AI in Trade | 9 July 2024

With the removal of legal barriers to e-documents and the establishment of digital standards, global trade is quickly moving towards a fully paperless system across all sectors and jurisdictions. By 2027, the trading environment will be vastly different—networked, data-driven, and with large amounts of new information available digitally. Applying new analytical techniques will transform this data, previously buried under 4 billion pieces of paper, into actionable insights. Improved data quality and the ability to aggregate and analyse trade data will revolutionise trade, supply chain management, sustainability, cash management, and government enforcement decision-making.

This roundtable brings together key stakeholders in the trade system—shippers, buyers, sellers, financiers, insurers, regulators, governments, port operators, freight forwarders, systems providers, and logistics firms as we aim to explore this technological shift for trade, identifying new possibilities and addressing currently unfeasible ideas that could reshape global business, trade, and finance. AI is expected to significantly contribute to creating a cheaper, faster, simpler, and more sustainable trading system. This session will provide a platform for key trade actors to brainstorm how AI can help industry and government analyse and utilise data in unprecedented ways.