TH
JP
When talking about AI and Machine Learning (ML), many people would become more familiar with them than before. This is because nowadays, AI has already entered our daily lives.
For example, online shopping applications are using AI to recommend products that customers are interested in. When you are watching series on online platforms, there are algorithms recommending other series with similar content to the series that you have watched, so you can choose your favorite one and keep watching.
The above-mentioned are just two samples in our daily lives. There are many other businesses that apply AI and Machine Learning as follows:
- Banking business and credit companies use machine learning to judge loan approval for their customers.
- Insurance business uses machine learning to approve various types of insurance, or to calculate insurance premiums that are suitable for their customers.
- Debt collection business uses machine learning to predict which customers it should call to follow up on debt, or even predict the best time to call them.
- Retail businesses like convenience stores and supermarkets use machine learning to predict customers’ demand and adjust number of ordered products to prevent shortages because it may cause the opportunity loss.
Many companies are interested in AI and would like to apply it in their businesses to increase profitability as well as solving current pain points. However, there are some obstacles preventing those companies from adopting AI and ML. Let’s see what the obstacles are, and whether your company is now confronting them or not.
What makes you think that your company is not ready to adopt AI and ML?
- No Topic: You don’t know what type of work you should start applying AI to, or what problems AI can solve, or even misunderstand that AI can solve all problems.
- No Data: You are not sure if your data is sufficient for processing with machine learning or not.
- No Budget: You don’t prepare a suitable budget because in your opinion AI is like data visualization.
- No Time: You are interested in AI but you have other urgent tasks that you need to put more priority on. Consequently, you have no time to focus on AI.
- No Talent: There are no experts in your organization, so you think you need to hire a specialist or train some employees to use AI tools first.
In fact, the key things your organization must have before adopting a machine learning solution are “Data” and “Problems you want to solve”. Beyond that, it depends on the AI and ML solution you choose whether it can solve the rest of the problems.
If you still don’t know which ML solution you should apply to your business, iCONEXT company would like to introduce “READY AI”.
READY AI is an AI system developed from knowledge and business experience of Ailys Company in South Korea. It is a company that has worked with global companies especially in the financial and banking sectors in Japan and Korea.
Main concept of READY AI
By just preparing your data and uploading it on READY AI system, it will process data clustering and data prediction automatically. General employees in your company can also use the system without relying on any experts like data scientists or data analysts.
What kind of business is READY AI suitable for?
READY AI is currently designed to be used in marketing and sales plan/sales promotion for finance business and loan business. There are the following 3 main use cases:
- Churn prevention: To prevent your current customers from not purchasing your products or services anymore.
- Cross-selling: To propose an additional product or service to an existing customer who purchases products of your company.
- Up-selling: To encourage customers to purchase a more expensive product, or an upgraded or premium version of the product they originally intended to buy.
In the future, we plan to develop more functions regarding credit scoring, debt collection, etc. to support more businesses.
Just only 3 easy steps, you can once apply AI result in your business
READY AI can be easily used with the 3 steps below.
- Setting your business goal (Business KPI). For example, if you want to increase sales by cross-selling, you can set the following items:
- Within how many months do you want your customers to buy the target product?
- How many customers do you plan to run the promotion?
Or you can input more options as below to let the system calculate ROI.
- The expected profit against number of customers
- Budget for the promotion
2. Uploading data to the system. You can select to upload customer data or transaction data, then map the data with the template shown on the screen. After that, the system will calculate and analyze the data automatically.
3. Getting the result through AI analysis as follows:
- The expected profit based on the number of customers you plan to offer promotions to
- ROI calculated based on your defined marketing promotions
- The score list of each customer who is likely to buy the target product
- Meaningful customer segmentation
Users in the Marketing Department or the Sales Promotion Department can download the result data in Excel format and use it to create sales promotion plans and propose the promotion to each customer based on the customer score.
Free Machine Learning Course for Business
For organizations that are interested in implementing READY AI or Machine Learning solutions but have no idea how to use them. iCONEXT company can provide a free training course “Machine Learning for Business” for your representatives.
In this course, you are going to learn what machine learning is, why it is needed for business today, and how it can be applied to your business. We will also introduce various business use cases.
This course is conducted in Thai language and it takes approximately 3 hours. You can propose a convenient date and time for the training and whether to join the online training via Microsoft Teams or let us arrange an onsite training course at your office.
You can now register for this free training course by clicking here.
If your organization is looking for an affordable AI/ML solution to solve business problems or increase sales and profitability, contact us at thaisales@iconext.co.th or click Inquiry Form, then you will no longer hesitate to use AI and Machine Learning.
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