Harnessing Artificial Intelligence at Gitex 2023

AI Takes Center Stage

This year’s Gitex Global in Dubai was characterized by an overwhelming focus on artificial intelligence (AI). Companies across various sectors are eager to leverage this technology to enhance productivity, efficiency, and prepare for the anticipated future economy. As belief in AI’s potential grows, organizations are rushing to adopt AI-driven solutions.

The Dangers of Jumping on the AI Bandwagon

However, experts warn that the surge in AI adoption has led some companies to implement AI tools without a clear understanding of their specific needs. Ahmad Abu Hantash, a partner at PwC’s digital and technology consulting division, highlighted how AI should not be integrated simply as a checkbox solution. For AI systems to be effective, they require access to high-quality data and the right technological tools.

Understanding the Core Challenges

Abu Hantash stresses that we’re still in a phase of experimentation with AI applications. Many businesses are allocating significant budgets to explore various use cases, hoping to validate their potential return on investment. Yet, he pointed out that technology alone isn’t the sole challenge; the readiness of the organization and the consumers as well as the availability of crucial data are equally important.

He emphasized, “AI won’t deliver results without the right data, frameworks, and regulatory measures around privacy and bias.” This foundational element is key to ensuring successful AI outcomes. Furthermore, the processes for gathering, analyzing, and utilizing data must be reevaluated to capture the value expected from AI implementations.

The Rise of AI Adoption

A recent McKinsey survey highlights a dramatic increase in AI integration among organizations. The number of companies utilizing at least one AI business function climbed to 78% in 2024, up from just 20% in 2017. Generative AI usage has also surged, jumping to 71% in 2023 from 33% the previous year.

Real-World Applications of AI Technology

Workday, a US-based enterprise AI platform specializing in human resource management and finance, boasts a global user base nearing 70 million. This platform facilitates over a trillion transactions annually, generating a treasure trove of clean and structured data, essential for effective AI functionality. Michael Douroux, Workday’s group vice president for the EMEA region, emphasizes the value derived from datasets that are rich and well-organized.

He noted, “We’ve observed a steady increase in AI-related applications… The key is determining whether these products can actually demonstrate measurable value.” In the midst of a dynamic technological landscape, organizations are seeking to justify their investments in AI and verify its contribution to productivity enhancements.

Strategic AI Investment Planning

Before committing significant resources to AI technologies, businesses need to formulate a well-defined strategy. Abu Hantash illustrated this point by recounting how some clients approach AI implementation with unrealistic expectations—requesting extensive numbers of AI agents without a clear rationale.

His advice? Companies should begin with smaller-scale experiments focused on specific operational areas. “Start with low-hanging fruit, such as back office functions like procurement, HR, and finance,” he suggested, as these departments typically have well-established processes ripe for optimization through AI.

Innovating Data Management with AI

Sanjay Poonen, CEO of cyber protection company Cohesity, shared insights into how AI can revolutionize data management. Many banks and insurance companies generate vast amounts of data, often trapped in unwieldy formats such as PDF files. AI can streamline the process of extracting insights from this information.

Poonen illustrated a practical example in which AI could summarize extensive vendor contracts, comparing discounts and terms over a decade. “Picture having a million interns analyzing all your documents and compiling the summaries for you—that’s the value AI provides,” he stated, indicating that this capability can lead to transformative breakthroughs in how organizations manage their data.

Future Growth and Complementary Roles of AI

As Workday prepares to expand into the Middle East with a new Dubai office, Douroux expressed optimism about the region’s growth potential. The company aims to support countries like the UAE and Saudi Arabia in their digital transformation initiatives.

It’s crucial to note that the rise of AI does not signify a replacement of human workers. Instead, Douroux sees AI as a catalyst for new job types and a means to enhance existing roles, amplifying workplace productivity rather than eliminating jobs. “We foresee an explosion of new job categories and an enhancement of existing workflows rather than displacement,” he concluded.

In conclusion, while AI continues to reshape industries, its integration demands careful planning and a focus on specific needs to fully harness its potential.