Artificial intelligence could boost the value of global trade by almost 40 percent by 2040 thanks to cost reductions and productivity gains, the World Trade Organization said Wednesday.

In its latest annual World Trade Report, the WTO identified AI as one of the few bright spots as the global trading system has been upended by the United States slapping high tariffs on its trading partners.

"AI holds major promise to boost trade by lowering trade costs and reshaping the production of goods and services," WTO chief Ngozi Okonjo-Iweala said while presenting the report.

She said WTO simulations suggest AI could increase exports of goods and services by nearly 40 percent above current trends.

However, much like the technology threatens to disrupt labour markets, a lack of proper policies c

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