Apple AI Ambitions Pan-caked with Ann Bordetsky of NEA + Gokul Rajaram and Michael Gilroy | Okay, Computer.
May 15, 2024
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NEA Partner Ann Bordetsky discusses OpenAI’s Chat-GPT4o and potential Apple deal. Apple’s controversial iPad ad, Google I/O’s AI integration, and SoundHound AI partnership. Conversation with Gokul Rajaram and Michael Gilroy on AI wearables at RBC Capital’s conference.
Apple and OpenAI partnership rumors fuel speculation in the tech community.
AI-powered underwriting is reshaping financial transactions through big data analytics.
AI APIs are democratizing access to services, offering scalability and affordability for businesses.
Deep dives
AI Transforming Traditional Business Operations across Sectors
AI is becoming increasingly prevalent in various sectors, disrupting traditional business operations. Companies are utilizing AI to improve customer service, streamline operations, and enhance productivity. From customer support automation to AI co-pilots in engineering, businesses are realizing significant cost reductions and efficiency gains. AI is permeating every functional area, offering opportunities for increased revenue and improved output.
Evolution of AI in Underwriting and Lending
AI is revolutionizing underwriting processes, particularly in lending and financial services for SMBs and consumers. Despite regulatory challenges, AI-powered underwriting is poised to transform how loans are processed and approved, leveraging big data and advanced analytics. While AI co-pilots enhance productivity and efficiency, AI applications in underwriting show promise for reshaping financial transactions and decision-making.
Vertical Focus Driving AI Adoption and Transformation
Vertical markets like healthcare, legal, finance, education, and entertainment are embracing AI solutions to leverage unstructured data and optimize workflows. Industries are transitioning towards outcomes-based pricing models, focusing on service delivery and results rather than traditional hourly billing. AI is enabling companies to scale operations, redefine business models, and enhance customer experiences across diverse sectors.
Democratizing Services with AI-Powered Solutions
AI is democratizing access to services by offering AI-powered solutions that cater to a broader audience. Companies are shifting towards a service-as-a-software model, providing on-demand services through API calls and AI agents. This shift enables startups and businesses to leverage AI services, such as demand letter generation or sales call assistance, with greater affordability and scalability. Service democratization through AI APIs presents new opportunities for optimizing business functions and expanding service offerings.
Potential of AI Assistants and Increasing Adoption in the Masses
AI assistants like Gemini and OpenAI are showing potential for widespread adoption, offering services like analyzing data and answering questions for a subscription fee. The discussion involves the comparison of these AI services with traditional search engines like Google, highlighting the different use cases and the evolving landscape of AI technology. The conversation explores the role of technology accessibility and user-specific problem-solving capabilities in driving the popularity of AI assistants.
Future Trends in Tech and Financial Services
Discussions shift to the evolving trends in technology and financial services, emphasizing the importance of scale and durability of growth for companies considering going public. The conversation delves into the challenges faced by FinTech companies in public markets, highlighting the need for a nuanced understanding of different business models within the financial services sector. The impact of generative AI integration in various industries is explored, with a focus on the potential benefits and challenges of transitioning to an AI-human hybrid workforce.
After the break, we bring you a conversation Dan had with Gokul Rajaram and Michael Gilroy at RBC Capital’s Technology Private Company Conference (35:00).