Using AI to Create New Business Models

Episode Summary

In this episode, Markus Zirn and Rama Theekshidar dive deep into what’s driving digital transformation in the distribution industry. Rama delves into the transformative potential of AI, the benefits of adopting composable architecture, and the significance of cultivating a growth mindset. From discussing the vast scale of the distribution industry to the evolutionary impact of new technologies and AI, Rama offers visionary insights and practical advice for leaders embracing change and innovation. These compelling insights extend beyond distribution to anyone navigating the digital transformation journey in their industry.

Timestamps

*(00:00) Episode Start

*(02:47) Understanding the distribution industry and Rama's background

*(08:56) Evolution in the distribution industry

*(15:00) Enabling digital transformation through composable architecture

*(22:50) Choosing the right technology partner - What to look for and what to avoid

*(28:52) AI's impact on the distribution industry

*(37:42) Rama's thoughts on the future of AI in business

*(46:01) How to be a rebel entrepreneur and Rama's advice for Technology leaders

Episode Key Takeaways

• Embrace composable architecture: Integrate flexible and interchangeable services to enhance scalability and efficiency within your operations. By adopting this approach, you empower your organization to adapt swiftly to evolving needs.

• Revolutionize your business with AI: Explore innovative applications of AI beyond task automation. Identify opportunities to leverage AI for creating new business models and enhancing existing ones, driving transformative change and competitive advantage.

• Harness existing experience and knowledge: While AI and automation are reshaping industries, Rama talks about the importance of retaining and re-purposing experienced staff. By blending traditional wisdom with cutting-edge technologies, you can achieve more sophisticated outcomes and sustainable growth.

• Commit to lifelong learning: As Rama quotes, "You only get smarter by playing a smarter opponent." Continuously seek knowledge from diverse sources to innovate and overcome challenges. Prioritize understanding human behaviors, business trends, and industry shifts alongside learning new technologies.

Top Quote

“Coming from an electrical industry, it's almost like we have to be like a transformer. A transformer's operating principle is mutual induction. And mutual induction is the power of a transformer to transfer power between a primary coil and a secondary coil and then magic happens, correct? That's mutual induction. What I mean by that in our world is how do we have business teams and technology teams acting as the primary and the secondary coil, and you create a mutual induction using a composable architecture where, we have made technology using composable architecture and large language models and AI where the business and tech teams are in it together, solving four problems together, not creating different solutions in silos. When we do that like a transformer, it is quite powerful, and then we will all win.”

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