Recent advancements in IT create transformative opportunities for companies both in the supply chain and in all the industries we serve. Those technological possibilities, however, come with a number of very real challenges – and those challenges are having an impact.
According to PwC’s third annual AI Predictions Report, only 4% of executives plan to deploy AI enterprise-wide in 2020; last year, nearly 20% hoped to do the same. And according to the PwC survey, the primary reason is the need to focus on fundamentals before enlarging AI projects.
For many companies, a key fundamental is the talent gap, specifically when it comes to artificial intelligence (AI) and machine learning (ML). Do you hire out or train within?
The answer is both. It’s critical businesses build their teams with professionals who bring much needed skills in AI and ML – mainly data scientists with deep learning experience. It’s also important to provide internal analysts with the training needed to create tools specific your global supply chain needs. This step in the process means developing less advanced, valued added applications to enhance a legacy business process while cultivating a learning environment. These novice applications will become more advanced as your team becomes more astute in AI and ML capabilities.
Think local, act global
Among the biggest challenges our interconnected economy faces today: globalizing applications while keeping processes nimble and localized.
At CHEP, we’ve seen success with an internal program called Shaping Our Future. This global initiative unites our IT and technology experts with business practitioners who have synchronized objectives to deliver a superior customer experience and improved supply chain performance.