Artificial intelligence’s time is now, and, in tandem with humans, it can deliver real value to businesses, as Sanjib Sahoo, EVP and CDO at Ingram Micro, explains.
Imagine a world where artificial intelligence (AI) isn’t just a buzzword, but a building block for creating greater business value. What’s more, what if we reimagined AI as agile intelligence, empowering our teams to embrace the spirt of digitisation with enthusiasm and greater expertise. In this world, businesses and consumers would be cheering for AI instead of fearing it or forcing the acronym into their marketing to stay on trend.
With a fresh, new outlook on how to approach and integrate AI, teams could use the advancing technology not only to gain a competitive edge but also unlock a future of possibilities and new experiences where agility, efficiency and strategic insights become signatures of their success. So, as you look ahead to building your AI strategy remember:
The time is now
It’s essential to understand that AI isn’t a recent innovation. The term itself was coined back in 1956. While it’s true that the optimal moment to embrace AI might have been in the past, the next best opportunity is now. Innovation cycles are happening at an impressive clip:
• 1964: MIT had already achieved a significant milestone by creating the first chatbot
• 1997: IBM’s Watson made headlines by triumphing over human champions on Jeopardy
• 1999: Sony introduced aibo, a robotic companion designed to evolve its personality and abilities based on its interactions and environment
• 2011: “Hey Siri” marked the integration of AI assistants into daily life
• 2022: ChatGPT became available for public use and just two months after launching is estimated to have reached 100 million monthly active users.
Today’s AI has evolved from natural language processing and speech and image recognition to machine learning, neural networks and deep learning. And it continues to develop with the emergence of generative AI. Yet the evolution of AI is not happening in a silo. It’s happening with the assist and oversight of humans.
For AI to work humans and machines must work together
AI’s impact is widespread and working fast across a variety of industries. But AI does not work alone. It pulls from multiple inputs and mirrors human intelligence. It relies on human input and design for optimal functionality. Generative AI (Gen AI) mirrors the cognitive processes of the human brain, generating new data and valuable content at a scale and pace surpassing human capabilities.
As such, businesses must approach AI with humans top of mind – recognising that humans are not being replaced by robots at scale. Yes, the jobs we do will be different. But what’s really important is to know that when it comes to AI, our mindset will drive our future skillsets and abilities. We must continue to move forward together. Getting better and stronger every day, using AI to build advantages for us and for those we serve.
Where data goes AI follows
We can’t talk about AI without talking about data – clean, accurate, meaningful data. The effectiveness of AI’s output and results is intricately tied to the quality of the information it derives from various data points. So, businesses intent on deploying a successful AI strategy must make the quality and scope of their data lake the highest priority.
The AI opportunity is real and scaling
AI presents huge opportunities. According to McKinsey1, venture capital investment in AI has grown by a factor of 13 over the past 10 years. Further, analyst firms such as Constellation Research2 are saying businesses that adopt Gen AI early will see exponential growth and more meaningful customer experiences. The key is to use AI to create value at scale and to identify use-cases that are relevant for industries. An example shared recently was a leading apparel retailer that is leveraging AI to automate responses to 65% of its customer inquiries, freeing skilled CSRs to handle higher-value interactions.
Another example is the use of AI by distributors, including Ingram Micro. The use case ranges from speeding new customer and vendor onboarding and optimising their supply chain to managing discounts and rebates and improving marketing programs. One high-value use of AI by distributors is supporting push portals that learn from the data they take in to improve the recommendations provided and to offer better solutions to their customers. Together, working in concert with technology, distribution will continue to solve big challenges, drive new opportunities, spur new innovations and create exciting new experiences.
Make the case for AI clear
Is the use of AI helping? Yes. Studies show integrating AI leads to larger deals and more substantial outcomes. According to 6sense3, utilising AI doubles deal sizes and generates thousands of dollars in additional revenue for each opportunity pursued. Furthermore, AI implementation has demonstrated a remarkable 91.3% increase in deal velocity. As you start integrating AI into the mix, take measure of the time spent, saved and shared with others thinking forward about your businesses success and what’s driving decisions and innovations.
The future is agile
With the ongoing evolution of AI, forward-thinking businesses are directing their attention towards leveraging AI to generate and seize value on a large scale. We have moved beyond using AI simply for automation and are finding exciting new ways to use it to improve experiences for all of a business’s constituents.
AI was then, is now and it will continue to be what is next. The real impact, the power, will be in the way humans innovate around AI.
Sanjib Sahoo is an award-winning global technology and business executive and the EVP, global technology and chief digital officer of Ingram Micro, a worldwide leader in technology distribution and the company behind today’s established and emerging technology brands.
Sanjib has been involved in leading digital transformation in two different industries: financial services and transportation. He has won dozens of awards for his leadership, humanity and technology innovation including the prestigious 2023 Bharat Samman Award at the House of Lords for being a global technology and business icon, as well as being named to Fortune India’s 2023 “Unstoppables,” where Sanjib was named one of the World’s Most Influential Personalities and Business Minds.
Sanjib joined Ingram Micro in 2021. He leads the global technology strategy and digitisation of Ingram Micro, which includes the company’s digital twin, Ingram Micro Xvantage™. He has responsibilities for global technology, digital platforms and digital operations, as well as the company’s product, data, engineering and digital marketing groups.
