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Dubai: Data-based AI Innovations have stolen the show at Dubai Forex Expo 2024, paving the way for a whole new era in the trading industry.
With the UAE recognizing data is the "oil of the future”, one of the region's core economic strategies have come to revolve around investing in a robust data infrastructure. The UAE’s Artificial Intelligence Strategy 2031 is set to lead the development of this data-driven foundation, aiming to establish the world’s leading AI research and development hub.
A key initiative aligning with this vision is the recent launch of the DMCC AI Center in Dubai, which will play a crucial role in advancing real-world AI applications across the MENA region. The center highlights AI’s transformative potential in areas such as supply chain optimization, automation, and enhanced market analysis.
“As AI continues to revolutionize the ability to process and analyze large datasets, it is offering significant benefits to both traders and portfolio managers”, said Razan Hilal, Market Analyst, CMT at FOREX.com during a keynote speech she delivered at the 7th edition of Dubai Forex Expo 2024, held at the World Trade Centre in Dubai.
Hilal continues: “Traders are now able to leverage AI’s advanced data processing capabilities to identify new market patterns, optimize trading strategies, and gain deeper insights into price trends and sentiment analysis. On the industry side, portfolio managers can better assess risk, ensure compliance, and enhance operational efficiency. This shift is setting the stage for a new era of market dynamics.”
In alignment with these advancements, the UAE's Ministry of Finance has also identified fintech as a key sector for foreign direct investment (FDI), complementing the region's broader focus on technological innovation. As AI adoption continues to accelerate globally, the need for safe and structured regulations is increasingly recognized, preparing the ground for further growth and stability in both fintech and the wider financial markets.
“As the UAE advances its AI initiatives, the region is positioning itself as a global leader in integrating AI into the markets. This shift signals a major transformation and adopting a robust approach to these new patterns both from an industry and chart perspective will be crucial”, concludes Hilal.
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