Why is Artificial Intelligence (AI) one of the hottest trends across industries? Because it has the potential to help companies leverage customer data and boost productivity. When people hear about AI, they might picture a humanoid robot with a conscience, but that isn’t exactly accurate. In fact, we are still far from that.
What most people don’t realize is that the concept of AI isn’t new. AI has come to light since the 1950s. It refers to a branch of computer sciences that defines the techniques applied to solve problems with machines. AI is a system that mimics some aspect of human intelligence, it’s the concept that machines are able to carry out tasks in a smart way.
Hector Padilla, Senior Director of Engineering at Wizeline was invited to participate in the SaaS and Artificial Intelligence panel at the Epicentro Festival de Innovación on October 4th to demystify some misconceptions about the role of AI in today’s business.
The festival defines itself as a celebration; it is a place for sharing knowledge and connecting with other forward-thinking minds. It consists of conferences, workshops, mentorships, and hundreds of free activities for those interested in business innovation and technology. The event started in 2014 as a joint venture between the Secretary of Innovation, Science, and Technology in the state of Jalisco, along with private companies such as Amazon, Microsoft, and the local start-up ecosystem.
During the panel, experts shared their vision about how AI is starting to transform how organizations are connecting with their customers and making decisions. Padilla was joined by leaders from companies such as Oracle and Billpocket.
Key takeaways from the panel discussions:
- The amount of data we can collect with the available technology is irrefutable, but segregated data is not intelligent by itself.
- Businesses need to be able to extract relevant insights by identifying patterns and differences from their data.
- We will see increasing opportunities for data science and data engineering professionals in the near future.
- The challenge most organizations face is understanding AI and seeing it as a key element in facilitating business decisions and the customer experience
A common misconception among business leaders is that AI can only disrupt or transform tech-related industries. Any industry that has access to customer data can benefit from AI technologies. As simple as suggesting complementary products to customers based on purchase history, historical data is crucial to AI. Regardless of the industry, data has the power to transform the way organizations serve their markets.
“When you automate complex and industrial processes, you are not just improving the competitiveness of a company.” said Padilla, “You are boosting human capacity; that’s why AI is such a revolutionary topic.”
The panelists encouraged entrepreneurs in attendance to invest in talent acquisition, and data management and processing. They urged them to look at their current infrastructure and integration process to prepare for high-performance solutions.
Padilla highlighted that Mexico’s tech industry is mature enough to draw upon business opportunities within AI and to provide career opportunities for talented professionals within it.
Padilla’s perspective is influenced by his personal experience. He returned to Mexico after a successful career in the tech and gaming industries in Silicon Valley and the Netherlands. Today, he is able to grow his career while strengthening the Mexican tech ecosystem in his leadership role at Wizeline.