Global Trade: Opportunities and Imbalances with Artificial Intelligence
Artificial Intelligence (AI) has no doubt changed the trajectory of different areas of society including global trade. According to a report by the Allianz Trade Global Survey 2024, some of the worldās economic giants are positive that AI will super-charge global trade, with the potential to increase export opportunities, improve supply chain management, and facilitate communication.
The International Trade Administration has estimated that AI will add up to $15 trillion to the global market by 2030, and productivity gains are to increase by 0.2% according to Allianzās report. The introduction of AI will support digital trade, and help global value chains to function properly, although employing artificial intelligence may not be a smooth transition for most companies and nations due to factors like the digital divide, geopolitics, and election year tariff.
Read more on how the AI boost to global trade might also widen imbalances.
