Artificial Intelligence in Industry with Daniel Faggella

There's a lot of venture money pouring into artificial intelligence in healthcare. From pharma to hospitals and beyond, the potential applications in healthcare are promising. 

Late last year, we spoke for The World Bank about our proprietary AI in healthcare research, and speaking with governments, it's clear that there are hurdles that healthcare companies have to overcome to access data for training AI systems. 

Broadly, most of the folks that we speak with who are innovating in AI and healthcare are frustrated with how hard it is to streamline the data to make use of it for applications such as diagnosing illnesses.

But why is that? That's a question that we asked our guest this week.

Our guest this week is Zhigang Chen, and he speaks about why this problem exists and how it can be overcome. In addition, Chen talks about the AI ecosystem in China and how it differs from Silicon Valley.

Direct download: AI_in_Industry-Zhigang_Chen-Mixdown_1.mp3
Category:Artificial Intelligence -- posted at: 11:53am PST

Saying that your company does artificial intelligence might still have a slightly cool ring to it if you're talking to one of your peers at a conference, but it doesn't mean very much to venture capitalists today, who've been battered with machine learning and artificial intelligence in every pitch deck they've seen for the last three or four years.

I wondered, from a venture capitalist perspective, what makes an AI company's value proposition actually strong? What is it that makes an AI startup actually seem like a company that maybe could use AI to really win in the market? Not just to be another company that says they're going to do it or says they are doing it, but where can it actually provide enough of that competitive edge to make a VC want to pull the trigger?

Getting a grasp of the answer to that question seems pretty critical.

This week, we speak with Tim Chang, partner at Mayfield Fund in Menlo Park, California. Chang and I both spoke at the Trans Tech Conference, held every year in Silicon Valley, focused on wellness and health-related technologies.

Chang talks about what it is about an AI company's pitch, product, and market that actually makes AI an enhancement to the business in a way that's compelling to someone who wants to invest potentially millions and millions of dollars.

Direct download: AI_in_Industry-Tim_Chang_-Mixdown_1.mp3
Category:Artificial Intelligence -- posted at: 1:33pm PST

If one wants to start a general search engine, they're going to have to compete with Google. If one wants to start a general eCommerce platform, they'll have to compete with Amazon. But the same dynamics play out on a smaller scale. There are going to be some established players, some big tech giant, be it IBM or someone else, who already has a product.

When it comes to getting a new AI product out to market, how does one compete with the big guys?

This week's guest is Mike Edelhart, who runs Social Starts and Joyance Partners, seed stage investment firms out in the Bay Area. Edelhart has invested in a number of companies, and in this episode, we get his perspective on not only the patterns among successful AI startups and where AI plays a role in their competitive strategy, but what a "land and expand" strategy looks like for a new product that already has larger and more established competitors.

Direct download: AI_in_Industry-Mike_Edelhart-Mixdown_1.mp3
Category:Artificial Intelligence -- posted at: 8:41am PST

A lot of AI in the press is CMOs or marketing people talking about what a company can do in a way that really is aspirational. They're speaking about what they can do, but in reality, the things that they're talking about, the capabilities won't be unlocked for maybe a year or more. These are just things on the technology road map, but people speak about them like they exist now.

This week, we speak with Abinash Tripathy, founder and Chief Strategy Officer at Help Shift. They've raised upwards of $40,000,000 in the last six years to apply artificial intelligence to the future of customer service, and we speak about the hard challenges of chatbots and conversational interfaces, as well as how long it's going to be until those are actually robust. This in opposition to how people at large companies might put out a press release touting their own chatbots that simply aren't capable of doing what they say they can to any meaningful degree.

We also talk about where AI can augment and make a difference in existing customer service workflows.  Even if we can't have all-capable chatbots to handle banking or insurance or eCommerce questions from people, where can AI easily slide it's way in and actually make a difference today? In this episode, we draw a firm line on where the technology currently stands.

Overall, though, this episode is about the challenges of actually innovating in AI. We talk about why it really is the big companies that do a lot of the actual cutting edge breakthroughs of AI and why others are going to have to license those their technologies from large firms like Google and Amazon.

We also discuss why companies maybe need to have a realistic expectation about where they can apply AI, as well as why actually innovating and coming up with new AI capabilities on their own might just be wholly unreasonable given their data, their company culture, and their density of AI talent.

Read the full interview article on emerj.com

Direct download: AI_in_Industry-Abinash_Tripathy_-Mixdown_1.mp3
Category:Artificial Intelligence -- posted at: 11:07am PST

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