The AI Summit New York 2019
December 12 2019, New York, NY, United States
The AI Summit New York 2019
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Experts in AI: What is a cognitive enterprise and how do you build it?
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About speakers

Praveen Kombial Is the Global Product Head for Business Applications at EdgeVerve, an Infosys company. His mandate is to leverage Artificial Intelligence and other emerging technologies to build and launch products solving for specific business problems for industries globally. At EdgeVerve, Praveen leads a highly talented team of Engineers and Product managers in building an ecosystem of Products addressing industries and functions such Financial Services, Insurance, Consumer Packaged Goods and Supply chains.

About the talk

In this interview, we chat to Praveen Kombial, global product head for business applications at EdgeVerve Systems, a subsidiary of Indian IT giant Infosys.

EdgeVerve is a relatively new venture for Infosys, established in 2014 to focus on enterprise software; it has embraced artificial intelligence and released several AI-based products, targeting areas like banking, customer service and IT infrastructure management.

Kombial gave a keynote at the recent AI Summit New York, in which he outlined how to build a “cognitive, connected financial services enterprise.”

“If you pivot to start looking for insights across the customer journey, then you make it a cognitive enterprise, a learning enterprise,” he told AI Business. “Then, when you start learning from those insights, and triggering actions, that makes it a connected enterprise.”

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Hello, where's the Javits Center for the second day of AI Summit New York on my name is Maximo Lex Luthor at a business. And right now with me I have 00:05 IMAX. Yes. So I'm first of all, tell us a little bit about your work at Edgemere. What what day do sure to look at? 12 00:13 is a product company. It's a product Ops III of the larger Infosys Corporation and we are in the business of products in the socket products in the 00:23 Automation and Ai and application space, you know as as you can see it in your presence. I barely 00:32

Hartsfield lot of Investments happening in the industry in this place and I run one of the product lines of business applications, which are 00:41 manifestations of what we're building using Decor Automation in the eye Technologies for solving specific industry shoes. Okay, and you gave her a key 00:50 notes yesterday and that was all about connected cognitive Enterprise. There are 01:00 some people that you tell me it was better for multiple Cognitive Connection Enterprise 01:05

interesting concept. So what you saying is that the world seems to be experimenting on AI. 01:14 You know 67% of the Enterprise's has seemed to have started a journey, but only about seven to eight percent have anything in production and at scale 01:24 right? Why is that dropping off and the number of hypothesis that we have in the sense of people are looking for a problem to solve like a hammer 01:34 looking for a nail, you know, there's no scalability data challenges and so on and so forth. So first of all what we said, he said If U P words to 01:42

start to look for inside across the customer Journey. When you making it a cognitive Enterprise Learning Enterprise, but it's a focuses on 01:51 the value chains and the customers journey across the value chain of the Enterprise. Then when you start learning from those in size and triggering 02:01 actions that makes this a connected Enterprise so learning action-oriented cognitive connected Enterprise using the power of a i 02:10 n m o to solve for customer Journey. That's the content of a cognitive connected and 02:20

absolutely 02:26 no, 02:30 I think it's a concept but in its early stages but who sings Tom Enterprises clearly starting to move down that part and some of our clients 02:43 in the supply chain space. I think I understand the concept of you know, I'm going to start of the journey off going down the path of being a 02:52 cognitive connected Enterprise they have data today on what is a 2 Chainz are doing and sales in ventre promotions 03:02 and they're starting to see those demands signals coming from that as against more traditional ways of planning for the future by bases last year's 03:11

Trends and so on and so forth absolutely and your building sites 03:21 to make meaningful long-term medium temp positions. That's probably a good sign up saying you're going down the part of being a cognitive connected 03:31 Enterprise. So we sing some of our clients in supply chain integration Services business start a 03:38 Google 03:44 web which of these guys, you know, like she should be doing it right now. We have a lot of data are yours for 03:54 Cup bracket? And so I believe industries that has the complexities of 04:04

different products complexities of their ecosystems of customers bochner's and digital environments 04:13 and things like seeds coming from instruments iot excetera bees are 04:22 generating tremendous amounts of data. And if you're looking to my mind Enterprises that are focused on the customer and End customer and have 04:31 a large and customer base. I'll probably go to benefit the most from a i in the circle. And the reason for that is that you start using the aisin 04:41

Liebherr as a digital liver to improve customer journey, and that's the most important thing. So I think in the streets like a retail 04:50 banking Telecom to my mind are at recent places that are investing in I'll go to be benefiting the 05:00 most in the coming year with a I ever 05:10 told me that's 24. They see 05:14 2020 as the year of AI platform to know like when they will start to standardize and Powerless against like, you know, like the winners basically 05:24 Look, I think the industry's becoming a little more mature. We will definitely start seeing an improvement in the people who are starting to put into 05:35

the production. So it's my hypothesis that the 60-70 person who started a journey and only 8 for single put into production will probably move to 25% 05:45 who bought something meaningful in production. Now the question is about the platform's I believe. Yes, they will be a consolidation of 05:53 most meaningful platforms. And of course it with Infosys Mia and as well be hope to be in that meeting list of the Consolidated 06:03 Enterprises, but he also said that they'll be different buying Packers some organizations will look to buy a platform and build their own needs on 06:13

the black phone capabilities will say that look I don't want to invest too much of that. I'm going to make already made a i products. Our business 06:23 apps like we call it and solve for those issues and realize benefits quickly or a mixture of so, yes, we see consolidation. 06:32 Yes, we see more interest guess we see a better realization of outcomes and benefits using the eye but the mix itself could be 06:41 platforms are in already made a i products are depending upon the yeah. Yeah. Yeah. 06:51

I kind of like, you know, like 06:56 Alex people finally trusts the clouds. So yes, I guess you're right. You don't like going to come from the cloud. 07:06 Is that we see this home automation Ai and the usage of those Technologies are not as a as like a convergence. 07:16 We think that's where the future of the industrialized. So a lot of maybe individual product owner is whether they have an IMEI 07:25 platform or an RP a platform and son to hold, you know, might not just be that point of consolidation because we are betting big on 07:35

convergence now, I don't think that's going to happen next year. But since you're asking about predictions, we see this whole Automation and 07:44 intelligent automation space leveraging the power of a unstructured data other capabilities, like vision and having apps that solve for specific 07:52 industry issues is all going to be a point of convergence and that's what we're betting big on and making the long-term investment today to a bond. 08:01

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