AI to Be The Next Big Thing; Pointers for CIO's to Adopt AI

In a survey conducted among over 3000 CIO's based across 89 countries, it was found that AI took the top spot among technologies with the highest capability to disrupt the existing models of business and 37 percent of them have already

Apac CIOOutlook | Monday, October 28, 2019

Fremont, CA: Businesses of all kinds are rapidly trying to adopt robotic process automation into their existing business models. The time has come for CIO's to make a decision. They can either accept the changes brought in by the advent of Artificial Intelligence (AI) or perish along with other companies who failed to cash in on this opportunity. AI has become an integral part of our day to day lives and has also crept into almost every aspect of a business.

AI may be a digital process, but it is also responsible for garnering a professional environment and fueling the digital drive. It is a common misconception that AI is here to replace human labour. In truth, AI only enhances human labour by reducing the time and effort required to complete a task. It improves the efficiency of work and work rate. In doing so, AI sets a certain standard of technical knowledge in the organization. Workers need to develop specific skill sets in order to be able to operate AI-powered devices.

Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.

The amount of investments flowing into the development of AI technology is immense. In 2019, global AI investments stood at USD 24 billion, and it is expected to reach USD 77 billion by the year 2021. The adoption of AI technologies in ASEAN countries is also gaining a lot of traction. Singapore's recent investment of USD 500 million to develop AI systems is a statement of intent by the Singapore government to establish Singapore as a powerhouse on this frontier.

In a survey conducted among over 3000 CIO's based across 89 countries, it was found that AI took the top spot among technologies with the highest capability to disrupt the existing models of business and 37 per cent of them have already deployed AI into their business models or will do in the near future. This is an example of how quickly AI is encroaching into the traditional models of business and gaining a strong foothold. Companies have now realized the value of AI and how many opportunities it has brought along with it. In some cases, it has even opened an entirely new revenue stream for the business. However, adoption of AI into a business is not an easy task.

Here are 6 pointers for CIO's to keep in mind while incorporating AI into their business models.

Building the Infrastructure

When it comes to the adoption of any new technology, it comes with a prerequisite of an upgrade of infrastructure. Once the new support is in place, and AI is deployed, the CIO's need to step in and play the role of translators between the technology and the business. They need to be able to speed up the working staff with the new technology and the changes it brings along with it. Next, they need to plan the path forward where the business and the technology go hand in hand. It is crucial that CIO's position themselves as a digital business enabler, and not just a technology provider.

Bridging the Gap

When a cutting edge technology is implemented, it often tends to make the existing objects look old and obsolete. The current software may not be compatible with AI, or even the hardware may be too outdated. It is the role of the CIO's to bridge this gap and ensure smooth functioning of the business. This can be done by hiring developers, data scientists, and solution architects to update the existing technology or suggest the best options for an upgrade. This may sound budget heavy and can drain the company's capital very quickly. However, by building partnerships with startups or academic institutions, a budget-friendly solution can be found to bridge this gap.

Emerging Risks with AI

One of the significant challenges that AI brings along with it is data silos. In most cases, enterprises are dependent on existing data, and this tends to derive the value of AI. Companies have been running using conventional methods that include the use of disconnected tools, causing delays in projects. This interferes with the iterative nature of AI. CIO's need to step in here and consolidate all the data into one platform, modernize their IT infrastructure, and provide a collaborative work environment where different departments communicate with each other on a regular basis.

Any kind of technology today is critically scrutinized with issues like data privacy and ethics. AI can process large amounts of data at once and make observations from it at a rapid rate. While this may seem like an advantage to many companies, it is also a threat at the same time. Any amount of automation can tend to raise questions of data privacy, and AI can be seen as a process that involves over automation. To avoid exploiting of any kind of personal data, AI needs to be checked upon, and the CIO's must have controls in place that will safeguard their customers.

Reinventing Organizational Roles

Applying AI to your business can instigate rapid growth and transform their mode of operations. This provides CIO's a massive opportunity to change their roles within the organization. CIO's carry deep technical background and knowledge and must take advantage of these opportunities. They must take charge of the whole implementation process of AI and control all proceedings from start to finish. This includes laying out a proper plan after adequate research work. They must also ensure that all lines of business have a smooth adoption and integration of AI.

Continued Investments

For any organization to be productive, there needs to be a chain of command and efficient communication between teams. Any technology that is lagging behind must be focused upon by the CIO's and adequate resources should be deployed in these areas to speed them up to date. This involves making investments in technologies of the future. Even before a technology becomes up and running in the market, CIO's should be ready with a plan on how to implement it into their business. There is a vast number of technologies emerging every day and organizations must keep up to date with these. In most cases, these technologies enhance the performance of existing ones. In the case of AI, CIO's should be on the lookout for new technologies that can improve the performance of the AI systems in place, improving organizational capabilities.

Retrain, don't Rehire

One of the most common notions among organizations is that AI will bring automation to a lot of processes, leading to a lack of jobs for humans. To the contrary, any kind of automation requires significant amounts of manual overseeing in order to be implemented smoothly. AI's will enable a more efficient workforce without delays and disruptions. The combination of AI and human workforce enhances the quality and quantity of output. One thing to remember is that CIOs need not always hire new staff that is compatible with AI-driven technology. Training your existing employees tends to increase your output further as it saves you the time spent on getting new staff adjusted to the organizational structure.

Check out: Top Artificial Intelligence Solution Companies

More in News

Trends Influencing Security and Surveillance

People usually think of surveillance cameras as digital eyes which are watching over to keep criminal activities at bay. Most surveillance cameras are passive, however. They are used as deterrence, or to provide evidence if something goes wrong. “Your car got stolen? Check the CCTV.” This scenario is however changing, and fast. Artificial intelligence is aiding surveillance cameras with the appropriate acumen to help the ‘watchful eyes’ to analyze live video footages, without requiring any human to govern it. This can be highly beneficial for public safety as it would help police and first responders to spot crimes and accidents easily. On the other hand, biometrics, which has remained a part of the security narrative for years now, is maturing evermore rapidly; allowing for retinal scanning, facial recognition, and even sitting posture, heartbeat, and body scent to recognize a human being. The age of privacy may have fallen behind, but security is still something everyone has to consider. Turning at the corner of a new reality, where abundantly available personal information makes it possible for criminals to target practically anyone, one would need to do more than just ‘employ’ the latest in security technology. Alongside, drones, which have been in use in the consumer market for quite some time now, have only recently started to become more common as a method of surveillance and security. Security drones can do everything from snapping pictures of suspicious or illegal activities, to actually chase down and follow potentially dangerous suspects. Some surveillance drones can hit speeds as fast as 50 miles per hour, and may also have the advantage of LED or infrared lights to better capture pictures and video. These new advances suggest public life can still be secure in an increasingly exposed world. Check out: Top Drone Technology Companies ...Read more

Role of Blockchain in Building Trust Economy

It is expected that during the next two years, organizations will put more efforts in testing blockchain technology as an integral part of the new method in establishing trust in the new age of digitalized economy. Deloitte LLP's new research shows that "trust economy" at present is developing P2P (person-to-person) transactions which are generally enabled by blockchain technology. Also, these transactions are not dependent on the traditional methods such as guaranteed cashiers' cheques or credit ratings. The Deloitte analysts' reports also say that it relies on each party's digital identity and reputation that will soon be stored and managed within a blockchain. The "trust" factor of individuals may include tax information, professional or financial histories, consumer preferences, and medical information. Reputational identities can also be maintained by companies who can develop a good trustworthiness being a business vendor or a business partner. Blockchain as Trust Builder Blockchain is an electronic ledger for the public like a relational database which can easily and openly be shared among users to create records. These records are basically unchangeable in nature, and each of them is stamped for once and linked to the previous one. The digital records or transactions are lined like a thread which is called a block, out of which the name has been created. It allows either an open set of users who can participate in electronic ledger. However, each of such blocks is linked with a particular participant. Participants can keep the blockchain updated being a vital part of the system and once new data enters in the chain; it can never be removed. Blockchains, however, contains verified and true records of each and every transactions made within a system. ...Read more

Navigating the Blockchain Revolution

In conversations about recent technological advancements, it's essential to highlight the impact of IoT and AI. The technologies have significantly shaped various aspects of our daily lives. The integration of IoT with AI holds the potential to create applications that enhance convenience in our routines. As the technologies evolve, they promise to streamline processes and improve efficiency, making our interactions with technology more seamless and intuitive. The future lies in how effectively these innovations can be harnessed. A fine illustration of this blend would probably be a smartwatch which comprehends body fluctuations such as variations in the heartbeat and pulse and notifies the concerned. A recent article published by 'Wired' stated that IoT will be significantly AI-driven in the years to come. Myriad electronic devices embedded with sensors would pave the way for a data deluge overwhelmingly large to retrieve the right information or draw inferences from. Application of AI techniques such as machine learning would help in the derivation of patterns from large data volumes that could help in better decision making. A music platform which offers several hundred thousand tracks is another instance that would help in better understanding the application of AI to derive useful data patterns. A display of suggested playlists which might suit the tastes of the user, based on the track currently playing not just makes the channel user-friendly but also betters brand perception. Industry veterans predict an upswing in futuristic technological innovations that leverage AI and IoT, considering the rapid evolution of both the technologies. ...Read more

Embracing Innovation: Tech In APAC Work Environments

As the global population grows, Latin America is emerging as a key player in the worldwide food supply chain. The region, including the Pampas and the Cerrado, is transforming rapidly. Traditional commodity trading, once based on informal agreements and manual processes, is giving way to a sophisticated, data-driven, and environmentally conscious marketplace. This transformation is fueled by rising global demand for food security, the need for climate resilience, and rapid technological innovation. Traders, producers, and governments are working together to shift Latin America from a raw material exporter to a provider of high-value, traceable, and sustainable nutritional solutions. The future of agricultural trading in the region centers on three interconnected trends: digitalizing the value chain, monetizing sustainability, and modernizing logistics infrastructure. The Digital Transformation and Fintech Integration Latin American agricultural trading is rapidly shifting from analog to digital systems. Previously, price discovery and hedging were centralized in urban exchanges, often disconnected from rural realities. Now, broader access to data is transforming how value is assigned and transferred. The trading desk is increasingly connected to the field through the Internet of Things and satellite analytics, enabling real-time feedback and greater market efficiency. Advanced analytics and Artificial Intelligence (AI) now play a central role in risk management and trade execution, extending well beyond basic yield prediction. Algorithms analyze large datasets, including soil moisture, local weather, and global shipping rates, to optimize sales and purchase timing. This detailed approach enables traders to shift from broad hedging strategies to precision-hedging, managing price risk for specific harvest periods and regions. As a result, the information opacity that once enabled arbitrage is fading, giving way to a market that values efficiency and predictive accuracy. Alongside these advances in information, the sector is becoming more financialized through specialized fintech solutions. Traditional banks have struggled to serve the remote and fragmented agricultural landscape in Latin America. Digital platforms now integrate financial services directly into trading workflows. Smart contracts using blockchain technology automate settlements, reduce counterparty risk, and speed up liquidity. These digital ledgers create a permanent record of ownership and quality, making cross-border transactions more efficient. Additionally, digitizing assets by tokenizing future harvests or storage capacity provides new working capital options for producers, helping them bypass traditional credit barriers and access global liquidity. Sustainability as a Market Access Standard Previously, "green" attributes set companies apart; now, they are essential for market participation. European and North American markets are enforcing strict regulations requiring deforestation-free and low-carbon supply chains. Latin American markets are proactively integrating these standards into their core trading valuation models. Environmental stewardship is becoming commoditized. Trading desks now differentiate between "standard" and "verified sustainable" commodities, with the latter earning significant premiums. Carbon farming is creating dual revenue streams. Producers using regenerative practices such as no-till farming, cover cropping, and integrated crop-livestock systems generate carbon credits traded alongside physical grain. This approach transforms soy or corn fields into carbon sinks, changing the economics of production and trading. Traceability is the technological backbone of this trend. The industry is adopting granular tTraceability is central to this shift. The industry is implementing detailed tracking systems that document a commodity’s journey from seed to port terminal. This transparency ensures compliance with international standards for land use and biodiversity. By verifying the environmental origin of their goods, Latin American traders are securing long-term agreements with premium buyers. The focus has moved from "volume at any cost" to "verified value," where a commodity’s environmental footprint is as important as its nutritional content. This change is positioning the region as a leader in the bio-economy, with exports valued for both their caloric and climate contributions. Infrastructure Modernization and Logistics Optimization For decades, Latin America's significant productive potential was constrained by logistical challenges, including extended distances to ports and dependence on trucking. Today, the focus is on multimodal integration and expanding export corridors to lower costs and accelerate market access. The approach is evolving from simply "fixing roads" to building comprehensive, high-efficiency logistics ecosystems. Significant investments are being directed to the "Northern Arc" and other strategic corridors that reduce transit times to major markets in Asia and Europe. The reliance on road transport is being offset by advances in rail and inland waterways, which provide cleaner and more cost-effective options for moving bulk commodities. These infrastructure projects serve as strategic trade assets, changing the cost structure for commodities. By reducing freight costs to the loading vessel, they directly enhance producer netback prices and the region's competitiveness. Port terminals are also experiencing a technological transformation. Smart ports with automated loading systems and digital customs integration are significantly reducing dwell times. Efficient port logistics are now a key competitive advantage. As vessels increase in size and supply chains become more streamlined, precise and rapid loading of Panamax and Capesize vessels is essential. Integrating logistics data with trading platforms improves inventory management and shipping coordination, reduces demurrage costs, and aligns the physical movement of goods with the pace of digital trade. The future of agricultural commodity trading in Latin America is characterized by greater sophistication and integration. The region is moving beyond its traditional role as a raw material supplier to become a dynamic, technology-driven leader in the global economy. By adopting digital finance, leveraging environmental sustainability, and improving logistics, Latin American markets are establishing new benchmarks for international food trade. These combined trends position the region as both the world’s supermarket and a center for sustainable, efficient, and transparent agricultural commerce. ...Read more