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Artificial Intelligence as an Emerging Technology in Global Trade: The Challenges and Possibilities
Abstract
With Industry 4.0 and now 5.0 technologies, the entire globe is embracing these changes. Artificial intelligence-powered systems have immense potential to eliminate international geographical barriers and prove to influence global trade worldwide. The present study highlights how AI increases productivity, economic development, and provides international trade with new horizons. The global value chains, prediction of future trends like changes in consumer demand, risk management, supply chain links are some of the key applications of AI in the sector. AI empowers international trade negotiations to analyze economic trajectories of negotiating partners, adjustments of trade barriers at different rates and scenarios. The chapter will cover the support of AI to access global trade data, its response to diverse challenges, international expansions through digital platforms, support in translations, mechanism of demand prediction, automation of administration with increased efficiency and utility, smart manufacturing, barriers, and influences.
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