Digitalization is transforming global trade, presenting both opportunities and challenges for customs and businesses. The rapid advancement of artificial intelligence (AI), blockchain, Internet of Things (IoT), and cloud computing has significantly changed the way international trade is conducted, leading to increased efficiency, streamlined processes, and enhanced global connectivity.
However, these advancements also bring forth new complexities, such as cybersecurity risks, data privacy concerns, and regulatory compliance issues. To respond effectively, customs and businesses must leverage AI to improve supply chain management, customs compliance, trade finance, and risk management. By implementing these technologies, they can unlock the full potential of global trade and customs, ensuring a more efficient, secure, and competitive environment for international trade[1][2][5].
Citations:
[1] https://ora.ox.ac.uk/objects/uuid:18f7271f-dd14-4c20-9d69-03c49e82a7ed
[2] https://academic.oup.com/oxrep/article/39/1/70/7030588
[3] https://ideas.repec.org/a/oup/oxford/v39y2023i1p70-84..html
[4] https://ouci.dntb.gov.ua/en/works/4wd5gqdl/
[5] https://kluwerlawonline.com/journalarticle/Global%2BTrade%2Band%2BCustoms%2BJournal/18.10/GTCJ2023043