World Trade Centers Association (WTCA), an international trade organization connecting more than 300 World Trade Center (WTC) locations in nearly 100 countries, said Artificial Intelligence (AI) can drive economic growth through enhanced supply chain efficiency.
WTCA tackled the impact of AI on global markets during its recent WTCA Member Forum in New York City.
Peter Swartz, Co-Founder and Chief Science Officer at Altana AI, an AI-powered supply chain visibility platform, emphasized the significant role of modern AI in managing complex global supply chains at the recent WTCA Member Forum in New York City that tackled the impact of AI on global markets.
“Trying to manage across multiple tiers — the production and the distribution of all physical goods on the planet, whether it’s collaborating with partners overseas, whether it’s dealing with disruptions, whether it’s optimizing a given supply chain or a value chain — it’s enormously complex,” Swartz explained.
This year’s Member Forum included presentations such as “AI in Global Trade: A Fireside Chat on Navigating the Future of International Business” and “Transform Your WTC Business with AI”, which explored AI’s transformative potential in global trade and business growth at all scales.
“One of the promises of AI is the ability to handle that complexity at scale. We’re using AI to map out and generate insight on a massive understanding of the global supply chain, make it part site-specific, and enable a world in which trusted networks flow easily across borders,” Swartz shared.
He explained that AI excels at processing and harmonizing vast amounts of complex, multilingual trade data — such as customs declarations, bills of lading, and corporate documents — into a unified understanding of supply chains across multiple tiers.
According to Swartz, AI enables organizations to handle this complexity, facilitating efficient collaboration across borders, optimizing supply and value chains, and addressing critical issues like illicit activities. By leveraging AI, organizations can create resilient ecosystems, foster trusted networks, and drive economic growth through enhanced supply chain efficiency.
He narrated how AI can also play a pivotal role in tracking and reducing environmental impacts, explaining that much of a product’s carbon footprint or environmental impact originates multiple tiers back in the supply chain. AI addresses this by enabling precise life cycle analyses, identifying clean production sources, and providing auditable data that can help businesses comply with regulations where accurate carbon tracking reduces tariffs or credit costs for environmentally friendly products.
A recent report entitled Trading With Intelligence, released by the World Trade Organization (WTO), was aligned with Swartz’s points, showcasing that AI can assist in automating and streamlining customs clearance processes and border controls, navigating complex trade regulations and compliance requirements, and predicting risks. WTCA has partnered with the WTO on initiatives such as promoting the role of MSMEs in international trade through WTO’s Trade4MSMEs website.
“By lowering trade costs, AI can help level the playing field for developing economies and small businesses, helping them to overcome trade barriers, enter global markets, and participate in international trade,” the report says.
Swartz’s presentation underscored the theme “PIONEER the Global Network: Pathways for Innovation, Opportunity, Networking, Empowerment, Excellence, and Resilience” for this WTCA Member Forum. The event’s panel discussions and presentations provided essential tools to navigate the ever-changing global business landscape, with sessions delving into emerging trends in global business, best practices and collaborative opportunities across markets, and offering actionable insights to help members strengthen their roles locally and elevate WTCA’s global influence.
