Interview with Nav Dhunay, founder & CEO at Imaginea Ai
In this interview, Nav Dhunay, founder & CEO at Imaginea Ai speaks about the need to overcome psychological barriers to embrace technology, how AI can pave the way for real transformation, how proper education around new technologies and collaboration is critical for improved implementation. Nav is one of the leading figures in oil and gas technology innovation and is a serial entrepreneur having attained a hard-won collection of tech startup hits in his repertoire
TDE: Tell us a little about your business and your specific role?
Nav Dhunay: I’m the founder and CEO of Imaginea Ai. We are in the process of building the Imaginea Artificial Intelligence Ecosystem, an infinitely scalable platform designed to put precision artificial intelligence (AI) technologies in the hands of individuals and organizations around the world, democratizing its availability.
Our platform is powered by Blockchain and we will officially be launching our fully regulated Security Token Offering (STO) in the coming weeks.
My role within the day to day running of the company is to ensure that each member of team is empowered to do their best work. I’ve built several technology-focused companies during my career and have seen first hand that every great innovation comes from strong teams who collaborate and actively experiment.
TDE: What is the typical nature of challenges you encounter – or expect to encounter – from enterprises looking to move the needle on digital transformation?
Nav Dhunay: Fear, I think, is number one. Throughout history, major technological change has always been met with a certain level of fear and it’s certainly a challenge that we regularly see in businesses in the early stages of adopting new and progressive technologies.
We are living in a time where technology is evolving at an incredible pace and, although we do seem to be gradually moving away from the science fiction-based fear of sentient robots taking over the world, there are fears around jobs being lost to increasingly sophisticated technologies.
We also find there are concerns around the perceived security risks of adopting new technologies. These concerns can be legitimate in some cases but can often be overcome through understanding the ways that risks can be mitigated with proper foresight and organization-wide diligence.
TDE: Using technology to affect transformation usually starts with a transformation of beliefs and mindsets. Do you plan to consult clients and help them make that important shift in mindset to move ahead on a particular project or Implementation?
Nav Dhunay: Having clients that do not fully believe in or understand a new system often leads to issues down the line. When it comes to AI, it can often be a tool that enables individuals and teams to be more effective rather than replacing them and once that is properly demonstrated, it can pave the way for real transformation.
AI is already becoming pervasive and adopting tailored solutions can ensure businesses stay competitive and operate in the most efficient ways possible. This can be met with some resistance but examples are increasingly easy to point to. Modern day retail for one heavily depends on AI. From automating delivery routes and predicting buying trends, to improving online conversions through AI-powered website testing, the technology touches more and more points within the path from product creation to consumer purchase.
TDE: What processes are useful when implementing digital technologies for clients?
Collaboration is key.
Having key stakeholders involved in both directing the creation of, and implementing, a new solution means that it will be clearly tailored to solving the problems they have encountered. With a clear understanding of how solutions are developed, clients will far more quickly become partners and help to iterate technologies so they can be consistently adapted and improved.
Proper education around new technologies is also an incredibly important component as it helps to highlight and address concerns and provide clarity around the cost benefits of an implementation.
AI is going to create many new positions. Not only will there be a demand for developers to create and refine the AI solutions across industries, but also managers to oversee them and a highly trained workforce required to operate and improve them. This is why collaboration and understanding within the whole of a client’s team is so important, and why we look to involve all key stakeholders as early as possible in any new implementation.
TDE: What present or upcoming technologies you think have the maximum potential to accelerate enterprise digital transformation?
Nav Dhunay: We certainly see artificial intelligence as the most disruptive technology with the greatest potential in the world right now. It is hard to imagine an industry that AI doesn’t have the power to influence in a significant way and early adopters are already seeing competitive advantages.
Blockchain technology is also going to play an increasing role in a multitude of industries. When using Blockchain, the ledger is shared between all parties involved, making it far more secure and fair. This increased security means that even if two parties don’t necessarily fully trust each other, they can trust the innate compliance features of the technology itself. These “smart deals” are set to become a standard in business transactions.
TDE: What’s your go to resource – websites, newsletters, any other – that you use to stay in touch with the explosive changes happening in the digital space?
Nav Dhunay: I do source information on emerging trends within AI and tech in general from a number of sources. A few of my favourites are:Medium KD Nuggets CB Insights Tech