When it comes to digital transformation, the Covid pandemic has taught corporate executives many valuable lessons. The potential for data analytics and artificial intelligence to revolutionize many industries is one of the most striking takeaways. According to studies, the pandemic has boosted the adoption of analytics and AI; the same studies expect this trend will continue into the 2020s. According to a PwC survey, the Covid problem has expedited 52 percent of firms' AI deployment plans. Almost everyone, 86 percent, believes AI will be a "core technology" in their company by 2021. According to Harris Poll, 55 percent of organizations said they increased their AI strategy in 2020 as a result of Covid and 67 percent expect to accelerate their AI strategy even more in 2021. Since the start of the pandemic, CEOs have been becoming more aware of what AI can do, and how they can leverage big data to their advantage. In this article, we analyze a conversation with serial entrepreneur David Leica and discuss how business leaders are adopting new and innovative technologies.
David – CEO of Logistic One Ltd, a large logistics firm headquartered in Warren, MI, is leading efforts to develop a software-based shipping brokerage application. This will enable shipping companies to bid on contracts, closing the gap on market inefficiencies by simultaneously filling orders for the customer, and logistics firms. Most recently though, David has branched out into other areas of emerging technologies, such as blockchains and artificial intelligence. The advent of blockchain technology by Satoshi Nakamoto in 2009 changed mankind forever. Meanwhile, the adoption of artificial intelligence in the workplace is becoming more prevalent every day. Let’s hear from David, who believes the future involves a convergence of these two powerful technologies.
What excites you most about Blockchain technology?
“There are a few key components of Blockchain that make the technology so important.
The first thing that comes to mind is transparency. We can verify the transfer of any assets securely, enabling people to own their identity and personal data with cryptographic security. All while cutting out bureaucracy, potential corruption, and middlemen.
Blockchain technology has created an entirely new financial ecosystem, allowing anyone to send money anywhere in the world almost instantly. I think in the future, mainstream adoption of Blockchain technology is inevitable.”
How are you adopting AI in your ventures?
“Yeah, you know, I love this question. It’s funny because AI is already so integrated into our everyday lives and we don’t even think about it. Our drivers use Waze to navigate around the country, this is AI. Even the auto-complete on text messages & emails is AI. More specifically though, we use AI to assist in closing deals, projecting revenue/expenses, reading documents + extracting data, predicting anomalies. Really any process with consistent data can be automated with the help of AI.”
Describe the intersection of AI & Blockchain?
“There are some fascinating innovations taking place right now that I am very excited about. Currently, AI is a centralized technology. Basically what this means is that AI is not accessible to everyone. Blockchain technology is a decentralized technology, meaning it is accessible to everyone. There’s this startup I joined recently, Dojo AI, which is bridging this gap and decentralizing access to AI. Allowing anyone to create AI with no code, as well as providing ownership of the AI via the Ethereum blockchain.”
Why haven’t we seen mass AI adoption already?
“I think the reason AI hasn’t fully taken over the workforce is because of trust. People do not trust AI, the way they trust other humans. This is funny because AI is a science based on mathematical evidence. Another interesting thing about AI is we can actually quantify its competence, with an accuracy score. Obviously, this cannot be done with humans. I believe that as people become more conscious of how intertwined AI is in our daily lives, adoption in the corporate workforce will increase."