Next-Gen Entrepreneurship Oliver Chapman, CEO of OCI, a London-based company specialising in supply chain procurement, shares his thoughts on the key trends, challenges, and opportunities for UK entrepreneurs.
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From artificial intelligence's (AI's) potential to green technologies and talent management, Chapman offers valuable insights into what lies ahead. The CEO believes that the UK is uniquely positioned to lead the way in the intersection of AI and sustainability, thanks to its thriving startup ecosystem and growing focus on responsible innovation. "The UK has one of the most vibrant, if not the most vibrant, AI startup scene in the world," says Chapman. "One of the UK's key advantages in AI is the availability of talent which is partly a consequence of the UK's university system."He also highlights the importance of being mindful of AI's environmental impact. "AI has a high carbon footprint, and to use it when there are less carbon intensive alternatives is a mistake," Chapman adds.
Chapman sees the intersection of AI and green technologies as a significant opportunity. "The art lies in knowing when to use AI and when not too," Chapman states. "The UK entrepreneur scene may well be moving towards occupying that space when not only AI, but more specifically, responsible AI, supports green tech." Chapman emphasises the crucial role of deep supply chain knowledge in navigating economic shifts. "As a company that specialises in the supply chain and working with partners, our emphasis is on knowing the supply chain inside out, what OCI calls KYSS — know your supplier's supplier," he explains.
He stresses the importance of a detailed understanding of the supply chain when preparing for economic shifts. "We are preparing for economic changes by working with partners to create this detailed understanding of the supply chain and trade finance options," he adds. The CEO highlights the central role of sustainability in OCI's strategy for 2025. "For us, the key to sustainability initiatives, ties in with a detailed understanding of environmental and indeed human rights in the supply chain," Chapman says. He also emphasises the importance of thorough due diligence. "Comprehensive due diligence related to sustainability is an essential part of effective supply chain practices," he adds.
As the global workforce evolves, Chapman anticipates that demographic changes will create significant challenges in talent acquisition. He believes OCI's focus on sustainability will provide a distinct advantage in attracting top talent. "Demographic changes are likely to create skill shortages for the foreseeable future," Chapman says. "We think we gain an advantage in the ever more competitive labour pool by emphasising our sustainability focus - which is especially important for recruiting staff," Chapman explains. Chapman points out the need for moderation when using AI and automation tools. "There is a fine balance between using AI and automation tools effectively and responsibly," he says.
No conversation around AI is complete without noting the importance of AI in handling large volumes of information. "AI can be an important tool where a lot of data needs to be analysed, and generative AI can help in certain areas such as report writing, but there are limits," Chapman adds. "Generative AI is a tool to aid people, not an alternative." He also points out that AI plays an important role in supply chain management. "In the domain of the supply chain, which is what OCI specialises in, AI can be an essential tool for gathering unstructured data from disparate sources and enabling meaningful insights," he explains.
Lastly, Chapman notes that automation tools help improve efficiency. "Likewise, automation tools can alleviate time intensive repetitive tasks enabling our staff to focus on what they are best at," Chapman concludes. Chapman's insights suggest that AI, sustainability, and talent management will be crucial factors in UK entrepreneurship this year. By focusing on responsible AI and sustainability, companies like OCI are positioning themselves for future success.
