On the 28th episode of Enterprise Software Innovators, host Evan Reiser (Abnormal Security)  talks with Naresh Shanker, former CTO at Xerox and former CEO of PARC. Xerox is a foundational computing and technology company with over 20,000 employees and multiple spinoff companies operating at the frontier of modern technology. Before running IT and product teams at Xerox, Naresh was formerly the CIO at HP, Palm, and other notable companies. In this conversation, Naresh describes AI's impact on enterprise software, the importance of data strategy for successful AI applications, and how technology executives can empower teams using AI solutions.

In the rapidly evolving landscape of technology, innovation has been the driving force behind transformative change, and the profound recent impact of AI's latest capabilities on the enterprise landscape can not be overstated. Naresh discusses how new generative models are poised to impact the landscape, moving beyond the obvious applications to focus on specialized areas. Naresh highlights the benefit of predictive maintenance in manufacturing, transportation, and logistics industries, where AI can predict equipment failures, optimize maintenance, and save companies vast amounts of overhead in capital costs. "I think this whole space of predictive maintenance ensures optimal performance and extends the lifespan of a lot of this equipment, and that translates to millions and millions of dollars of capital being saved in this specific type of industry."

Naresh points out that AI's true magic lies in democratizing knowledge. As AI continues to democratize data and augment human capabilities, individuals across the globe gain access to information, fostering innovation and personal growth on an unprecedented scale. Whether data becomes more valuable due to differentiation or less valuable due to AI's accessibility is a question that permeates the thoughts of many industry leaders. Naresh astutely discerns between foundational and specialized data. Foundational data, he explains, may become commoditized, but specialized data, replete with intellectual property, regulatory nuances, and security requirements, will retain its intrinsic value. Naresh's thoughts extend to proactive data classification and governance, considering the diverse landscape of regional and global regulations. He advocates for adopting data classification models, an approach that ensures compliance and elevates the value of data-driven initiatives. "There are several complexities that come with this. And so the folks that get ahead of this will understand the issues, implications, ethics, and regulatory concerns that have to be addressed upfront and governed by policy upfront before you unleash the monster."

As Naresh points out, the latest AI wave is poised to empower employees to tackle more intricate tasks, thereby breaking down traditional job roles. As AI augments human intelligence, the workforce's adaptability and versatility become paramount. "Today, people have highly specialized and highly cross-functional roles. And you can envision a day when a lot of these roles are going to be interchangeable because the data and AI are going to power up people to be very intelligent cross-functionally and not have to be necessarily so specialized. So the future is going to be fungible intelligence and transferrable intelligence." Embracing continuous learning among team members is also vital to continued success. Leaders who wish to optimize teams must emphasize remaining informed about the evolving capabilities of AI and other next-generation technology in enterprise software.

Naresh imparts two invaluable pieces of advice for aspiring leaders in the enterprise space, given his experience as an industry legend. First, he advises professionals to construct a personal board of trusted advisors who provide diverse perspectives and guidance throughout their careers. Second, he underscores the significance of building a cohesive, collaborative team grounded in shared cultural values and a mission-driven approach. In essence, Naresh's journey and insights offer a profound glimpse into the world of innovation and AI. They illuminate the path to success in our ever-evolving technological landscape, underpinned by adaptability, collaboration, continuous learning, and an unwavering commitment to customer satisfaction.

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Listen to Naresh's episode here and read the transcript here.