Martijn Lofvers’ Post

Supply chain directors seem to be struggling to claim their share of available artificial intelligence (AI) budgets. Despite – or perhaps because of – the current struggling economy, executives have freed up budgets for AI, especially the popular variant generative AI (GenAI), e.g. ChatGPT and Microsoft Copilot. According to a recent global survey by Tata Consultancy Services, 51% of Dutch chief executive officers (CEOs) are looking to artificial intelligence for innovation and revenue growth; in Europe, the figure is as high as 66%. Analyst firm Gartner reported early this year that half of supply chain leaders plan to implement GenAI in the next 12 months. So I guess the wish is the father of the thought. From my many conversations with supply chain executives, I know that they are still eagerly searching for a good application for GenAI. In fact, according to Gartner, 14% are already in an implementation phase, although I have my doubts about this. Our own recent research among 60 Dutch supply chain directors shows that ‘business transformation and digitization’ is near the top of the board’s priority list at 55%, just after ‘operational excellence and cost savings’ at 57%. The question is, however, how companies should negotiate this intended mountain of digitalization. Read the answer to this question here: https://lnkd.in/eJebTnc5 #ai #digitalization #supplychain #transformation #chatgpt Sikko Zoer Marcel Van Rossum Carlos Cordon Tariq Farooq Eric Baudier Zarko Stevic Supply Chain Companions

Alexander Sukharevsky of QuantumBlack, AI by McKinsey , a McKinsey & Company-owned AI firm, recently shared insights into the potential impact of generative AI on the workforce. Speaking at the Fortune Global Forum, he emphasized AI's transformative role, likening its impact to a "platform shift" akin to the internet's influence on distribution. The rapid advancement in AI, including technologies like OpenAI’s ChatGPT, has raised concerns about mass job displacement. The fear is that AI automation could exacerbate the wealth gap while boosting corporate profits. The causes of concern are: - Sukharevsky notes that 70% of current tasks could be automated. -The swift development and adoption of AI technologies could rapidly alter job markets. - The integration of AI could lead to significant shifts in labor demand and economic structures. Alexander Sukharevsky argues that AI should be seen as a tool to augment human work rather than replace it. He suggests that AI can eliminate mundane tasks, allowing human creativity and talent to flourish. By understanding the role-by-role impact, leaders can better integrate AI into their workforce. The AI revolution, spearheaded by advancements in generative AI, presents both challenges and opportunities for the workforce. While there is potential for automation to displace certain jobs, Sukharevsky's perspective offers a more optimistic view, where AI augments human capabilities, fosters creativity, and leads to a more efficient and inspired workforce. #AIAutomation #FutureOfWork #GenerativeAI #WorkforceTransformation #AIandCreativity

I asked ChatGPT to give me, as a business leader, the best articles and reports to gain a better understanding of Artificial Intelligence. Here are the results [I added some of my own research]: Certainly! There are many reports and articles tailored for a non-technical audience that provide valuable insights into artificial intelligence. Here are some recommendations: 1.    McKinsey - https://lnkd.in/d2DkBttN https://lnkd.in/d9UZahkW McKinsey provide comprehensive overviews of the potential impact of AI on the global economy, exploring use cases, challenges, and the economic implications. 2.    PwC - "Sizing the Prize: What’s the real value of AI for your business and how can you capitalise?" https://lnkd.in/d_sMRACM PwC's report delves into the economic potential of AI and offers insights into how businesses can capitalize on the opportunities presented by this technology. 3.    Accenture - "ChatGPT has woken up the world to the transformative potential of artificial intelligence (AI), capturing global attention and sparking a wave of creativity" https://lnkd.in/dJse2-uP 4.    Harvard Business Review - "The Business of Artificial Intelligence" https://lnkd.in/d_Bz6e-P Written by leaders in the field, this Harvard Business Review article provides an accessible overview of the business implications of AI, including its potential and challenges. 5.    Deloitte - "State of AI in the Enterprise" https://lnkd.in/dtUKVDvN Deloitte's report discusses the current state of AI adoption in enterprises, highlighting key trends and offering insights for business leaders. 6.    MIT Sloan Management Review - https://lnkd.in/dS9BvtTK https://lnkd.in/d5j8iVnA https://lnkd.in/d5k9wzar 7.    Cap Gemini - https://lnkd.in/dyKSivnH 8.    The Economist - Generative AI holds much promise for businesses Just don’t expect its overnight adoption https://lnkd.in/dxwWR5c2 9. Financial Times - Will AI Transform business? https://lnkd.in/d99MhYYD 10. Forbes - The impact of AI on Leadership https://lnkd.in/d_4TAAUa

AI Hype is Real: Not just for the big businesses. Artificial Intelligence isn't just for the big players anymore. Small businesses are diving into AI, with 82% expecting industry disruption in the next 5 years. From data analytics to customer service automation, AI is transforming how SMBs operate, making them more efficient and competitive. The future is here, and it's powered by AI. According to the article from Clutch.co , a survey of 529 small business leaders in the United States found that 82% expect artificial intelligence (AI) to disrupt their industry within the next 5 years. The survey revealed that small businesses are embracing AI, with 26% already using AI and another 21% planning to implement it soon. The most common AI applications used by small businesses include data analytics (48%), process automation (35%), and customer service automation (27%). However, the survey also highlighted concerns among small business leaders, with 58% worried about the cost of implementing AI and 51% concerned about a lack of training for employees. Despite these challenges, the majority of small business leaders (63%) believe that AI will have a positive impact on their business in the long run. https://lnkd.in/g8mRkPDJ #HBR #Harvardbusinessreview #GoldmanSachs #clutch #AI #ChatGPT #Claude #SmallBusiness https://lnkd.in/gyPCDV8Q https://lnkd.in/g2exBeSW  https://lnkd.in/gty7AruX https://lnkd.in/grQhS8jP

🧠 Are you ready for the AI cognitive revolution? From replacing tasks to reshaping entire industries, AI is poised to revolutionize the way we work and live. Wall Street Journal writer Christopher Mims delves into the transformative power of AI in his latest article trying to understand its potential impact on the 100 million knowledge workers in the US, as well as the additional 900 million worldwide. It seems that today's AI typically automates specific tasks rather than entire jobs. While some roles primarily consist of automatable tasks like customer service, content marketing, and e-commerce product listing, human oversight is still necessary to coordinate AI usage and engage in abstract thinking, a domain exclusive to humans for now. Consequently, while AI won't eliminate jobs outright, it may lead to job displacement as companies prioritize automation to streamline operations. However, a significant concern is that AI and automation are frequently employed by companies to reduce headcounts rather than enhance existing employees' productivity, partly because machines are simpler to manage than human workers. ⚙️👩💼 How do you think AI will affect your industry or profession? Let me know in the comments! #AI #FutureOfWork #Automation #ArtificialIntelligence #FutureOfWork #InternetOfThings #Leadership #PersonalDevelopment

The most insightful point in this article is “Ioannis Ioannou, professor of business strategy and entrepreneurship at London Business School, puts (MBA students) through their paces by asking them to evaluate and improve plans produced using AI.” What does this mean? No one needs to start with a blank sheet of paper, for any task, ever again. And that applies even more so, and has even more impact, in the business and consultancy worlds. Most smaller consultancies are probably hedging their bets or waiting on the sidelines (not us obviously, we’re building our own genAI tool like the big boys). But in the medium term, like it or not, genAI will redefine the consulting landscape. #genai #consultancy #transformation

How is your company integrating #AI into its work? Operationalizing the push for #generativeAI at the enterprise level takes time and a strong implementation strategy and it can certainly cause headaches for IT teams. https://hubs.ly/Q02m_bVK0

The use of AI can improve worker productivity in specific scenarios, such as customer support centers, where AI bots can increase output per hour by an average of 14%. However, the open question is to what extent and how fast this will scale to an economy-wide boost in the ability of companies to produce more goods and services relative to the work put in. AI-based tools could pay dividends not just in making existing work more efficient, but in making companies better able to identify productivity-enhancing strategies. If AI increases the productivity of all cognitive work by 30%, and cognitive work accounts for 60% of all labor, an 18% gain in overall productivity over time could be achieved. Despite this, new technologies do not pay productivity dividends overnight, as it takes time for companies to make effective use of them. If the gain were to take place over 10 years, it would imply an extra 1.7 percentage points of productivity growth a year, which could translate into commensurately higher GDP growth and rising incomes. Nonetheless, there would be winners and losers in this scenario, as some jobs are eliminated and others become more productive and thus more lucrative. Are you in? #inteligenciaartificial #manufacturingtechnology #highereducationresearch

For the discerning C-suite executive, it has been practically impossible to escape the AI conversation in recent months. There remains little to no doubt that artificial intelligence is set to play a pivotal role in the way companies are run in the months and years ahead, with the only question concerning just how quickly it can be integrated into everyday business practices. Clearly, the intent from leaders is there. A recent study carried out by Accenture found almost three-quarters (73%) of global companies are prioritising AI over all other digital investments, with an immediate focus on improving operational resilience in an unprecedented environment. What’s more, IBM research has shown a similar proportion of CEOs believe gaining competitive advantage in future will depend on who has the most advanced AI capabilities. However, almost three in five (59%) US workers say the pace at which their employers are adopting new digital tools is not fast enough, according to a report from EY, raising questions over the urgency being shown by most businesses. Here, Kelly Manthey, Global CEO of Kin + Carta, and Jonathan Rosenberg, CTO and Head of AI at Five9, discuss how AI is changing the face of business. #AI #GenerativeAI #DigitalTransformation

What do the French Revolution and the state of AI in 2023 have in common? The true power for change lies with the workers. It's the employees who wield the potential of AI to enhance their productivity, rather than the corporations they work for. They're embracing tools like ChatGPT to compose emails and Code Interpreter to generate graphs, all while keeping it mostly under wraps from their superiors. (🥸 Ps. If you haven't already started utilising AI in your workplace, consider exploring AI discovery workshop that our team at Untrite can run for you). However, implementing AI on an enterprise level is no easy feat. Many businesses struggle with disorganised data and siloed information, which makes AI prone to errors – a problematic combination! JP Morgan* predicts that enterprises will invest significant time over the next few years to organise their databases effectively, enabling AI to genuinely offer its benefits. In the meantime, the big winners are the consultants, becoming the go-to solution for major companies without a clear AI strategy. In fact, Accenture has already amassed a staggering $100 million from AI projects in just four months🤯. More on JP Morgan findings - link in the comments. #ai #artificialintelligence #decisionintelligence #innovation #digitaltransformation #datatransformation