In an interview with Byron Connolly, Head of Programs & Value Engagement at ADAPT, Dr. Michael Kollo, CEO of Evolved.AI, delves into the impact of generative AI across industries, particularly focusing on its pivotal role in the second wave of AI. 

The Role of Generative AI in Modern Enterprises  

With Dr. Kollo at its helm, is at the forefront of leveraging generative AI technologies. The organisation assists companies in maximising the benefits of generative AI, from executive workshops to developing custom software solutions.  

Dr. Kollo’s insights shed light on the adoption trends in 2023 and the expected deeper integration in 2024.  

In 2023, many enterprises experimented with these tools, and 2024 marks a year of deeper integration and scaling.  

The effectiveness of generative AI tools, particularly in language applications such as document creation, reporting, and customer service, varies significantly among industries.  

For some, these tools have become a top priority, necessary for staying competitive, while others view them as productivity enhancers. 

 

The Industry Landscape and Adoption Challenges  

Interestingly, Dr. Kollo observed that small to mid-sized companies have been more agile in adopting and experimenting with generative AI, particularly in financial services.  

Larger companies, like CBA, are integrating these tools into their existing AI frameworks.  

However, challenges persist, including the need for careful deployment, understanding limitations, and regulatory uncertainties. 

 

Understanding and Utilising AI Effectively  

One of the key insights from Dr. Kollo is the importance of understanding the capabilities and limitations of AI.  

There is a tendency to overestimate its potential, leading to unrealistic expectations.  

He advocates for a pragmatic approach, focusing on AI as a tool for specific tasks like communication and report writing, rather than an all-encompassing solution. 

 

Who Should Drive AI Adoption?  

Dr. Kollo addresses the crucial decision of AI adoption ownership within organisations.  

He suggests a balanced approach where technical support and governance may be centralised, but the economic value and application of AI should be directed by business owners, ensuring alignment with business goals. 

Dr. Kollo joins 150 CIOs and IT leaders at CIO Edge, discussing How to Prioritise and Lead a Progressive Technology Strategy. 

Contributors
Byron Connolly Head of Programs & Value Engagement at ADAPT
Byron Connolly is a highly experienced technology and business journalist, editor, corporate writer, and event producer, and ADAPT’s Head of Programs and... More

Byron Connolly is a highly experienced technology and business journalist, editor, corporate writer, and event producer, and ADAPT’s Head of Programs and Value Engagement.

Prior to joining Adapt, he was the editor-in-chief at CIO Australia and associate editor at CSO Australia. He also created and led the well-known CIO50 awards program in Australia and The CIO Show podcast.

As the Head of Programs, Byron creates valuable insights for ADAPT’s community of senior technology and business professionals, helping them reach their organisational and professional goals. With over 25 years of experience, he has a passion for uncovering stories about the careers and personal philosophies of Australia’s top technology and digital executives.

When he is not working, Byron enjoys hot yoga, swimming, running, and spending time with his family.

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Dr. Michael G. Kollo Director of AI at ADAPT
Dr. Michael G. Kollo is recognised as an accomplished executive leader and educator within the realm of artificial intelligence’s significance in business... More

Dr. Michael G. Kollo is recognised as an accomplished executive leader and educator within the realm of artificial intelligence’s significance in business strategy and product development across various sectors including financial services, technology, and public services. Holding a portfolio of leadership roles, Michael has contributed his expertise to renowned institutional investors such as Blackrock, Fidelity, Renaissance Asset Management, Axa Investment Managers, and HESTA. Additionally, he served as a non-executive director for Clime Investment Managers, an ASX-listed entity.

In the entrepreneurial sphere, Michael has been involved with AI and software companies, notably as a key figure at Faethm Pty, an Australian AI software company that was acquired by Pearsons in 2021, and at the Blockchain company Clanz. Beyond entrepreneurship, he actively participates in mentoring and supporting fintech and cybertech startup ecosystems in London and Australia.

In the realm of academia, Michael boasts a PhD in Finance from the London School of Economics, coupled with extensive lecturing experience at esteemed institutions such as the LSE and Imperial College. He has also been invited as a speaker at TedX events, focusing on the responsible utilisation of AI. With publications addressing machine learning’s application in investment management and contributions to the World Economic Forum’s AI/Fintech panel, Michael’s expertise is widely recognised. Moreover, he has cultivated a global audience through educational podcasts like “Curious Quant.”

As well as Director of AI at ADAPT, Michael is also the CEO of Evolved AI, a distinguished executive education and software development firm dedicated to empowering individuals through effective and responsible AI usage, thereby fostering resilient, transparent, and rapidly evolving enterprises.

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