2 Burst results for "Big Orix"
"big orix" Discussed on CCC Talks
"Podcast. Glad to be here market so much on your company. Emerge is focused on research in the field of artificial intelligence So maybe to tell us a little bit about what you do on what emerges all about Suri. Yeah I'll give you the very fast version here so our work focuses on really the Aurelie of AI in major sectors so we track the startup ecosystem. We try to know use cases and we categorize what is enabling within those industries. And sort of where? We're seeing a return on investment so Visual Map irs are alive for leaders of companies that a Serb don't want to allocate their funds without knowing the landscape. I I got a good proposition. Especially the visualization of an Aurelie. Also the new thing but I think companies should do more of that abbey rather than just pure numbers of it may be looking at it from. I'm sure looking at it from different aspects for sure. Yeah I mean For some people ease of deployment for example is a paramount import. Because they don't have that much internal data science talent for example for other people. They really have an emphasis on building a particular capability. Like let's say computer vision. They WANNA be able to identify things with images. It's an e commerce business or retail business and they might particularly want to screen for that so criteria will vary but I think companies do it. Well you assess where they WANNA put funds companies. That don't just you know. Waste a little money on a pilot here on a pilot there and then they'll they'll learn the hard way that they should have some some strategy so that's kind of where we had good. I've learned to light as a hard way to do things at an easy way to do things find the people that can help you do the easy way and the answer. But I think what you're saying is your focus on the value from AOL. Ai Tune Organization and trying to understand that before doing ai for the sake of doing it. Is that what you're about? Yeah so some companies have been honest with us About checking the box in other words. Oh we did a pilot project because we you know. Our competitors did press releases about pilot projects and we wanted to do one as well. I'm there's obviously a lot of danger there. Germs of of wasting money so on most leaders we work with a lot of heads innovation heads of strategy. They don't quite know what they don't know they don't know the totality of what they could invest in and sort of. Where is the low hanging fruit and a lot of time for Big Orix? They want wins. They want relatively quick wins on with. It's not always easy. But they have to see the landscape to do it so yeah better than better than hurling money into random directions or like you said. I'm doing it for the sake of doing a savior's now we're going to start with him. Simple question very simple in terms. I'm GONNA ask you. What is artificial intelligence will? What is a yeah so you had said before we started recording here? Mark that You'll get ten different answers when you ask ten times and I speak fulltime with a researchers and heads of AI at big companies. I probably get different answers from them as well so to some degree even the folks that know. The space are bickering. Lot about Specifically where AI fits in compared to machine learning etc. Broadly speaking a I is a computer doing something that otherwise people would do. This is the big umbrella artificial intelligence that goes all the way to really complicated natural language generation stuff for You know that kind of models a human conversation which were kind of borderline cutting edge big companies like Google all the way down to relatively boring stuff like detecting fraud for a credit card company or a potential even more limited applications. They're so big umbrella. It's a big umbrella they can. I think automating still for the computer that humans use to do. We'll talk a little bit more. Besse AMBASSAD industries a fan. You know as you said even if it's just credit card fraud or insurance fraud and I could have taken a lot of people hours to try and figure out. Where may I system might do that? Quicker faster better can ask 'em again in broad terms. Why should we be excited about? Ai Buffoon from two views one from the organization perspective on one from a consumer perspective. I'd be excited. I think that So from an organization perspective I think Excitement can come from. You know the potential to win in the market. I think there's excitement. There's fear there's a lot of motives for organizations it's just about being able to stay relevant so for particular for very large companies on have already budgets Who are kind of enterprise level The winners and losers of the next ten years and a lot of space is heavy industry financial services etc have to involve some capabilities unlocked in some ability to have moved fluently with these new capabilities. They emerged so being excited about that. Means being cited about staying ahead of the market as a consumer and ultimately again. We're more on the business side for our work but as a consumer. I think we almost might see it as the next level of the next layer of convenience like the Internet was know I I used to. I don't have to go to blockbuster. Renna video now have net flex is kind of an Internet serve convenience level and kind of layer on top of any given service whether it be food or entertainment or connecting with friends. Or what have you? I think I will be potentially another layer of that certainly in consumer tech. That's moving quickly you know. Syria was out well before those kinds of applications were available to be and I think that consumers actually going to be the fast moving area. But it's mostly it's convenience on for for your average kind of person on the street. Absolutely on he said interesting thing though blockbuster being the the US DVD video rental store which along exists. So I think I think we're saying the likes of these digital technologies a helping organizations change our business model the way they do business and how they do business because it allows people to consume things differently as well so I think it's a great opportunity for organizations to do something new but there's also the danger that is they don't do something new that some competitors might do that so it's not a challenge facing. Yeah it is. I think it's most relevant for the larger organization so in a space like banking where we do a lot of work insurance wealth needed. It's kind of like global top one hundred companies so if you are a mid size random bank in the Mid West. You sort of. Don't have to direly stay ahead of ai because you don't have the budgets you don't have the RND and the technology so nascent it's GonNa be tough to get it off the ground with a lot of that that are indeed but for the folks who are in the top one hundred when JP Morgan and Wells Fargo and the other players Start to get that edge in customer experience. Start to get that Agean in You know how easily they can onboard people or how well they can calibrate their loans and lending for example you're competing with the biggest right now essentially across sectors on matters survivability wise people realize that added and that's a lot of impetus to get started is actually less the excitement more the nervousness nervous. I think that goes back to your opening. You know what you're saying about understanding the Ohio. I'm the value from a now. Everybody is going to get value today as you said. Those mid Westerner Midstate by they could put a lot of money into see no return for years because they're not under threat from these other industries in other areas. Yeah I mean it's also just. That is very hard so to do I quote unquote This is very choppy language to say do but to essentially enable a in the enterprise that is to say we're going to train our own algorithms to achieve a unique goal on if we want to do that we need data scientists. We need a lot of data. That's organized we need the ability to fail because a lot of the time even with great data and smart people there may just be an application. That doesn't work as it turns out. This data doesn't correlate to fraud. Sorry that was nine months in a lot of money like okay you know not the end of the world but that's the nature of Ai. So the stomach for that. Kind of risk of non are alive on the required budgets. Data in expertise just aren't at these companies so it's it's not just that they don't compete directly with J. P. Morgan. That's part of it. But it's also like they couldn't enable the technology will have to evolve in move down market to become more push button. At which point it will really be doing. Ai They'll essentially be leveraging data mostly trained on other people's information about IB software to point it out right. We'll move into the next era. We're not there on right now. So the highest that big players. Yes I ended up going to be a very interesting space when we're almost consuming else's AI. Or the learning that they've created a now clear is in if you're the leader in the industry let's say banking you used a You've got to return but you now have this super knowledge or source that you can then salad. Maybe spin off as a service to thanking industry. That to me is very interesting. Yeah it's it's interesting to see where and if that will happen so let me paint a picture for you of kind of how it could happen but places where I actually don't think it'll happen so you bring up a great point and I think not enough people frankly are asking about how. Ai will evolve. We have to think about that a lot. Because companies we work with are planning you know five ten years out they at least want some vision there so to your point you say. What is it like to use other people's data while you use net flicks right now? I presume or use facebook and I don't have a Netflix account. But people I know have Netflix. And that's essentially being trained off of Amazon as well Spotify were listed music These are systems that are trained on people like me. So if if I use spotify and I listened to a lot of classical but I also have like this random nineties dance like songs. I like for some weird reason because I am now. I was twelve once and I listen to the radio back. Then they'll they'll have folks who like me have maybe had similar tastes in. They'll be able to suggest songs that I would also like so. That's training someone else's data we. You're talking about I think would be a bank who really masters anti-money-laundering and then says I wonder if other banks pay US A TON OF MONEY TO MAKE SURE. Nobody uses their bank as a terrorist route for money on. Maybe we can sell this so that may happen on. We are right now for the most part seeing vendors serve that role so vendors working with bank XYZ whatever and then they're taking the data from all of them and their goal is to now have a from scratch kind of pull the cord and we can automatically rip that up to speed. We're seeing more. The vendor ecosystem take that role but some big companies may do it themselves to I think a lot of companies are worried about giving up their crown. Jewels like that but But the vendors are trying to work at it they're trying to basically what you're seeing today over. The course of the next five years will obvious but what people don't realize today as vendors are trying to drink as much data from the top one hundred is they can so they can service the entire mid market or less pushback not entirely but more or less really own that market so that's happening across sectors for sure. I think that'd be keys. You said more or less push-button it's like worse offer as the service got today. Yes is in complex to consume now behind the scenes to make it work..
"big orix" Discussed on Mixergy
"So then you're going, and you say, you know, I'm not sure what to do you go to your parents who came from Russia who used to go and take garbage into their house. So that they can have furnished for the kids, and you say I'm gonna go work with Chris. What did they say? So my mom was like, I can't believe it took this long. And she was like, I don't understand why you went to work in the first place. But my parents never wanted my mom's good at like, why don't know? Why you did? I says why don't you tell me nine months ago, not to do it in the first, but that's a different story. But my mom was like that's ridiculous. Of course. You should do this. And then my my father-in-law Chris's dad who's always been like a mentor advisor in the company. He's run big Orix. He's never been entrepreneur himself, but always run big Orix. And he was like, no, you should like health insurance and risk in all these things. So actually, we had a really nice balance of very prac- kind of a conservative approach. And then my mom was like, I've learned from her you just run, and you figure it out as you go. You know, this run as fast as you can. So is it was a really good balance. And and you he went to work at while. This is before they had any software. Let me take a moment. Talk about my first sponsor, then we're gonna get into that thing that you finally launched every develop in depart every Deb shop seems to want to creates offer. And I get why most don't end up doing it. You did I wanna find find out why in a moment, but I got to tell everyone, including unit Natalie's, you know, about towel. I have heard about top talionis man, they need to get the word out even more. So you save course. I did. Here's how we work with how here's the deal. Without now, I'll tell you quick story talking to Nathan locker he's not a developer just like you. But he said, you know, I wanna buy this chrome plug in to goes out. He buys a chrome plug in that lets people send out Email later track opened that whole thing you Benchley called the top Email buys it. And he doesn't know how to Cote he doesn't know what to do with the frigging thing. So he goes to top talent. He says I need to get developed top gets developer. He says the developer look everything's fine on this the way it works. Here's what I need code. I wanna start getting paid for this reply. In. Here's what I need. Whenever people send more than X number of emails using my chrome plug in for g mail put up an alert that says pay to get access berm for more. And if they don't want to do that give them like an extra or something that says I wanna use this one more time for free. So they do it. And suddenly this thing that he's losing not losing money that was losing money before he bought it because they had the paper developers suddenly is making money because he paid a top towel guy. Just to put up a pop up after X number of uses tell people pay. And now he's got this this business that has a revenue stream that he can use to build up the rest of his company. Now, why to go top towns that to somebody else? Why didn't you just look around for the cheapest person could find because he wanted a really good developer someone who wasn't gonna screw things up. Someone who's going to think creatively? Someone who could take his mission. And not say, how do I do this? How do I screwed up or how do I do this and Nathan you tell me every detail. What needs to get done with top Cal? They're the best of the best. You just tell them. What needs to get down? They've seen these problems before. And they want to solve good problems for you. Anyway, if you're out there, and you're looking hire developers tons of places where you can go. If you wanna hire the.