In the current podcast "This is what the economy sounds like" by the economic newspaper Handelsblatt, LHIND CEO Jörn Messner talks about Artificial Intelligence and the LHIND offering AI as a Service. We asked Jörn Messner how Artificial Intelligence is changing digitization and how companies can benefit from this technology.
Norderstedt, July 21, 2023 – In January, LHIND provided 5 theses to explain why 2023 will be the year of Artificial Intelligence (AI). With the introduction of ChatGPT, the topic of AI has now also reached the general public. Have we actually made significant progress in digitization, or is it just the next hype that will fade away?
Jörn Messner: We have been dealing with Artificial Intelligence for a long time, but the rapid developments in recent months have been a quantum leap for digitization. AI will change everything sustainably and create a high level of customer benefits. However, even though we are certainly better in Germany than our reputation suggests, we still face challenges in digital infrastructure. We need to catch up in that area.
What specific use cases can we implement in the business with the use of generative AI?
Jörn Messner: To stick with the example of textual applications of generative AI: ChatGPT is currently applied in a more general way and utilizes the knowledge from the internet. For businesses, we need specific applications - moving away from global knowledge and towards company-specific knowledge. One keyword for this is Smart Search. For this, the generative AI is trained with company-owned documents, such as contracts or HR documents. The user can then query their own documentation landscape and interact with it. They ask a question and immediately receive an answer. Currently, we see strong demand for this in the market.
Overall, companies from all industries can become more efficient, make better-informed decisions, and even develop entirely new business models through the use of AI. Besides more precise predictions along the entire value chain, calculating dynamic prices or creating substitute values in the absence of consumption data is easily possible. Additionally, there are the almost classic AI applications in text recognition and classification. We develop tailored AI services for our customers.
How does AI as a Service (AIaaS) work? Is it about one-size-fits-all solutions?
Jörn Messner: It's not about one size fits all. That wouldn't work, as each customer has specific requirements that result from their own business processes. We are talking more about generic solutions here. We develop a technological service that can solve certain tasks in the area of natural language, for example. The customer can then use this technological service to analyze customer feedback or internal documents, for instance. However, behind it, there is always the same technology that we offer as AIaaS. Through AIaaS, companies can reach the point where they can truly benefit from AI much faster.
You can listen to the Handelsblatt podcast "This is what the economy sounds like" with Jörn Messner here (in German).