Revolutionizing enterprise SaaS and AI: Insights from Rakuten Product Conference 2024
On May 21 and 22, Rakuten Product Conference 2024 brought together tech luminaries, engineers, researchers and enthusiasts from across the globe to discuss two of the hottest topics in technology: enterprise SaaS (Software as a Service) and artificial intelligence.
Hosted at Rakuten India’s office in the bustling heart of Bengaluru and streamed to a global audience, the conference underscored Rakuten’s relentless pursuit of innovation and empowerment.
Now in it’s fourth edition, the event attracted over 14,000 participants, making it a celebration of technology’s potential to improve lives and shape the future.
Day 1: Enterprise SaaS
The first day of the conference was dedicated to the dynamic world of enterprise SaaS. Sunil Gopinath, CEO of Rakuten India and Executive Officer of Rakuten Group, set the tone with an inspiring opening address in front of a packed auditorium of employees and guests. Emphasizing Rakuten’s “Day 1” culture, a philosophy that fosters perpetual innovation and entrepreneurial spirit, he highlighted the transformative potential of generative AI (GenAI). He also took the opportunity to unveil Gen EYE on Rakuten SixthSense, a groundbreaking solution designed to safeguard AI tools, systems and algorithms.
“Rakuten’s mission globally is to empower society through technology,” Gopinath remarked. “With products like Rakuten SixthSense, we ensure the security and efficiency of our own operations while offering these innovations to the broader market, enabling businesses worldwide to thrive in a secure and reliable environment.”
Later on Day 1, Akihito Kurozumi, Group Senior Managing Executive Officer, CIO & CTO of Rakuten Group, and Tsubasa Shiraishi, Vice Chairman of Rakuten India took to the stage to share background on Rakuten’s history and share a vision for the future of the Group. Kurozumi highlighted Rakuten India’s role as the global research and development center for the Rakuten Group. Shiraishi reflected on Rakuten India’s growth from a small team of six in 2014 to almost 1,600 today, emphasizing the importance of Rakuten Shugi, the company’s guiding principles.
External speakers such as Vani Kola, Managing Director of Kalaari Capital, and Sanjeev Mantri, MD & CEO of ICICI Lombard, shared insights on the evolving SaaS landscape. Kola discussed the significant innovation happening in the enterprise SaaS market, which is expected to grow from $25 billion to $50 billion by 2030 in India alone. Mantri emphasized the importance of understanding the changing business environment and the need for businesses to adapt or risk being left behind.
Day 2: Artificial intelligence
Rakuten Product Conference 2024’s second day was dedicated to all things AI. Ting Cai, Group Senior Managing Executive Officer and Chief Data Officer of Rakuten Group, delved into the intricacies of AI Product Management, highlighting the unique challenges posed by the rapid development and scalability of AI technologies.
Chief Data Officer Ting Cai at Rakuten Group.
“A successful AI Product Manager must possess a clear vision, a deep understanding of technology, and a strong grasp of customer needs,” Ting explained. He outlined Rakuten AI’s mission to enhance human creativity with AI, leveraging vast data and extensive customer reach.
Ting also shed light on semantic search’s ability to increase understanding of user intent and the importance of continuously iterating on AI models through development. His insights painted a vivid picture of how AI can be harnessed to empower businesses and augment human creativity.
Taku Okoshi, Executive Officer and Director of the AI Services Supervisory Department, provided a deep dive into Rakuten’s AI use cases. He emphasized Rakuten’s long history of empowering society and the company’s current focus on ‘AI-nization,’ an initiative aimed at integrating AI across Rakuten’s ecosystem. Okoshi highlighted Rakuten’s Triple 20 goal to improve marketing, operating, and client productivity by 20%, showcasing the company’s commitment to leveraging AI to significantly impact business.
Intriguing sessions and panel discussions
One of Day 2’s standout sessions was a panel on “AI as the New Internet – Building & Transforming Business with Innovations,” which brought together Amitabha Tripathi, SVP, Head of Analytics Consulting and Solutions at Aditya Birla Group; Deepika Kaushal, Senior Director at Piramal Capital & Housing Finance; Amit Rana, Head of GenAI and ML Platform at Flipkart; Vanitha D’Silva, Sr. Director of Data Science and AI Strategy at Sigmoid Analytics; and Raghav Gupta, Co-Founder & CEO of Futurense and Co-Founder of The 1% Club.
Speakers explored how businesses are leveraging analytics and GenAI to enhance customer engagement and create new markets, discussing the critical role of data infrastructure and use of AI to understand customer needs. Winning trust and effective execution were identified as major challenges in implementing AI solutions. The conversation also highlighted the potential of generative AI to revolutionize industries, from enhancing learning experiences to streamlining production processes.
Global participation and future outlook
In an interview following the event, Gopinath expressed his excitement about Rakuten’s mission to empower society through technology, highlighting the company’s efforts in building advanced AI for healthcare and education and noting the potential of GenAI to enable personalized education and early detection of health issues.
“GenAI is going to enable exponential growth and solutions in all industries,” said Gopinath. “I’m very passionate about education and healthcare. Technologies like ChatGPT are going to enable personalized education and even education for people in villages and small towns who do not have access to great teachers.”
While the future of AI and enterprise SaaS is still being written, Rakuten India is sure to be on the front lines of change.
