Retail Associates’ Bo Lundqvist: We’re waiting for our friends at Microsoft to integrate blockchain

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Considering that businesses want to stay abreast with the latest technological advancements, Retail Associates spearheaded related discussions at the Future-Proof Tech Summit held at the Diamond Makati Residences last March 12, where industry trailblazers, innovators, and visionaries gathered under one roof.

The summit primarily focused on Software as a Service (SaaS)-driven business transformations. In its press statement, Retail Associates emphasized the importance of their focus.

“While cloud computing remains a cornerstone of modern business operations, we must also acknowledge the potentials of other transformative technologies, including SaaS solutions and beyond,” according to the organizers.

Their testimony underscores the importance of businesses embracing evolving paradigms to stay competitive in the digital age.

The summit had a stellar lineup of speakers, including participants from industry giants like Microsoft (NASDAQ: MSFT), Azure, Crayon, LS Retail, Shopify (NASDAQ: SHOP), Dotdigital (NASDAQ: DOTDF), and Sprout, along with the Bureau of Internal Revenue (BIR). Together, they shared their insights, expertise, and guidance on navigating the ever-changing technological landscape.

In my interview with Retail Associates CEO Bo Lundqvist, he discussed the intricacies of technology integration within the company. When questioned about blockchain technology, Lundqvist revealed that while they’re not currently utilizing it, they’re closely monitoring developments.

“We’re waiting for our friends at Microsoft to integrate blockchain within the dynamics portfolio,” he explained. “With the introduction of AI, blockchain is not too far off the entire implementation chain.”

His forward-thinking approach underscores Retail Associates’ commitment to staying at the forefront of innovation.

Another key area of interest we discussed was the integration of AI and data. Lundqvist emphasized the significance of AI adoption, particularly in the Philippines, where interest in the technology is thriving.

“AI adoption in the Philippines is going to happen very, very quickly,” he noted. “There is a tremendous interest for it.”

Lundqvist highlighted Retail Associates’ role in demystifying AI, making it more accessible to businesses seeking to leverage its potential.

From cloud computing to SaaS solutions, the Future-Proof Tech Summit provided attendees with strategic insights and practical implementation strategies across various technological fronts. Moreover, Lundqvist also discussed the complexities surrounding data ownership and analysis, highlighting AI as a tool to navigate these challenges.

“When we talk about data, we talk mainly about operational financial data,” he explained. “AI can analyze data, find relationships, and offer insights that may be difficult to discern otherwise.”

He also introduced the concept of integrating blockchain into this equation, acknowledging its potential to connect multiple entities in a transparent chain. Yet, he cautions that given the sensitivity of financial data, governance frameworks must be established to ensure responsible utilization of blockchain technology.

“Blockchain typically connects multiple entities to another in a chain…But of course, since financial data is also well-kept data, sensitive data, I’m assuming that some sort of governance conversations is going to have to be put in play before blockchain can be automatically available,” said Lundqvist.

Furthermore, Lundqvist expressed optimism about the rapid adoption of AI in the Philippines, citing the overwhelming interest among businesses. He emphasized the need for simplification and accessibility in AI adoption, a principle that Retail Associates embraces wholeheartedly.

The Future-Proof Tech Summit was more than just a gathering of industry leaders; it was about empowering businesses to thrive in an ever-evolving digital ecosystem. Attendees departed armed with a deeper knowledge and appreciation of the transformative potential of Cloud, SaaS, and beyond in today’s business landscape.

In order for artificial intelligence (AI) to work right within the law and thrive in the face of growing challenges, it needs to integrate an enterprise blockchain system that ensures data input quality and ownership—allowing it to keep data safe while also guaranteeing the immutability of data. Check out CoinGeek’s coverage on this emerging tech to learn more why Enterprise blockchain will be the backbone of AI.

Watch: What does blockchain and AI have in common? It’s data