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48 THE DISTRIBUTOR’S LINK Nelson Valderrama Nelson Valderrama is the CEO of Intuilize, a software Service platform that specializes in helping mid-sized distributors transform data into profits. With more than 22 years’ experience as P&L manager executive for major PE firms and industrial distributors. Nelson has dedicated his career to help business uncover hidden competitive advantages and unleash the power of data in the new Digital Economy. For more information contact by email nelson@intuilize.com or visit www.intuilize.com WANT A THRIVING BUSINESS? FOCUS ON AI AND DATA CAPABILITIES! Amazon, Netflix, and Microsoft have pioneered and exploited the potential of artificial intelligence and machine learning. But, wholesale distribution has been slow to embrace this game-changing technology. No one can put a finger on the date things changed. We once thought of computers as super calculators. We enjoyed the distraction of video games and welcomed access to the global internet. Still, the “average” person didn’t notice the arrival of artificial intelligence (AI) until Open AI caught the world’s attention with ChatGPT in 2022-2023. Now, we have Bard, Claude, Jasper, and other chatbots ready to generate language, images, and music. This trend is the tip of the iceberg, but it has launched a global discussion focused on AI’s potential to replace human potential. But I’ll leave science fiction to others. I want to see more wholesale distributors move forward on their tech journey. They will see growth in sales, leverage, and profits when they commit to AI’s data capabilities. Early Adopters Will Lead I wish we had more credible research on CEO attitudes toward adopting AI capabilities, but we can look at surveys across economic sectors. ¤ KPMG 2023 U.S. Outlook Survey found that 72% of responding CEOs considered AI “a top investment priority despite uncertain economic conditions.” Business leaders see a challenge in “remaining agile to take advantage of new opportunities and respond to unforeseen challenges.” CONTRIBUTOR ARTICLE ¤ An IBM Institute of Business Value (2023) study of CEO concerns reported that “75% believe competitive advantage will depend on who has the most advanced generative AI.” 50% are now integrating generative AI into products and services, and 43% use it to inform strategic decisions. ¤ The McKinsey Global Institute (MGI-2018) addressed AI’s impact on the economy through 2030. The report emphasized, “The AI revolution is not in its infancy, but the majority of the economic impact of AI is yet to come.” “The AI revolution is not in its infancy, but the majority of the economic impact of AI is yet to come (MGI).” The MGI report predicts a significant performance gap, with early adopters far outperforming those slow to adopt. The report predicts a 6% increase in cash flow for early adopters and a 20% decline in cash flow for slow and non-adopters. STADTBIBLIOTHEK, STUTTGART, GERMANY 2018 IMAGE FROM UNSPLASH. The Economist, MIT Sloan, Harvard Business Review, and the Bipartisan Policy Institute all report on the advantages of early AI adoption. CONTINUED ON PAGE 118
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