In an era where Artificial Intelligence (AI) is rapidly evolving, understanding its trajectory and impact across industries is crucial.
We had the privilege of interviewing Cosma Nouschirvan, an alumna of EADA’s Master in International Management, class of 2020, and currently a Manager at PwC in the area of Marketing Technology, involved in AI implementation projects. Cosma’s insights offer a valuable perspective on the current state of AI, its applications, and how leading firms like PriceWaterhouseCoopers (PwC) are staying at the forefront of technological advancements.
A.I. seems to be continually growing more efficient, what is the state of AI growth currently? Is it at a point of continuous exponential growth or is entering more of a plateau?
The current state of Gen-AI growth is characterized by both rapid advancements and emerging challenges. Significant improvements in model capabilities, hardware efficiency, and algorithmic innovations are driving exponential progress in many areas. The robust growth in Gen-AI is further indicated by the increasing research output, substantial investments and expanding applications across industries such as healthcare and finance. However, challenges such as data limitations, ethical and regulatory concerns, and high resource demands could potentially slow this progression. While many experts remain optimistic about continued exponential growth, there is also caution that AI development may encounter plateaus as it addresses these complex issues (see news today from aleph alpha). Overall, the future of AI is likely to feature a dynamic landscape with periods of rapid progress punctuated by phases of consolidation and addressing challenges.
What do you currently see as the most exciting applications and advancements of AI in your industry?
In the marketing technology industry, Gen-AI is driving significant advancements and applications that are transforming how businesses engage with their customers. Key areas include advanced customer insights and analytics, where AI enables predictive analytics and precise customer segmentation to tailor marketing strategies. Personalization and customer experience are enhanced through personalized recommendations and dynamic content that adapts to user behavior in real-time. Marketing automation benefits from AI through automated campaign management and email marketing optimization, saving time while maximizing effectiveness. Customer engagement and support are improved with AI-powered chatbots and sentiment analysis, providing 24/7 assistance and gauging public sentiment. In advertising, programmatic advertising and ad performance prediction allow for real-time ad placements and proactive strategy adjustments. Gen-AI also aids in content creation and curation, generating high-quality content and curating relevant materials for specific audiences. Additionally, AI optimizes the customer journey and retention strategies through predictive models and personalized loyalty programs. Visual recognition technologies like visual search and AR/VR enhance the shopping experience and product visualization. Overall, AI is making marketing more efficient, personalized, and effective, driving significant business growth.
Given its global prominence and vast clientele, how does PwC manage to stay on the forefront of AI usage and advanced technology?
We at PwC maintain our leadership in AI and advanced technology through a multi-faceted approach that includes strategic investments, partnerships with science departments at institutions such as Stanford, MIT, Carnegie Mellon, innovation initiatives, and a focus on talent acquisition and development. PwC invests in AI startups and technology companies, and partners with tech giants like AWS, Google, Microsoft Azure, and Salesforce, OpenAI to integrate the latest advancements into its services. Furthermore, we also operate innovation labs and centers of excellence globally to explore emerging technologies and develop new AI solutions. PwC also hires top talent in AI and data science and provides continuous training to keep the workforce skilled in the latest tech trends. Additionally, PwC emphasizes ethical AI use and regulatory compliance, ensuring responsible deployment of AI technologies. By developing customized AI solutions and maintaining thought leadership through research publications and industry participation, PwC stays at the cutting edge of AI and technology trends.
In your time at PwC what are the biggest advancements and benefits AI has contributed directly to your work? And where do you see it leading to in the next 5-10 years?
AI has greatly enhanced my work in terms of enhanced operational excellence and efficiency. Using AI-driven tools has led to the automation of repetitive tasks, time savings and error reduction. Furthermore, AI has greatly enhanced data analysis through automated processing and predictive analytics, leading to better decision-making. AI has also enabled personalized client solutions, among other things allowing us to evaluate custom metrics, such as AI-based Lead Scores. Looking ahead, AI will advance predictive analytics, decision support, and automation. Ethical AI use and integration with emerging technologies like IoT and blockchain will further enhance PwC’s service offerings and sustainability practices in the next 5-10 years.
What emerging trends in AI do you think will have the most significant impact on consulting services?
Consulting services will be transformed by emerging AI trends including intelligent automation that combines AI with Robotic Process Automation for complex tasks and efficiency, and enhanced data analytics offering predictive and prescriptive insights for informed decision-making. Moreover, AI-driven personalization provides tailored consulting services, improving client engagement and satisfaction. Additionally, explainable AI ensures transparency and trust, while Natural Language Processing advancements streamline report generation and sentiment analysis. These trends collectively enhance consulting services by offering deeper insights, increased efficiency, and more strategic recommendations.
How do you measure the success of an AI implementation project?
Measuring the success of an AI implementation project involves evaluating various factors to ensure it meets objectives and delivers value. Firstly, alignment with business objectives is crucial, assessing whether the AI project supports strategic goals like improving efficiency, reducing costs, or increasing revenue. Then performance metrics like accuracy, precision, and error rates need to be addressed to evaluate the model’s effectiveness and Return on Investment needs to be considered to determine financial benefits, including cost savings and revenue increases. Next, user adoption and satisfaction should be gauged through feedback and adoption rates to ensure the solution is user-friendly. Operational efficiency metrics, such as time savings and productivity gains also need to be considered when measuring the success of an AI implementation to assess workflow improvements. And finally, scalability and flexibility need to be evaluated to ensure the AI solution can handle increased workloads and adapt to evolving business needs.
Conclusion
The field of AI is poised for continued rapid growth, driven by technological advancements and innovative applications. As companies like PwC demonstrate, staying ahead in AI requires a commitment to strategic investment, continuous learning, and ethical practices.
For those looking to lead in this exciting arena, EADA’s International Master in AI for Business offers a robust foundation for future success.