Breaking Barriers in AI Implementation - Dr. Deepak Renganathan
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Dr. Deepak Renganathan's keynote discusses the challenges of AI adoption in marketing, highlighting a slow rate of integration among organizations. Key barriers include resistance to change, data readiness, and a lack of skilled workforce. He emphasizes the importance of treating AI as an investment and creating a data-driven culture while fostering adaptability and continuous innovation.
Breaking Barriers in AI Implementation - Dr. Deepak Renganathan
- 1. KEYNOTE Breaking Barriers in AI Implementation Dr. Deepak Renganathan VICE PRESIDENT DAMAC PROPERTIES DUBAI, UAE ~ OCTOBER 1 - 2, 2024 DIGIMARCONMIDDLEEAST.COM | #DigiMarConMiddleEast DIGIMARCONDUBAI.AE | #DigiMarConDubai
- 2. Breaking Barriers Unravelling the Challenges Hindering AI Adoption in Marketing Dr. Deepak Renganathan October 2024
- 3. On a Lighter note, 3
- 6. The Slow March to Mainstream 6
- 7. AI Holy Grail? or Effective Sidekick? 7
- 8. Survey with 100+ CXOs 8 Holy Grail (Will replace Humans largely in Processing and Ideation), 31, 28% Effective Sidekick (AI can do great processing, But Humans make the difference), 79, 72% 72% of the respondents feel AI can do great stuff, but Human touch is critical for success
- 9. AI in Marketing •AI supportsTHREE important business needs in Marketing: • Automating business processes • Gaining insight through data analysis • Engaging with customers and employees and understanding their needs real-time 9
- 10. The Real Problem • Everyone wants to Implement AI, But Rarely know where to Start • Even those that Start with off-the-shelf tools, fail by creating Standalone AI system / tools that don’t talk to rest of the organization's data. Another Silos. ButWhy? 10
- 11. Key Findings - Quantitative 11 11 27 19 15 18 13 2 4 0 1 10 16 25 16 15 13 4 9 1 1 1 2 3 4 5 6 7 8 9 10 On a Scale of 1-10, How do you rate your current Organization using AI within the overall Marketing function On a Scale of 1-10, Where do you see your current Organization will use AI within the overall Marketing function in the next 12 months 18% → 25% 47% → 51% Adoption in next 12 Months is still in a SLOW PACE Only 25% of Respondents have ranked 6 andAbove on their Organizations using AI in the next 12 months
- 12. Key Findings - Quantitative 12 16% 27% 34% 22% We have separate committees / resources dedicated to AI efforts We use AI to the extent of the tools we use (like built-in AI within Salesforce, Photoshop AI etc) We have Agencies and they use AI. We don't really have direct efforts We don't push AI as an Agenda as much Tell me how your organization's AI initiatives are setup 56% of the Organizations do not use AI first-hand; Only 16% of the Organizations have separate AI committees to drive AI
- 13. The Barriers 13
- 14. McKinsey Study & O'Reilly 14
- 15. Flipsides The Founding Father of America
- 16. Flipsides Jake Moffatt vs Air Canada
- 17. The Barriers 17
- 18. Strategic Clarity Dell Inc Started with 800 AI Projects Narrowed to 16 Projects
- 19. Resistance to Change Forbes Four in five respondents (77%) express that they are either “somewhat concerned” or “very concerned about” AI tools taking over jobs in the next twelve months`
- 20. Resistance to Change Forbes 42% of workers are worried about their job security while 39% are stressed about the eventual death of their industry because of AI.
- 21. Data Readiness GenAI consumes data at a new level of speed, scale, and complexity GenAI uses data to generate insights unpredictably Security, privacy, and consent require new processes that don’t exist today
- 22. Lack of SkilledWorkforce Upto 80% of respondents said it is difficult to find and hire across different AI related roles 50% Companies said they will Upskill existing workforce
- 23. So,Where do we Start ? 23
- 25. So, How do we Start ? 25
- 26. I - K - I - G - A - I
- 27. 27 Invest, Not Spend • Think of AI not as an expense but as a valuable investment. • Look for AI projects that promise the highest return. • Quick wins are key—they build confidence and support from everyone involved. I - K - I - G - A - I
- 28. 28 Knowledge Up • AI isn’t static; it’s evolving all the time. So, staying updated is crucial. • Make sure you and your team are constantly learning and upskilling. I - K - I - G - A - I
- 29. 29 Integrate • AI needs data to thrive, and that means creating a data-driven culture • Think of data as the lifeblood of AI. Integrate your AI systems with your existing data infrastructure to make sure you’re getting the most out of your information. • The better your data, the better your AI outcomes. I - K - I - G - A - I
- 30. 30 Governance and Ethics • With great power comes great responsibility. • Make sure you’re addressing important issues like bias, transparency, and data privacy. • Should be By Design; not an After thought I - K - I - G - A - I
- 31. 31 Adapt • AI is not a one-size-fits-all solution—it’s constantly changing, and so should your approach. • Be open to experimenting with new AI tools and technologies. • A mindset of continuous innovation will help you stay competitive and keep your AI strategies fresh. Adaptability is crucial for leveraging AI to its fullest. I - K - I - G - A - I
- 32. 32 Innovate • AI is a tool for creativity and efficiency, so use it to push boundaries. • Look for ways to use AI to solve problems in new and innovative ways. • AI should help you think outside the box and drive real improvements." I - K - I - G - A - I
- 33. Is the Future Promising or Scary? 33