Dec 20, 2024 .

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My perspective: AI and competitiveness

The reality is that many companies' traditional recipes for success are no longer sufficient to remain competitive in a rapidly changing world. Globalization has intensified competition, and the digital transformation has raised the expectations of customers and partners to a new level. Companies that cling to old patterns are falling behind - they are losing market share, struggling with falling sales, having to cut jobs and ultimately risking their survival. It's a bitter realization, but "we've always done it this way" is now a guarantee of decline rather than stability.

"Competitiveness today means not only working efficiently, but also remaining agile - and this is where AI and automation come into play."

However, I see enormous potential for change in traditional industry in particular. Technological progress is not a threat, but a unique opportunity to break new ground. Technologies such as AI and automation can help companies to reinvent themselves and become fit for the future. They are tools that not only optimize processes, but also enable new business models and can pave the way to new markets.

The first step, however, is to change your own mindset and the mindset of your employees: It is not enough to hold on to traditions if they no longer hold up. The focus must be on combining these traditions with state-of-the-art technology to make them relevant for the future.

Companies that are still hesitating today are faced with a simple but crucial question: do they want to preserve the past or do they want to shape the future? The answer will decide who stays in the market and who does not.

The role of AI in traditional industry

One example is the use of AI in production. Machines that learn in real time and dynamically adapt their processes can significantly reduce waste and improve product quality. But for AI to be able to make such precise decisions at all, it needs data - and this data must be available in digital form. In many traditional industrial companies, however, there are still processes in which important information is either recorded manually or not documented at all: I know companies where employees sit among mountains of files - does that sound familiar? The digitalization of operating and production data is therefore the first necessary step to realizing the full benefits of AI.

An automated production line equipped with sensors, for example, can collect data on temperature, pressure, material properties and other parameters in real time. This data flows into a central system that is analyzed by AI. This allows potential problems to be identified at an early stage before they affect production. Sources of error are eliminated and production becomes more efficient and cost-effective. Without this database, however, AI remains ineffective - it can only work as well as the underlying information allows.

But it's not just about production. AI also plays a crucial role in the areas of sales and customer service. By analyzing customer data - such as purchasing behaviour, feedback or support requests - AI can help companies to better understand their customers' needs. It enables customized offers, improves customer communication and strengthens customer loyalty. Even companies with decades of history can use these technologies to achieve a completely new dimension in their customer relationships and strengthen their market position.

Another area that is often underestimated is increasing efficiency in administrative processes. The combination of digitalization and automation offers enormous potential here. Many companies still work with paper-based systems or disjointed digital tools that slow down efficiency. The digitalization of documents and processes - from invoicing and supplier management to the processing of customer inquiries - creates the basis for automation. AI can then use this digitized data to completely take over tasks such as invoice processing or supply chain management.

The result is a two-fold increase in efficiency. On the one hand, repetitive, time-consuming tasks are completed faster and without errors. On the other hand, employees are freed up to concentrate on more complex and strategic activities. In my experience, it is precisely this redistribution of work resources that leads to companies becoming more innovative, agile and competitive - regardless of their industry or previous technological orientation.

It is important to start small. No one expects a company to convert its entire infrastructure overnight. But pilot projects in individual areas, such as production or logistics, can quickly show what potential actually exists. And these successes build trust - both among employees and managers.

My openness to change

My broad industry perspective has taught me to be open to new technologies and to approach them with curiosity rather than reticence. I don't see technology as an exclusive tool for innovative pioneers, but as an opportunity for every company - regardless of industry or tradition. The strength of AI lies precisely in its versatility: it can be used just as successfully in a high-tech start-up as in a traditional mechanical engineering company. And this is precisely the crucial point for me: it's not about displacing or replacing the existing values of a company, but about strengthening and further developing them with state-of-the-art technology. This openness enables me to recognize potential in every industry and to explore new paths together with companies.

 
 
 
 
 

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