Invest Like the Best with Patrick O'Shaughnessy
Des Traynor - Real Talk about AI and Software - [Invest Like the Best, EP.340]
Peter Duffy's AI podcast notes AI-generated based on their snips
AI-generated based on their snips
1. The quality and accuracy of AI responses in customer service depend on performing vector searches across all available documents, inferring data meaning, and aligning the answers with the brand and conversation tone.
2. High-quality data is more valuable than the flow of conversations in companies, and there is a need for a provider to handle data for everyone in the future.
3. AI is crucial for product success, but it requires constant evaluation of core product assumptions and integration into workflows for optimal impact.
4. Incorporating AI should focus on eliminating parts of the customer's workflow that can be automated without requiring customer interaction.
5. Most AI seen in the industry involves basic API calls, but the use of large data analysis and powerful query engines like Rewind AI stands out.
6. Building world-class software around AI is essential for successful implementation and impactful features.
7. It is important to have substantiated AI ideas and customized answers instead of relying solely on generic prompts.
8. Startups need to communicate a unique, valuable, user-centric message that is true and simple to succeed.
9. Intercom's strategy is to consistently release new features, stay ahead of competition, and provide the latest and greatest technology.
10. Customers prefer the best and latest technology, and copying existing ones will result in using outdated products.
11. Software companies face a challenge in balancing market size and product quality, considering diverse workflows and requirements.
12. Entrepreneurs should set a time limit to assess the success of their venture and avoid wasting productive years.
13. Measuring ROI and future value is crucial in evaluating investment decisions for both entrepreneurs and venture capitalists.
14. It is important to not invest in companies with low valuations and focus on future potential and return on investment.
15. The year 2021 was characterized by excessive risk-taking, and it is crucial to consider the consequences of business decisions.
16. Balancing personal experiences and business decisions should be done with consideration for future value and potential return on investment.
