Delving On The Nexus Between Artificial Intelligence And International Trade
- IJLLR Journal
- Apr 27, 2023
- 1 min read
Delving On The Nexus Between Artificial Intelligence And International Trade: Is India Technologically Prepared?
Anindya Bhan, LLM in Corporate and Commercial Law from Christ (Deemed to be University), Bangalore
ABSTRACT
Artificial intelligence (AI) offers a great deal of ability to foster innovation, assist businesses in deriving new value from data, and cut trade expenses. Interest in the trade ramifications of this new technology has increased along with interest in the economic and societal effects of AI. While AI technologies have the potential to fundamentally alter trade and global business models, trade itself can also be a key means by which nations and companies acquire the resources—whether they be goods, services, people, or data needed to develop AI systems and to deploy AI solutions globally. This paper examines the economics of artificial intelligence on a global scale. According to trade theory, comparative advantage is fundamentally based on scale, competitiveness, knowledge development, and information diffusion. It examines crucial AI aspects in relation to these dimensions and describes the characteristics of a suitable AI-based model of global trade. The study also analyses the outlook of WTO and GATS in particular to delve on the nexus between AI and International trade. Furthermore, this paper also focuses on the developing and rising countries such as India and their locus regarding such juxtaposition between AI and International Trade. As a conclusion, it has been emphasised that additional research needs to be done before we can fully grasp how AI will impact trade.
Keywords: Artificial Intelligence, International Trade, prediction, data mining, import – export, Machine Learning.
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