SAARC Chamber of Commerce and Industry former president Iftikhar Ali Malik said on Sunday that Artificial Intelligence (AI) and minerals would be new drivers of growth and sources of influence as global economic and trade landscape is changing under new world order in the making. Talking to mediamen here, he said, regionalism and bilateral trade agreements have become preferred policy choice. In prevailing scenarios, he added, countries are seeking to invigorate industry to reduce reliance; protect their economies; enhance economic security and ensure job creation.
Malik predicted that about 60 percent of jobs in advanced economies and 40 percent globally will be either enhanced, eliminated or transformed. He said, in an AI-dominated world, developing countries will have to fight on two fronts one to benefit from AI while protecting job market, asserting that new changes will have long lasting impacts. Thus Pakistan needs to adapt to new realities and find innovative solutions. He said now countries are cognizant of this reality and have started to identify new win-win opportunities; devise innovative policies; explore new avenues of cooperation; and pursue partnerships that drive diversification. Former SAARC Chamber’s president said, diversification of relationships and economic partnerships will help them reduce risk and enhance economic security.