With the power of data analysis, prediction and providing optimal solutions, artificial intelligence (AI) can improve work performance, optimize costs and resources, and provide personalized solutions for customer management and human resource management in businesses.
Artificial Intelligence (AI) has become a trend applied in all aspects of economic and social life of people today. In particular, AI is becoming an important trend in application in business operations. With its power in data analysis, prediction and providing optimal solutions, AI can improve work performance, optimize costs and resources, provide personalized solutions for customer management, human resource management in businesses.
Elon Musk, technology entrepreneur, founder, CEO of SpaceX, Tesla, Inc., and technology companies, has said: “AI – artificial intelligence can do any job that humans do – but better.”
The importance and outstanding effectiveness of AI in modern life, especially in the way of operating and managing work under the eyes of a world-leading billionaire and also the most creative leader in the Forbes 2019 list, really makes it impossible for us to "ignore" the magical power of AI as well as ask the question of which fields AI has participated in, what is the current trend of using it in business operations...etc. Let's find out:
According to an IBM survey (2022), there are up to:
- 35% of global companies use AI in their workflows and enhance customer experience to date
- 58% of companies in China adopt AI and 30% are exploring AI
Global AI trends also have notable figures such as:
1. AI has been used in many fields
The applications of AI are extremely diverse, it has been applied in many different economic fields as well as fields in the operational chain of a business or organization.
According to Forbes, the results of an online survey of 600 business owners in the US who are using AI or planning to use AI in the next 6 months from the date of the survey, some industries are leading in applying AI to business operations including:
- Customer care (56%) : AI is used to automate customer service tasks like answering questions, resolving complaints, and providing technical support.
- Cybersecurity and fraud management (51%) : AI is used to detect and prevent cybersecurity threats, as well as to identify and prevent fraud.
- Personal digital assistants (47%) : AI is used to provide personal support services to employees and customers, such as appointment scheduling, planning, and project management.
In addition, AI is also applied in many other industries such as:
- Customer Relationship Management (CRM)
- Inventory Management
- Content production
- Product Recommendations
- Accountant
- Supply chain operations
2. Trends in using AI to improve customer experience
Reality has proven the tremendous influence of AI in business operations. The most outstanding contribution it brings to the field of Customer Care has been proven by the rate of businesses using AI in this field.
The application of AI in the field of Customer Care is extremely important and is a prerequisite in improving business performance. It is like a compass for all stages of the supply chain and business operations of the enterprise: from production, purchasing, marketing, finance...
Any business born has the goal of seeking profit from selling its products and services to customers, and to do that they must sell what "customers need" by satisfying customers' tastes and needs in an optimal way.
Human intelligence is an undeniable ability, however there are things that normal human labor cannot do, but AI can do.
The birth of AI has opened up an era of explosive development for the Customer Care field thanks to the applications with multiplied efficiency that AI technologies bring such as chatbots, auto-reply emails, personalized services, text messages, personalized advertising based on user analysis and its unlimited data collection and analysis capabilities, helping businesses to provide customers with diverse and most suitable choices for the products and services they desire... Not only does it benefit businesses by cutting down on human resources and management costs, AI also brings customers great experiences when with just 1 click, 1 command, all the information they need is provided as fully as possible. It truly brings dual benefits to both businesses and their customers.
The simplest and most popular application of AI technology in the customer care process is the use of an automatic chat box, with pre-formatted sentences, automatically responding to common customer questions and requests (used by 73% of businesses). Next is the automatic mailbox, this form is also very popular for businesses to respond and send notifications to partners, customers, etc.
AI can replace humans in chatting, sending emails... or with some high-demand jobs such as direct customer support over the phone, the trend of using AI in the customer service field is also up to 36% and will certainly increase in the near future.
3. Predicting the growth trend of products applying AI technology
From the outstanding benefits of applying AI technology, businesses now consider AI application not only a trend but also a mandatory requirement to develop and keep up with the rapid development of the digital era.
Therefore, AI is not just a pilot model or a “science fiction” technology, but it is actually part of the vital development strategy of businesses. According to research from Forbes, companies that continue to apply AI technology in production and business activities tend to diversify in all areas as well as improve quality and efficiency.
According to researchers, the application of AI technology in business operations will bring businesses a compound growth rate of 37.3% from 2023. The compound growth rate brought by the application of AI technology is estimated at 1.85 trillion USD, and is expected to contribute 15.7 trillion USD to the global economy by 203
4. Many regions and territories are accelerating the deployment of AI in many of their fields.
AI is like a “core” technology, included in the development goals of economic powers on a global scale. With the current development of digital technology, AI application is mandatory to develop and anticipate new technology trends.
With the benefits of applying AI to production and business, it can be affirmed that the leading countries in the field of AI development and use will shape the future and significantly improve the competitiveness of the economy.
The US and China are both asserting themselves as the two leading powers on the world's AI technology development map, however, the statistics from IBM below clearly show the interest of businesses in countries in exploring and applying AI in operations and business activities:
The awareness of artificial intelligence – AI among users globally is also very remarkable.
According to a survey of 10,000 people in 13 countries by Capgemini research instite (2023), there are:
- 66% of customers are willing to seek advice from AI for personal relationships or life plans
- 53% of users trust AI to help with financial planning
- 51% of users are aware, updated and ready to explore the latest trends in AI technology
AI usage trends by enterprise size can be organized as follows:
For small businesses with less than 100 employees, AI is used as a tool to save costs and development time. Available SaaS technologies, APIs... are utilized by these businesses to automate simple, repetitive tasks to improve operational efficiency. AI technology is commonly seen in Chatbots for customer care and advertising optimization...
Medium-sized enterprises with 100-300 employees will start building AI teams by hiring AI experts or partnering with technology consulting firms to develop customized solutions. The main purpose of this group of enterprises is to improve business processes, decision making and customer experience. AI applications are used to check product quality, predict customer needs, personalize website content, etc.
Finally, the group of large enterprises with a workforce of over 300 people, this is also the group that pioneers and creates breakthroughs in AI technology. They will have a strategy to build a dedicated AI department, attract and maintain a team of leading AI experts to develop advanced solutions. In these enterprises, AI technology is typically applied as artificial general intelligence (AGI), automatic robots, intelligent chatbots that communicate in multiple languages, multiple channels, etc.
The diversity of AI solutions on the market
AI is present in all aspects of economic and social life with a variety of AI applications emerging, serving the needs of individuals and businesses, from private to government..., We can list a series of popular AI solutions today: Chatbot and customer interaction system, automatic language translation, creating customized educational content, voice recognition system, deep learning in human-machine interaction, data prediction and analysis, image and video recognition..
5. Prediction and assessment in the near future
With the effectiveness it brings, the application of AI in enterprises will continue to grow strongly in the future. Hardware is developing rapidly, generations of GPGPU chips with powerful performance are born, the cost of AI systems will be increasingly optimized, this makes AI tools easier to use, allowing more businesses to apply AI to their business operations. AI systems will be continuously improved to become smarter, capable of self-learning, adapting to new environments and making more complex decisions, increasingly infiltrating existing business systems, integrating into existing ERP, CRM and SCM systems, helping businesses automate and optimize their business processes. AI will also be used for many new application purposes, such as new product development, scientific and medical discovery, and personalizing customer experiences.
At that time, the responsibility of businesses as well as individuals is to recognize the changes in technology and the times, thereby changing the way of thinking and acting to adapt themselves. In the AI era, the role of humans will change, we will focus more on creative and strategic work. AI will free people from manual and repetitive work, allowing them to focus on work that requires creativity, critical thinking and problem solving skills. One of the new "must-have" skills in this era is to use AI effectively, the most common example is to give prompts effectively. The widespread application of AI will lead to major changes in the way businesses operate, and individuals also need to adapt to these changes to succeed.
6. Advice for businesses
To apply AI to businesses most effectively, businesses need to set out a clear work plan for each stage. Below are some suggestions and guidelines when making decisions to apply AI to business operations.
- Define clear goals: Clearly define the purpose and what needs to be achieved by applying AI before starting, this will help businesses not get sidetracked or waste too many resources.
- Develop an AI strategy: AI is the trend of the present and the future, a long-term AI strategy for the business will help the business stay on track and continuously take advantage of the best advantages of technology.
- Start small: AI implementation will bring about a major change in the way businesses operate, and this needs to be done carefully, precisely, and slowly to allow for adjustment and adaptation time for business employees.
- Invest in data: Data is the deciding factor in the effectiveness of AI, the higher the quality of the data, the more accurate the results AI will give.
- Attracting talent: AI skills will become a hot skill, businesses need to focus on employees with AI skills. Including recruitment, training and incentives.
- Ensuring security and ethics: If smart technology is misused, it will create many risks and dangers. Businesses need to be vigilant and take measures to ensure that AI systems are used safely and ethically.
7. Conclusion
The global AI trend is growing strongly, combined with the increasing number of users who are aware of, prefer and are willing to explore and experience AI, which has created a diverse market of AI solutions. There will be more and more AI applications applied in real life, which is an opportunity for businesses to use and develop more new AI applications. Applying AI in businesses is a strong development trend and has great potential in promoting socio-economic development. However, to successfully apply AI, businesses need to be well prepared in terms of strategy, resources and human resources. In addition, ensuring ethics and transparency in AI applications is also an important issue that needs attention.
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