AI Isn’t Automatic

Artificial intelligence is table stakes in a lot of businesses today.  If we think about roboadvisors, it certainly is.  Of course, customer acquisition costs are very high in that world given the long term value of the customer.

In our line of work, we look at a lot of AI companies. The joke among VCs is that someone slaps AI onto their product just to raise the valuation a few points.  However, it’s a real thing and done right, AI is pretty cool.

I am, and we are not, investors in Finn.ai.  A friend of mine is.  They are based in Vancouver, Canada.  They just did a podcast on AI and Fin Tech.  It’s worth listening too.   Here is the info:

In this recorded webcast, Dan Latimore, Senior VP at Celent and Ben Terrill, VP of Customer Success at Finn AI discuss the truth behind conversational AI for banking. These experts examined the most common misconceptions that could tank your bot deployment. Avoid these pitfalls and write your own AI success story.

• Slow and steady wins the race – why quick wins aren’t long term successes
• You can’t set it and forget it – understanding that AI isn’t self-sufficient
• Bots are NOT Conversational Assistants – knowing the difference can make all the difference
• A good relationship needs to be cultivated – how to optimize customer adoption and interaction post- launch
• Cross-bot integration is hard – when to consolidate multiple deployments

Here is the link.

I am traveling from Wisconsin to Chicago today.