Since the first chatbot was created in the 1960s, technological advances in AI have made them much more sophisticated in recent years and now they are increasingly appearing in the federal government domain. The International Trade Administration (ITA), an agency of the U.S. Department of Commerce, has launched the Global Business Navigator (GBN) Chatbot, an AI tool that is designed to provide general information on the exporting process and the resources available to assist new and experienced U.S. exporters. The GBN Chatbot is one of the latest free government trade-related tools and resources intended to help U.S. exporters and other stakeholders make informed decisions.
According to the ITA, the GBN Chatbot is still in beta testing stage and can field requests pertaining to the vast amount of information found on the hundreds of webpages of the Export Solutions section of trade.gov. It addresses all kinds of general exporting topics, ranging from how to find the best international market for a product and create an export plan to resolving trade disputes. Each query successfully retrieved by the GBN Chatbot includes a reference section (to specific trade.gov webpages), should users want to take a deeper dive into the information.
When the GBN chatbot was asked trade finance-related questions such as “How can I minimize risk when exporting?”, “How can I get assistance with buyer financing or accessing additional credit?”, and “I want to export but my bank isn’t comfortable with the country risk – what should I do?”, EXIM’s products and programs always came up as a solution. The GBN Chatbot referenced:
- Export Credit Insurance which enables eligible U.S. exporters to offer more favorable open account terms to foreign buyers rather than requiring them to either pay-in-advance, obtain letters of credit, or provide cash against documents
- Working Capital Loan Guarantees which improves cash flow for U.S. exporters
- Other EXIM Products and Programs such as foreign buyer financing and direct loans
Users seeking in-person meetings with ITA staff are directed by the GBN Chatbot to the ITA's Local Resources page which includes a directory of U.S. Export Assistance Centers (USEACs), offices around the country staffed with representatives from the U.S. Commercial Service, U.S. Small Business Administration, and EXIM who work collaboratively to assist U.S. exporters. For those who are export ready and would like more information about EXIM, please click here to schedule a free consultation with an EXIM trade finance specialist or select the “Live Chat” popup in the lower right-hand corner of your screen.
