Patrick Schwerdtfeger is a motivational speaker who can cover the business opportunities of artificial intelligence at your next business event. Contact us to check availability. The full transcript of the above video is included below.


Full Video Transcript:

Hi and welcome to another edition of Strategic Business Insights. Today we’re going to be talking about the business opportunity that’s presented to us by artificial intelligence and machine learning. And the reality is that we are optimizing our planet. Through technologies like big data, the Internet of things and indeed artificial intelligence, we are slowly but surely optimizing a million different aspects of our lives, whether it’s the buildings we inhabit, the tools we use, the processes we use around the world, the way we protect our planet or in fact the way we harm our planet. All of these things are being optimized right now with technology and there’s a huge opportunity with artificial intelligence for any business that sees this opportunity.

And let me make a comparison. Back to like 1950 to 1980, when essentially electricity was incorporated in devices all over the place, in other words, everything you can imagine was power was added to devices. So you can think about your toothbrush or the lawnmower or kitchen appliances or any tools, any number of things where people, businesses, basically took these various devices and added electricity. They added power. That was a huge opportunity at the time for companies to innovate and to improve these products with the new innovation, which was the power and its easy availability.

Well, we are just right now at the very beginning of another revolution where all these same devices and countless more are going to have intelligence, artificial intelligence, built into them. And you can think about some of the existing examples, which are very simple, but there’s outdoor lighting where there’s a sensor and it sees when there’s someone there when there’s movement in front of it the light turns on. That’s a little bit of intelligence that’s added to that light bulb. It only turns on when there’s someone there. The second is, for us guys, is urinals in the bathroom or even toilets. Quite often they have sensors now, so we don’t have to flush them ourselves. The toilet knows when there’s somebody there and as soon as the person leaves the toilet flushes itself. That’s a little bit of artificial intelligence right there. It has an awareness of what it’s supposed to do and when the right time is to do that.

But imagine all of the other devices that over the course of the next five to 10, maybe 15 years, are going to be revolutionized by adding intelligence to these devices. And again, you could go back to the toothbrush or the lawnmower, the kitchen appliances, suitcases, the cars, the vehicles we drive and the smartphones that we use, the clothing that we wear and the tools that we use, not just consumer goods, but maybe the bigger opportunity is in the B2B space, the business-to-business space. So devices that companies use, whether it’s inside their factories or in the hands of their salespeople or wherever it might be, there’s going to be intelligence added to all of these devices.

And the real question is, which person and which business is going to see that opportunity and begin making those innovations? This is an exciting time to be in business. If you see the opportunity, there is indeed opportunity all around us. It’s an exciting time.

Thank you so much for watching this video. My name is Patrick, reminding you as always to think bigger about your business, think bigger about your life.

Patrick Schwerdtfeger is a keynote speaker who has spoken at business conferences in North America, South America, Europe, Africa, the Middle East and Asia.