About 75 business leaders attended the Guilford Business Summit at Sternberger Auditorium.
“What we’re already seeing from companies implementing AI is that they’re using it to derive insights from their data — and that data is driving growth. “They’re growing now — not in the future, but right now.”
Game-changer – it’s a phrase Lenovo’s Tom Butler says he finds himself using a lot these days when talking about artificial intelligence.
And make no mistake: AI is changing the game. It’s helping doctors detect life-threatening infections more quickly, giving them a critical head start in saving lives. It’s bringing banking access to people in developing countries who’ve never had it before. Most importantly, says Tom — Vice President of Worldwide Commercial Portfolio and Product Management at Lenovo — it’s a tool any business, big or small, can use to grow.
“What we’re already seeing from companies implementing AI is that they’re using it to derive insights from their data — and that data is driving growth,” Tom says. “They’re growing now — not in the future, but right now.”
Tom was one of several AI experts who spoke at the annual Guilford Business Summit on Thursday, where about 75 business leaders from across the Triad gathered to explore how AI can benefit their businesses, too.
The key, Tom says, lies in the data. “Data is the new gold in the AI era,” he explains. “Your data — and what you do with it, how you capture, control, use, and refine it — is going to determine your success with AI. We’re seeing customers transform how they think about data — not just securing and protecting it, but truly leveraging it.”
Still, Tom notes, the biggest barrier keeping companies from embracing AI is knowing where to start. Only 17% of business owners feel empowered to develop AI solutions, and just 33% can demonstrate a return on investment.
“We’re in the AI era, but we’re just getting started,” he says. “And like everything in tech, it’s moving faster than you think.”
The Guilford Business Summit brings together some of the brightest business minds in the country to share their insights with the Triad community. Past speakers have included Tom Barkin, President and CEO of the Federal Reserve Bank of Richmond; Dhruv Agarwal, Vice President of Sustainability, Innovation, and Development at Greensboro-based Kontoor Brands (the parent company of Wrangler and Lee); Dale Folwell, North Carolina State Treasurer; and Hope Williams, President of N.C. Independent Colleges and Universities.
The Business Summit was made possible by Presenting Sponsor Truliant Federal Credit Union, Leadership Sponsor NASDAQ, and Fred ’77 and Barbara Taylor.
Looking ahead, Michael Dutch — Macon Professor of Business, Chair of the Department of Business and Accounting, and MBA Director — hopes future summits will continue to explore the ever-evolving business landscape.
He says Guilford is the ideal host for these conversations. “Guilford is a great liberal arts school with strong business programs,” Michael says. “The Business Summit is a way to let the community know that exciting things are happening here.”