Nexus between AI, international trade: Istanbul hosts Trade Winds 2024
Trade Winds, the largest US government-led trade mission, convens in Istanbul for the second time, focusing on "The Power of AI in Fostering Inclusivity and Innovation."
Istanbul welcomes the US Trade Winds event for the second time, showcasing a three-day exploration of 'The Power of AI in Fostering Inclusivity and Innovation. / Photo: AA Archive
The largest US government-led trade mission and business development forum, Trade Winds, has been held in Türkiye, Istanbul, for the second time.
Istanbul, which earlier hosted the event in 2008, was chosen for the second time by the US Commercial Service, thanks to its advantageous geographical position between Asia and Europe.
The three-day event, starting on Monday, was organised this year under the main theme of "The Power of AI in Fostering Inclusivity and Innovation."
Heather Byrnes, the US counsellor for commercial affairs, previously said that US firms attach importance to the event and that the host country is selected as a market that offers great opportunities.
She expressed that the selection of Istanbul is perceived as a sign that draws attention to Türkiye's opportunities.
Etienne LeBailly, US economy counsellor, also previously said Türkiye's advantageous geographical position and high-quality industry make it attractive for US firms.
Hosting Trade Winds is a highly competitive process, and it is no coincidence that Türkiye and Istanbul were chosen; it is an ideal market for US companies, he added.
AI affects business
Canan Ozsoy, vice chair of the American Chamber of Commerce (AmCham) Türkiye, said that the long-term and strategic value US businesses create for Türkiye is indisputable.
"Therefore, we will continue to focus on further steps to build on these successful results and support bilateral economic cooperation," she stressed.
She recalled that the US is Türkiye's second-biggest export and fifth-biggest import market.
Marisa Lago, the counsellor under the US Secretary of Commerce for International Trade, said that over the past few years, remarkable progress has been seen in the collective pursuit of gender parity, both in Türkiye and the US.
Lago said that the artificial intelligence (AI) issue already affects how people do business. She added: "If we can leverage AI to mitigate bias in hiring, promote diverse leadership, and foster a culture of inclusivity, we can unlock the full potential of our workforce and drive innovation on a global scale."
Copyright © 2024 TRT World.