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10/16/24, 9:33 AM Thani Al Zeyoudi underscores AI's transformative power during TradeTech knowledge-sharing session
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.

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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