Harnessing AI To Accelerate Business Insights With Alan Spanos and Chad Macey of ICIS - Ep. 197

Discover how AI is becoming as essential as the internet or mobile phones in the chemical industry with guests Alan Spanos and Chad Macey from ICIS. Alan explains the vision of being a supportive sidekick to customers while discussing the main barriers to AI adoption, emphasizing the importance of trust and effective communication. Meanwhile, Chad highlights the significant role of AI tools in improving decision-making and productivity, and addresses the ethical considerations and potential risks associated with AI technology.  Victoria Meyer and her guests delve into personal anecdotes illustrating the rapid evolution of technology, comparing past skepticism about the internet to current acceptance. The conversation progresses to the innovative AI applications at ICIS, such as the ASK ICIS tool, designed to save users time by providing focused, reliable answers from vast data sets. Highlighting transparency, customer support, and continuous innovation, the episode underscores the transformative potential of AI in the chemical industry, all while ensuring ethical usage and customer trust.    Learn more about the following topics this week: The role of technology in chemicals today AI adoption and barriers and the future of work Client engagement with AI and technology tools today Ask ICIS: how are clients are engaging and getting value from ICIS' gen AI tool Trust and transparency in AI: concerns about AI "hallucinations" and ensuring reliable outputs   Killer Quote: "The future of AI in business is not about replacing human expertise but augmenting it. It's about transforming mountains of data into actionable insights, empowering decision-makers to steer their companies towards smarter, faster, and more innovative paths." -- Alan Spanos    Other links:   Download: 10 Leadership Lessons for Chemical Executives  Download: 7 Trends Shaping the Future of the Chemical Industry  Ask ICIS  John Richardson Episode 179: How the Global Chemical Market is Shifting with John Richardson of ICIS  John Richardson Episode 144: Petrochemicals in 2024: Capacity Overbuild and Codependent Markets with John Richardson of ICIS  John Richardson Episode 102: China’s Aging Demographics and the Future of the Chemical Industry with John Richardson  John Richardson Episode 79: How The China Market Affects Chemical Prices With John Richardson  John Richardson Episode 36: How China’s Response To Chemicals Is Affecting the World With John Richardson of ICIS  John Richardson Episode 22: Understanding Market Demand To Manage Your Business Amid Uncertainty With John Richardson  Subscribe to The Chemical Show on YouTube    ***Don’t miss an episode: Subscribe to The Chemical Show on your favorite podcast player.  ***Like what you hear? Leave a rating and review. ***Want more insights? Sign up for our email list at https://www.thechemicalshow.com  Thank you to our sponsors: Celebrating 40 years, the World Petrochemical Conference by S&P Global is the most prestigious global industry gathering for chemical innovation, insight, and collaboration. WPC has a rich history of providing unmatched market intelligence and convening top industry leaders and influential thinkers to discuss the solutions that will unlock pathways for growth and transformation. Join us in Houston, TX, March 17-21, 2025, to commemorate our 40th Anniversary!  Visit their website to learn more. Transforming data into decisions with GenAI precision Access the breadth and depth of ICIS intelligence Fast, reliable answers to your market questionsInsights your way – from summaries to detailed reports  Ask ICIS, your AI assistant Visit ICIS.com/ask