OMMAX Events

AI Everywhere

From groundbreaking deep tech companies to AI-powered enterprise software providers, our AI Everywhere event, co-hosted with Stifel, showcased the immense potential of AI in transforming industries.

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What every CEO and deal team should know about generative AI

London, May 9, 2023 | Together with our co-host STIFEL, we brought together 170+ Executives and leading Private Equity Funds and 20+ leading Growth Equity/Private Equity stage companies.

AI Everywhere provided a unique platform for deep tech companies at the forefront of enabling technologies and enterprise software companies leveraging Artificial Intelligence (AI)/Machine Learning (ML) in their offerings to come together and explore the vast potential of AI across various industries.

The conference covered four topics:

AI & Managing Enterprise Risk
AI for real-world applications
AI in Healthcare: seeking adoption
Enabling Human-to-Human Interaction

Our panel companies included acrolinx, causaLens, CotractpodAi, DentalMonitoring, Feature Space, Graphcore, Holmusk, PEAK, Parloa, Unbabel, Yoummday, ometria, and many more! Thank you to all panelists and other company participants for making this event a big success.

Dive into our summarized seven key insights, event impressions, and what every deal team should know about generative AI below!

Key insights

1. Lack of C-suite-led AI strategy

Despite the buzz surrounding AI and its applications, many organizations have yet to fully grasp the strategic importance of developing a comprehensive AI strategy. A notable observation from the event was identifying the absence of a C-suite-led approach as a crucial factor contributing to this gap. With leadership actively championing the integration of AI into their organization's operations, decision-making processes, and overall strategic vision, companies may be able to fully harness the transformative power of AI across all its aspects.

2. From optional advantage to necessary asset

AI has become essential for companies to stay competitive and drive innovation. Companies that successfully implement AI strategies gain a competitive edge, responding swiftly to market dynamics and capitalizing on emerging opportunities.

Without an AI strategy, businesses risk falling behind their peers and missing out on valuable growth opportunities.

3. What will happen to the 24m+ software engineers globally?

The rise of AI-powered tools and platforms will enable individuals to communicate their desired outcomes to machines and generate software code automatically, fundamentally changing the traditional coding process. Software engineers will shift their focus to higher-level tasks like critical thinking, problem-solving, and guiding AI systems.

They will collaborate with experts to develop robust AI models, ensure ethical considerations, and integrate AI technologies into existing software infrastructure. Adapting to these changes and acquiring expertise in areas like machine learning and data science will be crucial for software engineers to thrive in an AI-driven future.

4. Europe is falling behind

In the realm of AI, both China and the USA have reached a similar level of sophistication, while Europe has fallen behind. At the same time, Europe's response to this challenge, primarily through regulation, may hinder innovation and further exacerbate competitive disadvantage.

While Europe's emphasis on law aims to address ethical concerns and ensure responsible AI deployment, excessive regulation can stifle technological advancements and impede Europe's ability to catch up with AI leaders, requiring a balance to be struck for effective competition.

5. Search behavior is changing

In the next 3-5 years, we expect a substantial transformation in online customer targeting and a notable shift in marketing budget allocation. The evolving search behavior of customers drives this transformation, meaning businesses will need to adapt their marketing strategies to reach and engage their target audience online effectively.

With the rise of personalized search experiences and advances in data analytics, businesses will have the opportunity to tailor their marketing efforts to match individual customer preferences and behavior. Consequently, marketing budget allocation will likely be realigned to prioritize digital channels, data analysis, and technologies that enable precise customer targeting and engagement.

6. Big fish, small fish

The discussion with various AI-based businesses shed light on the current landscape, revealing that there is room for both big tech players and specialized AI companies. Although large universal models have their limitations in terms of efficiency and precision, by recognizing the advantages and limitations of different players in the AI landscape, businesses can make informed decisions about partnerships, investments, and the selection of AI solutions that best align with their specific objectives and requirements.

7. Slow adoption by Healthcare

The healthcare system currently needs to grapple with significant structural shortages of crucial resources and a qualified workforce, posing challenges to the system's ability to meet the growing demand for healthcare services.

However, the inertia within the system is likely to contribute to longer adoption cycles for implementing necessary changes. In addition, the complex nature of the healthcare industry, with its complex regulatory frameworks and intricate workflows, can hinder the swift and agile adoption of innovative solutions and practices.

Thank you to our conference organizers, Ben Tompkins, Managing Director & Co-head Europe at Stifel, and Dr. Stefan Sambol, Founding Partner at OMMAX!