Over 25 years ago, when I had notably fewer grey hairs, I was part of a team that launched one of the pioneering e-commerce shops here in Switzerland for Otto Fischer, an electrical materials distributor. This shift marked a significant change from the existing order-by-fax system that dominated the 1990s.
In this era of disruptive technologies, it is hard to imagine a scenario where enterprises rely on fax machines for critical business operations. Back then, electricians had to submit their orders by noon via fax to receive their materials by 7 a.m. the following day. This process was not only time-consuming but fraught with potential errors due to the manual entry of faxed orders into the ERP system and difficulties in deciphering handwritten numbers—was that a smudged '3' or an '8'?
The events unfolding at Otto Fischer were surprising and may appear counterintuitive to some. And yet, the companies that thrive in the Era of Insight will take a page from Otto Fischer's playbook and learn from their experience. Today, modern businesses face a similar problem regarding the advent of disruptive technologies— in 2024, it is Generative AI!
So how did we navigate this unique scenario at Otto Fischer that provides such valuable, timeless insights for today's businesses navigating disruption? Let's dive in.
Digital Revolution: The Information Age Ends, The Era of Insight Begins
Imagine the improvements to Otto Fischer's business when the advent of the Webshop changed the critical order deadline from noon to 7 p.m? Electricians could submit their orders until evening and still receive their materials by 7 a.m. the following day. The advent of the Webshop was a game-changer in an industry where time is money. However, introducing this disruptive technology at that time created uncertainty and fear among Otto Fischer's employees. The Webshop threatened to replace the manual processes the loyal logistics team handled.
As a family-run business, letting go of these dedicated workers was not an option. Yet, we also recognized the actual value of the logistics team's expertise. Their deep product knowledge and ability to verify orders over the phone have contributed immensely to our strong customer relationships. Rather than simply automating their tasks, we empowered them to use their deep product knowledge and customer relationships to drive growth. By proactively engaging with clients on new products and upsells, they maintained our high-touch service and helped us thrive in a challenging market. The results were nothing short of remarkable.
Otto Fischer not only retained their loyal customer base, but experienced double-digit gains in a depressed real estate market. The deciding factor for this success lies in the ability to view disruptive technology as an opportunity, rather than a threat.
In embracing the fusion of human expertise and innovative technology, we were able to strengthen both our organizational resilience and our customer relationships. The deep product knowledge and personal connections cultivated by the logistics team over decades proved invaluable when combined with the efficiency and insights enabled by new digital capabilities. Rather than simply cutting costs or replacing roles, we elevated our team's capabilities, empowering them to provide even greater value to our customers.
In summary, this scenario represents the optimal intersection of technological progress and human potential - a true win-win where the rising tide of digital transformation lifts all boats. By embracing this mindset, businesses can navigate this timeless challenges of disruption and emerge stronger, smarter and better equipped to thrive in the Era of Insight.
Human-Machine Collaboration: AI and Human Ingenuity
In an era of relentless change, human-machine collaboration is the path forward. Companies that can seamlessly integrate human ingenuity with technological prowess will be the ones to thrive, delivering exceptional results even in the face of adversity.
Fast-forward to 2024: I serve as CEO and Co-founder of Squirro. I see firsthand how digital transformation has accelerated over the past decade as I guide enterprises through the AI-driven revolution.
At Squirro, we focus on empowering human and organizational intelligence to leverage unique strengths-building solid relationships, navigating ambiguity, and making strategic, data-driven decisions.
As I write, Generative AI capabilities are pushing the boundaries of what's possible, extending its reach beyond standard functionalities to encompass high-level processes and redefining business intelligence to be specific problem-solving, personalization, and automation.
The time to have the Generative AI conversation is now in 2024, as Gartner predicts it will be embedded in 80% of conversational AI offerings by 2025, up from just 20% in 2023, reported in Gartner's Emerging Technologies and Trends reports. Companies that leverage human-machine collaboration will be the ones that lead in this new Era of Insight.
Think 2024: An Insight and Autonomization Layer
We offer augmented intelligence solutions, combining search, AI, and knowledge graph technologies to drive better decision-making, customer understanding, and business value.
Emerging technologies present a new business intelligence scenario - imagine an evolved solution where enterprise systems engage in dialogue to tackle business challenges autonomously.
At Squirro, we are at the forefront of this revolution, with our Advanced Automation Layer enabling systems to chat with each other, unlocking unprecedented levels of efficiency and innovation.
Autonomization goes beyond mere automation by incorporating elements of AI, machine learning, and decision-making algorithms to empower systems to make independent decisions based on predefined rules or learn from data.
Let's have a closer look at how this impacts the end user. The best way to understand how this cutting-edge technology works is to ask us for a personal demonstration tailored to your industry.
Here is what is possible in 2024 with our solution:
Fusion of Human Expertise and AI: Where to Start?
As a leading enterprise-approved solution provider, our team of experts is dedicated to helping organizations like yours harness the power of Generative AI. We have a ten-year track record of increasing ROI and competitive advantage for our customers.
We'll show you how Generative AI can revolutionize your operations, from automating repetitive tasks to generating insights that drive strategic decision-making. We offer an in-depth look at how it enhances enterprise use cases with Squirro - a trusted solution provider for leading organizations, including central banks.
Tap into our expertise and leverage our client success cases. Reach out here to get started:
