The Rationale for Getting into AI/ML
For me, personally, it was because pricing, revenue management and the scope of commercial operations was changing with the advent of the IoT and (mobile) connectivity. It has transformed how customers and companies search for services, solutions, and how they want to be sold to. Relevant, inspiring, and personalized offers that are attractive based on requirements at that time, for a specific purpose.
While Revenue Management traditionally made derived assumptions about the market, the wealth of new information and data that can be accessed and generated online has spurred MarTech, SalesTech and requires RM to change to move from a closed environment to contextual analysis and optimization, in real time, built around many more dimensions and attributes of prospective customers.
So I decided to get specialized further and went through training, formal education and learned from the best at Google, Amazon and at MIT in Cambridge, MA, USA. I am now qualified to share and bring additional skills to the same industry and domains, but in a modernized world, with a new generation of professionals. But I realized I bring a lot of value to executives that want me to be the bridge between business management and data science, ML, and automation (AI).
When one looks at each customer and their preferences in each unique context, the technology to use these insights properly has to be much more advanced. Humans or conventional RM systems cannot handle this without modernization through the help of machine learning (ML) and artificial intelligence (AI). There are too many dimensions, (hidden) layers, attributes, and different contexts to compare in order to make the best decisions. This can only be done quickly and in real-time with modern machine learning. Automating it through AI requires careful infusion of ML-based output and the execution of a business process that achieves the goals set through AI using end models (that combine the tasks and automate them).
Experience in Transforming Industries
Digital technologies bring with them opportunities and challenges. Opportunities include increased sales through greater customer loyalty, speed to market and incredible customer insight. Many challenges presented by 'going digital' center around the scarcity and cost of qualified professionals, and the piecemeal approach taken by many service providers or software packages. I take a holistic approach with clients where we begin with the current business processes, reiterating the goals, prioritizing use cases, taking user perspectives, creating compelling solutions and manage and evolve these solutions so that they work cohesively for the organization, managers, the processes they supervise and the workings of the technology.