Wednesday 22nd January 2025
Streamlining customs compliance and better forecasting demand are just some of the advantages Artificial Intelligence (AI) brings to global trade. This new technology creates new levels of efficiency and could transform our sector.
But it’s not just trade that could benefit, as highlighted by Aiman Ezzat, Chief Executive Officer, Capgemini, during the ‘Lift-off for Tech Interdependence’ session at the World Economic Forum (WEF) on Tuesday, January 21. “Think about the new wearables in healthcare which are capturing information in real time,” he shared as an example. “This data is being analysed by AI systems to identify and flag patterns that can anticipate potential issues or symptoms in terms of diseases, to move towards preventive versus hospitalised treatment.”
The potential is huge. But only if these AI resources are made accessible to everyone.
THE AI TRADE-OFF
Discussions at this year’s World Economic Forum Annual Meeting highlight the balance that must be struck when adopting AI. This technology benefits those who can afford it; without deliberate action to ensure all markets benefit, the promise of AI – and the progress it could enable – could enhance inequality rather than reduce it.
How, then, do we ensure AI becomes a game-changing tool that creates stability and equality? Understanding the barriers to adoption is key.
As Paula Ingabire, Minister of Information Communications Technology and Innovation of Rwanda, pointed out during ‘Reinventing Digital Inclusion’ on Tuesday, January 21: “There’s a need for regional and global collaboration to mitigate the risks of AI, such as through safeguards and guardrails. For Rwanda, we are focused on finding use cases that will transform public sector delivery. And from this place of understanding, we can inform legislation which will unlock purposeful innovation in the private sector. Partnerships are vital for doing this.”
Yet these barriers are why we must remember the universal promise of AI in trade. While companies work in silos, and focus on their own goals, we risk increasing the divide between the haves and have-nots. Evidently, there’s a role for global leaders like DP World to set the standard, leaning on our international connectivity to encourage greater communication and ensure relevant technologies become accessible for all.
INDUSTRY'S ROLE IN A SMARTER, FAIRER FUTURE
We are committing to this stance through action, using our global trade network to unlock the benefits of this new technology for everyone. For example, our work in Rwanda with the Kigali Logistics Platform, a supply chain synchronisation tool, delivers 20% cheaper logistics costs and 30% faster delivery times. As Ingabire also noted on Tuesday: ‘‘Trade operators like us can work with communities to aggregate demand and build relationships with manufacturers to overcome affordability challenges in tech at every level.”
This week the WEF published its Blueprint for Intelligent Economies – AI Competitiveness through Regional Collaboration whitepaper, providing guidance for nations to achieve a successful AI revolution. The report outlines a number of strategic objectives designed to support every stage of the AI journey: innovation, development, deployment and adoption at the national, regional and global levels.
Other peers are joining this cause, using their reach and expertise to ensure AI becomes a universal efficiency generator rather than a divider – which Solly Malatsi, Minister of Communications and Digital Technologies of South Africa, welcomes.
UPGRADING THE AI SHIFT
The Intelligence Age will only be as powerful as it is inclusive. The time to act is now – because global resilience depends on it. While change is already afoot, we need greater collaboration in the form of public-private partnerships to accelerate universal AI access – and trade can be the vehicle for that.
To sustain the benefits of this new technology, upskilling future generations with Science, Technology, Engineering and Mathematics (STEM) education is essential – as is training current employees in whatever market they operate in. There’s no question about it: AI’s potential is enormous. But so are the risks if we don’t move forward with an inclusive mindset. By working together and thinking ethically about this technology’s applications, we can create a resilient, innovative ecosystem for trade and other world industries that benefit everyone.