Six AI takeaways from Deltek's customer conference
At Deltek’s customer conference, Deltek Project Nation Live, AI evangelist Walter Pasquarelli took part in a fireside chat with Deltek leader Bret Tushaus. The two leaders touched upon six key takeaways for professional services firms looking to leverage artificial intelligence (AI).
Deltek is a leading enterprise resource planning (ERP) software, project management and information solutions provider, working with clients worldwide, including the five largest global accounting and consulting companies.
At the latest customer conference, held in London, Walter Pasquarelli, an internationally recognised speaker and expert on AI and data governance, took to the main stage with Bret Tushaus, Deltek’s Vice President of Product Management, to reflect on the advancements in the field of AI and how it can accelerate project-based businesses forward.
From exploration to implementation
Pasquarelli noted that “the narrative around Gen AI has matured significantly”. While most of 2023 saw businesses focus on understanding the nature of Gen AI, “what it is, how it works, and how it can help organisations derive value”, the world is moving beyond the hypothetical stage now. He explained that firms are no longer “just curious about generative AI” , they are “urgently seeking effective ways to integrate these technologies into their workflows.”
During their talk, Tushaus also shared feedback from Deltek’s customers, reporting that they often feel “overwhelmed by the possibilities yet excited about the practical applications that are becoming available”.
Further reading: AI is a top investment priority for consulting firms.
Putting potential to practice
The two experts built on this point by revisiting a five-step approach to implementing AI within business operations, which they had initially discussed last year. This included: demystifying AI as a concept; starting with use cases; conducting a ‘reality check’ of a firm’s capabilities to apply AI; piloting with a clear end goal; and setting out guidelines and rules on use to build trust.
Revisiting this proved a useful item on the agenda, as it clarified further how attitudes to AI have shifted.
“If anything, re-opening the discussion around these steps highlighted a shift from theoretical potential to practical, actionable strategies that businesses can adopt,” Pasquarelli explained. “In other words, while in 2023, most discourse focused on demystifying Gen AI, this time, it should be on articulating and defining use cases and developing them in alignment with an organisation's business objectives.”
Real-world challenges
Pasquarelli and Tushaus then explored real-world applications, discussing various tools and platforms on the market that could support project teams in increasing their productivity and efficiency. This saw them highlight several AI assistants in the process, examining the AI-powered actions which they offered to help companies improve everything from coding skills to professional writing.
In that context, Pasquarelli noted “We could not leave out Dela”, the AI-powered business companion Deltek launched earlier this year.
He went on, “From automating tasks and extracting insights from complex data to anticipating resourcing needs, Deltek's AI capabilities are designed to meet the unique needs of project-based businesses. Project teams using Dela benefit from increased productivity, reduced risk, cost savings and improved decision-making.”
Hype versus reality
Like many other forms of digital technology, Pasquarelli admitted the emergence of Gen AI and several large investments into its development had “created quite a buzz”. But while cryptocurrency, NFTs and the metaverse might not have delivered on their business promise (so far), he was keen to distinguish Gen AI from them – especially amid “a looming concern about an ‘AI bubble’.”
Pasquarelli expanded that he and Tushaus believe that professionals should “maintain a balanced perspective”, focusing on sustainable AI integration strategies and not simply “getting swept up in hype”. The reality, he contended, is that while not all new AI startups will survive in the next few years, “the cat is out of the bag”, and the ones that do survive will innovate the way the world does business.
Regulatory and ethical considerations
The idea of a ‘bubble’ is not the only concern companies are contending with around AI, either. The power of the technology has already alerted regulators to its potential abuse – and as AI becomes more entrenched in daily business processes, Pasquarelli said that “regulation and compliance have moved to the forefront”. In particular, the EU AI Act and similar regulations globally are shaping how businesses adopt AI.
Pasquarelli expanded that such regulations will “emphasise the importance of ethical considerations, data privacy, and compliance” as firms adopt AI technology. But to help clients navigate these concerns, Tushaus added that Deltek is taking a “proactive stance in embedding these considerations into their AI implementations” – helping lighten some of the load for businesses deploying AI technologies through their systems.
Future trajectory
Asked about the the future trajectory for the Gen AI market, Pasquarelli said that it was important for firms to stay informed about the latest trends and that the next six to twelve months were “crucial for businesses” looking to ensure their existing tools and workflows can work alongside AI implementations without disruption.
But beyond that, he pointed to two important trends he already saw as significant. “First, we will see the emergence of autonomous AI agents that can navigate the web and different environments and assist us more proactively in our daily operations. Second, AI will be integrated into hardware – ranging from new tools and devices competing with current smartphones to robotics applications to whom Gen AI represents the brain powering their actions.”
