Changer of the game – It’s a Tom Butler sentence from Lenovo says he finds himself using a lot these days when he talks about artificial intelligence.
And do not be mistaken: AI changes the game. It helps doctors to detect fatal infections more quickly, which gives them a critical step to save lives. This provides banking access to people in developing countries who have never had it before. More importantly, says Tom – Vice -president of the World Commercial Portfolio and Product Management at Lenovo – is a tool that any business, large or small, can use to develop.
“What we already see of companies implementing AI is that they use it to draw information from their data – and that data stimulate growth,” explains Tom. “They are now growing – not in the future, but right now.”
Tom was one of the many IA experts who spoke at the annual Guilford company summit, where around 75 business leaders from all over the triad gathered to explore how AI can also benefit their companies.
The key, says Tom, lies in the data. “The data is the new gold in the AI era,” he explains. “Your data – and what you do with it, how you capture, control, use it and refine it – will determine your success with AI. We see customers transforming how they think about data – not only secure and protect it, but really shooting it. ”
However, notes Tom, the largest barrier preventing companies from adopting AI is where to start. Only 17% of business owners feel authorized to develop AI solutions, and only 33% can demonstrate a return on investment.
“We are in the AI era, but we are just beginning,” he says. “And like everything in technology, he advances faster than you think.”
The Guilford Business Summit brings together some of the most brilliant commercial minds in the country to share their ideas with the triad community. The former speakers included Tom Barkin, president and chief executive officer of the Federal Reserve Bank of Richmond; Dhruv Agarwal, vice-president of sustainability, innovation and development at Kontoor Brands, based in Greensboro (the parent company of Wrangler and Lee); Dale Folwell, treasurer of the state of North Carolina; and Hope Williams, President of independent colleges and universities of NC.
The business summit was made possible by presenting the sponsor Truliant Federal Credit Union, the sponsor of Leadership Nasdaq, and Fred ’77 and Barbara Taylor.
For the future, Michael Dutch – professor of Macon, president of the business and accounting department, and director of MBA – hope that future heights will continue to explore the commercial landscape constantly evolving.
He says Guilford is the ideal host for these conversations. “Guilford is a large school of liberal arts with solid commercial programs,” explains Michael. “The business summit is a way to let the community know that exciting things happen here.”