The Momentum conference, attended by approximately 1,000 participants, showcases the advanced capabilities of Manhattan Associates (NASDAQ: MANH), a leading provider in warehouse and TMS solutions. The company’s stock, which rose from around $110 in October 2023 to a high of $266.94 in early March, currently stands at $225.
Amidst discussions on new product offerings, a keynote by Warren Barkley, head of product-Vertex AI, GenAI, and machine learning at Google Cloud (NASDAQ: GOOG), captivated a near-capacity audience on Wednesday. Barkley highlighted the swift and significant impact generative AI is already having on supply chains, emphasizing its exponential growth and practical applications.
Barkley explained that GenAI models, which previously used millions of parameters, now leverage trillions of records, vastly enhancing their capabilities. These models can now provide context, allowing them to infer information even if specific data is not input by the user. For example, a GenAI tool can generate an image of a pet cat from a description of a furry animal with a tail, even if the word “cat” is not mentioned.
He provided real-world examples of AI in action, such as:
- A British company using AI to ensure contract compliance with Brexit regulations, significantly reducing manual labor.
- An initiative to interpret California’s complex governmental regulations.
- A food company developing a standard international procurement contract using AI to process data from multiple countries.
“Last year was a year of proof of concepts,” Barkley noted. “This year, we’re seeing significant investment in AI applications.”
During the conference, Manhattan Associates announced the integration of a GenAI-powered chatbot, Manhattan Active Maven, into its flagship product. This chatbot offers native access to orders, payments, store locations, and product availability. Additionally, they introduced Manhattan Assist, a GenAI assistant providing contextual responses about product functionality.
Barkley emphasized the transformative potential of AI beyond mere efficiency improvements. He illustrated this with the example of pharmaceutical development, where AI can quickly analyze and create new chemical compounds, a task previously requiring extensive specialist work.
Generative AI also enables personalized marketing. Barkley showcased an AI-generated image of himself with a Texas background, demonstrating how similar technology could be used to target individual customers.
To successfully implement AI, Barkley advised companies to prioritize values, build expert teams, experiment with applications, collect data, integrate with existing systems, and expand gradually. He stressed the importance of trustworthiness, cautioning against early AI outputs that may be inaccurate or misleading.
Collaboration is crucial, according to Barkley. “Finding a partner who can align with your goals is critical,” he said, mentioning Manhattan Associates as a key integrator of AI solutions. He also highlighted the significant reduction in AI implementation costs, which have dropped by a factor of 40 over the past year.
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