil trade with the world.

In the presence of the Minister of Cabinet Affairs, Mohammed Al Gergawi, the Ministry of Foreign Trade signed an agreement with the “Brisight” company, which specializes in artificial intelligence solutions and is affiliated with the UAE G42 Group, to build this platform that fully adopts artificial intelligence tools, to facilitate foreign trade procedures to be faster, smarter and more flexible, and to contribute to consolidating the UAE’s position as a global center for international trade.

The Ministry of Foreign Trade’s artificial intelligence platform is one of the eight strategic pillars of the UAE Global Trade Center Program, which was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, “may God protect him”, last November, with the aim of strengthening the UAE’s position as a global gateway for flows of goods and services, accelerating the achievement of national targets related to foreign trade, and opening new markets for the country’s exports.

The Minister of Foreign Trade, Dr. Thani bin Ahmed Al-Zeyoudi, said that the upcoming launch of the Ministry of Foreign Trade’s artificial intelligence platform is an important part of the ministry’s plan to provide data and forecasts based on documented analytical information about global trade trends, for the benefit of the business community, companies and exporters in the country.

Al-Zeyoudi added: “The UAE has realized the potential of artificial intelligence to enhance economic growth, and trade is one of the sectors in which artificial intelligence can have a tangible positive impact, by replacing long, routine processes that rely on human capabilities with faster and more efficient mechanisms through real-time data analysis and forecasting capabilities that accelerate the movement of goods, reduce disruptions, and identify high-potential opportunities.”

He stressed that the partnership with Brisight to launch the artificial intelligence platform for the Ministry of Foreign Trade will contribute to achieving national goals related to foreign trade, enhance the country’s role as a primary hub in global supply chains, and create a model of excellence for other trading countries to emulate.

For his part, Vice Chairman of the Board of Directors of Brisight Company, Mansour Al Mansouri, confirmed that the new artificial intelligence platform that the Ministry of Foreign Trade intends to launch will work to enhance the UAE’s leadership and its pivotal role in global supply chains.

He said: “The future of trade will belong to the economies that are able to anticipate the future early and move quickly to ensure that they benefit from future opportunities. By making immediate information available to decision makers, the platform will enable government agencies and companies to work with confidence to take advantage of these opportunities. In this way, we can turn artificial intelligence into a competitive advantage, and make speed, flexibility and quality a valuable contribution from the UAE to building a faster, more comprehensive and efficient global trading system.”

For his part, BriSight CEO Thomas Pramutidham said that the partnership with the Ministry of Foreign Trade to launch this promising platform is evidence that the UAE is at the forefront of beneficiaries of artificial intelligence applications.

He added: “This partnership represents an important milestone, not only for the company and the Ministry of Foreign Trade, but for the global trade system as a whole, as it contributes to providing new operational solutions that can launch a new era of smooth global trade, whether by reducing disruptions that cost economies billions of dollars or by aligning demand with supply immediately.”

The platform is set to be integrated across all core functions of the Ministry of Foreign Trade in its quest to become the world’s first AI-led Ministry of Commerce.

The platform analyzes millions of data points received from ports, shipping routes, international laws, trade agreements, customs records, etc., in real time, to provide relevant agencies in the government and private sectors with detailed analytical information and insights.

This platform helps stakeholders anticipate potential challenges in international trade and identify new growth opportunities. It will also help companies and exporters understand the rules, regulations, and market access requirements in various regions of the world, and across the trade systems in effect in each region, while providing artificial intelligence-based services to exporters such as smart certificates of origin. Through the platform, the Ministry of Foreign Trade will benefit from enhanced data analysis capabilities that support policy formulation and negotiation to conclude trade agreements that benefit the national economy.

The Emirates Global Trade Center program includes a set of ambitious long-term initiatives to build on the successes witnessed by the UAE foreign trade sector, enhance non-oil exports, attract international trade and manufacturing companies, empower exporters through new technologies and tools, and open new markets around the world.