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Home » Companies investing in AI: An industry perspective
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Companies investing in AI: An industry perspective

adminBy adminFebruary 22, 2024No Comments6 Mins Read1 Views
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A businessman operates a virtual chip inscribed with AI.A businessman operates a virtual chip inscribed with AI.
Image: Shutter2U/Adobe Stock

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Artificial intelligence (AI) is reshaping business operations, from network troubleshooting and cybersecurity to customer service and communications. As investments in AI reach new heights, organizations must weigh the benefits against cost, environmental impact, ethical concerns, and implementation challenges.

World Wide Technology (WWT), a global systems integrator, recently hosted a technology talk with leaders from Cisco, Intel, and NetApp to discuss important considerations when implementing AI in your business. They explored various AI investment options and outlined an effective AI investment strategy. This includes how to address the AI ​​skills gap and tactics for incorporating security and sustainability into your AI strategy. Below are key takeaways from that discussion.

Transform operations and strengthen security/privacy with AI investments

Artificial intelligence has a significant impact on operational efficiency and security, and its applications are wide-ranging. Cisco leverages AI for security through predictive analytics and pattern recognition. This application of AI enables Cisco to proactively identify potential cyber threats before they can cause harm. Cisco's AI-driven security approach reduces response times and improves threat mitigation in networking by analyzing data patterns and detecting anomalies.

NetApp is focused on the ethical use and deployment of AI to improve security, especially in protecting intellectual property (IP) and sensitive data. The company has developed its own secure version and prohibits the use of publicly generated AI services within its internal network. This ensures that NetApp's data and that of its clients are protected.

“When I look at Twitter, Facebook, and Instagram, I worry that AI will be weaponized,” said Paras Kikani, senior director of solutions engineering at NetApp. “Therefore, we must take responsibility and ensure that we not only implement AI in the right way, but also protect ourselves at the same time. you can't.”

Intel works with partners to develop large-scale, domain-specific language models tailored to specific industries such as finance, healthcare, and manufacturing. The goal is to make AI intuitive and actionable, focusing on real-world problems and areas where customers truly need solutions.

For example, Boston Consulting Group (BCG) and Intel partnered to create an AI model trained on BCG's more than 50 years of confidential data. BCG employees can now use chatbots powered by Intel AI hardware and software to capture and summarize information that was previously difficult to find, all while maintaining data privacy.

Cisco is also cautious and advises against using public generative AI services. For example, Cisco has its own internal AI platform that leverages Microsoft's Azure AI capabilities. This reflects a broader trend that Cisco has observed among its customers. Financial services companies tend to be cautious about AI, while manufacturing is more open to it. Cisco believes it is essential to provide employees with viable and safe alternatives to public AI tools.

“We can't say no,” said Eric Knipp, Cisco's vice president of systems engineering for the Americas. “Just like with security, if you make it difficult, they'll find a way around it. Instead of giving them tools they can use, backed by their own internal policies.”

To see more discussion on AI investments from technology leaders, visit our WWT page.

Sustainability and cost considerations in AI deployment

Industry leaders are acutely aware of the sustainability challenges, especially the high energy consumption associated with generative AI. In an era where there is a trend to reduce power usage and build smaller hybrid environments, more floor space and cooling are needed.

Organizations run the risk of getting too excited about investing in AI and deploying it without fully understanding its purpose and environmental impact. Therefore, AI investment strategies must consider sustainability and cost efficiency.

“GenAI is not exactly a green technology. ChatGPT search requires about 100 times more power than a regular Google search. We need to be aware of the potential impact of that,” Knipp said.

Implementing AI is expensive because it requires high-end graphics processing units (GPUs), high-performance storage, and extensive datasets. Balancing these costs puts additional strain on already tight IT budgets. According to Kikani, AI has proven its value in “supporting the core business” by generating revenue, driving growth, mitigating risk, reducing costs and optimizing resource usage. need to do it. It is important to have a thorough understanding of AI, including its intended purpose and how to use it most efficiently, effectively, responsibly and safely.

“Everyone is so obsessed with AI that we're moving ahead without really understanding what it is. It's a tool. It's a hammer, it's a nail. It's not going to replace everything. ,” said Travis Palena, global channel sales director for data center and AI at Intel.

Future workforce: closing the skills gap

As evidenced by recent layoffs at major technology companies, people who have worked in specific roles for years must adapt to new demands and technologies. Cisco, Intel, and NetApp recognize the need across the industry for apprenticeship programs, internships, and education initiatives to help develop the next generation of tech-savvy professionals.

For example, NetApp has a program called the Sales, Support, and Services (S3) Academy, which provides training to recent college graduates and those with several years of experience. However, NetApp also recognizes the importance of continuous learning for mid-career professionals to succeed in today's fast-paced technology world.

“Our corporate responsibility requires us to build programs that support not only early-career individuals, but also those who have been in the industry for five to 10 years and haven't had the opportunity to learn new things,” Kikani said. Stated.

Cisco is approaching the skills gap by leveraging its existing Network Academy program to hire people who don't have a four-year degree but can learn relevant technical skills. This initiative reflects a broader perspective on talent acquisition and the value of looking beyond the traditional four-year degree holder. The Department of Defense's SkillBridge is one example of a program that helps veterans transition into corporate jobs. Cisco has so far recruited more than 120 military veterans through this program.

Conclusion: Invest in AI

Decisions about investing in AI are complex and difficult. However, by focusing on young talent, non-traditional talent pools, and veterans, organizations can expand their recruitment strategies and invest in their current workforce to meet the challenges of rapidly evolving technologies such as AI. You will have the opportunity to.



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