Version 1
: Received: 26 September 2024 / Approved: 26 September 2024 / Online: 26 September 2024 (13:20:32 CEST)
How to cite:
Ozturk, O. The Impact of AI on International Trade: Opportunities and Challenges. Preprints2024, 2024092123. https://doi.org/10.20944/preprints202409.2123.v1
Ozturk, O. The Impact of AI on International Trade: Opportunities and Challenges. Preprints 2024, 2024092123. https://doi.org/10.20944/preprints202409.2123.v1
Ozturk, O. The Impact of AI on International Trade: Opportunities and Challenges. Preprints2024, 2024092123. https://doi.org/10.20944/preprints202409.2123.v1
APA Style
Ozturk, O. (2024). The Impact of AI on International Trade: Opportunities and Challenges. Preprints. https://doi.org/10.20944/preprints202409.2123.v1
Chicago/Turabian Style
Ozturk, O. 2024 "The Impact of AI on International Trade: Opportunities and Challenges" Preprints. https://doi.org/10.20944/preprints202409.2123.v1
Abstract
This study examines the transformative potential of Artificial Intelligence (AI) in international trade, highlighting its significant roles in optimizing trade operations, enhancing trade finance, and improving market access. In trade optimization, through advanced machine learning and predictive analytics, AI helps in demand forecasting, route optimization, and customs processes, ensuring efficient logistics and inventory management. In trade finance, AI automates document processing and risk assessment, democratizing access to finance and enhancing transactional transparency through integration with blockchain technology. In improving market access, AI-driven analytics identify consumer trends and competitive dynamics, enabling personalized marketing and overcoming linguistic and cultural barriers. The study includes case studies of leading companies such as Alibaba, DHL, and Maersk, showcasing how they leverage AI to enhance their trade operations, improve customer service, and achieve greater efficiency. These real-world examples demonstrate AI's practical applications and significant benefits in the global trade landscape. However, the adoption of AI in international trade is not without challenges. These include data quality, ethical considerations, technological complexity, and public perception. Ensuring high-quality, accessible data, fostering ethical AI usage, and overcoming technological and regulatory barriers are crucial for successful AI integration. Policy recommendations emphasize the need for robust data infrastructure, ethical AI guidelines, and international cooperation to harmonize data protection regulations. These measures aim to create an environment conducive to AI-driven sustainable economic growth and innovation in global trade.
Keywords
artificial intelligence; AI; international trade; AI case studies; AI-driven logistics; trade operations optimization
Subject
Business, Economics and Management, Economics
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
