Procurement Rebecca Smith · 4 September 2015
The advantages and threats of artificial intelligence for small businesses
Frank Lansink, European CEO of IPsoft, sat down with Business Advice to give an insight into the world of artificial intelligence (AI) explaining how the modern day business environment means small businesses are able to harness technology at a much early stage, and where the advantages of breaking boundaries lies. (1) Tell me a bit about your role and background? Im the European CEO of artificial intelligence and automation specialist, IPsoft. I look after the European activities in a business and operational capacity and focus a large part of my time on our European growth strategy and expansion plans. Before joining IPsoft, I was an entrepreneur for 13 years, during which time I founded, built and invested in anumber of tech companies. I enjoyed a short stint in corporate finance before meeting Chetan Dube (CEO and founder of IPsoft) and moving into this role eight years ago. (2) What does IPsoft offer and which businesses has it had the biggest impact on? IPsoft started out as an IT managed automation company, today supplying automation solutions for two thirds of all Global 2000 businesses. Because of this and the 30 per cent decrease in operational costs it brought to businesses it’s where the core business focus and greatest impact has been. However, the launch of Amelia, our groundbreaking knowledge worker, last year has seen the business branch out into artificial intelligence to help businesses increase efficiencies, lower costs and remove the repetitive tasks from daily life. By doing so, workers can enjoy more creative and value added roles, while focusing on the businesses strategy instead of mundane or manual tasks. Amelia has now been deployed with its first eight customers and is starting to demonstrate not only bottom line efficiencies but also top line growth. (3) In what ways could AI be a threat to small businesses and in what ways could it be an advantage? One of the biggest advantages for businesses, especially SMEs, is that each are able to’scale rapidly without the usual, sometimes crippling, costs. Technology has allowed for the removal of traditional barriers and it is now easier than ever to start a business and scale up incredibly quickly. New entrants to the market can leverage AI from every angle and become a huge success and threat to others almost overnight. Uber and Airbnb are prime examples of this, demonstrating just how cloud and app based businesses with relatively low investment can grow into successful global enterprises. Because of this, it’s vital that businesses continue to innovate and break boundaries when it comes to embracing tech, especially AI, as the risk that comes from not adopting it is far higher than for those who embrace it. Every business that can be digitalised is going to be impacted by AI in one way or another. Put quite simply, if you’re not capable of changing your business at the same speed of the rest of the world, then you’re doomed. For businesses to grow, those leading them must be able to adopt and adjust; the greatest gains will be seen by those who embrace and harness the power of new technologies.
ABOUT THE EXPERTRebecca Smith
Rebecca is a reporter for Business Advice. Prior to this, she worked with a range of tech, advertising, media and digital clients at Propeller PR and did freelance work for The Telegraph.