Unlocking AI’s Real-World Impact: An EXL Webinar Exploration

AI has become a central force driving business success, with the majority of companies either utilizing or exploring its potential to enhance operations. This was the main takeaway from the recent AI in Action: Driving Business Impact at Scale with Data and AI webinar, where industry experts gathered to emphasize the shift from theoretical discussions around AI to its practical implementation. Hosted by iTnews and powered by EXL, the event featured insights from prominent figures like Shanker Trivedi, Senior Vice President of Enterprise Business at NVIDIA, Vishal Chhibbar, EXL's Executive Vice President and Chief Growth and Strategy Officer, and Philip Dalidakis, former Victorian Minister for Trade, Innovation & the Digital Economy.

The webinar focused on how the business landscape has fundamentally changed, particularly following the pandemic, which accelerated the adoption of digital technologies like AI. According to Dalidakis, this rapid shift has made AI an integral part of the "new normal," fundamentally altering how businesses operate, compete, and engage with customers. Companies can no longer afford to treat AI as a futuristic concept; instead, they must integrate it into everyday operations to remain relevant. Dalidakis highlighted the role of AI in enabling businesses to make faster, data-driven decisions, optimize internal processes, and personalize customer interactions on a larger scale.

While AI holds immense promise, Dalidakis also cautioned that its adoption must be approached ethically. He stressed the importance of transparency, fairness, and accountability in AI systems to build trust with customers and stakeholders. Businesses must not only embrace the opportunities AI presents but also manage the risks involved by ensuring that ethical standards are maintained. Dalidakis framed the new AI-driven landscape as not only about leveraging technology but also about shaping a future where AI contributes to business value without compromising ethical principles.

Adding to this, Vishal Chhibbar of EXL discussed the current gap between the excitement surrounding AI and its actual deployment in business settings. While many companies are enthusiastic about AI’s potential, fewer have figured out how to implement it effectively. Chhibbar stressed the importance of moving beyond theoretical discussions and focusing on tangible action. This theme was central to the webinar’s focus on practical, actionable insights. Rohit Kapoor, EXL’s CEO, expanded on this by sharing how EXL has integrated AI into its business processes. The company has developed over 150 AI use cases across various industries, generating significant business outcomes. Kapoor emphasized that achieving these outcomes requires combining strong domain expertise, effective data management, and advanced AI capabilities.

Kapoor also pointed out that businesses must prioritize organizing their data infrastructure as a first step toward maximizing AI’s potential, particularly with generative AI. Without proper data management, companies cannot fully leverage the power of AI to drive real-world results. The importance of data as the foundation of successful AI implementation was a recurring theme throughout the event, underscoring its role in enabling businesses to harness AI effectively.

A major topic of discussion during the event was the evolution of generative AI (Gen AI), particularly its ability to process and understand language. Tim Johnson, Suncorp Group’s Head of Automation, referred to this shift as a transformative moment for AI. He described language as the "new oil," highlighting how AI’s ability to interpret and act on language has improved significantly. For industries like insurance, where AI has already been a key player for years, Gen AI’s advancements in language processing represent a game-changer. Johnson stressed that while Gen AI is a powerful tool, it should be integrated with other technologies to maximize its business potential.

Johnson further explained Suncorp’s approach to implementing Gen AI, which includes maintaining human oversight in AI-driven processes. This approach ensures that AI augments decision-making without removing the human element, particularly in tasks like predictive analysis and customer engagement. While acknowledging the ongoing hype surrounding AI, Johnson expressed confidence in Gen AI’s staying power, noting that its core capabilities—especially in language understanding—reveal its true transformative potential.

Throughout the event, speakers emphasized that AI is no longer a speculative technology; it is a practical, essential tool for businesses to navigate today’s digital landscape. The challenge for companies lies in moving beyond theoretical discussions and harnessing AI’s real-world potential. As AI continues to evolve, businesses will need to adopt responsible, ethical practices and ensure that their operations are grounded in strong data management to stay competitive in this new era of technological transformation.