Global Trade and Supply Chain Summit highlights importance of investment in artificial intelligence

The sessions of the second day of the World Trade and Supply Chain Conference, which was organized by the Economist Impact Foundation in collaboration with the Academy of the New Economy, and which concluded its work on what in Dubai, on several topics, especially financing a sustainable future. trade, using artificial intelligence and smart robots to enhance delivery network operations, and reestablish… Improving the skills of workers in the field of supply chains in the age of artificial intelligence, and promoting trade through new technical customization.

In the opening session, titled “Managing hidden factors: How can Digital Tools shed light on emissions 3?” and moderated by Swarup Gupta, Regional Director and Senior Analyst, Financial Services , Economist Intelligence, on methods and procedures that companies can follow to reduce their environmental footprint, and how to improve their abilities to measure and manage Area 3 emissions.

The session discussed the practical steps that companies need to follow to achieve the principle of transparency when dealing with the issue of environmental footprint, and how to start doing so in a thoughtful way without delay until they reach an overall view of the action plan to reduce their environmental footprint.

In a session titled “Exploring the Power of Data in the Digital Economy,” Dr. Leila Faridoun, CEO of the New Economics Academy, reviewed how companies use data to improve supply chains and prevent disruptions. tell quickly.

Sustainable trade finance in the future
The session, entitled “Financing Sustainable Trade in the Future,” discussed a number of topics that highlighted the significant increase in the volume of sustainable trade, and the reasons for the growing interest by companies in it. the environmentally friendly materials and technologies that are able to adapt to global trends in environmental protection and the reduction of carbon emissions.

A panel discussion titled “Artificial Intelligence in the Field: Improving Supply Chains to Achieve Efficiency, Speed ​​and Agility” reviewed the role of artificial intelligence in improving freight transportation, and the challenges companies face for investment made in this new section.

Strengthening delivery networks
On the second day of the World Trade and Supply Chain Conference, Prashant Saran, Executive Director of Stores in the Africa, Middle East and Turkey region at Amazon, spoke at a discussion session about the use of artificial intelligence and tools artificially to enhance the operation of the delivery network.

Prashant Saran said during the discussion by Melanie Noronha, Head of Policy and Insights at the Economist Impact, that supply chain management based on artificial intelligence allows the first pioneers in this sector to improve logistics costs by 15%, investment levels 35%, and 15% service levels 65%, based on a McKinsey report.

Skills development
In the session, “Reshaping the Skills of Supply Chain Workers in the Age of Artificial Intelligence,” several topics focused on the business development opportunities offered by artificial intelligence, while ‘ deal with the fears that dominate people about ability. job cuts.

Speakers at the session explained that artificial intelligence has been used for a long time to increase business and performance efficiency within supply chains, highlighting another issue related to the human factor because there is a huge gap in skills among workers, who want. the need for more analytical and strategic experts, as well as experts in geography. The session touched on the steps that need to be followed to achieve harmony between the human element and the accelerated use of artificial intelligence, which will contribute to gaining a strategic advantage for the efficiency of supply chains.

Execute a transaction
The session “Reviving Trade through Technical Innovation” discussed developments in artificial intelligence, blockchain technology, the Internet of Things, and cybersecurity and their role in bringing about radical changes in global trade.