Published on October 19, 2023, 3:13 pm
Artificial intelligence (AI) has become more than just a buzzword in recent years. At Community Summit North America 2023, Microsoft executive Alfredo Ramirez emphasized the importance of AI and how it is transforming the way businesses operate. Ramirez, vice president of business applications at Microsoft, defined an intelligent system as one that reasons over data, with large language models (LLMs) playing a critical role in this process.
LLMs allow AI models to analyze and summarize vast amounts of unstructured data from various sources such as emails, customer reviews, and blog posts. This enables businesses to gain valuable insights and context from the information they have at their disposal. However, there is a challenge in managing and analyzing this wealth of data efficiently. A Korn Ferry study highlighted by Ramirez revealed that there will be up to 85 million unfilled jobs due to skills shortages in data-related tasks by 2030.
To leverage AI effectively, organizations need to make use of cloud infrastructure for scalable data storage and computing capabilities. It is also essential to assess their readiness by evaluating their current data architecture and ensuring they have the right people with the necessary skills. Starting with small pilot projects or prototypes allows businesses to explore the potential benefits of AI without overwhelming their resources.
Ramirez concluded his session by emphasizing that the rise of cloud technology and advancements in foundational AI models present a once-in-a-lifetime opportunity for businesses to transform themselves through AI-driven innovations.
An example cited by Ramirez further demonstrates how generative AI can revolutionize business processes. CarMax, an automotive retailer, has utilized generative AI technology to automate 80% of its content development processes. This automation has significantly reduced the time required to deliver content that car buyers can use for research purposes.
In addition to discussions on AI, Community Summit also featured keynote speaker Julia Landauer, a NASCAR racer and STEM advocate. Landauer shared insights from her career in motor sports and highlighted three important life lessons. She emphasized taking responsibility for one’s life, owning one’s identity, and embracing discomfort in pursuit of dreams.
Other notable highlights from the Summit included Microsoft’s plans to implement Azure availability zone redundancy for all its Dynamics and Power Platform production zones. This move ensures continued service even in the event of a failure in one zone. Microsoft partners RSM and Velosio presented use cases demonstrating how generative AI can enhance processes, such as grant management and sustainable practices.
Community Summit North America 2023 showcased the emerging role of cloud technology, generative AI, and data-driven solutions in driving performance and innovation across various industries. It reinforced the need for businesses to embrace AI technologies to stay competitive in today’s digital landscape.
For more information about this event, you can visit [source link].