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10/16/24, 9:30 AM Al Zeyoudi urges more innovation for resilient global trading system - GulfToday

Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, has highlighted the
importance of governments, businesses, and international organisations working together to
invest in digital infrastructure, support innovation, and integrate tools such as Artificial
Intelligence (AI) to develop a modern, resilient, and future-proof global trading system.

Dr Al Zeyoudi made these remarks during a knowledge-sharing session as part of the
TradeTech Initiative, the three-year global project led by the World Economic Forum (WEF),
the UAE Ministry of Economy, and the Abu Dhabi Department of Economic Development
(ADDED).

AI is the core theme of the TradeTech Initiative’s second year, reflecting its emerging influence
on the logistics sector. Titled “AI and Global Trade: Future of TradeTech”, the session
gathered industry experts, technology practitioners, and thought leaders to offer insights on
where AI’s transformational potential can best be harnessed-and where its impact on supply-
chain efficiencies is already being felt. For instance, AI tools are enabling companies to
source and evaluate new suppliers based on size, location, and relevant certification, and
even automate negotiations using chatbots to provide and agree on transportation quotes.

In his address to launch the knowledge-sharing session, Dr Al Zeyoudi emphasised the case
for AI’s adoption throughout global trade. “Artificial intelligence enables us to fast-forward into
the future. We can leave behind cumbersome legacy systems that stifle growth and dampen
productivity. Its impact on supply chains is already clear, optimising shipping routes,
anticipating disruptions, and sorting shipments. But so far, its integration has been piecemeal
and fragmented. In front of us is the opportunity to come together as policymakers, trade
bodies, logistics hubs, and private businesses and reshape international commerce-from its
digital infrastructure to its regulatory frameworks,” he said.

“Today’s discussions, and the wider TradeTech Initiative, will play an important role in inspiring
the change this requires. It is our responsibility to now harness these ideas and drive forward
global trade for the benefit of all,” Al Zeyoudi added.

The discussions during the knowledge-sharing session, which will inform the second
TradeTech Initiative Report, covered the impact of AI on global trade regulations, the
preparedness of emerging markets for digitised trade, AI’s role in improving trade forecasting,
and how companies can bridge emerging skills gaps in their workforces.

The featured speakers included Tim Stekkinger, Head of TradeTech Initiative at the World
Economic Forum, Prof. Marek Kowalkiewicz, Founding Director of the Centre for the Digital
Economy at Queensland University of Technology, Wolfgang Lehmacher, an international
expert in supply chain and logistics, and Philippe Isler, Director of the Global Alliance for
Trade Facilitation.

WAM

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