Technology: A Ray of Hope for Supply Chain Executives as Challenges Mount

New technologies, such as AI and automation, are driving optimism in global trade, according to a survey of 3,500 executives. 34% listed new technologies as a key driver of optimism, while 29.6% cited increased economic stability and growth. The survey also found that 98% of executives are using AI in supply chain operations, with a third using it to reduce costs and enhance planning. However, rising geopolitical tensions are creating challenges, with businesses using a range of strategies including "friend-shoring" and dual sourcing. Collaboration between governments and businesses is seen as crucial for future success.