Minister of Treasury and Finance, Mehmet Şimşek, stated that a global artificial intelligence revolution is taking place. Şimşek emphasized, “Every aspect of our lives will be affected by this. Therefore, we cannot afford to miss this revolution.” The 15th Turkish-Arab Economic Forum kicked off in Istanbul under the theme of “Turkey and the Arab World: Investment, Trade, Global Corridor in Technology.” Minister of Treasury and Finance, Mehmet Şimşek, moderated a panel titled “Turkey and the Arab World: A Global Corridor for Investment, Trade, and Technology” within the forum, attended by government, business, and finance sector representatives from Kuwait, Iraq, Egypt, Libya, and Tunisia. During the panel, Şimşek highlighted that the world is experiencing significant uncertainties at the moment. He pointed out that these uncertainties hinder growth, noting that trade generally fuels growth, but currently, there is a contraction in global trade.

ARTIFICIAL INTELLIGENCE REMARK
Şimşek mentioned, “As if it weren’t enough, there is also a global artificial intelligence revolution happening in the world. This will lead not only to an industrial revolution but also affect every aspect of our lives. Therefore, we cannot afford to miss this revolution. Additionally, populations are aging rapidly, which poses a global challenge. Moreover, conflicts and geopolitical tensions threaten the order that emerged after World War II. All of these factors contribute to a decrease in global growth.” He added, “CHALLENGES COME WITH OPPORTUNITIES TOO” Minister Şimşek noted that the increase in inflation in Turkey has now reversed, but there is some uncertainty globally, both in terms of monetary and fiscal policies. While there might be a slight loosening of monetary policies globally, the speed and coordination of this will have a significant impact. Şimşek continued, “Will the easing of monetary policies result in fiscal consolidation? This question is challenging for us. However, one thing we know is that global trade will continue at the same limited level in the coming years, with growth expected to be less than 3%. Therefore, there are challenges, but also opportunities. We need to look at it this way.” Şimşek further highlighted that through the forum held today, beneficial collaborations between Turkey and the Arab world can be established, emphasizing that both sides have the potential to complement each other in many sectors.