Max SmolaksEditor at AI Business
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.”
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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