Whether discussing artificial intelligence, machine learning or large language models, the message is the same: Adapt or die.
COVER’s inaugural Innovators Network event saw 60 executives getting together in a round table setting, all with a keen interest in AI and with executive responsibilities as CEO, CIO or CTO and representing all the major insurance companies in South Africa. Sponsored by Microsoft and Sapiens, the day left everyone with innovation strategies for their teams. The brief synopsis below and the articles in this feature represent my take-outs from the various presentations. Feel free to watch the videos here.
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- Embrace Change with Boldness
Across all the stories—whether OMI’s pivot, Microsoft’s approach to AI ethics, or executive education on AI—the importance of bold decision-making stands out. When faced with obstacles, organisations must be willing to pivot, recalibrate, and adapt to new realities. Being decisive, even mid-project, can unlock better outcomes and long-term success.
- Collaboration is Key to Success
Success in the rapidly evolving technological landscape requires partnerships and alignment across teams, organisations, and external stakeholders. Whether it was OMI rallying support from Databricks and AWS, or Sapiens partnering with Microsoft to enhance decision-making tools, collaboration accelerates innovation and ensures shared goals are met efficiently.
- Education and Continuous Learning are Critical
From Viren’s emphasis on AI literacy for executives to Siya Madyibi’s call for inclusiveness and transparency in AI, one clear takeaway is the need for ongoing education. Organisations must ensure that leaders, employees, and systems remain updated with the latest technological and ethical frameworks to drive informed decision-making.
- Prioritize Ethics, Fairness, and Accountability in Technology
As highlighted by Siya Madyibi and Rupert Nicolay, technology must align with ethical principles to build trust and ensure equitable outcomes. Addressing biases in AI, ensuring data privacy, and implementing transparent practices are non-negotiable for responsible innovation, especially in highly regulated and sensitive sectors like finance and healthcare.
- Focus on Long-Term Sustainability Over Short-Term Wins
The consistent theme across all discussions was the importance of aligning technological initiatives with long-term strategic goals. Be it OMI’s emphasis on scalable architecture, Buganim’s vision of co-agent ecosystems, or Nicolay’s roadmap for generative AI, the message was clear: avoid short-term “tick-box” solutions and aim for systems that deliver enduring value.
These lessons underscore the shared insights across the Innovators Network: Strategic foresight, collaboration, education, ethics, and a focus on sustainability are essential for navigating and thriving in the evolving technological landscape.