Source: World Economic Forum

World Economic Forum outlines the growing influence of artificial intelligence (AI) on global trade policies and calls for urgent action from governments and international organizations to adapt their trade frameworks. As AI continues to revolutionize industries from manufacturing to financial services, the need for updated trade policies that reflect the digital economy has become increasingly urgent.

The article highlights several key challenges, including the need for uniform regulations that ensure fairness in AI-driven trade practices, the protection of intellectual property in cross-border transactions, and the mitigation of risks such as algorithmic bias and data privacy breaches. The World Economic Forum (WEF) emphasizes the importance of creating multilateral agreements that address these issues, as well as the need for public-private partnerships to foster innovation while ensuring ethical AI use.

The WEF also calls for greater transparency in AI systems used in global trade, particularly those involved in supply chain management and logistics. By promoting responsible AI adoption, the WEF argues that AI can enhance global trade efficiency, reduce costs, and open new markets. However, the article stresses that without coordinated global action, AI could exacerbate inequalities and create new barriers to trade.