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10/16/24, 9:31 AM Thani Al Zeyoudi underscores AI’s transformative power during TradeTech knowledge-sharing session – UAE Business and Travel…
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.

Tim Stekkinger, Head of the TradeTech Global Initiative at the World Economic Forum, stated, “Artificial
intelligence is not merely a tool for tackling trade’s traditional challenges—it’s a catalyst for reimagining trade
as we know it. Through robust public-private partnerships and collaboration across the entire trade ecosystem—
from producers to policymakers, logistics providers to consumers—we can harness AI’s full potential to create a
more efficient, sustainable, and inclusive global trade landscape that drives shared prosperity for all.”

The TradeTech Initiative was launched by the Ministry of Economy in collaboration with the World Economic
Forum and the Abu Dhabi Department of Economic Development at Davos in January 2023, with the goal of
inspiring the integration of advanced technologies throughout global supply chains. The first year of the
initiative resulted in the first TradeTech Report and the inaugural TradeTech Forum in Abu Dhabi, which
coincided with the 13th Ministerial Conference of the WTO.

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