Exploring the Role of AI-Enhanced Online Marketplaces in Facilitating Economic Growth: An Impact Analysis on Trade Relations between the United States and Sub-Saharan Africa

Abstract

Objective: The integration of artificial intelligence (AI) in the online marketplace represents a turning point in the development of e-commerce and digital trade. This article investigates the transformative potential of AI-enhanced online marketplaces for trade relations between the United States (US) and Sub-Saharan Africa (SSA), with the aim of reviewing the opportunities presented by the AI in enhancing market access, streamlining trade, and driving economic growth. Method: The methodology adopted for this research comprises of expository discussion. We explore theoretical discussion on AI-enhanced online marketplaces and how it has facilitated online marketplaces for trade relations between the United States (US). Results and Discussion: The article finds that there exists a complex mix of opportunities, challenges, and evolving dynamics in the trading landscape between the US and SSA. Furthermore, the rivalry from global powers as well as the geopolitical considerations impact the trade between US and the SSA countries. Implications: The practical and theoretical implications of this research are discussed. The implication of our finding is that by addressing these key areas, stakeholders can navigate the complexities of trade relations effectively and capitalize on opportunities for mutual prosperity and inclusive economic development between the US and SSA in the digital age. Originality/Value: This study contributes to the literature by highlighting how an AI-enhanced online marketplaces can facilitate economic progress by utilizing it for trade relations between the US and SSA economies. The relevance and value of the paper are evidenced by the findings that if both countries leverage on AI-enhance technologies for effective market access, they can unlock their full potential for growth and development. Recommendations: We suggest that stakeholders should leverage on AI technologies by embracing digital transformation, fostering collaboration, prioritizing market research, addressing infrastructure challenges, and ensuring compliance with ethical practices. Future research can explore other areas of emerging technologies, demonstrate the socio-economic implications of AI, and the framework of regulations on AI.