The topics I am asked to provide consulting and advisement on the most are supply chain management, followed by robotics, technology, logistics, transportation, retail, innovation, and strategy. What I find interesting is that over the last 18 months, one thing has risen to the forefront to become the common denominator across every topic – Artificial Intelligence, better known as AI.
I’ve come to realize that AI isn’t something that a company will adopt as if it is just another technology to support their business. AI will become the primary driver of their business. Stated another way, as soon as 2025 to 2030, when a CEO is asked, “What business are you in?” they will reply with, “We’re in the AI business.” Gradually and then suddenly, AI won’t be something that a company uses; it will be the company. This will become a reality.
An area of business that will be impacted the most by AI is the supply chain. AI is about to revolutionize the way supply chains are managed. Why? Because corporations are beginning to realize that there isn’t just a shortage of people to perform functions within their supply chains, warehousing, and fulfillment; for example, there is a shortage of people with the skills to manage their supply chains. When faced with a shortage of people with the required skills, the best alternative is to turn to AI.
You read it here first – by 2030, there will be companies that won’t have a CEO; they’ll have a Chief AI Officer. As AI becomes more capable at decision making and systems become autonomous, AI will become the primary enabler of growth and revenue, not executives. The skills and business acumen of a Chief AI Officer will be more relevant than the skills of a traditional CEO. This will happen.
Many companies are making great strides in designing and utilizing autonomous vehicles. Several software companies have created software to create autonomous supply chains. In my opinion, the best software on the market for creating an autonomous supply chain comes from Solvoyo.
Supply chains are notoriously volatile. Creating autonomous supply chains won’t eliminate volatility, but AI has the ability to evaluate data and make recommendations that will mitigate an identified issue. AI will also minimize disruptive ripple effects across the supply chain.
The purpose of a supply chain is to do one thing – enable growth. Autonomous supply chains won’t just become a reality; they’ll be a must-have.