By Valeria Ruiz, Opus Connect
The Opus Connect CEOs/Founders Roundtables always bring us a wealth of insights from people who move critical industries, from the ground. The OC Technology CEOs/Founders Roundtable held in May was another such opportunity that brought together leading minds to explore the evolving technology landscape. Moderated by Mariya Pylypiv Director & President at Maven Execs and Jack Isaacs Managing Director at Empower Growth Capital, the discussion delved into critical themes like digital transformation, integration of AI into processes, and ensuring data security, which are shaping the industry.
Balancing AI with human expertise
Given that it´s one of the biggest technological disruptions of the decade, it was not surprising that a recurring topic was the transformative potential of Artificial Intelligence in various sectors. With a variety of applications of natural language processing, machine learning, and data analysis spurring innovative technology across industries, many of the participants spoke of the game-changing potential of AI.
They also highlighted the advantages of integrating AI into business operations for automating rote tasks, particularly in legal services, where AI tools streamline processes like document processing and contract management.
However, they emphasized that high-stakes negotiations still demand human expertise. The conversation underscored the need for professionals to adapt and leverage AI effectively, ensuring it complements rather than replaces human judgment.
Technology adoption in mid-sized companies
While technology is being developed at incredible speed, the roundtable also addressed the significant challenges of technology adoption at the client level. Despite tech advancements, many mid-sized and large companies are reluctant to integrate new digital tools and technologies into their internal systems.
This gap is often due to resistance to change and the practical complexities of implementing digital transformation strategies at scale. The discussion put a spotlight on the fact that successful technology adoption requires a thorough assessment of business processes, highlighting the importance of a tailored approach to digital transformation. Businesses need to understand their own optimization and efficiency needs, to make strategic decisions that can yield a real competitive advantage from adopting new solutions and digital tools.
Surprisingly, it´s more traditional sectors and industries that are leading the adoption of new tech. The roundtable discussed how industries like manufacturing and wholesale are gradually incorporating AI and automation to enhance efficiency. Participants shared success stories of businesses that have adopted these technologies to streamline operations, reduce costs, and improve productivity. The conversation underscored the critical role of continuous optimization and the necessity for businesses to remain agile in the face of technological advancements.
Data security and ethical use in digital transformation
While the success of innovation in technology should be celebrated, the risk these technologies pose to privacy and data needs to be taken seriously and protected against. That is why, data security and the ethical use of technology were also pivotal points of discussion at the roundtable.
As industries become more reliant on data-driven technologies, and integrate multiple data points into the customer journey, ensuring the security and integrity of this data has become paramount. Participants expressed concerns about the proliferation of data and the need for robust cybersecurity measures to protect sensitive information. The participants unanimously agreed that businesses need to take an integrated approach to balance customer experience with ethical data protection measures. They highlighted the importance of developing secure systems that can handle vast amounts of data without compromising performance or security.
Preparing for the future
The roundtable concluded with a look at the future of technology adoption. Participants agreed that the key to navigating the technology landscape lies in embracing change and fostering a culture of continuous learning. By staying ahead of technological trends and investing in the right tools and training, businesses can position themselves for success in an increasingly digital world.
The Opus Connect Technology CEOs/Founders Roundtable provided valuable insights into the challenges and opportunities of digital transformation. It highlighted the critical role of AI, the importance of tailored technology adoption strategies, and the necessity of robust data security measures. As the technology landscape continues to evolve, businesses must remain agile, continuously optimize their processes, and embrace the transformative potential of new technologies.
Join us at our upcoming event to be part of these engaging conversations! Check out our calendar here or contact us for more information at valeria@opusconnect.com
