Tero Ojanperä’s keynote at Breaking Waves
We had the pleasure to host a keynote at Breaking waves, a maritime industry focused event. Our Chairman Tero Ojanperä took the stage to share his thoughts on moving from smart ecosystems to deep companionship. Here we present key learnings from his keynote.
Reinvent your business to build deep companionships
In order to get to the level of deep companionships, you need to start by understanding the market and weak signals. What is the current status of the market? What other industries are doing that will affect yours, or is there an innovation elsewhere that you could adopt to your business?
According to Ojanperä, reinventing the business requires four key elements:
- Create a platform. Today’s partnerships are built through technology like APIs.
- Remove friction from the client. This means making buying as easy as you can.
- Build a learning loop. With AI and machine learning, your organization is able to learn from its own existence: from the client interaction, from the tools being used, from its employees.
- Reorganize around AI. This applies to both the internal and external life of the company.
With these, you need to start to drive culture change as reinventing the business starts with the people and business culture.
Case: Removing friction in the maritime industry
Let’s take the four key elements of reinventing the business and think of examples in the maritime industry. What could these mean in practice?
- Creating a platform. A good example of this is Finnish Awake.ai which enables autonomous ships to call at ports. This requires creating all the needed digital handshakes between smart ships and smart ports. Awake is developing data standards, APIs, datasets and cloud services towards this future. Silo.AI is working with Awake.ai to make this happen.
Another example of this is Port of Antwerpen’s initiative for sharing data between ports. A new company Nxtport has been formed for this purpose. The NxtPort Data Utility Platform allows faster, more cost-effective, as well as more efficient transfers of data between different players.
- Removing friction. In the maritime industry, the global technology platform Flexport is a good example of this. They are building freight forwarding platform which simplifies the value chain to all parties. Their platform aims to deliver deep visibility and control, lower and more predictable supply chain costs, as well as faster and more reliable transit times.
- Building a learning loop. With AI and machine learning, your business will learn from its own business, and gain knowledge from its own operations every time something happens. As Awake.ai accumulates data from it operations this data can be used to improve the system. Same applies for the majority of our clients who we help build AI-driven business.
- Reorganizing around AI. Previously knowledge had to be centralized, at least to some level. Now we can gain situational awareness in a different way. An AI bot could help employees with insights and advise. For example, this could be an AI bot proving guidance and help for employees working internally and externally at an individual level. At the same time, the AI tools could ensure that the employees are acting consistently towards an agreed joint target in a complex environment. There would be less need for centralized management.
AI enables truly self-organizing companies
The culture change will require switching towards more networked organization, and getting out of the traditional silos. As Ojanperä reminded us, flexible organizations are the only ones that will be able to react quickly and adopt new innovations in a fast enough pace. Managing this kind of organization will become easier with AI and machine learning.
AI is able to fundamentally change how the situational awareness and data-driven insights are distributed across the organization. The employees will have quicker access to information, as well as intelligent tools with predictions and suggestions based on previously happened cases and the data the company has. Removing friction from the external world starts with becoming flexible internally.
Want to start reinventing your business with AI? We are here to help. Get in touch at https://silo.ai/contact.
We recently hosted our own event on predictive maintenance, with Wärtsilä as the key speaker sharing their journey. Read the recap here.