Subscribe to our Telegram channel to get a daily dose of business and lifestyle news from NHA – News Hub Asia!
AI may also be a useful tool for young individuals interested in starting their own businesses, entrepreneurship. Artificial intelligence-powered analytics tools can assist young entrepreneurs in identifying trends and possibilities in their industry. Furthermore, AI-powered chatbots and virtual assistants may assist in automating many elements of corporate operations, such as customer support and sales.
Jan Wong, Forbes 30 Under 30 Asia Founder of OpenMinds Resources, says, : ”One thing people overlook today is that AI is merely a tool. Like our cars, smart devices, the internet and apps that we take as “normal” were once thought to take over and eliminate jobs – but did that happen? No. As manual labor and jobs become automated, these tools reinvented and introduced new jobs that has pushed the economy forward.
In China, instant noodle street carts have become a popular trend, particularly among young entrepreneurs who are harnessing AI technology to transform this inexpensive and quick food item into a viable commercial enterprise. These young business owners sell conventional food with a hint of toppings while simultaneously running live streams and post videos on social medias daily are making back their initial investment in only two weeks thanks to AI.
The notion of quick noodle street vendors is straightforward, yet effective. On a busy street corner, a group of young businesspeople set up a tiny food cart selling instant noodles with a choice of toppings and sauces. Because of the inexpensive nature of the noodles, they can provide their product at a low price point, earning from the additional toppings drawing a huge client base.
The actual key to their success, though, is their utilisation of AI technology. Young entrepreneurs may optimise their business activities and enhance profitability by utilising AI-powered analytics solutions. They may, for example, utilise AI to determine the most hectic times of day and alter their personnel and inventory levels appropriately. Chatbots and artificially intelligent assistants powered by AI may also help automate customer support and processing orders, allowing businesses to serve more consumers with fewer employees.
Furthermore, AI technology may assist young entrepreneurs with marketing ideas. AI-powered solutions can detect which goods are most desirable and which consumers are inclined to return by analysing customer data. This data may be utilised to construct targeted marketing strategies that reach the correct people.
The true story of young entrepreneurs in China who earns more than 20,000 RMB every month by selling instant noodles on sidewalks demonstrates the power of invention and technology. They have been able to simplify their operations, decrease expenses, and attract more consumers with the help of leveraging AI. This success story indicates that by combining innovation and technological advances, young individuals may achieve considerable financial success in an ever-changing corporate market. Robert Kabus, Chief Strategy Officer of Dataxet Singapore, agreed upon this and shared : “AI puts the younger generations more firmly in control of their own destiny. When you put history’s most transformational technology into the hands of the most transformational population, about all you can predict is big changes ahead.” This emphasises the possibility for AI to disrupt existing businesses and empower entrepreneurs to capitalise on new possibilities. As the world continues to adopt AI and other cutting-edge technology, we may expect to see more young individuals grabbing the possibilities of AI, such as these street noodle vendors.
