AI Will Play a Critical Role in Company Success Over the Next 5 Years

Companies that do not invest in the implementation of artificial intelligence (AI) solutions will struggle to compete in the market in the future – this is the conclusion of the twelfth BE-terna conference on the topic “AI beyond hype”. Domestic and global experts in the field of artificial intelligence gathered at the Esplanade Hotel in Zagreb to present positive examples, opportunities, and potential risks of AI.

AI technology is currently in its second phase of development, in the form of generative artificial intelligence such as ChatGPT, Microsoft Copilot, and other conversational models. The data from BE-terna shows that the average growth rate of AI implementation in the region exceeds 60 percent, indicating that this is a key trend on the rise, primarily followed by leading domestic companies.

The conference was opened by the director of BE-terna, Krešimir Mlinarić, who emphasized the importance of following digital trends like AI for business: “Thinking today that AI will bypass us is akin to companies deciding 20 years ago not to introduce computers when they first appeared. We are currently witnessing a significant wave of Croatian companies that have begun the second phase of digitalization – using artificial intelligence for inventory optimization, production planning, and similar activities. We do not know what the third phase will bring, but companies that do not implement AI solutions will be far less competitive.”

This is supported by Deloitte’s research indicating that 94 percent of managers believe AI will play a key role in business success over the next 5 years. Their research of high-ranking managers worldwide showed that 76 percent of leaders plan to increase their investments in AI in the next fiscal year.

– Artificial intelligence is the fastest adopted technology in history – emphasized Ratko Mutavdžić, Regional Technology Officer at Microsoft. It is still a young technology, which is in its infancy, and its full potential will only be seen in the future. Despite this, the impact of AI on jobs is already visible, and Aco Momčilović from Future AI Consulting highlights the example of translators increasingly being replaced by AI technology and graphic designers whose jobs are becoming more automated. In some aspects, artificial intelligence is already more capable than humans, for example, it manages drones better than humans and is often more empathetic than people.

On the risks of AI technology spoke the director of digitalization of the Spanish telecommunications giant Telefonica S.A. and leading European expert on digitalization Chema Alonso. Chema Alonso is a YouTuber with 350 thousand followers who engages in so-called ethical hacking, hacking systems to improve security. Alonso emphasized the importance of cybersecurity in the age of artificial intelligence and the danger of identity theft using deepfake technology, which can generate realistic video content and manipulate what the speaker has said. Chema Alonso shared his insights into strategies that can help determine whether a speaker is authentic or not: “In the last couple of years, we have witnessed the advancement of deepfake technology, which is becoming better and more sophisticated. We are developing advanced algorithms to distinguish real from fabricated footage, for example, by analyzing the speed and frequency of blinking.”

Experts on the panel discussed the application of artificial intelligence in business. Along with moderator Dragan Petric, editor of the magazine BUG, Milan Listeš from BE-terna, Josip Kelava from Tokić, Marin Grgurev from Studenac, and Ratko Mutavdžić from Microsoft exchanged their experiences and insights, concluding that the implementation of AI in business represents a significant challenge for companies, but also a potential for return on investment. Currently, the biggest challenge for companies is the quality of data, which is collected en masse but must be processed to be usable in AI solutions. For those who are just preparing to start implementing AI, the panelists agree that it is most important to consider existing business needs and tailor solutions to the specific requirements of the company. To reap the benefits that artificial intelligence offers, companies must be ready to collaborate with experts in this field and invest effort and time to develop and adapt AI solutions to keep pace with new market demands.