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  • Generative AI for Innovation

    November 25, 2024
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Prof. Valery Yakubovich

Prof. Valery Yakubovich, executive director at the Mack Institute for Innovation Management, The Wharton School, is focused on fostering synergy between research, teaching, and the practice of innovation management. He emphasizes dialogue between academia and corporations, while strengthening connections with regional and corporate partners' innovation ecosystems.

Insights

  • When ChatGPT burst into fame, there was a knee-jerk reaction from corporates who rushed to capture value from generative AI before it is created.
  • It is important to define the economic value from AI investments, how to unlock it first and then capture it.
  • Corporates should try out generative AI, explore, experiment with it, and not rush the adoption. The focus should be on improving productivity, not cost reduction.
  • Automation relies on well-defined inputs, processes, and outputs, allowing users to trust the system. Generative AI operates differently — a black box.
  • Hallucination is a handicap for productivity but a benefit for innovation.
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About the Author

About Ramachandran S

Ramachandran S

Ramachandran (Ram) is the lead for engineering, manufacturing, and energy transition in the Infosys Knowledge Institute. He has more than 25 years of industrial experience in the application of digital technologies and management practices. His areas of interest are Industry 4.0, mobility, sustainability, and future of work. He is a frequent writer and speaker on these topics. He has coauthored a book ‘Neoskilling for Digital Transformation’ with Prof. L. Prasad, IIM Bangalore (Wiley), a chapter on Servitization from Infosys (Springer) and a book on electric vehicles. Ram was invited by UNIDO for the 50th anniversary at Vienna to talk about Industry 4.0. Before Infosys, he was a Principal Research Manager and lead for APAC at IDC Manufacturing Insights. He is a mechanical engineer with a post-graduation in manufacturing and an executive MBA from IIM Bangalore.

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