Exploring how international trade processes can make good use of AI technology

Artificial intelligence is impacting many areas of international trade. TSP is keenly aware of this industry trend and would like to discuss with industry friends the application of AI in international trade processes.

Trade Data Analysis: Trade data, including import and export records, customs data, market trends, and commodity prices, is vast and overwhelming. However, AI algorithms can process and analyze large amounts of information more effectively than humans or traditional statistical tools. With the help of AI systems, businesses and policymakers can now gain valuable insights, identify patterns, and make data-driven decisions to optimize trade strategies.

Trade Facilitation: AI-driven systems can reduce the time spent on tasks such as automated document processing, customs clearance, and risk assessment, thereby simplifying trade facilitation processes. By using natural language processing (NLP) algorithms, trade-related documents can be quickly analyzed and verified, reducing manual work and improving accuracy. The application of AI in customs risk assessment improves the security and efficiency of border ports, identifying potential risks and anomalies in cargo, thus enhancing border security and efficiency.

Supply Chain Management: AI technology is fundamentally changing supply chain management by optimizing inventory management, demand forecasting, and logistics. Machine learning algorithms can analyze historical data, market trends, and external factors to predict demand, optimize inventory levels, and improve order fulfillment rates. By using AI to facilitate real-time tracking and monitoring of shipments, better visibility can be provided, reducing delays and improving efficiency.

Market Intelligence: Using AI, systems can collect and analyze market data from various sources (such as social media, news articles, and online platforms) to provide real-time market intelligence. Companies can make informed decisions about market entry, product development, and pricing strategies in the 

field of international trade by monitoring market sentiment, consumer preferences, and emerging trends. AI-based market intelligence can enhance competitiveness and promote industry growth.

Elimination of Language Barriers: In international trade, language barriers are a major challenge that hinders effective communication between traders, businesses, and government officials. Various AI-driven language translation systems, supported by deep learning technology, can provide real-time translation services, facilitating seamless communication between users of different languages, regardless of their native language. This level of connectivity can facilitate smoother negotiations, collaborations, and sharing of critical information, thereby promoting stronger global connections.

Trade Regulation Compliance: For international trade, ensuring compliance with trade rules and identifying potential violations to avoid future issues is crucial. AI plays a key role in trade data and pattern analysis through the use of machine learning algorithms. This analysis can reveal discrepancies, including misclassification, smuggling, and evasion of trade regulations, thus uncovering fraudulent activities. The use of AI can improve regulatory enforcement through automated compliance checks, ensuring fair and transparent practices in trading markets.

Finally, Mr. Trans, the general manager of TSP, stated that although the topic of AI has been widely discussed recently, most small and medium-sized enterprises are still at the shallowest level of AI application, such as using it for document translation, etc. Our company's goal is to closely follow the development of the AI industry, apply reliable AI technology to production and research and development, simplify the process of international trade, and provide customers with the most convenient trading experience.