Enterprises Finding Value With Generative AI
Corporate Innovations
by Evangelos Simoudis
1M ago
Enterprises use several different technologies, including AI, to automate their processes and create value. They are currently experimenting with generative AI to determine whether it can provide significant and enduring value. Is the enterprise’s excitement about generative AI justified? Is the size of the investments being made and planned warranted? What is their strategy missing and should be in their action plan? Over the years, enterprises have used AI to automate various processes. The goal of each such automation was to improve productivity, reduce costs, increase efficiency, enhance t ..read more
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CES 2024: AI and SDVs
Corporate Innovations
by Evangelos Simoudis
2M ago
Another CES is behind us. The automotive and mobility extravaganza of years past was replaced this year by an AI extravaganza. For the automakers and their suppliers that participated at CES this year was about AI and Software-Defined Vehicles (SDVs). There were lots of demos involving AI and SDVs, and even more marketing statements full of hyperbole about AI’s potential to benefit the customer experience. Let’s give it 12-18 months to see what turns from vision to reality. I spent a few days at CES this year. It was my first visit since 2020. The crowds returned (and along with them the long ..read more
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2024 Enterprise AI Themes
Corporate Innovations
by Evangelos Simoudis
2M ago
Since the beginning of last year, the interest in AI has gone into overdrive. Enterprises tried to “out-announce” one another regarding their use of AI. Similarly, venture investors have been investing large sums at nosebleed valuations in startups developing anything that appears to involve generative AI. But, despite the corporate statements and the venture investments, the adoption and deployment of AI, and more specifically generative AI by the enterprise, are still in the very early stages. This is the year during which enterprises from a variety of industries will experiment with discrim ..read more
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Understanding the Costs of Enterprise Generative AI
Corporate Innovations
by Evangelos Simoudis
3M ago
We are still in the early phase of enterprises adopting generative AI. However, even at this early point enterprises must understand the costs associated with the use of Large Language Models (LLMs) as they embark on developing generative AI applications. These costs can become significant. The goal of this post is to identify the cost categories and show the decisions that impact the costs. Enterprises can then use the analysis to assess the best way to move forward with experimentation, implementation, and deployment of generative AI-based applications. In a previous post, I discussed the th ..read more
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Succeeding in the Era of Generative AI
Corporate Innovations
by Evangelos Simoudis
6M ago
As with every previous AI era, the benefits promised to the enterprise from the application of generative AI will likely be lower than those that will be achieved. To succeed, enterprises must avoid the pitfalls of the previous AI eras. Over my 40-year career in enterprise AI, I understood the types of and reasons for these difficulties and what enterprises must do to avoid repeating them as they apply generative AI. I share them below. Over the past forty years, and prior to the introduction of Large Language Models (LLMs), AI went through three eras: Expert Systems era in the 80s, Machine L ..read more
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How Ford and Rival OEMs Are Pursuing Recurring Revenue from Customer Services
Corporate Innovations
by Evangelos Simoudis
8M ago
Automakers want to capture a larger percentage of their customers’ lifetime value than they do today. As newcomer automakers, led by Tesla, are already demonstrating, to achieve this goal incumbents will need to offer services that the customer finds relevant. On Monday, Ford announced the creation of the Integrated Services Unit to provide such services to consumer and business customers, named Peter Stern to lead it and stated that it already has 550,000 subscribers for the services it already offers. To achieve their goal, OEMs must establish direct relationships with their customers, creat ..read more
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Generative AI Investment Theses
Corporate Innovations
by Evangelos Simoudis
8M ago
During the last six months, we spent time with our firm’s corporate partners to assess whether the enterprise is ready for generative AI and updated our investment theses accordingly. Our work convinced us that Large Language Models (LLMs)/Foundation Models and applications that incorporate them will open the door to the development of a new class of intelligent enterprise applications. Since its founding, our firm has been investing in early-stage startups that develop horizontal or vertical enterprise software AI applications. We focused our attention on data-driven and machine-learning-base ..read more
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Ford CMD: The Right Goals Are Set; But Can The Company Execute?
Corporate Innovations
by Evangelos Simoudis
10M ago
Last week I attended Ford’s Capital Markets Day. Ford held the CMD to report on the progress of its three divisions and the goals they will be measured against. This piece focuses on the goals relating to software development and customer experience and their impact on the recurring monetization of the company’s customers because these are also the themes of my forthcoming book. Ford’s by-invitation CMD was the first it held in several years. Those who attended it in person had the added opportunity to experience some of the company’s new models. I attended remotely. Reporters in attendance wr ..read more
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Generative AI in New Mobility
Corporate Innovations
by Evangelos Simoudis
1y ago
In the previous post, I discussed AI’s role in new mobility. I identified the three roles AI can play as an enabler, a differentiator, or a monetizer. The recent explosion of interest in generative AI begs the question: could generative AI contribute to new mobility and if so, in which of the three roles? This post attempts to answer this question by presenting a few ideas and identifying problems that may inhibit the broad use of generative AI in new mobility. Over the past few weeks, several of our firm’s corporate partners have asked about generative AI and its implications on their busines ..read more
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Big Data and AI In New Mobility
Corporate Innovations
by Evangelos Simoudis
1y ago
AI is viewed by many exclusively as a prediction technology. The availability of large, diverse, and information-rich data sets combined with the power of neural networks has been responsible for achieving incredible results even in complex, multi-faceted situations. Every aspect of new mobility has benefited from AI’s prediction power. The navigation abilities of autonomous vehicles and the ability of on-demand mobility services companies to provide their drivers with the best route between a customer’s trip origin and desired destination wouldn’t have been possible without this predictive po ..read more
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