The Rise of Conversational AI in Heavy Industry

Artificial intelligence (AI) has become a household term, and its applications are revolutionizing various industries. One area where AI is making a significant impact is heavy industry, including manufacturing, energy, and utilities. In these sectors, companies often face the challenge of outdated digital infrastructure, which hampers productivity and data quality. However, the emergence of conversational AI is changing the game by streamlining processes and improving efficiency.

In this opportunity we speak with Mark Fosdike, the CEO & Co-founder of Datch, a company that specializes in conversational AI solutions for heavy industry. Mark's background in aerospace and his firsthand experience with the challenges faced by frontline workers in heavy industry inspired him to develop a solution that would revolutionize the way data is captured and processed. In our conversation, Mark shared insights into the journey of building Datch and the transformative power of conversational AI.

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Founder Bio: 

Mark Fosdike, CEO of Datch, is a visionary leader in the field of asset management and a dedicated entrepreneur. With over two decades of industry experience, Mark has an exceptional understanding of the challenges and opportunities in asset management, and a proven track record of driving innovation and growth. Before founding Datch, Mark held several senior leadership positions in renowned global companies, where he gained extensive expertise in industrial operations, and technology. His passion for delivering cutting-edge solutions led him to establish Datch, with the aim of revolutionizing asset management through the integration of advanced AI-driven features.

Time Stamps: 

01:54 Mark’s background before creating Datch 04:14 Identifying the problem of inefficient data input in heavy industry 06:20 How Datch uses conversational AI to speed up processes and improve data quality 09:13 Adaptability of Datch's interface for frontline workers 10:40 Leveraging large language models for accurate speech-to-text and prompt engineering 13:12 Customization and application to specific use cases 15:48 Approach to acquiring new customers 17:55 Typical sales cycle and stakeholders involved 19:34 Changing interest in AI solutions over time 22:59 Mark discusses the need for a consultative sales approach  24:38 Founders' background and passion for building things 28:21 Importance of building a network and finding advisors 29:58 Getting advisors to buy in with equity and commitment 32:30 Hiring strategy and the importance of hungry generalists 34:01 Fundraising journey and challenges as a first-time founder 37:58 Exciting things coming up in the future  38:53 How to get in contact with the Datch team

Resources

Company website: https://www.datch.io/ Twitter: https://twitter.com/datchsystems LinkedIn: https://www.linkedin.com/company/datch/ Facebook: https://web.facebook.com/Datch.io