September 30, 2024

3 key takeaways from the ILF Economic Development Summit

The Buffalo Niagara Partnership’s 2024 Industry Leaders Forum series culminated Sept. 26 with its second annual ILF Economic Development Summit.

More than 100 professionals across various sectors of the local business community gathered at The Barrell Factory to network with fellow industry leaders and gain valuable insights into how technology can be used to help shape the future of the regional economy.

West Herr Auto Group President & CEO Scott Bieler also received the BNP’s 2024 Industry Leader Award for playing such a vital role in the Buffalo Niagara region as both an economic and philanthropic engine.

“He’s a champion and a protector of the regional economy and of our community,” BNP President & CEO Dottie Gallagher said, “and he’s an incredible boss and leader within what West Herr has accomplished.”

Here are three key takeaways from the summit:

Digital strategies for the future

Bank of America’s Ted Janicki, Buffalo Niagara president, and David Tyrie, chief digital officer & chief marketing officer, kicked off the program with a fireside chat about their company’s principles, the use of AI and the role of marketing.

Tyrie said that every initiative should start with the customer in mind and involve these three key aspects: how to make things easier, more convenient and safer.

“Tech changes every single day, so we need to think about how we’re applying tech to those three baseline principles,” Tyrie said. “AI is one of the newer frontiers. It has lots of hype, but we must separate fact from fiction on how to harness and best use it.”

Janicki added that Bank of America continues to evolve its “high-tech, high-touch” approach with the use of Erica, a virtual AI assistant it started eight years ago and has since become the bank’s new user interface.

The data collected through Erica has helped Bank of America acquire, develop and retain customers by making sure it’s targeting the right people, bringing the user experience to life and then getting the word out to inform current and prospective customers about the role the bank can play in helping people and businesses.

SMART Talk

Today, 1% of global semiconductors are made in the U.S. By 2034, with federal funding for the NY SMART I-Corridor Tech Hub, about 25% will be made within 350 miles of Buffalo Niagara.

To accomplish that goal, Gallagher, Moog Chief Technology Officer George Small and University at Buffalo Dean of the School of Management Ananth Iyer agreed that the challenge is to collaborate and engage with existing companies in Buffalo, Rochester and Syracuse to see how they can play a role in this generational opportunity to reform the regional economy.

It’s a complex implementation, but it’s an immense opportunity to develop an approach that could also apply to other industries in the future, such as clean energy and healthcare, Iyer said.

“You can think of it as dividing the pie versus growing the pie,” Small said. “We can achieve more together than on our own, so there’s a vision of where we’re trying to grow. Getting people to buy into that and work together is the current next step.”

Industry Leader Award

Bieler was presented the 2024 Industry Leader Award by 2023 winner John Persons, COO of Tops Friendly Markets parent company Northeast Grocery, who said Bieler has shown a dedication to excellence, leadership and community service that has made a lasting impact on both his industry and the region as a whole.

He built West Herr from a single dealership into New York State's largest automotive group and one of the most prominent auto groups in the country with 40 locations, 27 franchises and 3,200 employees. Beyond his professional achievements, Bieler’s philanthropic efforts through the Scott Bieler Family Foundation and his active service on various boards of directors have transformed countless local institutions.

Bieler said he was humbled and grateful in accepting the award.

“The commitment of this community to us is remarkable,” he said. “I feel because of that loyalty, we need to have those people see that because West Herr’s here, something happened every year that made Western New York a better place to live. ... As long as West Herr exists, we will see an effort made every year to make a noticeable difference in some way, shape or form in our community.”

The 2025 Industry Leaders Forum will begin in January. Click here to learn how to join or become a sponsor.