The Future of AI in Business: A Global Perspective

AI is transforming the business world, and Chinese companies are at the forefront of this revolution. Jerry Ye, a Caltech graduate, returned to China in 2017 to establish Whale, a global AI company. Whale specializes in AI software and hardware for retailers, boasting clients like Starbucks, Xiaomi, and Unilever. Recently, Whale secured $60 million in a Series C funding round, with investors including Bosch Ventures, Singtel, and MDI Ventures. The company operates from Hangzhou, China, and Singapore. The U. S. -China trade tensions have not deterred Whale's global ambitions. Ye emphasizes that business is business, and their clientele is worldwide, including giants like Procter & Gamble and Watsons. The AI race is heating up, with the U. S. and China leading the charge. In China, AI is making waves in marketing and sales, while in the U. S. , it's gaining traction in niche sectors like transportation and legal services. Southeast Asia is likely to adopt AI models from either of these markets. AI's potential in business is immense, particularly in marketing and sales. These areas see quick returns on investment, making them ideal for AI implementation. AI can bridge the gap between customer understanding and brand communication, enabling faster and easier decision-making. However, the rise of generative AI raises concerns about misinformation. While AI can create vast amounts of content, it struggles to convey genuine emotions and human touch. Whale's services extend to Starbucks in China and Southeast Asia. AI enhances the customer experience, ensuring quick coffee orders and efficient handling of online and in-store orders. Despite rapid growth, Whale faces challenges, particularly in complying with local data privacy and security regulations. The company's revenue has been soaring, with a 100% annual growth rate over the past three years and expectations to maintain this pace. Different AI models offer unique capabilities, catering to various business needs. Many companies prefer open-source models for data privacy, deploying them in their own data centers. The future of AI in hardware is promising, with applications taking the lion's share of the market. Battery life remains a challenge, but the potential for innovative AI devices, like glasses, is significant. The collaboration between former Apple designer Jony Ive and OpenAI is a notable development. While the success of such ventures is uncertain, large companies have the resources to experiment with different AI applications. The future of AI in business is bright, with endless possibilities for innovation and growth.