AI may boost global trade by nearly 40% by 2040: WTO report

Artificial intelligence (AI) could boost the value of trade in goods and services by nearly 40 per cent by 2040, but without adequate policies it could also exacerbate economic divides, a new World Trade Organization (WTO) report warned on Wednesday.

- OLIVIA LE POIDEVIN

Lower trade costs and enhanced productivity could drive substantial increases in trade and GDP by 2040, with global trade projected to rise by 34-37 per cent under various scenarios, according to the WTO's World Trade Report.

Global GDP could also increase by 1213 percent, it said.

“AI could be a bright spot for trade in an increasingly complex trading environment,” said the Deputy Director General of the WTO, Johanna Hill, commenting on the annual report that analyses trends in the multilateral trading system.