Corporate news Cobepa

07 Jun '24

Cobepa Organises Summit on Artificial Intelligence

Artificial Intelligence (AI) often stands at the intersection of promise and uncertainty for many businesses. In a quest to better understand AI, its uses and its appropriate implementation in businesses, we organized a CEO Summit where leaders and executive teams from our portfolio could learn and exchange insights about AI.

Illuminating AI’s Role on Modern Businesses

Across a series of thought-provoking keynotes and workshops, the retreat, branded “AI’SLAND” aimed to unpack AI’s potential. From understanding the fundamental principles of AI to delving into strategies for AI integration, we delved into the basics and the specifics of AI.

Fostering Collaborative Innovation

A hallmark of the summit was the vibrant collaboration among the attendees. CEOs and their executive teams, Cobepa Directors and team members engaged in open dialogues, sharing their experiences and exploring strategies for integrating AI into their business frameworks. This collective brainstorming not only sparked innovative ideas but also strengthened the network within our portfolio, creating a supportive ecosystem for AI adoption.

Key Learnings

Reflecting on the summit we identified several key insights:  

  1. AI can be smart and complex, but not always useful or valuable: AI models can be very advanced, generating precise insights and solutions, but these need to be relevant to the business context and challenges to provide real value. Its most impactful use comes from rethinking (existing) products and services that create a competitive advantage for businesses, rather than getting distracted by the AI hype.
  2. AI can be generic, yet also specific: While there are many generic, “off-the-shelf” AI tools that can be used by any company, AI solutions can also be developed in-house, addressing businesses’ specific needs and opportunities. The differentiation does not come from the tools themselves but from the unique ways in which they are employed to enhance a company’s specific capabilities and achieve strategic objectives.
  3. AI evolves rapidly, yet requires thoughtful and meaningful implementation: Although AI's rapid advancement invites curiosity and experimentation, its deployment must be carefully aligned with clear business objectives. A measured and pragmatic approach ensures that AI's benefits are fully realized and boosts employee buy-in by demonstrating tangible value and strategic fit.

Conclusion: Data's in the Detail

The AI journey is far from static. Technologies tend to reinforce the distance between the best players and all the others. They don't narrow it. And it can take a long time to close a technology gap. As illuminated in our CEO Summit, understanding and implementing AI goes beyond simply adopting the latest tools. It requires a deep dive into the details of how AI can be strategically applied to address unique business challenges and opportunities. AI's true power lies in the nuanced application of data to derive actionable insights and drive innovation, not merely in the accumulation of data itself. By focusing on these details and integrating AI thoughtfully, companies can set themselves apart and secure a lasting competitive advantage in an increasingly data-driven world.