Monday’s Keynote: Paul Zikopoulos Discusses Data, AI and Future Technology

On Monday morning, Paul Zikopoulos started ProMat off strong with insights on the importance of data collection and the effective implementation of that data through the use of AI. Zikopoulos is an award-winning tech thought-leader and writer who has shared his expertise on AI and big data on the popular TV show 60 Minutes, as well as in publications such as Technopedia and Analytics Week. 

Zikopoulos gave a comprehensive overview of the use of data in daily operations. He said that AI has now been democratized for many, and is more accessible – but how that data is being used varies widely.

Here are some highlights from his keynote:

• Studies have shown that productivity worldwide is declining, even as the available technology increases.
• At this point, we need to “shift left,” or evaluate our processes early to rethink how things are handled. Then, we can “shift right” and envision brand-new business models. A “shift right moment” is a shift in basic ideology needed to evolve how business is done.
• Zikopoulos gave his recipe for getting things done, which is: reducing costs, modernization, driving insights, then transformation.
• He said that companies should spend money to save money, but also spend money to make money. Once you’ve done that, use automation, optimization and prediction to drive business.
• We are at a key inflection point – we are moving from a world run by humans and supported by technology to a world run by technology and supported by humans. It will be necessary to reimagine work processes, breaking apart your business workflow to identify places AI can aid in the process.
• The way to really compete is through your data – and in order for the data to be valuable, you have to utilize that data in a way that helps drive your business forward.
• AI will provide new ways of working, with tools that will increase efficiency by helping us work smarter and faster.
• Language can now be seen as a kind of technology – and AI can be used as a digital assistant to help you write and edit your correspondence. AI can also be used to capture information and data at your company to document knowledge to help with the coming “silver tsunami,” or future retirees.
• For customer outreach, AI can automate messages to current customers and qualified leads to help you maximize your time, and can also help you search for opportunities, whether they are potential leads, potential parts for your equipment, and more. You can also tailor your messaging based on the technical prowess of your audience.
• More data means richer models – if you have deep, valuable data, the models you create will be more useful. Simulating maintenance scenarios and evaluating the impact of equipment performance can be aided by AI. And, having data earlier allows you to act on problems earlier.
• Agentic AI is a hot new technology on the rise. AI agents can perceive their environment, inject reason about what they observe and act autonomously, continuously monitoring orders for errors.
• Cybersecurity is vitally important with increased use of AI as manufacturing is one of the most hacked industries.
• Technology is easy but culture is hard – it can be difficult to change your company’s culture to accommodate the newest technology.