Dubai (Etihad)
The Dubai Multi Commodities Center confirmed that the widespread adoption of artificial intelligence, especially in highly active commercial sectors, would add potential and opportunities worth 15 trillion US dollars to the global economy.
The center stated, in a press release, that during a special event for the “Future of Trade” report in Singapore, it shed light on the expectations and opportunities that artificial intelligence holds globally, noting that the expected expansion in the adoption of generative artificial intelligence techniques, in addition to the broader increase in e-commerce and services trade. Digitalization is all factors that will enhance the resilience of global trade in the coming years.
Global trade is expected to grow by 2.6% in 2024. According to the centre, the widespread adoption of artificial intelligence will pave the way towards a radical change in the operating environment model. Companies will rely on artificial intelligence to improve supply chain performance, enhance efficiency and reduce costs.
According to the center’s report, global trade centers such as the UAE and Singapore will witness a rise in their influence against the backdrop of increased regional trade activity and commercial blocs around the world, and as the advantages of artificial intelligence become more apparent, both centers will benefit from their advanced trade infrastructure, access to global markets, and their models. Organizational support and motivation for innovation.
During the report’s launch event, Dr. Hamad Buamim, Chairman of the Board of Directors of the Dubai Multi Commodities Center, said that the transformative impact of technology on global trade cannot be underestimated, and with the acceleration of the widespread adoption of artificial intelligence technologies and models, we see new horizons of possibilities to support trade resilience in the coming years. From improving manufacturing and logistics management, to forecasting demand, automating procedures, and simplifying trade finance transactions. He added: This provides great opportunities for global trade centers such as Dubai and Singapore, as we harness the full potential of artificial intelligence to digitize our commercial infrastructure and support our operating companies to easily integrate these innovations into their operational systems.
Faryal Ahmadi, Chief Operating Officer at DMCC, said: With artificial intelligence expected to add $15 trillion to the global economy by 2030, there is huge potential across the value chain to support broader economic growth. She stressed that DMCC will continue to strive to provide a supportive and encouraging business system to adopt and strongly promote innovation in a way that supports the ability of our community, which includes more than 24,000 registered companies, to expand and communicate with global markets in the era of artificial intelligence.
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