Since 1940 until now, Artificial Intelligence (AI) has seen strong developments and been replacing humans in various manual, time-consuming and laborious tasks. AI is also seeing growing popularity in business operations of various fields like: medicine, transportation, insurance, banking, translation, retail, and so on.
Popular AI application trends in businesses include: customer care automation, customer service experience personalization, cybersecurity improvement, sample identification, fraud detection, the current era, with strong developmental potentials in the future. Let’s recount several outstanding AI applications in businesses operations:
Chatbot: Virtual agents are effective on all digital platforms, SNS, and business websites. These chatbots allow businesses to take care of their customers, answer to customer inquiries at all times from anywhere, give advice or take the role of internal assistants, assist training, and solve frequently asked questions regarding businesses’ working processes.
Virtual agents for Call centers: Perform automatic two-way calls integrated to the call center channel. The Virtual agent for Call centers can automatize both inbound and outbound calls, as well as Smart IVRS. These functions allow for optimized work efficiency of call agents, who can now focus on answering to complex tasks like consulting and sales, thus saving costs for businesses.
e-Know-Your-Customer: As an alternative to traditional customer identification methods which require face-to-face interactions and official papers, eKYC allows digitalization of these processes using AI platforms. Businesses can therefore maximize their resources and reduce human errors and moral risks. Customer problems can also be solved immediately on a 24/7 basis, in a safe and secure manner.
Automatic identification and invoice extraction: AI can automatize procedures like processing, identification, and information extraction in multiple languages from images of official documents like ID card, driver license, and other forms and invoices using AI. Customers of these businesses only need to send a photo or scan of their personal documents for automatic information extraction and data storage in mere seconds.
Warehouse management and automatic supply chain: While AI can be used to perform particular tasks, even making decisions that require management seniority, the real power of this technology lies in improving human capability and this is exactly what’s occurring in the field of supply chain. This system allows management of stocks and supplies, which improves the overall efficiency of e-commerce, and ensures constant operations for the supply chain.
Electronic records management: AI allows effective management of shopping, payment, budget management, bill management… in enterprises, as it sets up a foolproof, transparent procedures, which enables in-time detection and notification of errors or property losses in the company. Along with that, AI also prevents overspending, reduces administrative approval time, improves work efficiency, and manage business risks.
Recruitment: Thanks to AI with its logical algorithms, business recruitment divisions can easily pinpoint and eliminate bias, which improves the overall recruitment procedure, at the same time attract a more diverse base of applicants. Thousands of application forms can be instantly evaluated and selected by AI. And in the future, this technology promises to set out and change people’s opinions, as alongside the vast amounts of data that it can process, AI can also form its own knowledge field for storage and interaction with applications.
Quick delivery and payment services: At the moment, Amazon is building a distribution system to safely deliver all small packages in under 30 minutes using pilotless drones. The Amazon Go technology is also enabling customers to experience automatically designed shopping experiences. In particular, sensors will track goods that customers add to their carts, and automatically deduct their accounts as they leave the store.
As proof to the effectiveness of AI application, a large manufacturer and consumer goods provider has utilized machine learning to assist traditional techniques in predicting, in order to improve accuracy and effectiveness in inventory management, freeing up analytics and numerical tasks that used to take up to 80% of time. This results in the firm having moved its resources to focus on providing only valuable market information, while other tasks are all done by AI.
Many Vietnamese businesses are also starting to deploy AI applications in manufacturing and management. However, there are still many hurdles in their paths, with occasion results falling under expectations.
Acknowledging these problems, FPT has officially kickstarted the FPT Tech Sharing competition with the aim to become an esteemed playground for tech lovers and a place for exchanging knowledge and experiences in enterprise tech development. The judge panel also comprises of experienced experts in researching and developing tech products. The first stage of the competition – FPT Tech Sharing #1, will be hosted with the topic “Pitching AI for business”, and is receiving submissions to the end of September 25, 2020.
With the topic of “Pitching AI for business”, authors can share their AI knowledge, scientific problems regarding the technology – both researched and in researching, successful AI applications in business operations; to help optimize efficiency, save costs, create breakthroughs, and improve competitive capabilities for businesses.
For each quality submission as evaluated by the judge panel, authors who joined FPT Tech Sharing will receive a 700,000 VND cash reward and have their work published on FPT TechInsight. There will be no limit for the total number of works submitted.
At the end of topic #1, the most prolific authors with quality submissions will receive an extra 1,000,000 VND award. The same will be given to the author of the most viewed article on TechInsight prior to September 25, 2020. The author of the most excellent work as evaluated by the judge panel will also receive the largest reward of 2,000,000 VND in cash. Furthermore, all participants with works published on FPT TechInsight will be invited to attend the tribute event “Knowledge Sharing Day 2020”, expected to be hosted in November 2020.
A qualified submission must meet the following criteria as issued by the judge panel, in: practicality (30%); academic (40%); linguistics, logic (30%), as specified below:
- Submission length must be between 900-1500 words (excluding image annotations, references, appendix);
- Submissions can be written in English, Vietnamese, or both;
- Submissions must not have been published on any other platform, with copyright rate under 20%;
- There will be no limit for the total number of works submitted per author;
- Submission can be done here. File title must specify: Tech Sharing – Full name of author.
The exponential growth of technology, especially AI, has completed transformed the economy, pushing businesses to develop, improve efficiency, and effectively manage internal operation and HR procedures. Artificial intelligence has become a vital part of technology, having solved myriads business problems. To delve yourself further in the technological flow, spread the values of AI, and get the chance to win attractive prize, do not hesitate to join FPT Tech Sharing!
FPT Tech Sharing #1: Pitching AI for business
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