Dan Diasio, EY Global and Americas Artificial Intelligence Leader, joins Cheddar News at CES in Las Vegas to discuss how companies are using artificial intelligence to accelerate product innovation.

Dan Diasio, EY Global and Americas Artificial Intelligence Leader, joined Cheddar News at CES in Las Vegas to discuss how companies are using artificial intelligence to accelerate product innovation.

How Artificial Intelligence is Accelerating Product Innovation

this segment is brought to you by U. Y. Empowering today's leaders to realize tomorrow's opportunities. We're bringing you all of the latest technology coming out of this year's consumer electronic show also known as C. E. S. We're continuing continuing to see new uses of artificial intelligence and CS 2020 did not disappoint cheddar news is Michele Castelli Oh, catching up with dan d'Alessio Ey Global and Americas artificial intelligence leader over at C. S. To talk about how the willingness of businesses to embrace AI is actually accelerating product innovation. Take a look. So how are companies using artificial intelligence to boost product innovation? So C. E. S is all about product innovation and AI is everywhere here at C. E. S. So I've largely put that into two buckets. The first bucket is where there's an existing product and we use Ai or machine learning to make this product smart. The second type, the second bucket is one. We're seeing a lot of, particularly in the health space where AI is the product itself and the whole value proposition for the concert is the insights that come from A. I. So if they're selling some device, it's usually just a mechanism to be able to collect data for the Ai to work. Think of this as a device you wear to help you sleep better at night or a medical diagnostic kit that you can use to be able to treat yourself better with samples at home. So I want to go back to something you said, how is artificial intelligence helping businesses better understand consumers. So every business today needs to be consumer centric, you can't produce a product and hope that people use it anymore. So as these products become more intelligent and more smart. That gives the opportunity for companies to listen and learn about how consumers are using their products. So are they using it every day or have they stopped using it after two days? Are they using it for what we intend them to or have they come up with entirely new reasons? And as companies do this they're able to better create marketing campaigns to meet consumers where they are or to be able to add more value by adding new features into the products in the future. So do you think this is a reality right now or just more needs to be done to make this a reality? So if companies are not putting ai into their products or are not listening to how their products are being used, they're probably falling behind and they're missing an opportunity to build better loyalty for their brand and also to be able to create growth. And I think what we see at C. E. S. Is consumers are expecting this from us. So what we um you know, to make it a reality for organizations, they need to build a purposeful capability in a couple of areas that are big bets to be able to power their business in the future. So what advice do you have for companies entering the Ai space? So one thing I would say is focus on pilots not proof of concepts. It's really easy to get caught up in 100,000 flowers in bloom as experiments hoping that something provides value. But what we see leading organizations are they're tackling this more from the top down, are identifying a couple of strategic big bets that will help them differentiate themselves from their competitors and then organizing their business to be able to make them a reality and win in the market. Alright, that was cheddar is Michelle Castillo Leo with dandy, ASIO EY Global and Americas artificial intelligence leader at C E S in las Vegas. The segment was brought to you by EY, helping you realize your transformation through the power of people, technology and innovation. You can visit EY dot com to learn more.