We are witnessing a new genre of companies shaping the business landscape by leveraging emerging technologies and applying them with such potency to create competitive advantage.
These organisations have a quest to scale; they are big on customer experience; they are open to partnerships and are able to deploy their products and services at scale through APIs; they are big adopters of the cloud and quite often are born in the cloud; they embrace design thinking and are happy to return to first principles to find innovative solutions to business problems; and they are relentless at leveraging the power of artificial intelligence (AI) for insights and decision making.
Our focus in this publication is on the power of AI and its inherent potential to transform businesses if harnessed properly. As we study the Tech giants, we see a relentless focus on AI and its application at scale. Google’s search engine and its widely adopted google maps are powered by AI while Apple & Tencent have strong customer analytics engines with the capability to study customers and prescribe products and offerings that are personalized. Amazon and Alibaba have extended the power of AI into their supply chain and are able to reduce cost to serve while delivering packages at significantly reduced times compared to incumbents.
We offer our perspective on the starting point for harnessing the power of AI – the journey should be Use-case led and not data-led. We note that many incumbents are stuck with data quality issues, have started some data cleansing projects, are usually frustrated by the unending nature of data cleansing and rarely derive any value from this tedious initiative. There is motion but no movement. The Use-case led approach is driven by the business problem that requires a solution and defining the business problem should be technology and data agnostic.
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