PR99074

TAIPEI, Dec. 2, 2022 /PRNewswire=KYODO JBN/ --

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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   Caption: David Huang, Founder of Jensen Capital, suggested that leaders should believe

in the economic cycle and deploy AI early.