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Top Ten Technologies That Will Change International Trade

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The COVID-19 pandemic has accelerated the adoption of digital technologies and services, which have kept international trade flowing even as the movement of people has been restricted. From IoT to digital payments, technologies are rapidly changing the trade ecosystem, yet few have studied the opportunities and challenges that come with these changes. Today, the World Economic Forum announces a first-of-its-kind report on how digital technologies and innovations can enable global trade to be more efficient, inclusive and equitable.

Mapping TradeTech: Trade in the Fourth Industrial Revolution was developed in cooperation with more than 50 global industry experts, policy-makers, academics and civil society leaders. It provides a comprehensive overview of the impact of emerging technologies on the global trade system, including the top ten most transformative technologies, according to a survey of hundreds of respondents from throughout the supply chain worldwide, as well as the top seven trends, from geographical considerations and the reinvention of logistics markets to supply chain resilience.

Most transformative technologies for trade based on the World Economic Forum’s global survey:

“On the one hand, TradeTech creates benefits such as efficiency gains, new digital products and services, and positive environmental impacts. On the other, TradeTech may pose challenges such as fragmented regulations, lack of data harmonization and a widening digital divide,” said Ziyang David Fan, Head of Digital Trade, World Economic Forum. He added: “Businesses and policy-makers have to work together in order to fully unlock the potential of new technologies for trade.”

TradeTech’s importance is shown by the disruptions that technologies are causing to business models, the reconfiguration of value chains, efficiency gains, the achievement of sustainable outcomes and the inclusion of micro, small and medium-size enterprises. Yet, less positive consequences may also exist and need to be mitigated to ensure TradeTech works for all.

“Today’s trade is not just driven by low-wage labour arbitrage or access to resources. International value chains become more and more knowledge intense, partially thanks to embedded technology,” said Jimena Sotelo, Project Lead, Digital Trade, World Economic Forum. “Thus, ensuring further TradeTech adoption is not just about making trade more efficient, but sometimes about ensuring trade opportunities altogether for all companies regardless of their size, and for all countries regardless of their level of development.”

“During the COVID-19 pandemic, automated clearance systems for issuing declarations and effective risk management as well as non-intrusive inspection equipment have made a significant difference to Customs on the ground,” said Kunio Mikuriya, Secretary-General, World Customs Organization (WCO). “In cooperation with the World Economic Forum, the WCO is pleased to contribute to the global debate on the convergence of technology and trade,” he added.

This report is a continuation of Forum’s previous work on blockchain for trade, trade and supply chain finance and 3D printing for policy-makers. More than 50 experts from the public and private sectors from all regions contributed to the report. The World Economic Forum will continue to lead this multistakeholder community in advancing TradeTech to enable a more efficient, inclusive and equitable global trading system for all.

Quotes from the Industry:

“The Internet of Things offers us instant data about the physical condition of a shipment or even a single item in transit. It gives us true visibility across the supply chain. With that comes the ability to spot losses, damage and delay in real-time – and address them. Bottlenecks are identified, status updates are accurate. Over time, the data shows patterns that will help with predictive analysis, contingency planning and optimization of transit speed, cost and security,” said Mohammed Esa, global lead for digital customer solutions at Agility GIL.

“TradeTech holds significant promise in facilitating trade transactions and lowering associated costs for Qatar and its financial institutions that are not located globally,” said Alanoud Hamad Al-Thani, Managing Director, Qatar Financial Centre Authority.

“Disruptive technologies can be a game changer for trade and SME inclusion, but don’t come without challenges. Understanding these challenges is essential to ensure that TradeTech benefits all,” said Emmanuelle Ganne, Senior Analyst, Economic Research Department, World Trade Organization.

“Traditional trade moves physical goods across borders, technology augments the physical limitations with endless opportunities. Trade Tech is at the forefront of Oman’s economic agenda,” said Ali Al Shidhani, Undersecretary for Communications and Information Technology at Ministry of Transportation, Oman Government, Oman.

“The pandemic has triggered numerous changes that have been maturing over a considerable period of time and now occur rapidly. These new developments relate to the very nature of work, to international trade, to all industries, to sustainability, to the effects of climate change – and require strategic approach to day-to-day decision-making process. We are quite well prepared and have plenty of technology tools readily available for deployment. I believe that the benefits of these new technologies can only be achieved by outstripping implementation of new business models and engaging stakeholders. We shall concentrate our efforts on these areas when innovating trade and logistics,” said Dmitry Kalinin, Director, Strategic Development, Integral Petroleum.

“Following the Paris Agreement and similar global climate change policies, it is safe to assume that the economies of the future will be conscious of their greenhouse gas contributions. Optimization of the trade supply chain, trading routes using AI, and using AI and robotics for a ‘smart vessel packing’ are some of the interesting concepts to explore in TradeTech to help minimize greenhouse gas contributions from international trade while maintaining trade flow,” said Hazem Mulhim, Chief Executive Officer, Eastern Networks (EastNets).

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7 Driving Habits That Are Secretly Damaging Your Diesel Engine

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diesel engine

When it comes to driving, no one is perfect, and everyone makes mistakes. But could these habits be costing you money and secretly killing your engine? If you want to ensure your engine is running at optimum levels and that your car will last longer, then you should break some of those bad driving habits.

Some driving habits you are practicing may even be unsafe for you, your passengers, and other driverson the road. Here are a few everyday habits that you may be doing that you didn’t know maybe damaging your car.

1.      Ignoring the dashboard lights

If your dashboard light goes on then, it means something is very wrong with your engine. Some choose to ignore it, but it could have dire consequences later. The following are possible reasons why your dashboard lights are on.

Check engine light – when the check engine light goes on, it usually indicates a problem with your engine. The problem could be with the fuel injection system, the ignition, or the emission system. Because the engine is composed of different components, the check engine light may indicate a problem with the engine’s components. It’s best not to ignore the light and take chances. It could cause your engine to knock, and this will cost you so much more later. Ensure that you take your car to the auto repair shop to have it assessed by professional mechanics.

If you have problems with the fuel injection system and it needs replacing, then check out https://goldfarbinc.com/collections/fuel-injection-pump-new-used-rebuilt.

Brake light – ensuring your brakes are in excellent condition should always be a priority. When your brake light goes on, please check that the emergency brake is off. If it’s off, it only means a problem with the brake fluids level or the hydraulic system.

Airbag warning – if your airbag light comes on, then you need to take your car for inspection as soon as possible. When the light is on, it means that you are driving with defective airbags, and they will not deploy if you are involved in a car accident.Sometimes it also means that the airbags may deploy randomly, which may cause you serious bodily harm if you are driving. An airbag warning light could also mean that there is something wrong with your seat belts, and you need to have that checked out also.

Tire pressure – if your tires have low pressure when driving, then they can pose a serious threat to both you and other drivers on the road. If this light goes on, please ensure to check your tire pressure immediately.

Oil pressure – when the oil pressure light comes on, it means your oil levels are running low, and you need to fill it up.

2.      Riding the brakes

Riding the brakes means leaving your foot on the brakes for a long time while driving. Doing that can lead toextra wear and tear and overhearing, which will drastically reduce your stopping power. This a major hazard because while driving, you need your brakes to respondas swiftly and accurately as possible.

Instead of placing your foot on the brakes when the car is going downhill, lift it off the accelerator. The vehicle will slow down, and it also leaves enough space between your car and the one infront of you. If you own a manual car, you can try using a lower gear.

3.      Shifting from drive to reverse without stopping

Even if you are running late, if you want to shift your car to reverse, always ensure the car stops beforeshifting between drive and reverse. This is especially important if you aremoving for a couple of miles. The abrupt gear change can damage your transmission and ultimately shorten the lifespan of your vehicle.

4.      Driving with an empty or low fuel tank

Generally, it’s advisable to ensure your fuel tank is filled quarter way or, if possible full tank. If you drive your vehicle on too little fuel, it can cause overheating and malfunction to your fuel pump injection system and catalytic converter.

Topping your vehicle with little fuel at a time may cause the injector system to take fuel from the bottom of the tank, where there is usually sediment build-up. This will also result in a clogged and dirty fuel filter. However, you should ensure regular engine tune-upsand replacement of your fuel filters to avoid build-up.

5.      Overloading your car

This may surprise most people, but carrying extra weight than your vehicle capacity may damage the engine. It will put additional pressure on all the components because they have to work extra hard to manage the extra weight.

Overloading your vehicle also decreases your car’s fuel economy because it has to use more fuel to handle the excess weight. If a vehicle is too heavy, it can also cause the tires to quickly wear and tear or even cause a major blowout, proving dangerous.

Did you know that overloading your car not only damages it but is also illegal? In case you are involved in an accident, the insurance may not pay for cover.

6.      Revving your engine

Letting your car idlefor afew minutes after starting is always an excellent idea. When you let your car idle for a few minutes, it allows oil to be distributed throughout the engine.Revving the engine will not increase the process and may cause damage to some of the engine’s components. Ensure that your car has properly warmed up before you rev up your engine.

7.      Using the wrong fuel

Ensure that you use the highest quality fuel. Sometimes you can fill up your diesel engine with gasoline by mistake. If that happens, don’t start the engine. This can save you from damaging your engine because once you switch one the car and the gasoline move into the injection system, it will damage everything because gas doesn’t ignite like diesel.

Don’t let bad habits destroy your car, and if you notice any car issues, ensure that you visit your mechanic as soon as possible.

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Deloitte Introduces ReadyAI™ Artificial Intelligence-as-a-Service Solution

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Deloitte introduced ReadyAI, a full portfolio of capabilities and services to help organizations accelerate and scale their artificial intelligence (AI) projects. ReadyAI brings together skilled AI specialists and managed services in a flexible AI-as-a-service model designed to help clients scale AI throughout their organizations.

The AI market is expected to exceed $191 billion by 2024, growing at 37% compound annual growth rate. As organizations accelerate their adoption of AI, many struggle with challenges such as limited access to specialized talent, slow development cycles, and the resources to continuously maintain AI models. Creating and sustaining AI models at scale typically requires people with capabilities across data science, IT operations and user experience (UX) who work seamlessly towards a common goal. With Deloitte’s ReadyAI, organizations now have access to the services, technology and expertise they need to accelerate their AI journey.

ReadyAI offers comprehensive service capabilities including:

Data preparation: Provide data extraction, wrangling and standardization services. Also supports advanced analytical model development through feature engineering.

Insights and visualization: Design and generate reports and visual dashboards utilizing data output from automations to improve business outcomes and automation performance.

Advanced analytics: Data analysis for both structured and unstructured data. Creation of rule-based bots and insights-as-a-service.

Machine learning and deep learning: ML and deep learning model development. Video and text analytics to assist conversational AI.

Machine learning deployment: Create deployment architecture and pipelines for upstream and downstream integration of ML models.

Model management and MLOps: Management of model performance, migration and maintenance. Automation of model monitoring process and overall DevOps for machine learning.

Deloitte’s recent “State of AI in the Enterprise” third edition study of enterprise AI adopters found that less than half of adopters believe they have a high level of skill around integrating AI technology into their existing IT environment. With a talent pool of more than 3,100 AI professionals, Deloitte can assemble teams that have the right combination of industry, domain and AI technology skills to best suit clients’ needs. These experts include cloud engineers, data scientists, data architects, technology and application engineers, business and domain specialists, and visualization and design specialists. By leveraging the right combination of skills, organizations can quickly accelerate their AI journey.

ReadyAI teams operate as an extension of clients’ teams often for engagements of six months or more. Services are available as a flexible, subscription model, allowing clients to scale resources and capabilities up or down based on business needs and priorities. Learn more about ReadyAI.

Gartner, the world’s leading information technology and advisory company, named Deloitte a Leader for the seventh time in a row in its February 2021 report titled, “Magic Quadrant for Data and Analytics Service Providers.”

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Positive Tech Solutions Will Forge The Recovery

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Global leaders back the need for more technology governance to tackle the most pressing global problems at the World Economic Forum’s inaugural Global Technology Governance Summit, which closed on Wednesday.

The summit, hosted by Japan, was opened by Prime Minister Suga Yoshihide with a welcome address in which he emphasized the timeliness of discussions among leaders on the implementation of digital technologies in the post-COVD era. Suga also reaffirmed his commitment to accelerating reforms to create the world’s most advanced digital society.

More than 2,000 leaders gathered virtually to address the adoption of technology to improve lives and respond to global challenges. The World Economic Forum Centre for the Fourth Industrial Revolution (C4IR) Network will develop this work throughout 2021 and beyond.

An interactive experience was designed for the participants, embedding technology into the summit. Registered participants were invited to learn about non-fungible tokens (NFTs) by collecting fragments – called “shards” – of “Voice Gems” designed by artist Harry Yeff (Reeps 100). Over 250 shards were minted on the first day.

Among the summits outcomes and commitments include:

Two new regional networks of cities were launched in Latin America and South Asia as part of the G20 Global Smart Cities Alliance. The city networks, modelled after the C4IR Japan’s successful Japan Smart City Alliance, aim to bolster small and medium-sized cities’ capacity to realize the Fourth Industrial Revolution’s benefits and safeguard against governance challenges.

The C4IR Network will support Agile Nations, a global initiative to enable government, business, and civil society to share evidence and insights into innovative governance. The Network re-committed its support for the Agile50 initiative at the summit, recognizing the role of experts and business leaders in driving agility in governments worldwide.

To address pressing challenges and opportunities relating to the rise of new digital currency, central bank digital currency, and so-called “stablecoins,” the Digital Currency Governance Consortium (DCGC) is convening more than 80 organizations representing numerous sectors and geographies.

The Forum established the Future of the Connected World initiative with five priority areas for collective action in 2021-2022. Building on the pilot project’s success for Accelerating the Impact of Industrial IoT for SMEs in São Paolo, Brazil, the C4IR Network will expand projects in Colombia, Kazakhstan, Saudi Arabia, South Africa, and Turkey.

Executive leaders from the public and private sector, representing more than 12 countries on five continents, released a new roadmap for building a connected future that benefits all. The roadmap and global action plan seek to rally and mobilize the international community on a set of five actions and 37 initiatives to advance the governance of the internet of things and related technologies.

The Dubai Roads and Transport Authority (RTA) will adopt the framework and pilot it as part of its World Challenge for Self-Driving Transport, trialling autonomous delivery vehicles and using the framework to test a series of performance-based regulations. The impact of this is a framework developed by a Forum project sponsored by the Global Autonomous Vehicle Council (GAVC), which is being used as an incremental part of Dubai’s roadmap to make 25% of its travel driverless by 2030.

The following reports and white papers were published:

The Rebuilding Trust and Governance: Towards Data Free Flow with Trust (DFFT) white paper gives a bird’s-eye view of global data governance issues, including privacy, fair competition, cybersecurity and transparency to strengthen trust-governance mechanisms.

The Medicine from the Sky: Opportunities and Lessons from Drones in Africa report provides a framework for evaluating where these technologies can be best applied to improve healthcare.

A new resource, Global Governance Toolkit for Digital Mental Health, provides help for governments, regulators and independent assurance bodies to address growing ethical concerns over the use of technology in mental and behavioural health.

The Technology Futures report outlines new ways for leaders to predict future trends. It provides a framework for leaders to assign probability to trends and forecast risks and uses speculative fiction to bring these to life.

A new white paper, Co-designing Digital Interventions and Technology Projects with Civil Society outlines how policy-makers and business leaders can collaborate with civil society to address power imbalances. It explores how each sector can co-design tech and bring equitable access.

Transforming Rural Mobility with MaaS explores mobility as a service (MaaS), which will be at the forefront of a new generation of mobility services. It focuses on examples from Japan and examines the common challenges and success factors for MaaS to support local government and related enterprises to transform mobility.

The C4IR Network Affiliate Centres made the following commitments:

C4IR Brazil will launch a data governance prototype for noncommunicable disease (NCD) patients to facilitate remote monitoring and public-private sharing of patients’ data in the health system.

C4IR Colombia will publish a regulatory framework for data exchange with the Data for Common Purpose Initiative.

C4IR India initiated the Artificial intelligence for Agriculture Innovation (AI4AI) project to explore the use of Fourth Industrial Revolution technologies throughout the food chain, from seed to fork. The project, supported by more than 60 industry, government and start-up partners, is currently piloted in Telangana, India. C4IR India has also launched Fourth Industrial Revolution for Sustainable Transformation of Health (FIRST Health). Theproject explores the role of the Fourth Industrial Revolution technologies in 18 areas of health, including preventive, curative and governance.

C4IR Israel is committed to enabling the future of mobility by taking the existing pilot programmes and creating a scalable commercial business model that is safe, sustainable and ethical.

C4IR Japan has developed an approach called Authorized Public Purpose Access (APPA), which seeks to use data for the public good while balancing all stakeholders’ rights and interests.

The Centre for the Fourth Industrial Revolution Ocean will lead the Action Coalition on Ocean Data together with Microsoft. The coalition strives to deliver open, transparent and easily accessible universal data to comprehensively understand “life below water” for better policies and decision-making. The coalition will be open and inclusive to all actors seeking to liberate ocean data; the Ocean Data Platform will be at the heart of solutions to unlock this data.

C4IR Rwanda’s most recent work on pending data protection legislation will serve as a foundation in helping to achieve Rwanda’s ambitions of becoming a proof-of-concept hub for technology innovation and regulation.

C4IR Saudi Arabia will hold its official launch event, along with projects designed to advance multistakeholder collaboration on agile governance frameworks and AI, IoT and blockchain. The centre will develop frameworks that usher in advanced autonomous mobility through heavy-lift drones and accelerate the advent of autonomous trucks and vessels, thereby expanding mobility opportunities for air, land, and sea.

C4IR South Africa will address the needs of small, medium and micro-enterprises (SMMEs) by launching a series of projects to develop policy protocols for accelerating the adoption of emerging technologies by SMMEs and mitigating associated risks.

C4IR Turkey will address the need for human-centric technology using governance models designed by the collective rationality that has emerged from the rapid spread of IoT, AI, and other Fourth Industrial Revolution technologies.

C4IR UAE is launching a report focused on developing a precision medicine programme locally, highlighting the critical process areas, including the infrastructure and regulatory environment. It aims to further the growth of the healthcare industry in the UAE and exchange healthcare data globally. C4IR UAE will also lead multiple tokenization pilots to test blockchain technology to modernize the financial system and improve access to capital and liquidity to further economic diversification and digital growth in the UAE.

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