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Artificial Intelligence (AI) Applied to Foreign Trade: How to Ask ChatGPT

One of the main uses of Artificial Intelligence (AI) applied to international trade is to obtain information related to export and import operations. The key to this is know how to ask the AI being used (e.g. ChatGPT), through what are called prompts.

A prompt is essentially a specific instruction or query given to ChatGPT to get a response or perform a specific task. It is a direct and concise way of communicating with the model, requesting precise information or specific actions. It is like asking a question to an expert, but in this case, that expert is a highly trained machine.

Below are 75 practical prompts that can be used to obtain information or perform specific tasks related to international trade. These prompts are only examples and can be adapted according to the specific needs of the exporter or importer.  They are categorised with respect to the different areas of foreign trade from obtaining market information to communications with potential clients.

Market Information

  • Identify the top three countries exporting [product] to [country].
  • Evaluates the exports of [product] from [country] to [country] in the last three years.
  • Analyses the market for [product] in [country] and determines its export viability.
  • Assesses the demand for [product/service] in [country] for the next year.
  • Identifies the main manufacturers of [product] in [country].
  • Identify the main importers of [product] in [country].
  • Identify the main companies operating in [sector] in [country].
  • Identifies main competitors for [product/service] in [country].

Customs Tariffs and Regulations

  • Identify the [six/eight] digit tariff code for [product].
  • Calculates the customs tariffs for exporting [product] to [country].
  • Evaluates the cost of customs clearance in [country].
  • Detail the regulations for importing [product] from [country] to [country].
  • Identify customs restrictions for sending [product] to [country] by [sea/land/air]. [maritime/land/air].
  • Identify the trade agreements that [country] has with other countries.

Logistics and Supply Chain

  • Optimises the logistics route to ship [product] from [country of origin] to [country of destination] by [sea/land/air].
  • Determines the estimated delivery time for [product] shipped from [country of origin] to [country of destination] by [sea/land/air].
  • Identifies maritime connections from the [port] in [country] to the main ports in [country].
  • Recommends strategies to reduce logistics costs when shipping [product] to [country].
  • Evaluates the cost of shipping [number of pallets] from [city] in [country] to [city] in [country].

Incoterms and Transport

  • Which Incoterm to use to export to [country] by [sea/land/air] and with [high/medium/low] risk.
  • Recommend Incoterms for imports from [country] using sea/land/air] transport for [perishable/non-perishable] products.
  • Determines the most appropriate Incoterm for shipping heavy machinery to [country] by [sea/land].
  • Identifies the advantages and disadvantages of using [Incoterm] versus [Incoterm] to export [product] from [country] to [country].
  • Provides Incoterms for [high/medium/low] risk exports to [country] using [air] transport.
  • Identify the main differences for the [exporter/importer] between [Incoterm] and [Incoterm].
  • What are the costs of the foreign trade operation that the [exporter/importer] bears in [Incoterm].

International Finance and Payments

  • Which means of payment for foreign trade transactions is recommended for exporting from [country] to [country].
  • What alternatives are most advisable to cover the exchange rate risk in an [export/import] from [country] to [country].
  • Recommend insurance for exporting [product] to [country] with a [high/medium/low] risk.
  • Assesses political and economic risks when doing business in [country].
  • Determines the appropriate insurance coverage to ship [product] to [country] by [sea/land/air].
  • Assesses the financial stability of [country] for long-term investments.

Documentation and Certifications

  • Detail the documentation required to export [product] to [country].
  • Identifies certifications required to ship organic products to [country].
  • Recommends procedures for obtaining a certification of origin for [product] destined for [country].
  • Explains the process for validating export documents for [product] in [country].
  • Details the labelling regulations for [product] in [country].
  • Explains the environmental regulations for exporting [product] to [country].
  • Identifies restrictions or prohibitions for shipping [product] to [country].
  • Recommends practices to comply with sustainability regulations in [country].
  • Identifies relevant sustainable certifications for exporting [product] to [country].
  • Recommends ethical production practices for [product] destined for [country].

Technology and Digitalisation

  • Recommends online positioning strategies to promote [product] in [country].
  • Recommends social media strategies to promote [product] in [country].
  • Recommends technology solutions to track shipments of [product] to [country].
  • Identifies digital platforms to facilitate B2B trade with [country].
  • Provides AI tools to optimise the supply chain between [country of origin] and [country of destination].

Marketing and Branding Strategies

  • Provides marketing strategies to launch [product] in [country].
  • Recommends branding tactics for [product] in the [country] market.
  • Evaluates the most effective distribution channels for [product] in [country].
  • Identify relevant influencers or brand ambassadors for [product] in [country].

Business Relationships and Networking

  • Provides tips for establishing strong business relationships in [country].
  • Recommends events or trade fairs in [country] relevant to [product/service].
  • Identifies trade associations in [country] relevant to [sector].
  • Outlines strategies to strengthen the network of contacts in [country].
  • Explains the importance of cultural adaptability when establishing business relationships in [country].

Investment and Market Opportunities

  • Analyses investment opportunities in the [specific] sector in [country].
  • Assess the market potential for [product] in [country] in the next 5 years.
  • Identifies emerging sectors in [country] with growth potential.
  • Recommends specific regions or cities in [country] for establishing [product/service] branches or subsidiaries.
  • Identifies tax and other advantages offered by [country] for the establishment of foreign companies.

Drafting Commercial Communications

  • Provides a cover letter template to introduce [product/service] to the [country] market.
  • Draft an e-mail to request a business meeting with a potential distributor in [country].
  • Create a press release for the launch of [product] in [country].
  • Provides a distribution contract template for [product/service] in [country].
  • Draft a formal invitation for a [product/service] launch event in [country].
  • Provides a standard response to commercial enquiries related to [product/service] in [country].
  • Creates a business proposal to offer [product/service] to potential customers in [country].
  • Produces a post-business meeting thank you with a potential partner in [country].
  • Provide a follow-up template for unanswered business enquiries in [country].

However, while the answers to all these questions will be relevant and useful for exporting and importing companies, it is essential to understand that, although ChatGPT is a powerful tool, the information provided should be considered indicative and not definitive. It is always advisable to cross-check the information with other sources or with experts in the field of international trade.