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Increase profits, optimize business processes

According to Fortune Business Insights, the global AI market size in the Retail industry is expected to grow from $9.36 billion in 2024 to $85.07 billion in 2032, at a CAGR of 31.8%. There are many factors contributing to this impressive growth, and the application of AI for business purposes is one of the key factors.

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

AI can enhance the experience for both businesses and customers with advanced solutions such as inventory management, shipping processes, data analysis, demand prediction, customer care (CSKH)... User data is a "treasure" and after being analyzed by AI algorithms, the data is real evidence for businesses to have in-depth assessments, to understand customers, build growth strategies, minimize business risks, and increase opportunities to lead market trends.

Customers will be classified and automatically recommended suitable products/services, promotions, personalized according to their needs, behaviors, interests... At the same time, many AI solutions have the ability to provide multi-channel, 24/7 customer service through Virtual Assistants (chatbots and voicebots), providing customers with an interesting and effective shopping journey, nurturing customer loyalty and engagement with the business, thereby increasing the rate of return purchases and increasing revenue growth.

Setting new standards in customer engagement

Compared to many traditional customer service methods that are slow and outdated, AI Virtual Assistants with instant, anytime, anywhere response have become the standard for businesses to interact with customers.

In Vietnam, FPT.AI Virtual Assistant is integrated with multiple channels, ensuring timely customer support. FPT AI Chat (chatbot) is integrated on messaging platforms such as Messenger, Zalo, Instagram; FPT AI Engage Virtual Assistant (voicebot) is integrated into the customer service switchboard system, capable of automatically receiving incoming calls, simultaneously making thousands of outgoing calls and calls according to available scenarios.

In addition to basic tasks such as answering frequently asked questions, many retail businesses deploy Virtual Assistants to perform complex tasks such as customer surveys, consulting on new products/services, reminding shipping schedules, receiving complaints... The outstanding strength of AI Virtual Assistants is the ability to simultaneously perform a large volume of queries without affecting the quality of responses, while easily integrating seamlessly with the business's CRM system.

Not only does it help businesses improve customer satisfaction, streamline operations, and save costs, AI Assistants also deliver faster, more intuitive, and better-personalized service experiences to customers.

In addition to operational activities, highly specialized human resources are the foundation for the sustainable development of a business. Therefore, many retail businesses have long-term investment strategies in human resource training, aiming to improve professional skills for employees, supplement professional knowledge, orient employees on how to take advantage of AI capabilities in learning and working, to encourage employees to develop their careers, and increase their personal strengths.

Built on the FPT GenAI Artificial Intelligence platform according to the GenAI-fist strategy of FPT Smart Cloud, FPT AI Mentor is a new generation training method, converging many advantages and utilities for learners. FPT AI Mentor solution is popular with retail units because it possesses many smart and modern features, helping to eliminate learning barriers in terms of time, space, flexibility, and initiative, while helping managers know the strengths and weaknesses of each employee, thereby building training courses suitable for their abilities or having a human resource plan based on the strengths of the employees.

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FPT Smart Cloud representative - Mr. Nguyen Tan Hung shared about AI application in Supply Chain field - Ho Chi Minh City, December 27, 2024

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

The Retail industry is maximizing its potential and effectively leveraging the power of AI in many stages of the business's operations, helping to optimize both facilities and people, thereby gaining competitive advantages for sustainable growth ahead of the times.

Bich Dao