The Road Ahead: Key Takeaways for Business Leaders

As AI continues to transform industries, the panellists suggested that businesses must prioritise the factors below to maximise AI’s potential. 

1. AI inventories: Companies must create inventories of their AI systems to assess compliance with the EU AI Act and ensure that their applications are ethical and transparent.
2. Data quality: The quality of data is crucial for effective AI implementation. Drawing from his experience, Dr. Geoui commented, “It’s frustrating when different departments within a company generate valuable data but don’t know how to use it. At the same time, the AI team, focused on cost-saving, argues that the data is too expensive to keep, without realising that data should be reusable.” He emphasised, “To realise AI’s full potential, companies must ensure their data is AI-ready by adhering to the FAIR principles: findable, accessible, interoperable, and reusable.”
3. Love the problem, not the solution: Sean Carney encouraged business leaders to broaden their perspective and look beyond their own sector for solutions. “Someone from another industry has probably solved this issue already,” he said.
4. Don’t take things at face value: Sean urged companies to critically evaluate AI solutions, not just by the brand/company name.
5. Cross-functional collaboration: Successful AI adoption requires collaboration across different departments, including IT security, design, and data science. Involving these stakeholders from the outset ensures that AI systems are secure, user-friendly, and meet business needs.
6. Focus on user needs: When developing AI solutions, it’s crucial to prioritise user needs and enhance their experiences. This involves understanding user workflows, addressing potential concerns, and ensuring that AI systems are seamlessly integrated into existing processes.
7. The rise of AI agents: The panel discussed the growing potential of AI agents, which can orchestrate different AI models to perform more complex tasks. AI agents are expected to streamline workflows and make AI more accessible to users with varying technical expertise.
8. Sustainability considerations: Sean emphasised the need for businesses to not just embrace sustainability but to adopt regenerative models. He believes AI can help businesses achieve these goals by optimising energy usage and promoting sustainable practices.

The panellists agreed that education, transparency, and open dialogue between businesses, policymakers, and the public are essential for ensuring AI benefits society as a whole.

Ultimately, businesses must move beyond the hype and focus on how AI can solve real-world challenges. By staying grounded in practical applications, AI can deliver substantial ROI and propel organisations toward future growth.