The World Trade Organization (WTO) Secretariat recently hosted its first conference focused on the relationship between artificial intelligence (AI) and global trade. The event marked the release of a new report titled "Trading with Intelligence: How AI Shapes and is Shaped by International Trade." This report examines how AI could potentially influence international trade by reducing costs through improved logistics, regulatory compliance, and business communication.
In her opening remarks, WTO Director-General Ngozi Okonjo-Iweala discussed the significant societal and economic changes brought about by AI. She highlighted its increasing presence in various sectors such as autonomous vehicles, precision farming, healthcare, education, and scientific research. Okonjo-Iweala stated that "AI could lower the barriers to market entry, providing more small businesses with the opportunity to participate in international trade." She further mentioned that the report includes case studies demonstrating AI's application in detecting supply chain disruptions, tracing product carbon footprints, and streamlining customs procedures.
Baroness Maggie Jones of Whitchurch delivered a keynote speech emphasizing how the UK government is integrating technology into its economic growth strategy. She noted AI's potential to break down trade barriers and promote inclusive economic development. Baroness Jones remarked: "There is no doubt that AI will change our societies and our economies... By working together, we can make that ambition a reality."
The conference featured several sessions discussing various aspects of AI's impact on international trade. These included discussions on AI's effects on services trade policy, improvements in customs operations, enhancements in food and agriculture systems, challenges to intellectual property frameworks due to digital products' trade, standards for trustworthy AI use, and global cooperation for AI governance.
Additionally, attendees heard from Dani Verdari during a fireside chat about using AI for creative content generation on social media platforms. Presentations from Google and Maersk showcased innovative applications of AI in optimizing business operations.
Full details are available online.