Finat on harnessing disruptive technologies for strategic growth

The Finat European Label Forum 2024 has explored the potential of artificial intelligence (AI) during the fourth session of the event, addressing both the opportunities and challenges this disruptive technology poses to the label industry.

Presented by Katie King and Dieter Tschemernjak, the session offered a comprehensive exploration of AI’s role in driving innovation, improving operational efficiencies and maintaining competitive advantage.

Katie King emphasizes AI's pivotal nature as the defining technology of our generation. Far from being confined to futuristic dreams, AI is deeply embedded in practical applications that revolutionize industries, including the label sector. King's presentation underscored AI's dual nature as a tool for augmented intelligence rather than a job-replacing force. Automating repetitive tasks enables professionals to focus on strategic, value-added activities.

King conducted live audience polls to gauge sentiments about AI. Attendees highlighted concerns about job redundancy, privacy and cultural shifts. However, she argued that AI, when applied ethically, enhances rather than diminishes human roles, offering tailored insights and fostering stronger customer connections.

Tschemernjak built upon King’s foundation by framing AI as a disruptive force with significant implications for strategic and innovation processes. Drawing parallels to historical disruptions like the digital camera revolution, Tschemernjak warned that industries failing to adapt to AI risk obsolescence. He advocated adopting AI-driven tools for efficiency, redefining strategy, and fostering creativity.

Tschemernjak highlighted AI's capacity to accelerate data analysis and interpretation, enhance competitive intelligence, enable scenario planning and innovation forecasting and streamline cross-functional collaboration.

By integrating AI into innovation workflows, companies can transition from reactive to proactive approaches, staying ahead of industry trends and customer needs.

Both speakers explored AI’s specific applications within the label industry, including AI-powered printing and packaging: quality assurance, sustainability Initiatives and customer experience.

Tschemernjak also introduced Inno-Verse, an AI platform to transform strategy and innovation processes. It supports trend monitoring, competitive screening, and collaborative workspace functionality, offering tailored insights to drive decision-making.

A recurring theme was the ethical use of AI. King and Tschemernjak stressed the need for regulation and transparency to address privacy concerns, mitigate biases, and prevent misuse. The EU's recent binding laws on AI were cited as a step forward, but international collaboration remains vital.

Key recommendations for organizations included establishing cross-departmental AI task forces to monitor trends and implement best practices, fostering a culture of agility and inclusion, developing ethical frameworks to maintain customer trust and compliance and actionable insights and roadmap.

The session concluded with a pragmatic roadmap for integrating AI into organizational strategy.

The session underscored that AI is not a distant phenomenon but a present-day catalyst for transformation. For the label industry, adopting AI means not just staying competitive but leading innovation. As King aptly summarised, AI offers tools to augment human intelligence, driving progress across all facets of business. The challenge now lies in harnessing its potential responsibly and strategically.

Finat is looking forward to welcoming the label industry to continue the dialogue at the upcoming European Label Forum on May 21-23, 2025 in Amsterdam, The Netherlands. More information will be available at the beginning of 2025.