The Derby Mill Series Business Productivity (The Derby Mill Series ep 15)
Joining the usual Derby Mill team of Ajay Agrawal, Rich Sutton, Sendhil Mullainathan and Niamh Gavin are two experts in the automation of business workflows: AppliedAI CEO and founder Arya Bolurfrushan, and member of the technical staff Phillip Kingston.
AppliedAI closed a $55 million USD Series A round of financing in February 2025 led by G42 and with backing from Palantir and McKinsey, among others. With a pre-investment valuation of $300 million, the UK-founded, Abu Dhabi-based firm develops software to enhance the efficiency of businesses by automating their back-office processes, particularly in highly regulated industries such as healthcare, insurance, and pharmaceuticals. For example, AppliedAI processed more than four million pages of U.S. medical records in 2024. On its client list are such firms as Abu Dhabi’s M42 Healthcare Group, U.S. law firm Morgan & Morgan and UK-based drug safety firm Qinecsa.
In this discussion, Arya and Phillip join the Derby Mill hosts to discuss the technicalities of automating workflows, such as medical coding for hospitals. They explore the challenges and opportunities of integrating AI and human intelligence to optimize things at the limit, and conclude by speculating how business could change when automation is fully integrated into every step of the process.
GUESTS AND HOSTS
Arya Bolurfrushan, founder and CEO, AppliedAIPhillip Kingston, member of the technical staff, AppliedAI, and Visiting Professor at State University Kyiv Aviation Institute, Kyiv, UkraineAjay Agrawal, co-founder and partner, Intrepid Growth PartnersRichard Sutton, senior advisor, Intrepid Growth Partners, 2024 Turing Award recipient, pioneer of reinforcement learning and professor, University of AlbertaSendhil Mullainathan, senior advisor, Intrepid Growth Partners, MacArthur Genius grant recipient and professor, MITNiamh Gavin, senior advisor, Intrepid Growth Partners, Applied AI scientist, CEO, Emergent Platforms
LINKS
AppliedAI’s Series A press release
AppliedAI website
Arya Bolurfrushan on McKinsey’s Faces of Disruption
Phillip Kingston’s personal webpage
Rich Sutton’s home page. Follow Rich on X
Sendhil Mullainathan’s website. Follow Sendhil on X
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DISCUSSION POINTS
00:00 Cold open and introductions
01:10 Business productivity workflows and Applied AI
02:37 How most workflows are 80% similar
06:39 An example from the healthcare industry10:21 AppliedAI’s commercial approach
12:50 Niamh asks Philip to get technical on their process
16:32 What is "supervised automation"?
25:21 Sendhil’s take32:56 Rich’s take
40:15 How AppliedAI may change things at the limit
NUGGETS
How Will AI Algorithms Change Human Workflows? (1501)MIT Economist Sendhil Mullainathan asks, if we knew there was an AI algorithm underneath most business processes, would the entire workflow be different?
Fewer Human Hours Per Case (1502)AppliedAI’s Phillip Kingston describes how the company chooses which workflows to automate.
Human Auditors, Not Processors (1503)AppliedAI’s Arya Bolurfrushan explains why the cost of auditing AI workflows may increase over time.
DISCLAIMER
The content of this podcast is for informational and educational purposes only and should not be construed as marketing, solicitation, or an offer to buy or sell any securities or investments. The opinions expressed in this video are those of the participants and do not necessarily reflect the views of Intrepid Growth Partners or its affiliates. Any discussion of specific companies, technologies, or industries is for illustrative purposes and does not constitute investment advice. Viewers are encouraged to consult with their own financial, legal, and tax advisors before making any investment decisions.
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