The Ministry of Foreign Trade in the UAE has partnered with AI startup Presight to create a trade platform powered by AI, as per a report by WAM on Monday.
The update marks a coming together of UAE government bodies and AI firms to make something meaningful in a local context. Minister of Cabinet Affairs Mohammad bin Abdullah Al Gergawi was present at the formal signing.
“The United Arab Emirates has long recognized the potential of artificial intelligence to transform our economy and drive new efficiencies and new capabilities. Trade is one sector where AI can have the most immediate impact, replacing cumbersome, human-centered processes with real-time data analysis and forecasting to accelerate merchandise movements, reduce disruptions and identify high-potential opportunities,” said Minister of Foreign Trade, Dr Thani Al Zeyoudi.
Presight has been connected to the UAE economy via a $100 million fund created with local investment firm Shorooq focused on AI ventures, and a presence at Gitex North Star 2025, where it had an AI accelerator program that was meant to provide assistance to tech firms who wanted to establish a foothold in the emerging sector.
“The Ministry of Foreign Trade AI Platform will become the gold-standard for the sector – in keeping with the UAE’s status as a global trade facilitator,” said Presight CEO Thomas Pramotedham.