AI brings great benefits to businesses
Having trained more than 1,000 businesses on AI applications in business, Ms. Jenny Nguyen, President of AZ Business Academy, easily cited a series of specific examples to demonstrate the benefits that AI can bring to businesses, especially small and medium-sized businesses with limited financial and human resources.
AI applications will bring many benefits to businesses.
Previously, to produce a video posted on social networks YouTube, TikTok could cost millions for many tasks, but now the total cost is only about 200 thousand VND for editing staff, and other steps can use AI to do easily in a few minutes, for example, using Voice AI for the voice part, Chat GPT for the script, and some other tools to create images.
There are businesses that used to spend a lot of money hiring design staff, now with AI tools, they just need to put in a photo, use a command, and it's done in a few seconds.
Many people have no knowledge about event organization, now just need to use Chat GPT, Bing Chat or some other tools, in just 30 minutes can create a relatively good program framework.
With marketing activities, many businesses have to spend at least 5-7 million VND to hire staff to write content, if the content is of better quality, the cost is about 12-15 million VND. Now, applying AI, businesses do not have to spend this amount.
Startups who want to plan their business do not need to find an expert to teach them about Business Model Canvas, but can learn by themselves through very detailed AI analysis tools.
Training staff is not an easy task for businesses. Knowing how to use AI tools and instructing staff to self-study will reduce the cost of hiring training experts. AI tools even instruct sales staff to respond to customer feedback in more detail than the normal style of staff talking to customers.
There are quite a variety of AI tools on the market. In terms of content creation support, there is not only Chat GPT but also Google Bard and many other tools. In terms of design, there is not only Misumi. To make Voice AI, there are dozens of tools and each tool has its own value.
“ When applying AI tools to actual production and business activities, the most important thing for businesses is to change their mindset, to know clearly which tools to apply, when, as well as the level of suitability of their business for each specific AI application. AI applications should not be deployed in a trendy way ,” Ms. Jenny Nguyen noted.
Economic trends
According to Mr. Nguyen Trung Trang, Director of Time Group Company Limited: “ The next trend of the economy is to apply new technologies such as Blockchain and AI in businesses to increase competitiveness. In the world , leading companies and corporations have applied. Vietnam cannot stand outside this trend. If we are slow, it will be a disaster .”
Mr. Nguyen Trung Trang shared at a workshop on applying new technology in businesses.
However, Mr. Trang also pointed out that applying AI technology to business operations is still full of difficulties. For example, there are still not enough necessary platforms. Enterprises that want to turn Chat GPT or support software into sales staff must provide all data about their products for Chat GPT to understand in order to sell products. However, there is still no platform for enterprises to provide Chat GPT data, in other words, they cannot apply it.
Further clarifying the statement that AI is a trend in the world, Mr. Tran Quoc Long, Director of the Institute of Artificial Intelligence, University of Technology, Vietnam National University, Hanoi, cited data from McKinsey's 2022 report: 50% of businesses interviewed said they had started applying AI, while in 2017 it was only 20%.
On average, each business uses four AI features. The two most common AI application functions in businesses are optimizing operational processes and providing services and using AI to create new products. In 2018, 40% of businesses spent more than 5% of their budget on AI, by 2022, the rate will increase to about 52% of businesses.
“ Businesses are willing to spend more as they increasingly see the benefits of technology. For example, chatbots and Chat GPT help businesses reduce the number of employees communicating with customers at call centers, which means cutting operating costs ,” said Mr. Long.
Sharing the same view that applying AI in businesses still faces many difficulties, Mr. Long analyzed: The process of collecting data to prepare for deploying AI applications will affect daily work, and employees even have to do additional manual data entry before the automatic data collection system operates smoothly.
Along with that, it is necessary to assess readiness, choose solutions, and change perceptions so that users accept the AI system. Enterprises must have great determination and be willing to sacrifice some things to be able to deploy. Many Vietnamese enterprises are still limited in capital and human resources, cannot overcome this step, so they still apply old technology.
“ Small and medium-sized enterprises with few people will have an advantage in deploying AI applications, which is to be able to quickly change and automate processes, while large enterprises will find it more difficult to apply AI because they have to “feed” a large workforce that is used to the old way of doing things. AI is now being provided as a service. Technology “giants” such as Amazon, Google, Microsoft… already have quite complete AI ecosystems.
Small and medium-sized enterprises can hire these services and quickly apply AI into practice, without having to invest too much in hardware and equipment. AI has arrived and will stay, not disappear. Enterprises should find out how to apply it properly for themselves. They should start with small-scale projects, for themselves first. It is necessary to build a culture of accepting AI, and when applying AI, they need to pay attention to ethical and legal aspects , "Mr. Long gave some specific recommendations.
From the perspective of an expert with many years of research on new technologies, Mr. Le Minh Hung commented that new technologies such as AI and blockchain are a great opportunity for Vietnam, bringing significant changes to the socio-economy, helping businesses optimize production costs and accelerate development.
“ New technology is constantly changing. Vietnamese people are very good at adapting to new things, have the ability to absorb and accept well. Currently, Vietnam is in the Top 50 in the world in AI application. We have contributed ideas and advised government organizations on orientations and policies related to new technology. Hopefully, in the future, there will be more promotion of technology application in enterprises in Vietnam ,” Mr. Hung shared.
Emphasizing that “ new technologies are contributing value to the economy, helping to solve specific problems in social life, not just existing on paper or in research ”, Ms. Bui Thi Thanh Hang, Department of Market Development and Science & Technology Enterprises, Ministry of Science and Technology added: In order to promote AI application in Vietnam, since 2021, the Government has issued Decision No. 127 promulgating the National Strategy on research, development and application of AI to 2030. In which, the direction is clearly defined: “Increasing the number of enterprises deploying, developing and applying AI to meet domestic demand for fields that are ready in terms of data, technology and investment capital”.
Mai Hien
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