Three Things I Learned at Web Summit 2022

Our plan was successful! Paretos took part in the 2022 Web Summit, the biggest global tech conference on the planet. In his keynote, Thorsten Heilig, paretos’ CEO & Co-Founder, discussed the connection between Mike Tyson and Decision Intelligence. The video of the occasion and a rundown of key points are available here.

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November 8, 2022
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Decision Intelligence

The Web Summit in Lisbon attracted an incredible number of attendees again, this time more than 71,000. The Guardian once called the event the “Glastonbury for Geeks” – and indeed it was! It really had a festival-like atmosphere, uniting professionals with a shared spirit from all over the world. It offered a fantastic chance to network with individuals from myriad diverse industries and perspectives. This year we had the opportunity to present paretos to an international audience and showcase the megatrend Decision Intelligence.

How do you summarize such strong impressions? With a heavy heart I’ll leave out all of the great side stories and focus on the three most crucial things that I learned.

1. Decision Intelligence (DI): from trend to must-have

I had the privilege of presenting paretos to the Web Summit, one of the world’s largest tech platforms, as a keynote speaker and participant. The event also provided me with a unique chance to extensively raise awareness of the topic of Decision Intelligence with just a single appearance. Mike Tyson’s quote, “Everybody has a plan until they get punched in the face” conveyed the importance of DI very effectively. After all, in the coming years, companies will face the challenge of managing complex business decisions that can only be tackled via DI.

And indeed, DI had already established itself as a recognized term at the Web Summit. This means that at long last our field is no longer considered to be “new territory”. The global market for Artificial Intelligence (AI)-powered decision support is projected to grow from USD 10 billion in 2022 to USD 22.7 billion in 2027, according to consulting agency, MarketsandMarkets. This indicates that DI has firmly entered into corporate strategy decisions thanks to its efficiency. Moreover, IT analysts from Gartner predict that by 2023 a minimum of one-third of large organizations will be utilizing DI. Because of this I am certain that even more speakers and exhibitors will deal with this topic at the next Web Summit in 2023.

2. AI developments become more accessible

The keynotes and talks at the conference provided an incredibly comprehensive insight into the development status of the different tech disciplines and their applications. This opened up a picture for us that could never be drawn just from statistics and individual publications. What’s particularly exciting is that the topic of AI in applications is now actually playing out on more and more levels. And it’s clear that a new stage of development has been reached where AI is gaining acceptance and application on an increasingly broad basis within companies and society.

3. Stay focused! Make a plan for mega conferences

I recommend that you take full advantage of the huge opportunities offered by the Web Summit by carefully planning your visit from a business strategy point of view. The event offers so much thematic input and such a wide range of contacts that the sky’s the limit. This mega-event offers the best face-to-face connections, the most exciting cross-connections and so many completely unexpected encounters that it’s easy to become distracted so stay focused and stick to your plan. I have come to the conclusion that if you clearly define your focus and know which topics and speakers will bring you and your business forward – and where you can collect the most valuable leads – then you will leave the conference with a plethora of priceless insights and contacts.

We are the leading AI-based decision intelligence platform for effective, data-driven decision-making processes in companies. No more bad decisions!
Thorsten Heilig
CEO & Co-Founder
Technology is critical to solving complex challenges and scaling businesses - from accelerating business growth to managing agile transformation or managing change.

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