2024 Export Training Session Recap

ONB's Hemant Kumar leads a panel at the Export Training Session / Hemant Kumar de l'ONB dirige un panel lors de la session de formation à l'exportation

The following takeaways from ONB’s Export Training Session on May 30 offer valuable insights for exporters looking to enhance operations and stay competitive in the evolving global marketplace.

Future-proof Your Exports: Cybersecurity and AI Automation Panel

This panel looked at the intersection of AI, automation, and cybersecurity in the global trade landscape. Here’s a summary of the top five themes that emerged:

1. Cybersecurity in a global context: The cybersecurity regulatory landscape varies significantly across jurisdictions like Canada, the United States, Europe, and Africa. Beauceron Security highlighted these differences and the implications for export operations. Understanding regional regulations and adapting strategies accordingly is crucial for maintaining robust cybersecurity across borders.

2. Adoption and impact of AI in manufacturing: UMoncton’s PLEIADE and IPL Plastics shared insights on how AI and automation are transforming manufacturing processes. PLEIADE’s collaboration with companies showcased many practical AI applications, while IPL Plastics discussed the challenges and benefits of incorporating automation, such as improved productivity and enhanced quality control.

3. Evolving cyber threats and trends: Beauceron observed an increase in cyber threats, particularly in sectors like manufacturing where digitization and legacy systems create vulnerabilities. They emphasized the importance of proactive threat detection and implementing best practices to mitigate risks, ensuring a secure digital environment for exporters. Siemens provided insights from a data governance and cyber posture perspective as it relates to international trade.

4. AI and cybersecurity, risks and opportunities: The integration of AI into business operations brings both opportunities and risks. While AI can significantly enhance productivity and global competitiveness, it also introduces new cyber risks. The discussion highlighted the need for a balanced approach, where companies adopting AI must consider cybersecurity measures to protect against potential threats. Siemens touched upon business opportunities for companies arising from leveraging cyber best practices.

5. Building resilience against future cyber threats: Experts underscored the importance of building a cyber-aware culture within your organization. Strategies for enhancing team awareness and resilience against cyber threats were discussed, providing exporters with practical advice to safeguard their operations. Emphasizing continuous learning and adapting helps companies stay ahead of evolving cyber risks.

Export Agility Panel

As we continue to navigate the evolving global trade landscape, this panel provided invaluable insights into the challenges and opportunities that exporters face today. Here are the top five themes that emerged:

1. The global export landscape: Our experts delved into Canada’s position within the global export space, particularly in comparison to our OECD partners. This macro perspective highlighted Canada’s strengths and areas for growth, emphasizing the importance of understanding our position on the world stage to better strategize for the future.

2. Navigating market uncertainties: A recurring theme was the impact of global uncertainties on supply chains. Discussions covered how events like the Ukraine conflict, climate change, and disruptions to key shipping routes create unpredictable demand and anxiety among exporters. Practical advice was shared on how companies can stay informed and mitigate these challenges effectively.

3. The role of local market presence: Thermtest’s journey underscored the importance of having a local market presence in global markets. The session explored the risks and considerations when entering new markets, and how establishing a local presence can provide significant competitive advantages and foster stronger customer relationships. J.D. Irving, Ltd also discussed New Brunswick’s key strengths and how they can help exporters remain competitive.

4. Sustainability and ESG: Sustainability and environmental, social, and governance (ESG) criteria are becoming increasingly vital for exporters. We discussed how EDC’s commitment to net-zero emissions by 2050 and the issuance of green bonds have set a precedent. Thermtest shared its experiences with how ESG considerations are influencing its export strategy and supply chain, stressing the growing importance of these factors in securing and expanding market access.

5. Future innovations in global trade: Looking ahead, our experts speculated on the innovations and market changes that will shape the future of global exporting over the next decade. From technological advancements to evolving trade policies, the session concluded with a forward-looking perspective, encouraging exporters to stay agile and innovative.

Keep an eye out for next year’s Training Session here: Export Development News.