How AI can be a boon for international trade
Difficulties in communication can hinder trade and several studies have shown that eliminating language barriers is positively correlated with greater trade.
Mumbai: Across the world, Artificial Intelligence (AI) generates enormous excitement about its potential but little is known about its economic effects. According to a new study, one area where AI could prove influential is international trade. In a NBER working paper, Erik Brynjolfsson of MIT Sloan School of Management and Meng liu and Xiang Hui both of Washington University show that new AI-powered translation systems help eliminate natural barriers and increase international trade.