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Increase profits, optimize business processes.

According to Fortune Business Insights, the global retail AI market is projected to grow from $9.36 billion in 2024 to $85.07 billion in 2032, with a CAGR of 31.8%. Many factors contribute to this impressive growth, and the application of AI for business purposes is one of the key elements.

The digital revolution is driving retail businesses to apply AI to automate many operational aspects, upgrade the professional skills of their staff, and deliver high-quality customer experiences, helping businesses increase profits while optimizing business processes.

AI can enhance the experience for both businesses and customers through advanced solutions such as inventory management, shipping processes, data analytics, demand prediction, and customer service. User data is a "treasure," and after being analyzed by AI algorithms, it becomes concrete evidence for businesses to make in-depth assessments, understand customers, build growth strategies, minimize business risks, and increase their chances of leading market trends.

Customers will be categorized and automatically recommended suitable, personalized products/services and promotions based on their needs, behavior, and preferences. Simultaneously, many AI solutions offer multi-channel, 24/7 customer service through virtual assistants (chatbots and voicebots), providing customers with an enjoyable and efficient shopping journey, fostering customer loyalty and engagement with the business, thereby increasing repeat purchases and boosting revenue.

Setting new standards in customer interaction.

Compared to many slow and outdated traditional customer service methods, AI virtual assistants with their instant, anytime, anywhere response have become the standard for businesses to interact with customers.

In Vietnam,FPT AI virtual assistants are integrated across multiple channels, ensuring timely customer support. FPT AI Chat (chatbot) is integrated into messaging platforms such as Messenger, Zalo, and Instagram; FPT AI Engage virtual assistant (voicebot) is integrated into customer service call centers, capable of automatically receiving incoming calls, simultaneously making thousands of outgoing calls, and handling calls according to pre-set scripts.

Beyond basic tasks like answering frequently asked questions, many retail businesses deploy virtual assistants to perform complex tasks such as customer surveys, advising on new products/services, reminding customers of shipping schedules, and handling complaints. A key strength of AI virtual assistants is their ability to handle a large volume of queries simultaneously without compromising response quality, while also seamlessly integrating with a company's CRM system.

Beyond helping businesses improve customer satisfaction, streamline operations, and save costs, AI assistants also deliver a faster, more intuitive, and better-personalized service experience for customers.

In addition to operational activities, a highly skilled workforce is the foundation for the sustainable development of a business. Therefore, many retail businesses have implemented long-term investment strategies in human resource training to enhance employees' professional skills, supplement their specialized knowledge, and guide them on how to leverage AI capabilities in learning and work, thereby encouraging career development and increasing their personal strengths.

Built on the FPT GenAI artificial intelligence platform, following FPT Smart Cloud's GenAI-fist strategy, FPT AI Mentor is a next-generation training method that offers numerous advantages and benefits for learners. The FPT AI Mentor solution is favored by retail businesses due to its many intelligent and modern features, helping to eliminate learning barriers related to time, space, flexibility, and proactiveness. It also helps managers understand the strengths and weaknesses of each employee, enabling them to develop training courses tailored to individual capabilities or create personnel plans based on employee strengths.

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Mr. Nguyen Tan Hung, representative of FPT Smart Cloud, shared insights on AI applications in the supply chain sector - Ho Chi Minh City, December 27, 2024

On June 27, 2024, at the C-Talk high-level event on digital transformation strategy for business leaders, Mr. Nguyen Tan Hung - Director of AI Business for the Southern region of FPT Smart Cloud - shared about advanced AI solutions with high applicability in the retail industry, which are being implemented in practice and effectively addressing the stringent requirements of many leading retail businesses in Vietnam.

The retail industry is maximizing its potential and effectively leveraging the power of AI in many aspects of its operational processes, optimizing both infrastructure and human resources, thereby achieving competitive advantages for sustainable growth in the face of changing times.

Bich Dao