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THE INFLUENCE OF ARTIFICIAL INTELLIGENCE ON TRADE AND ECONOMIC INFORMATION SYSTEMS
16.01.2025 17:27
[2. Економічні науки]
Автор: Veronika Kravchynska, student of higher education, group 3-2а, Faculty of International Trade and Law, State University of Trade and Economics, Kyiv
Artificial intelligence (AI) is becoming an important tool for optimizing trade and economic information systems (TEIS), it is transforming modern trade and economic information systems, providing new opportunities for automation, forecasting and management. Its implementation allows enterprises to use vast arrays of data to make decisions, automate processes and improve trading efficiency. Modern analytical and statistical data indicate a significant increase in the role of AI in trading systems, which is due to the global digital transformation. The speed of implementation in the field of trade is the result of the development of analytical technologies, big data and machine learning [1].
The purpose of the study is to determine the main directions of using AI to optimize trading processes.
One of the main advantages of using AI in TEIS is the automation of supply chains, which provides automatic processing of orders, financial transactions and logistics operations in real time, which allows to increase the efficiency of planning and execution of orders, reduce supply delays, optimize logistics costs and improve inventory management. For example, using machine learning algorithms, large companies such as Amazon and Alibaba are automating warehouse inventory management.
Analytical models based on AI help predict fluctuations in market demand and determine optimal pricing strategies. AI can analyze historical data, seasonal changes and current market trends to more accurately predict demand for goods. With its help, you can automatically plan the best logistics routes, taking into account weather, traffic and other factors. International studies show that the use of such technologies can increase the accuracy of forecasting by 10-15%.
At the same time, AI allows the analysis of large volumes of data (Big Data), which may include financial indicators, market data, competition and consumer behavioral patterns, and other variables. This enables enterprises to react more quickly and accurately to changes in the market environment and make informed decisions. Also, AI is used for risk modeling and analysis, which allows companies to reduce financial losses from unforeseen market situations. It also allows building customer profiles, predicting their preferences and adapting marketing strategies. For example, Netflix uses AI to analyze user behavior and recommend content that increases customer retention and, based on analysis of market conditions, to recommend optimal prices for products that help maximize profits. According to McKinsey, businesses that apply AI-based analytics achieve a 10-20% increase in profitability. The McKinsey Global Institute is one of the most prominent private think tanks that researches the impact of AI on business and the economy. They publish detailed reports on the use of artificial intelligence in various sectors of the economy, including international trade [2].
AI is used to optimally distribute vehicles and manage warehouse inventory, which helps reduce costs and improve service levels. The use of AI algorithms allows you to optimize product delivery routes, reducing fuel costs and transportation time. For example, DHL is implementing AI to automate logistics operations, resulting in a 30% increase in efficiency.
AI affects the automation of trading transactions, including forex, stock markets and e-commerce, and is also used to create robots that carry out trading operations in financial markets, improving their speed and reducing human error. For example, algorithmic trading, which uses AI, allows financial transactions to be carried out automatically according to predetermined conditions, which increases the speed and accuracy of trades. In the field of FinTech, AI helps ensure secure transactions, automatic fraud detection, and fast financial decision-making.
International organizations such as the IMF, WTO, OECD, the European Commission and private think tanks provide valuable data and forecasts that help research and analyze the impact of AI on the global economy. The IMF regularly publishes reports on global economic trends, including digital transformation in trade and financial markets. IMF reports contain data on the use of AI to optimize international trade and their impact on the global economy. At the same time, the WTO conducts research covering the use of digital technologies in international trade. WTO analytical reports include information on digitalization of logistics, supply management and automation of financial transactions. The OECD regularly examines the impact of AI on the international economy and digital markets. Their reports provide insight into how AI is being used in global supply chains and its role in improving the efficiency of international trade. The European Commission is actively studying the impact of AI on economic activity, including trade and industry. EC reports contain statistical data on the implementation of AI in European countries and its impact on EU trade systems [3].
But there are also risks of using AI, as such use requires the processing of large volumes of personal data, which can create great risks of breach of data privacy and cyber security. The increase in the number of automated transactions and data analytics creates new opportunities for cybercriminals, so system security remains a key issue here. Standards for data protection in trade and economic systems are already being developed at the international level. Also, today, small and medium-sized enterprises may lag behind large companies in the implementation of AI due to high costs of technology and specialists. Countries with developed infrastructure and large investments in technology are ahead in innovation. Instead, developing countries face difficulties due to limited resources and weak technological foundations. According to Gartner research, 37% of the world's companies already use AI in their operations, and this figure is growing by 25% annually. Of course, today the greatest impact of AI is observed in the USA, Europe and China, where investments in innovation and development of digital technologies reach billions of dollars [4].
Despite the risks mentioned above, the prospects for the use of AI in TEIS look positive. AI is expected to continue to transform trading, making it more efficient, transparent and secure. Further development of technologies will help reduce transaction costs, improve risk management and increase the competitiveness of companies on world markets [5].
Thus, the introduction of AI significantly changes trade and economic information systems, helping to optimize logistics, automate financial processes, reduce costs and improve market data analytics and increase business efficiency. However, the development of these technologies is accompanied by challenges related to ethics and privacy, data security, uneven development of AI in the world. And it needs attention at the global level.
References
1. Goley Yu., Drik I. (2023). Analysis of the use of artificial intelligence in business process management systems: advantages and disadvantages. Information technology and project management CIMS 2023. URI : https://fti.dp.ua/conf/2023/05247-0555/
2. McKinsey Global Institute (MGI). URI : https://www.mckinsey.com/mgi/overview
3. Ostrovska G., Ostrovsky O. (2923). Artificial intelligence in the conditions of modern enterprises and marketing campaigns: effective tools and prospects for development. Marketing and digital technologies, [S.l.], 7(3). Р. 66–82. DOI : https://doi.org/10.15276/mdt.7.3.2023.5
4. Shapovalova A., Kuzmenko O., Prokopova O. (2024). Тhe role of artificial intelligence in optimizing taxation and reporting in small business. Economy and society, 62. DOI : https://doi.org/10.32782/2524-0072/2024-62-116
5. Stanford: Fintech Maintains Position as Third Biggest AI Investment Focus Area. Fintech Newsletter. 2023. URI : https://fintechnews.ch/aifintech/stanford-fintech-maintains-position-as-third-biggest-ai-investment-focus-area/59671/
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Academic Advisor: Larisa Gevorgivna Sarkisyan, Candidate of Economic Sciences; Associate Professor of the Department of World Economy, State University of Trade and Economics, Kyiv
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