TradeTech: Catalysing Innovation

This report explores the transformative potential of innovative technologies such as robotics, artificial intelligence, machine learning, automation and the internet of things in revolutionizing global trade.

It emphasizes the need for concerted collaboration among stakeholders in the trade ecosystem to unlock the full potential of these technologies, which could lead to trillions of dollars in additional trade revenue.

The report identifies key challenges in optimizing the global trade value chain and underscores the importance of overcoming network barriers, managing first-mover costs, and creating a trustworthy environment. It also highlights the essential role of enabling regulations and the need for catalytic collaborations and pilot projects.

It stresses the potential for transformation across four areas: logistics, trade finance, carbon reduction, and trade compliance, providing a roadmap for accelerating ecosystem development, fostering open dialogue and engagement, and directing substantial investments towards technological transformation in global trade.

A survey of 335 participants from eight countries identified three obstacles to TradeTech adoption: access to and ability to interpret data, standardization and harmonization of the TradeTech ecosystem, and the affordability of TradeTech. Read the results.