Propeller Industries’ Post

Is saving FTEs a good way to calculate the value for #GenerativeAI? The simplest way to show that a #GenAI is benefiting the organization is to show it saves time of the people. On a large scale this means saving FTEs. But what does it actually give you? Saved FTEs are not value by itself. Unless you let those people go like Klarna with their customer support is a vanity metric. What you need to do to capture the value is to learn what the employees will do with the saved time. If it's your marketing team - will they generate more content that is better personalized? How this translates to monetary benefits? Does it bring more customers? Does it shorten the time to close the deal? Improve retention? Increase margin? Open new markets? Or will the save time be used to spend more time in your chillroom? To calculate the value delivered by implementation we need to understand what is the outcome of the saved time. Not just take their salaries and multiply by saved time. If you want to learn more about capturing value from innovations like (Gen)AI book a meeting with me with a click of a link under my name.

Journey Through the Digital Renaissance Just the other day, I found myself marveling at how far we have come in the world of digital business. It seems like yesterday when AI was a term spoken only among science fiction novel readers, and international business used to be this huge maze of logistics and barriers. Today we stand at the threshold of a digital renaissance that is reworking every aspect of doing business. I remember when I was first told about AI's capabilities in business, and how skeptical I was. Fast forward to today, and I am constantly impressed by the manner in which AI is capable of slicing and dicing data, and foretelling trends with an accuracy that could not be thought of. It is as if one had a crystal ball to aid businesses in anticipating market movements and customer needs so that decisions would be proactive and not reactive. E-commerce: The Global Marketplace Next is e-commerce, once a fledgling dream now expansive and a digital market space. I have watched small local businesses, some from my own community, expand their horizons to serve customers halfway across the globe; all through platforms including Amazon and Alibaba Group. This global reach, combined with a local touch, reshapes retail in ways only dreamed of. Sustainability: Commitment Beyond Business The drive for sustainability has now become the new focal point, thanks to advancements in technology. Greener technologies and ethical practices ensure a promise for the future ahead. It is inspiring on my part how businesses set apart priorities for a more ecologically balanced world. As we move into these times of transformation, it is a mere redevelopment of a business when AI, e-commerce, and sustainability come together to redefine our future. So, I ask you: How do you embody the changes that this digital shift brought? #DigitalTransformation #AI #Ecommerce #Sustainability #GlobalBusiness

Alibaba.com announced January 9 that it would be launching its new AI-powered Smart Assistant features at CES 2024 in Las Vegas, Nevada. Alibaba.com said that the Smart Assistant tools for global sourcing will help small business owners discover new commerce opportunities, stay up-to-date with market trends and track orders. The company also said that the Smart Assistant tool will be equipped with an Instant Help feature that provides users with a chatbot that will answer all their questions in real-time. “Today’s small businesses face a variety of headwinds, but with the right technology and support, they can feel confident that they will overcome obstacles and help their business thrive, which is why we’re expanding the features of our new Smart Assistant tool to better serve today’s entrepreneurs,” said Chris Lu, general manager of Alibaba.com North America. “With advances in AI, we are ushering in the next generation of sourcing and empowering small businesses to succeed with our Smart Assistant at their side.” https://lnkd.in/gq5NshZT

Supply chain operations involve a vast amount of data points from manufacturers, distributors, and retailers all with different systems. #AI helps more efficiently ingest, homogenize, and run simulations to provide insights and recommendations from disparate supply chain partners and third-party data sources. In our conversation with Alex Riehl of BetaKit, we gave insight and background into our recent investments Algo and Impact Analytics, both companies are empowering their customers to swiftly deploy solutions, yielding compelling insights within a matter of months. This stands in stark contrast to the cost and time to implement or derive actionable recommendations from legacy monolith technologies. Click below to learn more.

This successful deployment of technology has not only boosted #profitability but also positioned Coles as a leader in leveraging #AI for operational efficiency and growth. Amidst the grocery wars, companies like Coles and Woolworths lead in the uptake of #advancedtechnologies. (Source: www.afr.com) #ncrvoyix #AI #profitability #advancedtechnology #platform #infrastructure #edge #computervision

Here is a solution to save your budget! But the first key takeaways from the McKinsey report are: ➟ GenAI could boost the global economy by $2.6T–$4.4T annually. ➟ It benefits industries such as finance and health by lowering costs and increasing efficiency. ➟ Automates 60–70% of current tasks, reshaping businesses and driving growth. ➟ AI-driven cost savings and creativity push businesses to new productivity levels. How can e-commerce companies use AI to cut costs and boost productivity? 𝘴𝘰𝘶𝘳𝘤𝘦: 𝘔𝘤𝘒𝘪𝘯𝘴𝘦𝘺 & 𝘊𝘰𝘮𝘱𝘢𝘯𝘺 --- ♻️ Insightful? Hit ‘REPOST’ --- #StuTek #StuTekAI #aiinecommerce #artificialintelligence

🚫 Aggregation VS ✅ Incubation Nobody likes e-commerce aggregators anymore, the model failed and investors are left with hard feelings. Common mistakes: ❌ Buying the wrong brands ❌ Taking on difficult-to-market products ❌ Lack of funding ❌ Unprepared to issues on the product level When the business is incubating the brand, leveraging data: ✅ Products discovery is based on the consumer demand ✅ Over 70% of traffic is organic as a result of existing demand ✅ Increased investor interest thanks to a lower risk profile ✅ In-house team manages the entire product lifecycle and addresses issues in record time Wonder Family has 50+ people working on the product side. We built a business first and now we automate it, brining AI technology to the game. We transitioned from releasing 1 product per month to 10 and our goal is to reach a hundred. 🔴 This new asset class earns passive income to our investors. 🔱 If you are an accredited investor, reach out to learn more.

If you still think AI is just hype, think again. Klarna, one of the world’s leading fintech firms, is not just adopting AI but going all in. Recently, they announced plans to replace key SaaS providers like Salesforce and Workday with their internally built AI systems. 💻 Klarna’s bet? AI can handle everything from HR to marketing better than established software giants. 💡 It’s a bold move and one that has the tech world buzzing with skepticism. Many believe Klarna is taking on more than it can handle, and with reports of significant downsizing, critics argue it’s all just PR before an IPO. 🔄 Still, it’s hard to deny the shifts AI is causing across industries. Klarna’s success or failure may set a new precedent for how companies leverage AI to streamline operations and boost profitability. 📈 What’s your take? 💭 Are we witnessing a revolution or just another over-hyped tech experiment? 🔬 #AI #DigitalTransformation #Innovation #Fintech #Leadership

I recently got to record a conversation between Saam Motamedi and I that offers how we think e-commerce is evolving given the changes from tracking and AI. When I listened to it (to make sure I didn't say anything silly that we should edit out), I felt sense of great joy around how it really felt like a conversation from when Saam and I used to first talk about the idea back in early 2021. Some of the things that were especially interesting to reflect on: - How few people even understood what I was talking about in 2021, and how the market moved over the next 18 months. I am grateful to have a team, early customers, and a partner in Saam who believed in me and FERMÀT. - The fact that AI was a 'surprise' tailwind. The business worked without it, but is turbocharged and deepens deeply the advantage we have now that AI has capabilities that were previously taxing to implement without AI. - The very clear and obvious change in the consumer internet that is happening, that I still see people undervaluing. I am of course fortunate that Fermat's growth is benefiting. I also think it gives us an opportunity to better educate the market -- and I will continue to do so in every way I can. Let me know what you think of the conversation (link in comments)