Preparing Your Business for the Gen AI Wave: Insights from Joel Correa and Shaji Thomas at Cypher 2023

At Cypher 2023, Joel Correa, Vice President of Technology & Automation Services CXM at Merkle, and Shaji Thomas, Vice President of IP & Platforms at Merkle, engaged in a comprehensive discussion on preparing businesses for the “Gen AI Wave.” The conversation covered a range of topics, including governance, future trends, and the role of AI in various sectors like healthcare and marketing.

Three Pillars of AI Implementation

Joel and Shaji introduced a framework consisting of three pillars for AI implementation: Empower, Optimize, and Evolve. They emphasized the importance of empowering employees with the right tools and platforms, optimizing existing processes, and evolving by training models from scratch when necessary.

Governance and Accountability

Both speakers highlighted the importance of governance and accountability in AI. They discussed the need for robust frameworks that ensure responsible AI implementation, linking accountability to benefits and compensation to make the process more effective.

Future Trends in AI

Joel Correa talked about future trends in AI that excite him, such as generative AI and its potential applications in content creation for marketing, service operations, and education. He also discussed the growing role of AI in open banking and the increasing demand for computing power in this sector.

AI in Healthcare and Marketing

Shaji Thomas elaborated on the application of AI in healthcare, particularly in fraud detection. He also discussed a marketing analytics use case, explaining how AI can help in efficient customer targeting through techniques like lookalike audience generation.

Human Element and User Interaction

Both speakers agreed that the human element is crucial in AI. They discussed the need for human intervention to contextualize AI outputs and remove biases. They also touched upon the future of user interaction with AI, predicting a shift towards more conversational interfaces.

Conclusion

The session by Joel Correa and Shaji Thomas at Cypher 2023 provided valuable insights into preparing businesses for the Gen AI Wave. They covered a wide array of topics, from governance principles to future trends, offering a comprehensive guide for anyone looking to understand the complexities of implementing AI in a business setting.