A.SREENIVASA REDDY (ABU DHABI)
Aiden Insight, the AI application serving as an observer on the board of International Holding Company (IHC), is far from a general-purpose chatbot available on the Internet. It has been designed with advanced capabilities tailored specifically to meet the unique requirements of the company, the Abu Dhabi-based global diversified conglomerate said.
"Aiden Insight is deeply integrated with IHC's internal data, allowing it to provide highly relevant insights," IHC explained in response to specific questions posed by Aletihad about Aiden Insight's role as a non-voting observer on its board.
The sophisticated AI application uses advanced analytics and machine learning models to predict trends, identify risks, and optimise financial strategies. According to IHC, Aiden Insight has been instrumental in aiding board members to make informed decisions. "The platform also supports real-time collaboration with board members, making discussions dynamic and interactive," the company added.
In response to a question from Aletihad about whether Aiden Insight suggested the recently launched $5 billion share buyback programme, IHC clarified: “The programme was initiated by the IHC board, not by Aiden Insight. However, Aiden Insight supported the decision, recognising the board's rationale.”
The buyback programme was designed to enhance shareholder value by reducing the number of outstanding shares, potentially increasing earnings per share (EPS) and positively impacting the stock price. Aiden Insight endorsed this decision as appropriate, using relevant data points to back the board's rationale.
IHC highlighted several features of Aiden Insight that set it apart. The AI platform has been pivotal in helping board members shape the company's strategic direction.
Developed entirely in the UAE by Aleria, Aiden Insight ensures full data sovereignty. "The chatbot uses data without any external constraints or dependencies," IHC stated.
Aiden Insight can connect to any data source, including enterprise resource planning (ERP) systems, financial databases, and operational data streams,” the company added. This seamless integration allows the AI to access the most up-to-date and comprehensive data, enabling accurate and insightful analyses.
The platform enables board members to make data-driven decisions. “It provides instant updates on financial metrics, market trends, and operational performance, which is crucial for a company of IHC’s scale and complexity,” IHC said.
When asked if Aiden Insight has a physical or robotic appearance, IHC clarified that it is currently a “sophisticated software application accessed through our digital platforms.” The technology is designed to be highly flexible and scalable, ensuring it can adapt to the evolving needs of IHC and its diverse business segments.
Aiden Insight is not designed to engage in arguments but to facilitate constructive discussions. “If a board member expresses an opinion that differs from its recommendations, Aiden Insight presents the data and reasoning behind its suggestions, allowing for a thorough and informed debate,” IHC explained. Ultimately, all decisions remain with the board, with Aiden Insight serving to enhance the quality of those decisions.
Recalling an example of its utility, IHC noted: “During a recent board meeting, Aiden Insight identified a pattern in financial data that led to a significant cost-saving opportunity. This insight was not immediately apparent to human analysts.”
IHC also praised the collaborative mode of Aiden Insight, which allows multiple board members to interact with the platform simultaneously. “This feature has been instrumental in aligning different perspectives and ensuring all board members have access to the same information, fostering a more cohesive decision-making process,” the company added.