Steve Bandrowczak, CEO of Xerox Holdings Corp, discusses the company's ambitious reinvention strategy focused on growth through core stabilization and IT diversification. He emphasizes the importance of enduring business relationships and innovative debt reduction strategies. Michelle Giuda, CEO of the Krach Institute, shares critical insights on national security concerns related to AI, especially regarding the Chinese company DeepSeek and its potential geopolitical implications. Together, they illustrate the intersection of technology and business in today's world.
Xerox is embarking on a three-year strategy focused on business reinvention by diversifying its revenue sources and enhancing its IT services model.
Effective implementation of AI technology relies on robust data management and infrastructure, emphasizing the need for quality data access.
Deep dives
Empowering Developers with Advanced Tools
Developers can enhance their productivity and innovation using tools like GitHub Copilot, VS Code, and Azure AI Foundry. These tools are designed to support rapid development, allowing engineers to focus on coding and creative solutions rather than getting bogged down by the technical intricacies. With built-in security and compliance features, these platforms help ensure that developers can pursue their ideas while adhering to industry standards. This integration of advanced technology is crucial for developers aiming to bring their visions to life efficiently.
Xerox's Strategic Reinvention Journey
Xerox is undergoing a three-year reinvention strategy aimed at stabilizing and expanding its core business while diversifying its revenue streams. The company plans to grow 20% of its revenue from areas less impacted by the decline in the print industry by acquiring businesses like IT Savvy. By shifting towards a services-led model, Xerox is looking to leverage its strong relationships with clients to introduce new offerings in IT solutions and services. This transition includes enhancing its sales team and operational methods to create a more resilient business model.
Navigating the Complexities of Data and AI
Implementing AI solutions effectively hinges on having access to quality data, and organizations need the proper infrastructure to manage that data. Xerox emphasizes the importance of helping clients orchestrate their data, including unrecognized data types like video and sensor information. By enabling clients to utilize their data efficiently, Xerox seeks to help them derive actionable insights and differentiation through AI. This approach highlights how critical data management is in fully capitalizing on the potential of AI technology.
The Outlook for Print and Market Dynamics
Despite perceptions of a declining print market, Xerox maintains that print is far from dead, with significant ongoing usage in various sectors. The company forecasts a relatively modest annual decline of about 2% to 3% in print demand, aiming to outpace this decline by gaining market share through innovation. There remains considerable value in traditional print, including invoices and contracts, which Xerox intends to help clients capitalize on. By assisting clients in unlocking the potential of their print data, Xerox strives to sustain a viable future in a changing landscape.
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Xerox CEO Steve Bandrowczak discusses the company's growth and acquisition strategy. Michelle Giuda, CEO of the Krach Institute for Tech Diplomacy at Purdue, shares her thoughts on national security concerns over the Deepseek AI model. Katie Hubbard, EVP of Capital Markets for Walton Global, breaks down housing data and outlook for the sector under the Trump administration. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.