Artificial Intelligence at Hanken’s International Alumni Day

The application of data and in extension technologies for artificial intelligence will be a deciding factor when it comes to which companies will still be in existence in five or ten years. This was  Emma Storbacka’s, CEO at Avaus, opening statement at Hanken’s international alumni day in Stockholm.

“The current development and all that has happened during the last 20 years shows that the strongest and most innovative companies survive”, says Storbacka.

When Emma Storbacka speaks about artificial intelligence for the growth agenda, she refers to sales, marketing and customer experience. A most of the companies considered as the largest fifteen years ago no longer exist, and this is because digitalisation has caused a change in business models and in customer expectations.

“This development will become even faster in the future. Everything involving data is happening at exponential rates and you need to be competitive to be part of it”, says Storbacka.

Companies clearly benefit from artificial intelligence and machine learning, as computers learn without being programmed to do so. For many this is difficult to comprehend as artificial intelligence in very abstract and complex. Storbacka gives a concrete example of where you can start: pull data, analyse it and act on it.

“For most people this is easy to do as all companies that send out invoices have adequate data for calculating which client will grow, as well as what they should buy next. This is a really easy example of where to start”, concludes Storbacka.

PHOTOS: MAJA BRAND

This is a shortened translation of an article from the Hanken Magazine. For the full article, please read the Swedish version of this text. You can read the magazine online here.