AIBusiness recently interviewed one of the leading business figures in artificial intelligence, Kalman Tiboldi, Chief Business Innovation Officer at TVH Group. TVH Group are a global distributor of spare-parts and related services for material handling, industrial and agricultural equipment, selling, renting and servicing those.
At The AI Summit in London on 5 May, Kalman will join three fellow AI experts on the Closing Keynote Plenary Panel to discuss the practical challenges of implementing AI in business organisations. The panel will also address the issue of bad publicity and ethical dilemmas behind the development of AI technologies, ultimately answering why we can’t forfeit the future benefits of AI due to concerns and temporary challenges.
As The AI Summit approaches, AIBusiness spoke to Kalman to find out his views on AI’s broad impact on business and his vision for TVH Group specifically, looking ahead to the panel at The AI Summit.
Kalman Tiboldi of TVH Group
- How do you believe AI will impact business overall and in what ways?
Firstly, the ongoing developments in the AI/Smart Machines space are already reshaping industries, enterprises and the way how we interact with computers.
Also, AI can process large volume of data faster, find and correlate patterns, human cannot see and achieve important productivity and efficiency gains for enterprises.
AI-enabled Smart Machines are not just taking better decisions, increasing productivity and efficiency – they are also changing companies’ business models. The emergence of smart, connected products through the IoT is shifting the OEM’s traditional product-centric business model to a new service-centric one.
- What do you think are the main challenges in adopting AI technologies, from machine learning through to image recognition, in business?
There are several technological challenges related to the way we can collect process and analyse high volume real-time data. Building the right architecture, choosing the right tools and partners which can help us to find the most efficient solutions are challenges as well. Some of the technologies like image recognition are still not mature enough to solve complex problems like spar-part recognition.
Identifying appropriate business and IT talents, mixing them in a new type of organisation, building the algorithmic business, and having analytics and algorithms included in the business process are not easy. Creating a data-driven enterprise culture and leadership, including digital ethics on it, and identifying risks generated by algorithm based decision-making are important organisational challenges as well.
- Which AI technologies in particular do you foresee having the greatest impact at TVH Group?
There are several cases where AI can impact our company:
– TVH Parts uses a real-time pricing, using large sets of data, advanced decisions algorithms which allow us to make the best offer for our customers.
– The recognition of the right spare-part customer need for maintenance is important for us. Using image recognition, analysing pictures taken by the service engineer can help us to find the right solution.
– We are supporting 32 different languages in our technical call-centre. AI enabled Intelligent Machine Translation Engines help us to rapidly and correctly answer questions coming from our customers.
– We operate a large fleet of equipment. Connecting those machines, collecting the data produced by the local intelligence, analysing it through a predicative model and taking fast decision allows us to move from a corrective to predicative maintenance model. The same data can help us to build an AI and IoT enabled Intelligent Fleet Management system and Machine assisted Service-Management.
- What are your goals for your AI strategy at TVH Group, both in the short- and long-term?
Some of the components like Pricing Engine, Translation Engine and Connected Machines through an IoT platform are already in place and producing benefits for our company. We would like to extend those and make the algorithmic decision-making more intelligent. Collecting more data, increasing our data storage and processing capability, improving the algorithms, choosing the right technological components and partners which can help us are steps we will take.
Building a new organisation around Information Management with advanced analytics capability, and a mixed IT and business team is on our roadmap as well. We believe that AI will help us to build a strong service-centric business model and allow us to be part of an ecosystem with other players, partnering on the top of data produced by smart equipment.
At The AI Summit, Kalman will join three fellow AI experts on the Closing Keynote Plenary Panel to discuss the practical challenges of implementing AI in business organisations.
The AI Summit is the world’s first event dedicated to Artificial Intelligence for the business world. For more information, and to join us on 5 May at the Four Seasons Hotel, London, visit: theaisummit.com