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There are two primary goals because of which people start a business. The first goal is to create an innovative product or service that meets the market’s existing gap. Secondly, any company must make a profit. Without meeting the second goal, working on the first goal of any business is almost impossible. In an ideal world, creating a good product or service would have sufficed to run the business smoothly. However, we live in an imperfect world where many variables determine a business’s success.
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Research and development (R&D) are valuable to all enterprises, irrespective of size. In the highly competitive world, it is of utmost importance for companies to invest in R&D to bring innovative products and services. For many businesses, the ultimate goal of investing in R&D is to either create new technology or use the existing technology to create new products, business models, and services. To ensure that the R&D is meaningful for the businesses, it is essential to ensure that it aligns with the company’s mission. Here is a list of reasons for companies need to invest in R&D.
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Energy conservation is important in this age where we are facing a lot of problems in the world around us. Climate change is one of the biggest problems that humanity is facing nowadays. By conserving energy and using energy in an optimized way, we can tackle most environmental problems and prevent upcoming generations from a crisis.
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In the past two years, the digital transformation accelerated because of the pandemic and it wasn’t only a single sector that saw this change. Almost every sector including e-commerce saw this transformation. In the e-commerce industry, online retailers benefited from this transformation because their businesses saw a huge and sudden spike in online sales and they adopted tools that were powered by artificial intelligence (AI) and machine learning (ML) which helped them to cope with the sudden spike. In today’s article, we will be having a looking at how AI can help e-commerce businesses all over the world to grow and improve their operations:
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The views expressed in these business columns are the views of the authors or the interviewed persons only and therefore do not necessarily reflect the views of Indonesia Investments. The authors are free to ventilate their opinions about the Indonesian business climate. Facts presented in these columns are the result of the author's own research or indicated sources, read disclaimer.
