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Innovator Founder and Editor-in-Chief Jennifer L. Schenker
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IBM, Google and Stability AI are gearing up to offer generative AI services to enterprise customers such as Deutsche Bank, Wendy’s, NASA and Koch Industries. Many corporates have spent the past few months grappling with how and where they can leverage the new capabilities of generative AI and large language models, or LLMs. The worry is that generative AI, like the iPhone, has the potential to disrupt entire industries. The dawn of online streaming spelled the end of home-video-rental companies such as Blockbuster, while cameras on phones helped render photo processing obsolete and helped spark Apple’s rise and Kodak’s decline. Artificial intelligence is “almost certainly over-hyped in its initial implementation,” Michael Green, chief strategist at Simplify Asset Management told The Wall Street Journal. “But the longer-term ramifications are probably greater than we can imagine.” Fear of missing out is prompting more and more corporates to embrace the technology. One of the companies deepening its work with Google while still relying on Microsoft for productivity tools is Deutsche Bank. Bernd Leukert, its chief technology, data and innovation officer, told Reuters the bank is targeting a range of tasks to automate with the help of Google’s engineers and its large language models. Read on to learn more about this story and the week's most important technology stories impacting business. |
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| For several years, we’ve seen businesses adopt AI to improve productivity and enhance communications with customers. There are already large implementations of AI across the customer service sector with the use of thousands of AI-powered agents. What is different now is that AI technology has crossed the chasm, writes Former Cisco Executive Chairman John Chambers in his 28th exclusive column for The Innovator. Everybody sees how AI developments can disrupt even the biggest tech companies – and if AI can do that, it has the power to also disrupt the biggest financial companies, the biggest automotive companies, etc, writes Chambers So, whether you started on this program six years ago, as three of his startups did, or you have recently realized the importance of doing so, know this says Chambers:: AI is here to stay, and a pause is not an option. Paying subscribers can access the complete column. |
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Who: Oliver Birk has been leading the platform business within the BASF Automotive Refinish Coatings division since 2020. The division includes the digital platforms UBench in Belgium, which was acquired by BASF in 2019 and RepairFix in Germany, a corporate spin-off launched in 2020. These platforms serve fleet, leasing, and insurance companies, helping them to stay connected with their vehicle drivers along the driver journey and coordinating all relevant processes with other service providers like maintenance and repair shops, towing services, or rental car companies in a digital collaborative ecosystem. He is a scheduled speaker at The NWTK Summit 23 in Barcelona May 18-19,
Topic: How BASF Coatings built and is benefiting from platform business models.
Quote: "Our two platforms help us to further develop a holistic view on the automotive aftermarket, connect digitally with influential stakeholders along the value chain, and build partnerships with them based on shared purpose in a way that is beneficial to all who participate."
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Zaptic has developed a connected worker platform that offers frontline staff job training, collaboration tools, and a no-code toolkit to accelerate the digital transformation of industrial companies’ everyday operations. The UK startup’s customers include Carlsberg, Danone, Hovis, and Berry Global.
“We have created a solution that aims to close the skills gap for 700 million industrial workers”, says Richard Milnes, Zaptic’s Co-Founder and Chief Executive Officer.
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| Percentage of executives surveyed by audit and consulting firm KPMG who said they believe generative AI will have a big impact on their organization in the next three to five years. Some 77% said it would have a larger impact on society than any other emerging technology during that time but 60% said they are a year or two away from implementing their first generative AI solution due to barriers like talent, cost and data privacy. |
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