“This report is a call to action for business and policymakers worldwide to ensure we realise the full benefits of AI in boosting global trade, productivity and skills.
“It identifies a possible AI premium for global economic growth of 12-13% and goods export growth of up to 37% by 2040. AI can boost exports by reducing red tape, speeding up journey times, and cutting customs delays. AI-services are also highly exportable, and can be a major source of growth, in an area where the UK is already a world leader.
“But tariff and technical barriers to trade need to be dealt with to allow AI to realise these full gains. We also need to ensure that electronic transmission of services across the world remains tariff-free.
“Investing in AI, and the skills and training to make use of it, are essential. It is also crucial that supportive supply chains and regulatory frameworks are put in place to promote AI-enabling industries. This includes sectors such as semiconductors, data and energy, only then can the potential set out in the World Trade Report become an economic reality.”
The full WTO World Trade Report can be found here.
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