Standard Chartered: Saudi firms lead trade digitalization
A report issued by Standard Chartered indicates that Saudi companies are making significant progress globally in digitalizing trade, with a strong focus on developing cloud infrastructure, data integration, automation, and robotics. More than half of these companies plan to invest in digital financing platforms and supply chain technologies, with expectations of reducing costs by at least 10%. Digitalization has also enabled firms to respond more quickly to supply chain disruptions and has led to direct benefits such as improved operational efficiency and cost savings. Saudi Arabia continues to move toward adopting smart technologies like artificial intelligence and blockchain. Studies anticipate that accelerated digitalization could increase global trade volume by 6.9% by 2031, equivalent to $2.8 trillion.
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