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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