Innovative approaches to risk management in foreign economic activity: the use of blockchain and artificial intelligence

Abstract

The article is aimed at highlighting the key aspects and results of the study of innovative approaches to risk management in foreign economic activity with an emphasis on the use of blockchain technologies and artificial intelligence, which will contribute to the further development of theory and practice in this area. It has been shown that traditional risk management methods are often not effective enough in dealing with new challenges. In this context, innovative technologies such as blockchain and artificial intelligence offer new opportunities to improve risk management processes. The purpose of the study is to systematize innovative approaches to risk management in foreign economic activity based on the use of blockchain and AI technologies. Research methods include analysis of the latest research and publications in the field of blockchain technologies and AI, as well as the study of practical cases of their application in various sectors of the economy. The results of the study show that blockchain technology ensures decentralization, immutability and transparency of systems, which reduces the risk of fraud, inefficiency and unpredictability in foreign trade processes. Blockchain allows you to create decentralized supply chains, where all participants have access to up-to-date information on product flow, which increases trust between partners and reduces the risks of delays and losses. Smart contracts automate the execution of agreements, minimizing the risk of non-fulfillment of obligations and simplifying the dispute resolution process. AI, in turn, is able to analyze large volumes of data and predict possible risks, which allows enterprises to take measures to minimize them in advance. AI also optimizes supply chains, automates customs declaration processing, improves cybersecurity and detects fraudulent transactions. The findings of the study confirm that innovative technologies such as blockchain and AI can significantly increase the transparency, security and efficiency of foreign trade processes, reduce risks and improve the competitiveness of Ukrainian enterprises in international markets. The use of these technologies makes it possible to reduce financial, logistics, legal and cyber risks, which is important for maintaining and expanding international contacts and markets.