In this installment of Stock Takes, Rainar Essenson, a Senior Product Manager at Katana, explains AI’s impact on business, focusing particularly on the manufacturing and retail sectors and how companies can implement AI to enhance operations. He takes us through the evolution of AI, the rise of large language models (LLMs), implementation challenges, practical applications of AI for assisting in day-to-day tasks, and the future of AI.  

Key takeaways

• The evolution of AI — The advancements from big data and machine learning to the rise of LLMs.  
• AI in manufacturing — How large companies like Siemens and BMW use AI for predictive maintenance and quality control.  
• Practical uses for AI — Using LLMs to streamline operations in tasks involving unstructured data, such as inventory management. 
• Challenges with AI — Key challenges businesses face when implementing AI such as reliability, cost, and a mindset shift.  
• The Future of AI — Rainar’s predictions for a network of AI agents that can collaborate to handle complex business tasks.  
• Experimenting with AI — How businesses can try out AI tools that are already available without significant investment.