Technologies impact on Trade Final Flashcards
Report name?
World Trade Report 2018
What four technologies were highlighted in the report?
- Internet of Things
- Blockchain
- 3D printing
- Artificial Intelligence
What is Internet of Things?
Provides the ability to any object the power to identify, sense, network, and process which allows them to communicate.
What does the Internet of Things offer and the risks?
operational efficiency. Risk of bottlenecks, compatibility, and security.
What is Blockchain?
a decentralized distributed digital record of transactions that is secure during various cryptographic techniques.
What does Blockchain offer and the risks?
offers security, transparency, traceability and automation. However, scalability and legal issues.
What is 3D printing?
the process of making a three-dimensional solid object of virtually any shape from a digital model.
What does 3D printing offer and risk?
Digital and localized supply chains with personalization. However, its slow and regulatory issues.
What is Artificial Intelligence?
ability of a digital computer or computer-controlled robot to perform tasks associated with humans.
What does Artificial Intelligence offer and the risks?
increased efficiency and innovation. However, technical issues around physical environment and unemployment may occur.
How does technologies impact trade?
- reduces trade costs (Transport, storage, time)
- Global value chain
