AI Revolution Reshapes Business Value, Human Role Shifts, Israeli Tech Leaders Discuss

The EY Journey conference convened Israeli and international entrepreneurs, investors, and tech leaders to explore business growth strategies in the era of artificial intelligence. The event, themed "Into the Wild," focused on AI's transformative impact across various sectors, including cybersecurity, robotics, medicine, and defense.

Noam Kanti, Co-CEO of EY Israel, opened the conference by highlighting AI's shift from tools that assist workers to systems that make decisions and perform tasks independently. He noted the value proposition changing from "use our tool to do the job" to "tell us what you need, and we'll do it for you," significantly expanding the market for tech companies. Kanti emphasized that for every dollar invested in software, six dollars are invested in the people executing the work, raising strategic questions about outsourcing and retaining core competencies.

Kanti predicted that AI-driven companies would increasingly compete with traditional businesses, starting with information-intensive sectors like banking, insurance, and professional services. He stressed the importance of proving that complex implementations can lead to profitable growth, stating, "The test is whether what you learned with the first client allows you to serve the fifth client faster, otherwise it's a new consulting business with a very impressive demonstration."

Regarding the future of work, Kanti asserted that as AI becomes more prevalent, human judgment, organizational understanding, persuasion, and accountability will gain greater value. "People will take on roles of planning, building, and managing agent systems. The human value is not disappearing. It is changing its place," he stated. He also noted that AI could help Israel overcome labor limitations and leverage its high-tech advantages like curiosity, creativity, and improvisation, attracting buyers from traditional industries.

The conference, held annually since 1997, featured various sessions including a gathering of managing partners from Israeli venture capital funds, a CISO Unfiltered event connecting international CISOs with Israeli cyber entrepreneurs, and the "The Pitch" startup competition, won by FiBreath, a company developing inhalable drug delivery platforms.

Discussions also covered the long-term challenges of building enduring investment firms, investment trends, the convergence of technology and finance, and the strategies for building successful global cybersecurity companies. Panels explored investing in AI-driven businesses, the integration of AI into corporate DNA, and the application of AI in marketing, sales, and healthcare. A "Time Capsule: Israel 2036" session presented visions for the next decade, while other discussions focused on M&A activity, with insights from both buyers and sellers in major deals. The event also included a session on the future of work and HR leaders' perspectives on technology's impact on human capital.