In this episode of the AI Adoption Podcast, I interviewed Marco Forgione, Director General of the Chartered Institute of Export & International Trade. Marco’s extensive experience and knowledge provides deep insights into the strategic use of AI in international trade. He argues that AI is fundamentally changing international trade and provides examples such as companies like Maersk that are using AI for predictive logistics to AI-enabled customs systems in Kenya. We discuss the challenges faced by businesses, particularly micro, small and medium sized enterprises (MSMEs), in adopting AI technologies and ways in which business leaders can address these challenges.
“AI is already transforming shipping, agriculture, and professional services, it’s not science fiction, it’s happening now.” Marco Forgione
One area that often receives little attention is the impact of AI on professional services that support international trade. Jobs and employment in these sectors will be affected, as processes are automated and simplified, with the emergence, for instance, of fully autonomous supply chains, autonomous vehicles, ports and digital customs operations. Our conversation explores the regulatory landscape and the role of government policy in facilitating AI adoption to enhance trade efficiency and economic growth. This raises the risk of the UK and the EU being left behind considering competition from the US and China. For many organisations trading internationally, the cost and skills gaps are holding them back and there is a need for the UK to ensure joined-up policy making.
Marco’s central point is clear: the technology is ready; what’s needed is leadership and political will.
Key messages
1. AI is not yet fully adopted in by the UK’s public and private sector engaged with international trade.
2. MSMEs face significant barriers to AI adoption and need tailored support.
3. Larger export trading businesses are leading in AI implementation.
4. AI can optimise supply chains in many different sectors and reduce costs.
5. Government assistance is required for MSME AI adoption.
6. Autonomous systems in shipping, ports, warehouses, and transportation are changing logistics and supply chain operations.
7. AI is rapidly transforming professional services that support international trade.
8. Interoperability between systems is important to enhance trade efficiency.
Chapters
00:00 Introduction to AI in International Trade
02:43 Current State of AI Adoption in Trade
05:45 Challenges in Implementing AI
08:58 Empowering MSMEs in AI Adoption
11:39 Future of Autonomous Supply Chains
15:01 AI in Professional Services
19:55 Impact of AI on Employment
22:40 AI in the Creative Sector
26:00 Government Policy and AI
29:00 Supporting MSMEs for International Trade