Shifting Gears: Building a Connected Ecosystem to Drive Growth
June 25, 2024
Location: Dearborn
LatentView’s exclusive networking event—Shifting Gears: Building a Connected Ecosystem to Drive Growth
There is a critical need to rethink innovation. LatentView’s exclusive networking event in Bengaluru, India—Game Off Shores: Get Your Analytics and AI Forces Together—convened eminent industry leaders to discuss how to innovate with impact.
Welcome Note
Game Off Shores
Get Your Analytics and AI Forces Together
Speaker
Rajan Sethuraman
CEO,
LatentView Analytics
Rajan Sethuraman, the CEO of LatentView Analytics, welcomed everyone to the debut event in Bengaluru. India has evolved as a hub not just for technical expertise but also for leadership capabilities that drive global business success. Global Capability Centers (GCCs) in India are well-positioned to play an increasingly strategic role, moving beyond mere cost efficiencies to become innovation hubs. GCCs were primarily about leveraging cost advantages. However, the focus has shifted significantly toward utilizing talent and bringing innovation. This transition reflects a broader trend where GCCs are becoming integral to strategic decision-making and innovation within global enterprises.
One of the key challenges business leaders face is the integration of various functions within their GCCs. Despite the aspiration to create hubs of innovation and collaboration, silos and compartmentalization often persist. Rajan pointed out that analytics can play a crucial role in overcoming these challenges by facilitating better decision-making and nurturing cross-functional integration.
The evening focused on developing scalable strategies for GCCs, accelerating digital initiatives to deliver tangible benefits, and exploring the practical applications of generative AI to create measurable value.
Panel discussion
Mission Innovation
Scaling-up and Deriving Impact from your GCCs
Moderator
Ravi Shankar
Founder and CEO,
Decision Point Analytics
Speaker
Pankaj Rai
Group Chief Data and Analytics Officer,
Aditya Birla Group
Speaker
Mahesh Balaji
Head of Innovation
Adidas GBS
Business leaders have realized that GCCs are more than just execution partners for daily operations. GCCs are increasingly recognized as pivotal hubs for technological advancement and strategic growth.
Pankaj Rai says that at Aditya Birla, they have designed a comprehensive framework that transcends traditional optimization of data science, engineering, and architecture. The approach integrates three critical layers:
- Strategy, which drives project development.
- Governance for oversight and AI maturity assessment.
- The Operating Model which addresses talent management, financial planning, and ecosystem integration.
According to Mahesh Balaji, Adidas focuses on efficiency, effectiveness, and enhancing the customer experience. He adds that they align their resources and efforts with a clear understanding of customer needs and their willingness to pay. They ensure that their initiatives are data-driven and aligned with business goals.
Mahesh also shared the best practices GCCs can adopt to add significant value to consumer-facing innovations. He feels that a standout practice is hyper-personalization. GCCs, with their vast data resources, can offer real-time insights that enable retailers to tailor their offerings to individual customers. This approach enhances the customer experience and allows retailers to gain deeper insights into customer behavior, leading to a more personalized shopping experience.
In the manufacturing sector, the best practices include focusing on process improvements. Pankaj adds that the integration of information technology (IT) with operations technology (OT) is vital for driving efficiency and advancing process innovations. This integration is key to refining operations and significantly improving manufacturing processes.
GenAI will likely play a transformative role in GCCs. It offers a dual-edge impact. It can significantly enhance capabilities by automating routine tasks, providing advanced analytics, and enabling more personalized and innovative service delivery. On the other hand, it may reduce the need for certain roles as AI systems take over repetitive or data-intensive functions.
As the Head of Innovation at Adidas, Mahesh believes that GenAI will soon enhance existing processes rather than replace individuals’ cognitive skills. GenAI’s primary role will be to augment current capabilities rather than completely redefine them.
GenAI’s role in data engineering is not often discussed, but it holds massive potential. Mahesh says that GenAI could play a significant role in data engineering, especially as we move from deterministic to probabilistic models. It has potential applications in enhancing traditional DevOps practices and supporting tasks such as coding and operational processes.
Mahesh concluded that external partners like LatentView are crucial for enterprises. They provide valuable insights across different domains and industries, helping business leaders reduce blind spots.
Panel Discussion
Real Talk, Real ROI
Digital Transformation That Drives Tangible Outcomes
Moderator
Prashant Vishnupad
Business Head – Industrials,
LatentView Analytics
Speaker
Anil Maddulapalli
Industrial System Analytics and AI Advancement Center,
GDI&A, India, Ford Motor Company
Speaker
Ramakrishnan
Srinivasan
CEO,
The MInT Collaborative -IIT Madras
Speaker
Rakesh Rajora
Chief Information Officer,
CMA CGM Global Business Services – India
(Ex-Wells Fargo)
“Greed, for lack of a better word, is good.” – Gordon Gekko (Wall Street, 1987)
This iconic line from Wall Street might seem fitting for the pursuit of value in digital transformation. While positive ROI is undeniably a driving force behind digital transformation, the reality is far more complex. Despite projected worldwide expenditures on digital transformation reaching $3.4 trillion by 2026 (Statista), before the pandemic, a staggering 73% of enterprises failed to realize any tangible business benefits from their efforts, according to a study by Everest Group.
This panel discussion centered on the challenges and opportunities of digital transformation, with a laser focus on achieving tangible outcomes. Anil began by shedding light on Ford’s journey to adeptly transition into the digital age. He emphasized that successful digital transformation hinges on three pivotal pillars: data management, talent acquisition, and AI integration.
At Ford, he says that the challenge lies in consolidating disparate data sources—from traditional Excel sheets to sophisticated cloud systems—into a unified architecture. This holistic approach is essential for making informed decisions that benefit the entire organization. However, it’s not just about the data; it’s about having the right people to handle it. Anil underscored the importance of assembling a team with a diverse skill set, including data architects, engineers, and data scientists. He also highlighted the significant role of GCCs in rapidly upskilling teams and driving technological advancements.
Moreover, Anil introduced a fascinating concept: using AI not only for data analysis but also for managing and transforming data itself. Ford’s innovative use of machine learning algorithms has revolutionized data access and privacy controls, streamlining processes that once took considerable time. This dual approach—“data for AI and AI for data”—reaffirms the catalytic potential of AI in driving efficiency and innovation.
Rakesh brought a different perspective from the financial services sector, where AI and digital transformation have been pivotal. He pointed out an intriguing paradox: personal technology often outpaces workplace technology, compelling industries to adopt more advanced solutions. He shared several examples. Retail analytics, for instance, revealed surprising consumer behavior insights, such as the correlation between diaper and beer purchases. This data-driven insight allowed retailers to strategically place products, boosting sales.
In banking, AI has significantly streamlined operations. Rakesh shared how Wells Fargo used robotics and AI to enhance customer service and operational efficiency. By automating routine tasks like balance inquiries, they freed up human resources for more complex issues, exemplifying how digital transformation can lead to tangible benefits.
Ramakrishnan discussed MInt’s (Mobility and Intelligent Transportation Collaborative) ambitious goal of transforming the mobility ecosystem at a national scale. He identified three primary challenges: data access and management, cybersecurity, and policy design. There is a dire need for designing policies that translate into meaningful outcomes, ensuring that systems are user-centric and responsive to their needs.
Furthermore, Ramakrishnan highlighted the need for a collaborative ecosystem. By integrating real-time data exchange and fostering cooperation among various stakeholders—government agencies, private companies, and citizens—MInT aims to build a connected infrastructure that enhances safety and efficiency in transportation. He underscored the importance of digital twin technology in product development, enabling real-time monitoring and improvements.
The panelists provided compelling examples of how digital transformation has led to tangible outcomes in their respective fields. Anil recounted how Ford optimized its supply chain during the chip shortage by using data algorithms to prioritize high-profit vehicles, thereby improving production planning and inventory management.
In the financial sector, Rakesh described how Wells Fargo utilized robotics and AI to revolutionize customer service. By automating mundane tasks and creating a unified customer view through intelligent APIs, they significantly enhanced the customer experience and operational efficiency.
These insights underscore that digital transformation is not a one-size-fits-all solution but a multifaceted journey that requires a deep understanding of data, strategic initiatives, the right talent, and the innovative use of AI. By addressing these core components, organizations can drive tangible outcomes, ensuring they stay ahead of the curve.
On-stage Demos
GenAI in Action
Generating Real Value Through Generative AI
Speaker
Ganesh Sankaralingam
Delivery Head – Technology,
LatentView Analytics
LatentView Analytics
As Ganesh Sankaralingam, an analytics and AI leader, took the stage, he drew an entertaining parallel between the hype surrounding GenAI and past technological revolutions. Just as the dot-com boom and the rise of cloud computing created waves of excitement and skepticism, GenAI is now riding the hype wave, and Ganesh’s insights shed light on how this innovative technology is poised to deliver real value.
Ganesh started by reminding us of the cycle of technological adoption, likening it to a recurring theme in tech history. “Every five years,” he quipped, “we see a new technology, new compute power, and new storage solutions coming together in a thrilling tech cycle.” Right now, GenAI is at the forefront of this cycle, and the combination of advanced algorithms, massive data sets, and powerful computing resources is fueling its rapid growth.
One of the most compelling examples was an intriguing use case involving customer support. A Fortune 500 device manufacturer faced issues with a high volume of customer support interactions. The challenge was to streamline the process of handling support calls related to product issues, such as a weak battery. The company had amassed between 5 to 10 million case notes. By leveraging the BERT model, the company was able to analyze terabytes of data and provide support agents with precise recommendations for resolving issues. This system didn’t just streamline operations; it boosted first-time resolution rates from 60% to 85%. This highlights how GenAI can dramatically enhance service efficiency and customer satisfaction.
GenAI is changing the way we approach knowledge management. Ganesh introduced the audience to LASER, an enterprise knowledge search solution that consolidates scattered documents into a centralized knowledge repository. This transformation isn’t just for tech giants; it’s a game-changer for industries like pharma, where research documents are cross-pollinated across regions, enhancing productivity and knowledge accessibility.
A particularly intriguing development was the rise of Small Language Models (SLMs). Unlike their larger counterparts, SLMs can operate on CPUs rather than requiring hefty GPUs. This innovation means that specialized tasks, such as those in automotive or industrial settings, can be handled efficiently on local machines. SLMs represent a more accessible and versatile approach to implementing GenAI across different domains.
Ganesh also tackled a common concern: the potential threat GenAI poses to developers. He reassured that while GenAI is a powerful tool for enhancing productivity, it won’t replace the critical human elements of project management, such as requirement gathering and user feedback. Instead, GenAI will augment these processes, making coding and data management more efficient.
Looking ahead, Ganesh sees GenAI and Retrieval-Augmented Generation (RAG) models becoming integral to GCCs. These technologies will refine data handling and reduce reliance on traditional dashboards, replacing them with more intuitive and interactive solutions.
With proper data governance and a focus on quality, GenAI promises to be more than just a buzzword—it’s set to be a transformative force that can drive measurable outcomes. Is your organization GenAI ready? Find out now.
Keynote Address
The Winds of Change
Then, Now and Beyond
Speaker
Krishnan Venkata
Chief Client Officer,
LatentView Analytics
LatentView Analytics
Over the past decade, especially post-COVID, GCCs in India have transitioned from mere capacity centers to centers of innovation. Initially focused on back-office operations and IT maintenance in the early 2000s, GCCs have evolved to embrace capabilities in business process excellence and digital transformation. Today, they are emerging as Global Innovation Centers, driven by the availability of skilled talent and technological advancements such as AI, machine learning, and data analytics.
Currently, India hosts over 1,500 GCCs, with projections suggesting this number will exceed 1,900 within the next year and a half. These centers are now utilizing disruptive technologies to drive business outcomes and technology leadership, marking a significant shift from their previous roles.
- Increased Focus on Innovation: GCCs are no longer confined to back-office tasks; they are increasingly involved in cutting-edge projects involving AI, machine learning, and GenAI.
- Business Outcome Metrics: Modern GCCs are aligning their KPIs with broader business outcomes rather than just operational efficiencies.
- Transformation Hubs: The COVID-19 pandemic accelerated the transition of GCCs into hubs of digital transformation, data analytics, and portfolio expansion.
Despite their advancements, GCCs encounter several challenges. Established brands have an edge in attracting top talent, leaving lesser-known firms struggling with recruitment due to cost commitments. The need for continuous upskilling as technology evolves presents difficulties, with many GCCs unable to offer meaningful career development and training opportunities. High-caliber professionals often seek engaging, cutting-edge work, but GCCs are sometimes seen as providing routine back-office tasks, which may lead to dissatisfaction with job roles. Innovations developed within GCCs can face hurdles in gaining traction or broader adoption, resulting in solution stagnation and frustration among employees.
LatentView Analytics is dedicated to addressing these challenges through its tailored approach:
- Establishing New GCCs: For clients looking to set up new GCCs, LatentView offers comprehensive support, including talent acquisition and operational efficiency. This “build-operate-transfer” model ensures a smooth setup and scalability.
- Scaling Existing GCCs: For established GCCs struggling to scale, LatentView provides strategic partnerships to enhance capabilities and meet evolving demands.
- Enhancing Analytical Capabilities: LatentView can also own the analytics function within GCCs, helping to advance analytical capabilities and drive better outcomes.
As GCCs continue to grow and adapt, partnering with analytics providers can help to move through these complexities and utilize the full potential of innovation and technology. LatentView’s Global Innovation Hub helps business leaders synergize global operations enabling them to setup, scale, and succeed in every stage of their GCC journey.
Solutions in Action
Smart Innovation
Smart Innovation is an AI/ML-powered engine that improves the success rate of product innovation by five times. By enhancing the success rate of innovation, Smart Innovation identifies trends ahead of the curve and significantly reduces time to market. It achieves this by analyzing data points derived from consumer reviews, social media conversations, and product-related data.
Crafting Tomorrow’s Solutions Today with Data-driven Insights
BeagleGPT
BeagleGPT is a Gen AI-powered conversational analytics tool integrated into Microsoft Teams for you. Scrutinizing through many dashboards and reports to get the insights you need is often tedious. This never-ending search increases the time to insights thus affecting timely decisions. BeagleGPT is your own conversational assistant to actionable insights in a jiffy. Overcome siloed, dated, and scattered insights, make informed decisions faster.
Move from hundreds of dashboards into one GenAI app
GenAI Accelerators
As an end-to-end data specialist and NVIDIA Select Partner, we deliver enterprise-wide value through cutting-edge GenAI solutions. We build comprehensive AI workflows tailored to our clients’ unique needs. Through strategic partnerships and accelerators, we drive rapid value realization and responsible GenAI adoption. Our proven accelerators expedite time-to-market and deliver measurable ROI.
Synergize AI with your business strategy
Glimpses of the Event
Our Past Events
Tandoori Bytes – CPG & Retail Leaders Confluence
June 20, 2024
Location: New Jersey
Two analytics powerhouses joined forces for an exclusive event for CPG and retail leaders to discuss the importance of analytics.”
LatentView Analytics Roundtable – Return on Innovation
February 23, 2024
Location: London
The theme of LatentView’s 2024 Analytics Roundtable in London, England—the 17th edition of the event—was “The New ROI: Return on Innovation; Connecting the Dots Between Business Investment and Value Creation With AI and Analytics.”
