In a recent conversation at Valor’s LP and investor conference, VC DAY, David Wilkinson, CEO of NCR Voyix offered valuable insights into the practical application of AI in the enterprise. Dave McMullen, President of Media Frenzy Global, a marketing and media strategy firm, interviewed his client at NCR Headquarters during Valor’s gathering.
Wilkinson, whose company serves major retail and restaurant clients, emphasized the need for AI solutions that address real-world problems, debunked common myths, and highlighted key takeaways for founders building AI technologies. “We’re on this platform journey as a company from legacy software provider, as the 140-year-old startup in the retail and restaurant industry. We’re making that journey. It’s the combination of tech and services that really differentiate us AI for us.” Dave McMullen, CEO of Frenzy Media, engaged David in a fireside chat that delivered dozens of valuable insights.
Wilkinson’s first key takeaway is that AI must be practical and problem-solving. Rather than chasing the latest trends, businesses should focus on AI applications that address tangible challenges and deliver measurable results. For NCR Voyix, this means using AI to improve internal productivity, enhance customer service, and combat retail shrink. “We have real problems that we need technology to solve,” Wilkinson stated, emphasizing the need for AI to address practical business challenges. For example, by leveraging AI for computer vision and data analysis, NCR Voyix helps retailers identify and prevent theft, ultimately saving them money and improving operational efficiency.
The second takeaway is the importance of integrating AI into existing workflows and systems. Wilkinson highlighted the need for AI solutions that seamlessly integrate with current technology infrastructure, allowing businesses to leverage the benefits of AI without disrupting their operations. NCR Voyix achieves this by embedding AI capabilities into its point-of-sale software and service platforms, enabling clients to access AI-powered insights and recommendations directly within their familiar workflows.
“AI should be embedded in everything we do,” Wilkinson emphasized, highlighting the importance of seamless integration.
The third takeaway is that AI should empower employees, not replace them. Wilkinson dispelled the myth that AI will lead to widespread job losses, emphasizing that AI should be used to augment human capabilities and free up employees to focus on higher-value tasks.
“AI should empower employees, not replace them,” Wilkinson affirmed. NCR Voyix uses AI to automate routine tasks, provide real-time support to customer service agents, and deliver personalized training to employees. This approach allows businesses to improve efficiency and customer service while also empowering their workforce.
Wilkinson also addressed two common myths about AI in the enterprise.
First, he debunked the notion that AI is only for large companies with deep pockets. NCR Voyix offers AI-powered solutions that are accessible to businesses of all sizes, demonstrating that AI can be a valuable tool for even small and medium-sized enterprises. Second, Wilkinson challenged the idea that AI is a “magic bullet” that will solve all business problems overnight. He stressed the importance of a strategic and measured approach to AI implementation, focusing on solutions that address specific pain points and deliver tangible results.
Looking to the future, Wilkinson expressed optimism about the transformative potential of AI in the enterprise.
He envisioned a future where AI-powered technologies would enable businesses to personalize customer experiences, optimize operations, and unlock new levels of efficiency and innovation. He encouraged founders to continue building AI solutions for the enterprise, focusing on practical applications that solve real-world problems and deliver measurable value. “I tell our clients if you have to rely on NCR Voyix for 100% of your innovation, we’re both going to fail. So our whole platform strategy about creating an open ecosystem that will allow partners to develop and take advantage of all the things that we’re doing, the resiliency that we build in that core platform, and then allowing both partners or startups to come in –and allowing our clients to be able to experiment with new technologies that create differentiated guest experiences.”
In conclusion, David Wilkinson’s insights offer a valuable roadmap for businesses and entrepreneurs looking to leverage the power of AI in the enterprise. By focusing on practical solutions, integration, and employee empowerment, businesses can harness the transformative potential of AI to drive growth, improve efficiency, and gain a competitive edge in the marketplace.
- As AI continues to evolve, the opportunities for innovation and disruption are endless, and those who embrace this technology will be well-positioned for success in the years to come.