The Annual Global Trade and Investment Forum

Today, April 11th, 2024 the 9th Annual Global Trade and Investment Forum took place in New York City. This year the forum focused the discussion on the transformative impact of artificial intelligence (AI) as a disruptive innovation. The emergence of groundbreaking artificial intelligence (AI) tools over the last several years has sparked tremendous excitement with their potential to profoundly change economies, businesses and societies across the world. Prudent use of AI can improve operational efficiency, social equity, environmental sustainability, and more. At the same time, use of AI tools can pose a range of risks whether due to lack of appropriate governance, misuse, flawed design, or other factors.

Ryan Luby, Senior Expert and Associate Partner at McKinsey & Company, Ben Verschueren, Executive Director of NYSTAR, Empire State Development’s Division of Science, Technology & Innovation, and Linda Barrington, Cornell SC Johnson College of Business, Cornell University, outlined and analyzed the generative AI revolution in America’s labor market. Georges Ugeux, CEO of Galileo Global Advisors, and Andrew Karolyi, the Charles Field Knight Dean of the Cornell SC Johnson College of Business, Cornell University, walked us through regulations of AI across countries, and industries. There were a huge emphasis on impactful and responsible AI business strategies, and international collaboration in developing responsible, human-centered AI.

The Baltic American Chamber of Commerce (BACC) closely collaborates with governments, tech companies, and academia to promote research and development, and foster international cooperation to drive innovation, enhance efficiency, and create new value propositions.