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Contributor: PR Newswire Asia (Hong Kong)
Friday, December 02 2022 - 14:01
AsiaNet
Corporate Sustainability in the Headwinds - Turn Crisis into Opportunity, Strengthen Domain Knowledge, and Learn from AI Data
TAIPEI, Dec. 2, 2022 /PRNewswire-AsiaNet/ --

With alarms sounding about a global recession, the upcoming challenges will 
test the resilience of enterprises and the wisdom of the structure of the 
future market. David Huang, Founder of Jensen Capital, together with many 
industry and academic experts from School of Interdisciplinary Design of  Feng 
Chia University, AUO, Gogoro, Cheng Hsin Rubber, and Taiwan AI Academy, advised 
companies to value the power of AI data and tools, strengthen industry domain 
knowledge, and cooperate cross-organizationally. The experts noted that 
business leaders should make the right decisions, enter the market in crisis, 
and deploy in advance so they can become winners when the economy recovers.

As the world is counting down to 2023, major international institutions are 
forecasting the global economy next year to be bleak. The International 
Monetary Fund (IMF) even points out that economic growth in 2023 may continue 
to be revised down to below 1%. Recently, the Taiwan Institute of Economics 
revised Taiwan's economic growth rate in 2023 down to 2.91%. Facing global 
headwinds, business leaders are eager to find strategies to break out. Profet 
AI (https://www.profetai.com/?lang=en), the leading provider of AI platforms 
for the manufacturing industry, recently held a forum in Taichung, "Crossover 
Talks: AI & Economic Cycles." The event invited Founder of Jensen Capital David 
Huang, Dean of School of Interdisciplinary Design of Feng Chia University Peter 
J. Sher, Executive Vice President of AUO Digitech Shinmin Chao, Manufacturing 
Director of Gogoro Taiwan Limited Charlie Huang, Information Center Manager of 
Cheng Shin Rubber Justin Chen, and Director of Industry Development of Taiwan 
AI Academy Benjamin Kuo to share their experiences with all attendees and 
brainstorm ideas for beneficial solutions.

Believing in the economic cycle and cultivating excellent leader perspectives: 
see the crisis as an opportunity

David Huang said that a quarter of a century after the last financial tsunami, 
another wave of recession will be coming. Corporate leaders should trust the 
economic cycle, and a market downturn is the best time for companies to improve 
their personnel, machines, raw materials, methods, and environmental quality. 
David Huang shared his experience of leading the Yageo Corporation through the 
financial tsunami in 2008. He took the inverse action during the downturn, 
investing boldly in equipment procurement at lower prices and mobilizing 
manpower so that he was able to quickly obtain business opportunities when the 
economy recovered and achieved success.

According to David Huang, AI applications are one of the best choices for 
investment during the current downturn. Good leaders must see the big picture, 
and to do that, they must rely on trustworthy intelligence. He suggested that 
leaders must adopt the right attitude when deploying AI and use AI combined 
with data and domain knowledge to produce intelligence information. These 
actions, he said, will ensure sustainable business operation through AI 
applications.

David Huang, Founder of Jensen Capital, suggested that leaders should believe 
in the economic cycle and deploy AI early.

Strengthening domain knowledge through AI tools that support the lifeline of 
enterprises

Sher of Feng Chia University also discussed his observations on the deployment 
of AI, highlighting AUO and enterprises mentored by the School of 
Interdisciplinary Design. He pointed out that AI is not a glamorous term. He 
noted that enterprises should not expect AI to be deployed with a single 
action, but deployment actually involves detailed workflow and requires 
cross-departmental and cross-disciplinary communication and coordination to 
effectively integrate resources.

Chao of AUO Digitech said that AUO personnel's high awareness of AI and process 
improvement has helped the company become a model student of AI applications. 
AUO has assigned more than 1,000 personnel to related training over 5 years. AI 
has long been in AUO's DNA, and only in this way can it successfully reduce 
labor costs, increase output, and elevate productivity by 30%.

The panelists discussed that, although using computing and algorithms will help 
leaders to successfully deploy AI, the key to victory is actually domain 
knowledge. Charlie Huang of Gogoro shared his professional manufacturing 
experience across machinery, aerospace engineering, and semiconductor 
industries, emphasizing that companies must focus on profunding domain 
knowledge while professional partners are best able to deploy tools and 
applications. Kuo of Taiwan AI Academy also mentioned that, in the current 
geopolitical situation, everyone's role is interchangeable, so the only way for 
companies to remain invincible is to continuously improve their domain 
profession.

Using AI data as a teacher

Under the current trend of second-generation succession, smoothly taking over 
and breaking new ground are essential topics for many new-generation 
successors. Chen of Cheng Shin Rubber added that a common problem his company 
encountered was convincing the previous  business owners to deploy new 
technology and methods to improve business efficiency. He said that, for 
traditional industries, more than 95% of companies don't understand AI, and 
they don't know how many resources to invest in it or how to start. Under 
Chen's leadership, Cheng Shin Rubber quickly deployed Profet AI platforms, 
effectively improving the yield rate,  reducing test time and quantity 
scrapped, and decreasing development costs at the same time. With fast and 
sensible actual data as evidence, second-generation successors can win the 
trust of first-generation leaders.

David Huang indicated that first-generation leaders rely on time and money to 
accumulate experience, while second-generation top managers focus on respect 
and using the power of data to run sustainable businesses. Kuo suggested 
companies should treat data as a daily routine to realize digital optimization 
and strengthen competitiveness with AI.

Crossover Talks: AI & the Economic Cycle Series Event to be held in Kaohsiung

Profet AI CEO Jerry Huang expressed that Profet AI has focused on the 
manufacturing industry for a long time and, thus, understands the pain points 
of customers that are facing the current international situation and market 
challenges and are trying to figure out how to implement AI applications. This 
year, Profet AI started hosting "Crossover Talks: AI & the Economic Cycle," a 
series of forums, hoping to find solutions by brainstorming with industry and 
academic experts and enterprises. The next forum will be held in Kaohsiung on 
December 8, and Profet AI welcomes corporate friends to join!

Source: Profet AI

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   Link: http://asianetnews.net/view-attachment?attach-id=435359

   Caption: David Huang, Founder of Jensen Capital, suggested that leaders 
should believe in the economic cycle and deploy AI early.

Translations

Japanese