The World Trade Organization (WTO) has highlighted the potential of Artificial Intelligence (AI) to significantly boost global trade, predicting a 37% increase in exports and imports by 2040.
According to the WTO’s latest World Trade Report, AI can enhance efficiency by providing transparency in supply chains, automating customs procedures, and simplifying compliance with complex regulations.
The report indicates that AI’s impact will be most pronounced in digital services trade, with potential growth of up to 42%.
For processed goods, the projected increase is around 24%, while raw material trade is expected to see a 10% boost.
However, WTO Director-General Ngozi Okonjo-Iweala warned that without proactive measures, AI could exacerbate inequalities between rich and poor countries, as well as within nations.
The report noted that digital infrastructure, technology, and skilled personnel are currently concentrated in a few higher-income countries, advocating for targeted educational programs and strategies to mitigate these disparities.
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