Join TFG’s Deepesh Patel and Ravesh Lala, IBM’s Head of Business Development for Hybrid Cloud Solutions, at Sibos in Toronto as they clarify the complexity of generative AI and its diverse applications in the trade industry. Ravesh starts with one of the foremost challenges confronting banks in trade and supply chain finance—digitalisation. He underscores the critical importance of transitioning from conventional paper-based procedures to a fully digital supply chain to enhance operational efficiency.
Looking at generative AI, Ravesh offers three illustrative examples of its practical use: streamlining approval workflows, decoding complex paper documents, and grasping the intricacies of global trade compliance regulations. He emphasises the transformative journey of AI, commencing with basic automation and advancing toward its generative capabilities, where AI can even draft contracts autonomously. This AI revolution holds the potential to redefine the landscape of trade, supply chain management, and receivables finance.