AI is only as good as the data you feed it. Bad data produces amplified bad outcomes. Before deploying AI, organizations need a solid foundation: clear value proposition, understanding of people and processes, and the right technology stack.
What what this when our foreign minister went overseas to talk about AI, he said this one thing that is really interesting: It is your second brain, right? So of course, if you feed it stupid things, it becomes very stupid, right? If you feed it good data, right, it becomes a very good helpful assistant, right, to to the to an entire ecosystem of that you have in your business. Your data matrices is all off, it's all messy, and it's totally not being well managed, what happens is that the AI will just give you the same amount of rubbish. In fact, it magnifies the problem even much bigger.
Regardless of what you want to do, whether you envision AI as a big part, I think the takeaway from that is it's not going to go away. AI clearly is an important tool, but regardless of whether you believe in it, whether you want to use it, You still need a good foundation.
I think for NetSuite and for Tenderboard, each time when we go in, we always ask about this question about what is your business really about. And strangely, I used to run a business as well, and sometimes I also have to ask myself, what is my business about? And strangely, a lot of people actually do not know. Especially when you ask this question, what is your value proposition as a company? Always start from there because it is the very reason the business is successful. It makes your business successful. And then the next thing that we look at is like, who are your people? What is the process that you have? How is your business being structured? And what is the technology stack that you have supporting your company at this current time? And of course, the value proposition and what are the best-in-class— how do you select a best-in-class vendor for your business as well? So the last thing you want is to try to get a system and then you over-customize it to do what it's not supposed to do or what it's not the best at. So that's why I think we work very well together with Tenderboard is because you do provide a very good best-in-class procurement management system, which is really impressive.
