Intuit, a prominent business software giant, embarked on its venture into emerging opportunities nearly a decade ago. The journey commenced with what was termed “classic AI,” encompassing machine learning, natural language processing, and the development of recommendation systems. Prior to the notable launch of ChatGPT a year ago, Intuit had also delved into investments in generativeAI.
Approximately six years ago, Ashok Srivastava assumed the role of chief information officer at Intuit, entrusted with the task of establishing a secondary AI, information, and analytics capability company-wide. Intuit caters to a vast customer base of 100 million individuals through platforms such as TurboTax and QuickBooks.
Srivastava emphasized the collaborative nature of decision-making within Intuit, stating, “I am the ultimate decision-maker, but I do so in partnership with our team, CEO, and CTO.” His oversight of AI facilitates the swift implementation of clear insights.
A survey conducted by McKinsey revealed that 40% of businesses intend to expand their AI initiatives following advancements in generativeAI. The global economic output stands to potentially increase by up to \(4.4 trillion annually, thanks to generativeAI. Notably, the United Kingdom, ranking as the sixth-largest regional economy globally, boasted a GDP of \)3.1 trillion the following year.
The responsibility for the implementation and deployment of AI, when likened to historical milestones like the industrial revolution or the advent of the internet, remains a complex issue. Jeetu Patel, the Executive Vice President of Collaboration and Security at Cisco Systems-owned Webex, advocates for a governance framework led by the CEO and management team. The CEO’s oversight extends to the direct reports within the organization. Business owners are advised to carefully consider the impact of AI on their products and daily operations, acknowledging both the positive and negative aspects.
Fortune highlighted a functionality that enables real-time translation of meetings into 120 different languages during discussions with Patel via Webex, showcasing AI’s role in enhancing efficiency.
Webex and Cisco have integrated two facets of AI, enabling internal experimentation with AI tools. The ongoing Phase 2 encourages individuals to focus on leveraging these resources for productivity enhancements.
Patel, who has invested billions in AI over the past decade, asserts that there is no such concept as excessive engagement with AI. The ongoing paradigm shift is arguably one of the most significant transformations in human history.
ADM, a major player in meal production, shares a resolute commitment to AI. According to Jason Reynolds, the head of ADM’s Innovation and Analytics, the impetus originates from the CEO and executive committee, all displaying a keen interest in leveraging AI. Reynolds lauds generativeAI for its innate user-friendliness, particularly for non-technical users.
To garner support from top management for tech investments, Reynolds emphasizes the necessity of presenting a compelling case. Despite varying perspectives and enthusiasm surrounding AI’s potential, the technology has found significant applications within crucial areas such as protein research, aiding in rapid response to evolving consumer preferences.
Akamai Technologies, a sky services provider, adopts a decentralized approach towards AI implementation. Dr. Robert Blumofe, the Chief Technology Officer at Akamai, advocates for a bottom-up approach that empowers autonomous decision-making within the organization to address challenges and explore innovative technological solutions.
UKG, a human resource management firm, follows a similar collaborative approach. Hugo Sarrazin, UKG’s General Manager of Product and Technology, underscores the importance of unity in their approach. Leveraging AI designs since 2015, UKG currently utilizes over 2,500 forecast AI models to streamline tasks such as payroll assessments and shift scheduling.
An oversight leadership group at UKG, comprising diverse perspectives from Sarrazin’s team, Human Resources, Legal, and others, ensures the ethical and transparent use of AI. Policies are communicated clearly to employees, including recent directives to avoid sharing company data in ChatGPT.
To foster technological innovation, UKG organizes conceptual AI hackathons every quarter, attracting over 1,000 participants to brainstorm solutions for specific company challenges within a 48-hour timeframe.
Juniper Networks, a provider of network and security products, acquired Mist Systems, an AI-driven platform enhancing Wi-Fi predictability, for $405 million in 2019. Sharon Mandell, the Chief Knowledge Officer at Juniper Networks, highlights the company’s strategic evaluation of AI to uphold ethical standards, data privacy, and intellectual property protection.
Juniper’s approach to AI discussions has evolved, transitioning to a more structured framework over the past two years. The company swiftly publicized its guiding AI principles following inquiries from external investor groups. Mandell underscores the pivotal role of Raj Yavatkar, Juniper’s CTO, in AI governance, with ultimate accountability resting on the CEO.
Adobe, a software developer, has instituted an AI ethics committee tasked with establishing and enforcing responsible AI standards, vetoing any AI capabilities with potential adverse effects. Dana Rao, Adobe’s Chief Trust Officer, oversees this critical function.
Adobe’s AI tool, Adobe Firefly, has leveraged conceptual AI to generate over 3.5 billion images since its launch, prioritizing ethical use and safeguarding intellectual property. The ethics committee rigorously tested the tool, with internal teams conducting further experiments to ensure compliance.
Nationwide, an insurance company, has integrated AI models for decision-making and predictive analytics for several years. The establishment of an Office of Enterprise Analytics in 2018 centralized the most complex decision models, with a dedicated facility within Nationwide facilitating widespread implementation. Jim Fowler, Nationwide’s CTO, collaborates closely with a General Analytics Officer to guide scientific and software development teams.
Nationwide’s proactive stance on AI adoption led to the formation of an executive-level steering committee post-ChatGPT launch. This committee, comprising representatives from all organizational levels, steers the identification and pursuit of impactful AI use cases. The company is currently advancing 15 active use cases, employing a structured approach with red and blue teams to address risks and explore AI’s transformative potential.
Fowler anticipates AI’s disruptive impact on the insurance industry, prompting Nationwide to prioritize real-world business use cases that could catalyze significant industry shifts.
