Best Inc. CEO Chou on Automation, AI and M&A Plans

The video discusses the strategic importance of automation in reducing costs and improving efficiency across various business operations. It highlights a significant reduction in transportation costs due to automated routing and planning. The company plans to allocate 3-4% of its growing revenue to further automation investments, potentially increasing this percentage if efficiency gains continue. Future plans include investing in technology companies, particularly those in AI and robotics, and exploring acquisition opportunities. The company is also planning to expand its distribution networks in the US, Europe, and Southeast Asia.

What is the primary benefit mentioned for implementing automated routing in the business?

• Expansion into new markets

• Reduction in transportation costs

• Increased customer satisfaction

• Improved product quality

How much of the revenue is planned to be invested in automation annually?

• 1 to 2%

• 3 to 4%

• 5 to 6%

• 7 to 8%

What might lead to an increase in the investment in automation?

• Government incentives

• Continued efficiency improvements

• Higher labor costs

• Decreased competition

Which technology areas are being considered for investment or acquisition?

• Blockchain and cybersecurity

• Biotechnology and healthcare

• Artificial intelligence and robotics

• Virtual reality and gaming

In which regions is the company planning to expand its operations?

• Australia and New Zealand

• Middle East and Central Asia

• US, Europe, and Southeast Asia

• South America and Africa