Artificial Intelligence (AI) is increasingly popular and used in many fields. Therefore, businesses will find very great benefits if they exploit AI reasonably.
1. Intelligent Business
Today, due to the fierce competition in the business environment, businesses tend to pioneer in any business decision. Thanks to the sophistication of today’s analytical tools, business decisions are made more precisely, avoiding the risks of misleading or intuitive guesses.
In order to make effective business decisions, tracking and collecting business information as well as managing data becomes important to work for businesses. While traditional business methods and tools are struggling to cope with large and varied data volumes, it is a chance for AI to be applied practically. Advanced algorithms are now used to manage large amounts of data and can generate reports when businesses need at any time.
Another interesting development in AI is the creation of an automated response system (chatbot). The development of natural language processing has enabled the systems to handle and respond to multiple business conversations automatically. The widespread use of virtual assistants like Apple’s Siri or Microsoft’s Cortana for regular tasks is proof of what chatbot can do.
For businesses, chatbot can provide a degree of automation and release of resources used to control the account management function and regular support.
In the general trend of the 4.0 revolution, FPT has developed a comprehensive artificial intelligence platform FPT.AI, applied advanced technologies such as machine learning, natural language processing, computer vision; providing solutions to optimize business activities of enterprises with 4 products: FPT.AI Conversation; FPT.AI Speech; FPT.AI Vision; FPT.AI Knowledge.
Localizing or providing user experiences for a particular market has become a major concern for e-commerce today.
In the past, enterprises engaging in the cross-border e-commerce faced many difficulties in terms of language. Imagining when the goods go to a locality, you have to translate all your product descriptions in the local language. With thousands of items, you will spend a lot of time and money, not mentioning the accuracy of the translation. However, today’s natural language processing AI can produce simple, accurate and fast translations that make it easier for businesses to access multiple markets.
Besides localization, another way for businesses to provide a more attractive customer experience is through personalization. Using AI, personalization can now go further in setting up a web browser to collect user preferences.
E-commerce can provide recommendations based on users’ browsing history and shopping preferences. You easily find this in Amazon’s suggestions. Suggestions are reported to account for 35% of Amazon’s revenue and are considered a key business technology of the company.
Today, businesses can implement their own algorithms to promote images, create customer tracking data systems, and provide purchase recommendations for users to increase revenue.
Businesses that rely on manufacturing and logistics can improve their supply chain management through AI by effectively managing inventory and streamlining operations.
AI can track supply and demand in areas where a business serves so that it can adjust and move inventory from low to high demand markets by itself. AI can also set prices for goods.
Even with the current freight improved by AI, it is also used to map out routes to freight goods and achieve the best effect.
Source: Network WorldRelated posts: