AI technology boosts revenue and cuts costs for companies
Artificial intelligence technologies have been integrated with business decisions, telecommunications and finance to directly boost the revenues of firms, especially small and medium enterprises, industry officials told the ongoing World Artificial Intelligence Conference.
Autonomous driving, sci-fi style robots and image/video recognition are cool, but enterprises need digital tools to upgrade services and products, cut costs and bring new income sources, said Guan Weiyong, chairman of the Shanghai Federation of Industrial Economics.
After the COVID-19 pandemic, most enterprises face challenges.
They urgently need AI tools to help them survive and recover business.
"The biggest challenge is the lack of intelligent decision-making tools," Datatist Founder Song Bilian told a WAIC forum.
Datatist, a Shanghai-based startup and the forum's organizer, offers AI technologies that quickly reduce costs and increase business efficiency.
Firms from Haier, GF Securities, Red and PwC shared their experiences on business decision AI.
In another forum, China Mobile released an open AI platform for developers, enterprise users, equipment vendors and researchers on cross-industry innovation and cooperation. They cover AI and 5G convergence and autonomous driving research. In 2025, China Mobile's AI platform will support Level 4 autonomous driving.
The carrier, with more than 940 million mobile subscribers, offers incubation, research, resource sharing and other support for AI developers and SMEs, China Mobile said.
OneConnect, a New York-listed Fintech firm, displayed smart government and enterprise platforms. It offers tools for SMEs to accurately and efficiently locate resources for their financing needs.
With AI, it aims to "promote digital transformation, support the real economy and facilitate rural revitalization," said its Chairman and CEO Ye Wangchun.