As we continue to present our series of articles based on the talks presented at M-AI summit which was hosted by Develandoo Innovation Lab, today we’re going to explore another interesting topic. Our next speaker at Munich AI Summit 2019 was Nadine Brehm from Microsoft. Through her talk, she explained how enterprises adopt AI and become successful players in the digitalization.
Nadine is the Data and AI Sales Leader of Financial Services at Microsft. She is driving data, analytics and ai topics at clients across all industries and is supporting them in their digital transformation.
At the beginning of her talk, she explained why it’s critical for the enterprises to adopt AI and what benefits they will get through that process.
‘’Everywhere, in every corner, we hear AI, but if we look into it, we often see that we’re not where we would like to be. I mean everybody has a good position, but it could be much more sophisticated in the future. Nevertheless, every enterprise also needs to adopt AI. On the one hand, it is necessary because of the opportunities. If you adopt AI, you’ll have completely different opportunities with your enterprise than before. On the other hand, it is also optimization. For instance, you can optimize your supply chain and save money. Finally, it is knowledge. Knowledge is also pretty important for enterprises if they are adopting AI. Let’s look into insurance companies. If they have an underwriter who worked there for 20 to 30 years and when that underwriter retires, lots of knowledge will be lost, and maybe they won’t be able to do the things exactly how that underwriter had done, because he is in pension and the knowledge is completely gone. You can adopt AI and conserve the knowledge with processes’’, said Nadine.
She stated that only a few percent of the executives said their businesses have successfully adopted AI, and we all have to ask ourselves why it is so.
‘’We have a lot of traditional enterprises with traditional processes, and if you look into the data topic, sometimes we have a problem of access to data. It’s difficult because the owners say they don’t allow anybody else to access data from their companies. Another big hurdle is often the culture of the enterprise. We have often barriers, we have competing departments, and so the culture is also often a problem. If we look into the culture, it is often the lack of skills. Everybody would like to get a data scientist but there are not enough data scientists out of which companies can hire. So we need different things. Maybe, we need intelligent tools so that we don’t need a data scientist’’, explained our speaker.
What she highlighted is the importance of having information architecture.
‘’So we say, first you need to build information architecture so that you can then adopt AI.’’
This was just a snippet from our speakers’ talk. If you want to learn more about the topic, you can visit our youtube channel where you’ll find the videos of all the Munich AI Summit talks.
We are thankful to all our sponsors (Fujitsu, Women in AI, Liquid Newsroom, Scylla and Urgestain, Wayra Germany), participants and the speakers for attending our Munich-AI Summit 2019, the one and only free event in Munich area related to AI.
As we have already announced our Meetup group ‘’Power Humanity With AI’’ is going Global & Virtual because of the unprecedented global situation caused by the outbreak of COVID-19. This means in the upcoming period, Develandoo will be organizing and running a series of webinars and virtual online sessions which will include leading professionals in the field of AI and Machine Learning.
Develandoo has also incubated three in-house startups which are leading the markets in their areas of expertise:
- Scylla – World’s leading gun detection system
- Cibola – World’s first in-store analytics system
- Protogen – Generic Tabular Data platform
For more information, please visit – https://develandoo.com