The data industry is fast changing, with the amount of data collected between 2016 and 2025 increasing tenfold. Digitization is omnipresent and modern technologies foretell future disruptions. That exponential growth resulted in 58 billion euros of AI investment in 2021, paving the way for major developments in the area. Econocom was delighted to welcome a Boston Consulting Group (BCG) team led by Lucas Quarta, director and partner, AI and data specialist, to our head office in Puteaux on 2 October. The aim: to review the changes as well as the challenges businesses face in incorporating this new way of thinking.
The application of AI in business isn’t just a technical matter. It necessitates a cultural and organizational change. Around 70% of AI-related challenges involve change management. That first demands incentive and education. The vision, use cases, necessary skills, data governance, infrastructure and ecosystem must evolve accordingly. Although the process is complex, the company can reasonably expect to create value in four to nine months.
One of the crucial points lies in data governance. That means understanding which data are the most precious, determining who is responsible for their quality, monitoring and improving data quality, and finally industrializing the management.
Improving customer services
For Econocom, AI offers fascinating opportunities. The potential applications include the way to envisage sales cycles, which encompasses all the AI solutions that improve client sales as well as so-called augmented delivery, which uses AI to provide a better service to clients, particularly incident resolution and predictive management of financial assets.
With ever-lower barriers to entry, AI is becoming as easy to use as Google. The AI market is projected to grow to $120 billion by 2030, again according to the BCG. Our company is moving in that direction with the recent launch of the ‘Oscar’ project. And many more in the pipeline… We promise, Econocom Stories will come back to this topic.
