HKTDC updates supply sourcing platform to include new technology.
The Hong Kong Trade Development Council (HKTDC) has upgraded its hktdc.com sourcing platform to include artificial intelligence and machine learning.
The changes come as a response to the acceleration digital transformation of global supply chains and the issues that it has caused for Hong Kong businesses, by HKTDC.
Benjamin Chau, deputy executive director at HKTDC said, users will notice a refreshed design as well as new features that deliver a better, more personalised smart-sourcing experience anytime and anywhere.
“We have also employed new technologies such as artificial intelligence (AI) and machine learning to increase the efficiency through which we connect buyers with suppliers and improve the overall user experience,” he said.
According to Chau, HKTDC will continue to enhance its online services to help Hong Kong businesses capture opportunities. He believes physical and online exhibitions should integrate and complement each other.
“Even when physical exhibitions resume, the HKTDC will continue to organise regular thematic online sourcing events to cater to the different sourcing cycles of various sectors, providing exhibitors with additional opportunities to connect with global buyers,” Chau explained.
“Fully utilising the advantages of online-to-offline promotion, we will carry out digital promotions and business-matching activities before and after the trade fairs, allowing exhibitors to reach out to overseas buyers who are not able to come to Hong Kong and helping to create an extended exhibition experience.”
Chau noted hktdc.com Sourcing is platform that allows local businesses to customise online store pages and upload rich content, videos, and images.
The platform employs image recognition technology to swiftly provide keyword suggestions for relevant products, enabling target buyers to find the right products more easily.
Suppliers can also examine page-performance data from the dashboard at any time, helping to improve supply chain management and making it easier to assess marketing effectiveness. The new platform records buyers’ preferences and recommends relevant new products to them.
“The new supplier authentication system classifies companies on the platform into Gold, Silver and Bronze categories based on reputation and activeness. A record of companies’ participation at HKTDC events and their last update time are also provided, serving as a reference for buyers as they seek out the most suitable suppliers,” Chau said. “The Third-party Authentication Service, meanwhile, allows suppliers to highlight their credibility and product quality to strengthen buyer confidence.”
HKTDC will also launch the Digital Academy to provide SMEs with comprehensive free-of-charge assistance and training in the area of digital marketing,” Mr Chau continued.
These courses, conducted by digital marketing experts, explore a variety of topics including search-engine optimisation (SEO), search-engine marketing (SEM), social-media content marketing, product photography, filming, copywriting techniques, and e-commerce business strategies. For example, award-winning film director Oliver Chan will share some of the secrets behind creating video content for digital platforms.