18 Jan 2025

Publicis Sapient CEO Nigel Vaz on the Impact of AI on the Economy

Publicis Sapient CEO Nigel Vaz on the Impact of AI on the Economy

Nigel Vaz of Publicis Sapient explores the link between AI and deflation, insisting that the most effective strategy for business owners is to rapidly adopt artificial intelligence tools.

On this page

Nigel Vaz, CEO of the consulting firm Publicis Sapient, has devoted his life to the realm of digital transformation. Sapient, founded back in 1990 in Massachusetts, transitioned into the ownership of French advertising titan Publicis eight years ago through a significant transaction valued at $3.7 billion. Nigel Vaz has been recognized as one of the Top 25 Global Leaders by the New York-based Consulting Magazine.

Nigel Vaz on the Impact of AI on the Economy Source: youtube

Nigel Vaz on the Impact of AI on the Economy Source: youtube

Vaz's role involves advising the world's most prominent corporations on business transformation initiatives. His steadfast faith in the capacity of technology to enhance human life was forged during his childhood. Struggling with dysgraphia, a disorder that impairs fine motor skills, he faced challenges holding a pen or pencil and couldn't write. Fortunately, during that era, mankind had already invented not only the typewriter but also the computer. This ability to type provided Nigel with the technological superpower that enabled him to communicate effectively and, ultimately, unleash his intellectual potential. Today, he champions the belief that AI has emerged as a transformative power across diverse industries. Artificial intelligence has fundamentally revolutionized how businesses operate and has opened up novel opportunities for economic growth

When you think about the ability for businesses to serve customers in lower cost more efficient ways, AI is a huge accelerant to what they're trying to do, which means they achieve growth with lower costs

Nigel Vaz elaborates

The application of AI, for example, in the hospitality industry, banking, retail, or healthcare, enables the automation of routine tasks, enhanced risk management, and a more transparent decision-making process, among other benefits.

The bolstering of efficiency will fuel competition amongst companies. The reduction of operational costs and enhancement of productivity will enable businesses to offer their goods and services at lower prices. This, in turn, will intensify deflationary pressure on the economy. As a result, consumers' purchasing power (and consequently, their quality of life) will increase. Currently, inflation in major economies worldwide is hitting 40-year highs. The widespread adoption of AI could be the lifeboat in these turbulent financial waters. To support his argument, Nigel cites a forecast by Goldman Sachs, one of the world's top investment banks. The forecast suggests that artificial intelligence could contribute to a 7% rise in global GDP. 

Thus, the expert underscores the significant role of AI in digital transformation for businesses. However, adapting to this new environment, moulded by AI technology, calls for an all-encompassing approach. Entrepreneurs need to fully grasp how the integration of artificial intelligence will modify their business development strategy, products, project decisions, data roles, staff responsibilities, customer experience, and more. Only then can a company advance and evolve seamlessly.

Drawing on the experiences of Walmart, JP Morgan, and Marriott, Vaz believes that a company's CEO must be actively involved in effecting AI-based transformations. This proactive approach will allow leaders to not just digitize existing concepts and practices, but to completely rethink their business model.

This is the one technology that will force the choice for them to be more transformative rather than digitizing what they already do

emphasizes Nigel Vaz

The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.

Articles by this author

Latest News

MORE
The Future of Crypto in 2025: Fidelity’s Predictions

The Future of Crypto in 2025: Fidelity’s Predictions

What’s next for the biggest cryptocurrencies in 2025? Fidelity Digital Assets analyst Chris Kuiper shares insights on how Bitcoin will navigate volatility, Ethereum will address scaling challenges, and stablecoins will adapt to evolving regulations.

13 Jan 2025
The Crypto Rollercoaster of 2024 — Wins and Woes

The Crypto Rollercoaster of 2024 — Wins and Woes

The crypto sector evolved at breakneck speed in 2024. With major wins and notable setbacks, it’s time to reflect on the year’s key developments and their implications for the future.

31 Dec 2024
OpenSea Token: Release Date and How to Qualify for the Airdrop

OpenSea Token: Release Date and How to Qualify for the Airdrop

The NFT marketplace OpenSea, a pioneer in the space for the past seven years, is expected to launch its native token in 2025. A significant portion of the tokens will likely be distributed through a retroactive airdrop—a common way to reward the community for their past activity and support.

30 Dec 2024
5 Most Exciting Token Launches to Watch in 2025

5 Most Exciting Token Launches to Watch in 2025

In 2024, we saw a number of hot airdrops and token launches, from AI-powered projects to the rise of memecoins. Now, as we head into 2025, the crypto space is set to expand even further with an increasing number of cryptocurrencies.

27 Dec 2024

Latest News Alt

MORE
OKX Exchange: Avoid Common Mistakes When Trading Cryptocurrency

OKX Exchange: Avoid Common Mistakes When Trading Cryptocurrency

Practical Guide to Using the OKX Exchange OKX, formerly OKEx, started as a platform for cryptocurrency swaps. As it gained popularity, it expanded its services to become a full-scale exchange, supporting the buying and selling of a wide range of crypto assets. In January 2022, the platform rebranded, simplifying its name by removing the “Ex” […]

11 Jan 2025
Weekly Analysis of BTC, ETH, and the Stock Market (Jan 6, 2025)

Weekly Analysis of BTC, ETH, and the Stock Market (Jan 6, 2025)

An overview of BTC, ETH, XAUT, and S&P500 charts, along with the current cryptocurrency market dynamics.

06 Jan 2025
Weekly Analysis of BTC, ETH, and the Stock Market (Dec 30, 2024)

Weekly Analysis of BTC, ETH, and the Stock Market (Dec 30, 2024)

An overview of BTC, ETH, XAUT, and S&P500 charts, and the current cryptocurrency market dynamics.

30 Dec 2024

Might Be Interesting

MORE
What Is DeFAI? How Is It Different from the DeFi We Know?

What Is DeFAI? How Is It Different from the DeFi We Know?

AI in crypto is leading to new categories, one of which is DeFAI. From the first guess, you can correctly tell that DeFAI is the combination of decentralized finance (DeFi) and artificial intelligence (AI).

16 Jan 2025
Buterin Proposes Guardian System to Enhance Digital Wallet Security

Buterin Proposes Guardian System to Enhance Digital Wallet Security

Ethereum founder Vitalik Buterin has unveiled a new security model for crypto wallets, based on social recovery and multisig technology. The system would divide access rights among multiple trusted parties, with each holding a unique key. Transactions would require approval from several of these keyholders to proceed.

15 Jan 2025
Mining Farms Uncovered — How Crypto Is Mined at Scale

Mining Farms Uncovered — How Crypto Is Mined at Scale

As a cornerstone of the crypto industry, mining farms drive blockchain networks. But how do they work? Uncover the mechanics behind these cutting-edge hubs and their role in the crypto landscape.

07 Jan 2025
William Quigley, WAX/Tether: Stablecoins’ Role in Global Payments

William Quigley, WAX/Tether: Stablecoins’ Role in Global Payments

William Quigley, co-founder of WAX and Tether, firmly believes that stablecoins are more than a tool for traders—they’re the key to transforming the global economy. Already central to crypto trading and cross-border payments, their future potential is even more exciting.

04 Jan 2025
Why Blockchain Is Different from Traditional Databases

Why Blockchain Is Different from Traditional Databases

In the world of business and finance, information is everything. Traditional databases have been reliable tools for decades, but blockchain presents a groundbreaking alternative. What sets it apart, and could it lead to a paradigm shift?

03 Jan 2025
How Does Multisig Work and Protect Your Assets?

How Does Multisig Work and Protect Your Assets?

As threats to digital assets evolve, multisig technology provides a highly effective security layer. By requiring multiple signatures for transactions, it significantly reduces risks such as hacking and access loss.

02 Jan 2025

Opinions

DappRadar: 2024 Industry Report

DappRadar: 2024 Industry Report

DappRadar’s latest report offers an in-depth look at the decentralized digital asset market, covering AI agents, NFTs, and memecoins. Who emerged as the winners, and who fell behind? Here’s a quick summary of the key takeaways.

17 Jan 2025
Rachel Aguirre Reflects on IBIT’s First Year in Action

Rachel Aguirre Reflects on IBIT’s First Year in Action

In a special interview marking one year since the launch of IBIT, Rachel Aguirre, BlackRock’s Managing Director and Head of U.S. iShares, evaluated the ETF’s success and its influence on market trends.

17 Jan 2025
MORE

Interviews

Dmytro Gordon and Volodymyr Nosov: A Sensational Interview

Dmytro Gordon and Volodymyr Nosov: A Sensational Interview

Volodymyr Nosov, CEO of Europe’s largest crypto exchange WhiteBIT, sat down with Dmytro Gordon, one of Ukraine’s most prominent journalists. The interview touched on Bitcoin, crypto, WhiteBIT, cars, keys to success, and business vision.

18 Dec 2024
WhiteBIT CEO: Standing Strong Against Russian Aggression

WhiteBIT CEO: Standing Strong Against Russian Aggression

In an interview with BTC-ECHO, Volodymyr Nosov, the founder and CEO of WhiteBIT, discussed the impact of Russian aggression on the crypto exchange’s business, how WhiteBIT stays a top competitor in the industry, and when he believes our financial system will be completely transformed.

04 Oct 2024
MORE