The Dubai Center for Multinational Commodities confirmed today that widespread adoption of smart technology, especially in high-activity business sectors, could contribute to adding capabilities and opportunities valued at $15 trillion to the global economy.
In a press release, the center highlighted global expectations and opportunities for artificial intelligence during a special event on the “Future of Trade” report in Singapore, indicating that increased use of generative artificial intelligence technologies, along with the growth in e-commerce and digital services, will support global trade in the future. Global trade is expected to grow by 2.6% by 2024.
According to the center, the widespread adoption of artificial intelligence will pave the way for a radical transformation in the operational environment. Companies will rely on artificial intelligence to improve supply chain performance, enhance efficiency, and reduce costs using predictive analytics. Artificial intelligence will enable companies to gain comprehensive market insights based on data analytics, allowing them to leverage new business opportunities.
In addition, AI-enhanced trade financing will facilitate and streamline business operations, significantly impacting active business sectors such as computers, electronics, machinery, IT services, transportation equipment, and electrical machinery – all key components in the international trade system and sectors utilizing 90% of current AI-related patent filings.
According to the center’s report, global trading centers such as the UAE and Singapore are expected to see an increase in their influence due to the rise in regional commercial activity and trade blocs globally. With a clear shift towards AI adoption, both centers will benefit from advanced commercial infrastructure, access to global markets, and organizational models that support innovation.
During the report launch, Dr. Hamad Buamim, Chairman of the Dubai Center for Multinational Commodities, emphasized that the transformative impact of technology on global trade cannot be ignored. With the rapid adoption of AI technologies, new opportunities are seen to support trade flexibility in the future, from improving manufacturing management and logistics services to facilitating simplified financial processes.
He noted that this presents a significant opportunity for global trade centers like Dubai and Singapore, where the full potential of artificial intelligence is leveraged to transform commercial infrastructure and strongly support the integration of our companies into their operational systems smoothly.
Freya Ahmadi, Chief Operating Officer at the Dubai Center for Multinational Commodities, stated that the expectations of adding $15 trillion to the global economy by 2030 through artificial intelligence indicate immense potential to support economic growth across a broader value chain.
She reaffirmed that the Dubai Center for Multinational Commodities will continue its efforts to provide a supportive and encouraging work environment to enhance and strongly promote innovation to support the economic capacity of our society, which includes over 24,000 registered companies, in expanding their operations and engaging with global markets in the era of artificial intelligence.
