Click here to learn more about Nedbank Retail Services.<\/strong><\/a><\/li>\n<\/ul>\n\n\n\nAccording to Phillips, one of the biggest mistakes franchisers make is that they only think of AI in the context of generative models \u2013 like ChatGPT.<\/p>\n\n\n\n
In reality, it extends to many other areas \u2013 such as machine learning, predictive analytics, and computer vision.<\/p>\n\n\n\n
Across all these use cases, one of AI\u2019s greatest strengths is handling imperfect data.<\/p>\n\n\n\n
\u201cAI handles messy data really well, and we can help it by building an architecture around our data to help the system better understand it,\u201d said Phillips.<\/p>\n\n\n\n
She also highlighted that many businesses feel they are ready for AI \u2013 but have not taken the next step because they don\u2019t know where to start.<\/p>\n\n\n\n
The best way to solve this is to decide today what your business values are, and use these to guide responsible AI implementation.<\/p>\n\n\n\n
Data sovereignty and compliance<\/h2>\n\n\n\n
Phillips also reminded franchisers about the importance of data sovereignty, given the legal and operational implications of where data is stored and how it moves between systems.<\/p>\n\n\n\n
She warned that every data transfer increases exposure to cyber risk, which is especially important when handling personal or protected information.<\/p>\n\n\n\n
As a result, franchise owners must take control of their data-sharing settings when using AI tools and use enterprise-grade solutions designed for secure business environments.<\/p>\n\n\n\n
Furthermore, Phillips highlighted that many companies are now running private AI models on their own servers to keep sensitive information in-house while still benefiting from tailored insights.<\/p>\n\n\n\n
She explained that this approach is increasingly viable due to lower costs and simpler deployment options, which enable organisations to extract value from AI without compromising confidentiality.<\/p>\n\n\n\n
How Nedbank supports franchisers<\/h2>\n\n\n\n
Nedbank hosted this impactful event because it is committed to helping its franchiser clients grow their brands.<\/p>\n\n\n\n
Not only does this support the franchiser, it also helps their franchisees, thereby contributing to economic growth in South Africa.<\/p>\n\n\n\n
\u201cNedbank fully appreciates the importance of AI in today’s operating environment and, as always, we strive to bring our clients the best tools, advice, and partnerships to help them stay ahead,\u201d said Karen Keylock, National Retail Manager for Retail Services at Nedbank Commercial Banking.<\/p>\n\n\n\n
\u201cThrough our collaboration with Franchise Coaches, we create opportunities for franchisers to learn from leaders like Loren and translate those lessons into practical strategies for growth.\u201d<\/p>\n\n\n\n
\u201cThe beauty of banking with Nedbank is that you have a partner that is strategically aligned to your growth narrative, supports you with your financial needs and business aspirations, and helps your business unlock the next level of growth,\u201d said Keylock.<\/p>\n\n\n\n
Click here to learn more about Nedbank Retail Services.<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Nedbank shares expert insights to help franchisers use AI strategically for growth.<\/p>\n","protected":false},"author":57,"featured_media":845245,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10459],"tags":[8556,24303,1799,24302],"class_list":["post-845242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","tag-ai","tag-franchisers","tag-nedbank","tag-nedbank-retail-services"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/845242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=845242"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/845242\/revisions"}],"predecessor-version":[{"id":845269,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/845242\/revisions\/845269"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/845245"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=845242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=845242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=845242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}