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Mainland China, Hong Kong companies to benefit as AI penetrates deeper into customer experience, researcher says

  • Generative AI can support innovation, content creation, product development, marketing and services, Euromonitor says
  • Research company cites Chinese travel platform Trip.com as one example of a company that has scored direct benefits from AI

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More than half of professionals interviewed by Euromonitor said their companies plan to invest in generative AI over the next five years. Photo: Shutterstock
Cheryl Arcibal
Mainland Chinese and Hong Kong companies that are quick to adopt artificial intelligence (AI) technology are likely to see a boost in revenue from honing their ability to deliver a better customer experience, according to the latest report by Euromonitor International.
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Nearly three quarters of global consumers are using AI to help in everyday tasks such as drafting correspondence, and many of them also expect companies to tap the same technology to help in their purchases, the research company said in a report released on Thursday. In China, 56.2 per cent of consumers said they used voice assistants this year while making purchases.

More than half of the professionals interviewed in the study said their companies plan to invest in generative AI over the next five years, likely giving a boost to AI companies such as ChatGPT developer OpenAI. Mainland Chinese companies have also jumped on the AI bandwagon with the likes of Alibaba Group Holding and search-engine giant Baidu launching their own AI offerings based on large language models. Alibaba owns the Post.

“Generative AI solutions support the innovation process, which could accelerate go-to-market strategies,” the report said. “Content creation and ideation can be achieved at speed for faster delivery. Businesses that leverage the capabilities of this technology can synthesise user data to guide new product development. Plus integrating customer inputs will help companies customise marketing campaigns, merchandise and services at scale.”

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How does China’s AI stack up against ChatGPT?

How does China’s AI stack up against ChatGPT?

According to Euromonitor’s global survey, companies expect AI to improve customer experience by creating more intelligent shopping suggestions based on consumer data (49 per cent), creating more targeted marketing campaigns (44 per cent), building customer-service chatbots (44 per cent), optimising product images and copy (43 per cent) and assisting with travel planning and shopping (42 per cent).

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China-based travel booking platform Trip.com is one company that has seen direct benefits from AI, thanks to its AI travel assistant, known as TripGenie. Launched in July, the personalised travel assistant has “doubled conversion rates and increased user retention through improved user engagement and overall service efficiency”, according to the report.

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