Page 762 - MOE ENGLISH PR REPORT - OCTOBER 2024

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

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