Application of science and technology to increase competitive advantage in the market (Part 1)

In the world today, many companies have been successful thanks to technology business. It can be said that business strategies and scientific and technological advances always go hand in hand in the new era, so the amount of money invested in high technology to increase the competitiveness in the market is very popular. Heading as an effective solution.

We are living in the industrial revolution, where big companies like Yelps, Netflix and Lyft have been working to overthrow the era of domination of old giants like Zagat, Blockbuster. Thereby, the message being transmitted is quite clear: “Adapt to modern technologies of the new age or become obsolete”.

For many leaders, the impetus to catch up with innovation is confusing for them because new technologies are constantly being launched and changing rapidly. The US economy grew 2.3% last year, but the number of companies that have to go bankrupt is not small, the reason here is because they invest too much money in inappropriate technology.

Fortunately, early research in this area provides us with many opportunities to evaluate the effectiveness of these new technologies. The following are the most prominent of them, they have been widely applied in many different fields and have achieved certain results. From these examples, we can learn how to leverage these new technologies to bring better service to our customers.

Artificial intelligence (Artificial Intelligence-AI)

Artificial intelligence has triggered a media explosion that includes both excitement and fear of this new technology. This is not a new concept – this idea has been around since 1956 – but recently, developers have been able to generate enough data to enable these AI programs to solve it. solve the basics as well as optimize it more effectively.

In a recent Gartner study, all companies surveyed intend to use AI to solve problems related to their businesses, of which 41% of businesses have started to try. experience this technology. Machine learning has also become an integral part of integrated systems, providing greater insight into business data and improving decision-making based on collected data.

Referring to the supply chain, while experienced professionals often reserve too much or too little, machine learning technology with their algorithms can make the most accurate predictions to save warehouse costs. yards for manufacturers. Nestle has used predictive tools for supply chains throughout its system with 447 factories in 197 countries around the world. This plan has helped them increase sales accuracy up to 9% in the Brazilian market.

Salesforce – an American cloud technology company – has recently launched CRM solution, which uses machine learning technology to build database system of their customer information and help the public. The company has many new opportunities in business.

(To be continued)

Productivity and Quality Office