"AI can rapidly scrape and synthesize vast quantities of data, track tariff changes, model potential supply chain scenarios, and accurately classify goods by their government-assigned tariff codes, a highly nuanced system with more than 17,000 codes."
"AI can continuously track and adapt to new rules in a way humans simply can't at scale, which is particularly useful in this rapidly changing environment."
"The tariffs were changing fast and furious, and company leaders needed real-time data quickly to make decisions, leading to the launch of an AI-powered tariff modeler."
US businesses have faced significant tariff changes, prompting some to adopt AI technologies for better compliance and efficiency. Companies like EQI and KPMG utilize generative AI to manage tariff data, track changes, and classify goods accurately. AI helps reduce compliance errors and saves time, especially in light of recent Supreme Court rulings. The technology can analyze tariff payments, identify overpayments, and adapt to new regulations quickly, providing businesses with the agility needed in a rapidly evolving trade environment.
Read at www.businessinsider.com
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