Business Co-Pilot was developed during the first Czech-Taiwanese Ideathon, Dumplings Hack 1.0.1, held on the occasion of the Czech trade delegation to Taiwan in March 2023.
The organizers, the Czech-Taiwanese Business Chamber and Startup Kitchen, aimed at bringing Taiwanese and Czech innovators and trailblazers together to tackle pressing global issues.
Titled 'the most innovative dumpling of 2023,' Business Co-Pilot is an innovative solution designed by a Czech-Taiwanese team to help startups and enterprises enter foreign markets through an advanced language model-, product-, and client data analysis. In the first phase, the project focuses on Czech-Taiwanese exports and imports. In later stages, Business Co-Pilot will be extended to other global markets.
Entering foreign markets can be a challenging and lengthy process requiring significant effort, time, and knowledge of the local market. By utilizing advanced language models and data analytics, Business Co-Pilot identifies and prioritizes potential clients and competitors in foreign markets. Business Co-Pilot also enables strategic analysis of the product and its capabilities in a given export market. This feature simplifies and slims down the market entry process. The output is customer identification, prioritizing possible outreach, and reasons why the client might be interested in the product.
"Business Co-Pilot won the Ideathon since the project combined an intriguing concept, an international team of Taiwanese and Czech innovators, and a memorable final project presentation. The resulting service could be highly useful when exploring new markets, offering a better understanding of the competition, finding new partners, and much more. As of now, the project is being developed for the Taiwanese market but could be extended to other markets in the future. A working prototype would save us a lot of time and effort we could put into B2B matchmaking instead. By identifying potential partners and competitors, as well as conducting market research, Business Co-Pilot would save us hours of work," summarized Alice Rezková, Executive Director of the Czech-Taiwanese Business Chamber.
"Connecting two worlds and compiling ideas between the Czech Republic and Taiwan is intriguing on its own. I was excited about the project because just a few hours after landing in Taipei, several people from the Czech Republic and Taiwan, who had never met before, put together a meaningful project. It's a useful way to use artificial intelligence properly. We continue working on the project and look forward to the follow-up," adds Pavel Diviš, Chairman of the Czech-Taiwanese Business Chamber and Director of the engineering company TGS.
Václav Soukup, a member of the winning team added: "At the moment, the basis of the project is ready. A part of the current Business Co-Pilot's team belongs to the original Ideathon creative team. Our goal is to verify the business interest in the product and prepare the backend, which will deliver more relevant and accurate market information. We are currently in talks with a Taiwanese telemarketing company for a possible collaboration, which will allow us to further expand our services and reach. We plan to establish cooperation with organizations that mediate export contacts."
Regarding the plan, Soukup notes, "We plan to validate the business interest in the product, refine the AI model and gradually expand our services to other markets and industries while continuing to develop and refine our technology and solutions. We value the cooperation with the Czech-Taiwanese Business Chamber. Their professionalism and know-how allowed us to connect with colleagues in Taiwan and explore new opportunities. By applying Business Co-Pilot, CTBC can also further aid exporters to Taiwan, which makes them a great partner to work with."
Among the key benefits of Business Co-Pilot belong ease of entry into foreign markets, identification and prioritization of potential clients, competitors, and strategic product analysis for the market. By utilizing advanced language models and data analysis, Business Co-Pilot also reduces the time and effort required for market research and enables the customization of services for different markets and industries. The first version of the project is available at: http://businesscopilot.net/.