Generative AI Reshaping International Trade Pattern: How Do Foreign Trade Enterprises Seize Opportunities

Abstract

The year 2023 is the first year of the outbreak of generative artificial intelligence applications, and digital transformation has also become the development trend of international trade today. Digital transformation, driven by the rapid development and adoption of generative AI technologies, has also become the dominant trend of international trade in the contemporary world. Generative AI, exemplified by ChatGPT, a powerful natural language generation model, has attracted global attention and sparked heated discussions about its implications and possibilities in different fields. Generative AI is a subset of artificial intelligence, which create new content from existing data by learning the underlying patterns and structures of the data. International trade, as an important part of the global economy, is inevitably influenced by the emergence and advancement of generative artificial intelligence. This paper aims to explore the current and potential impacts of generative artificial intelligence on international trade, focusing on three main aspects: creating new value from data, data analysis and preparation. The paper argues that generative artificial intelligence offers unprecedented opportunities for the international trade industry, as it help sellers in international trade to create more diverse and customized products and services, to optimize their production and marketing strategies, and to increase their competitiveness and profitability. The foreign trade enterprises should seize the opportunity and adopt proactive and innovative approaches to leverage the benefits of generative artificial intelligence, while also being aware of and prepared for the potential risks and challenges it poses to international trade.