Since 2003, on May 17th, we celebrate Internet Day, originally commemorating World Telecommunication and Information Society Day. This anniversary was established in honor of the signing of the first International Telegraph Convention and the creation of the International Telecommunication Union in 1865.
 

Today, Internet Day has become a significant occasion to assess advancements in information and communication technologies (ICT), as well as the internet and its impact on socioeconomic and cultural development.

As you may already know, one of the most notable advancements in the past year has been the democratization of language models developed with Artificial Intelligence (AI). This has allowed anyone with internet access to directly interact with these types of intelligences that have been among us for several years.
 

Clear examples are virtual assistants, recommendation systems on streaming platforms, online translators, and speech recognition systems.

To put this into perspective, Instagram, one of the most popular online platforms, took approximately 2.5 months to reach the same figure. This growth is not only due to increased internet access but also to the hyperconnectivity characterizing our current society, which spends an  average of 6 hours and 37 minutes online worldwide.

At this moment, the tech industry is in a race to have the best AI language model since they know that while Chat GPT was the first to popularize, they can still become the favorites over time. In the competition, we have Google BERT, ChatSonic, Bloom, and many other AIs that respond to niche needs.

But can you use Artificial Intelligence, together with Odoo, for risk management in your company? Is it possible to leverage AI along with Odoo to protect yourself from financial losses?

The combination of these two powerful tools (AI and Odoo) can give you a significant advantage in identifying trends and risks and providing practical recommendations based on your historical and real-time information. We have already shown you how you can use them to obtain an external opinion that allows you to recognize possible scenarios.

What information will you need?
 

Access the sales module and obtain reports on Sales, Sales Volumes, Prices, Customers, and Suppliers. Then, in the Accounting module, retrieve reports on Income, Expenses, Cash Flows, and Profit Margins.

The most suitable prompt to achieve demand prediction, future cash flows, and risks associated with business decisions will depend on the specific configuration and customization of your Odoo system, as well as the nature and complexity of your business. However, as an example, you could use the following prompt:

Another way to leverage this tool in conjunction with your Odoo instance is to protect yourself from financial losses, and we already provide an example of how to do it. 

Which apps will you need? 

What information will you require?

From your Accounting app, retrieve reports on Bank Statements and Accounting Records. From your Invoicing module, obtain reports on Supplier Invoices, Customer Invoices, and Expense Reports. 

With that information, the most suitable prompt to obtain strategies for protecting yourself from financial losses could be the following:

These are just a couple of examples of the potential you have with this increasingly popular technology. However, keep in mind that although language models in conjunction with the reports provided by Odoo can provide clearer insights, the mentioned AIs are still in development, and you should not take them as the final word for decision-making but rather as an external opinion to assist you in decision-making.

On Internet Day, take advantage of the available technological tools to boost your business success, experiment with different prompts, and make the most of all your historical information.