DEAR CEOs ARTIFICIAL INTELLIGENCE IS YOUR BIGGEST THREAT AND YOUR BIGGEST OPPORTUNITY

Dear CEOs: Artificial Intelligence is your biggest threat, and your biggest opportunity

It is no secret that artificial intelligence (AI) is poised to take the world by storm. But what exactly does that mean if you are a business leader? It means you need a strategy, and you need to act fast.

Just ask Mark Fields, the former CEO of Ford who was replaced back in May by Jim Hackett, head of their future focused Ford Smart Mobility division. Though it will take time for any company’s internal AI capability to grow, the time to get started is now – and waiting might end up costing you at lot more.

What is your game plan?

Beyond the dwindling profits motive for Ford, we are talking about entire industries and their supply chains being transformed at unprecedented speed. Amazon’s recent acquisition of Whole Foods suggests that even successful, profitable companies, in what most would consider a non-tech sector,  are not immune to changing times and technology disruption.

We have already seen early AI adopters like Facebook, Google, Uber, Microsoft and IBM establish new standards for data analysis and customer experience, and those standards will continue to sharpen as more companies take advantage of this technology. With $1.7 billion invested in AI startups in Q1 2017 alone, and the exponential efficiencies created by this sort of technology, this evolution will happen quicker than many business leaders are prepared for.

If you aren’t sure where to start, don’t worry – you’re not alone. The good news is that you still have options:

  1. You can acquire, or invest in, an innovative technology company applying AI/ML in your market, and gaining access to new product and AI/ML talent.
  2. You can seek to invest as a limited partner in a few early stage AI focused VC firms like BootstrapLabs, gaining immediate access and exposure to vetted early stage innovation, a community of experts and market trends.
  3. You can set out to build an AI-focused division to optimize your internal processes using AI, and map out how AI can be integrated into your future products. But recruiting in the space is painful and you will need a strong vision and sense of purpose to attract and retain the bests.
  4. You can use outside development-for-hire shops like new entrant Element.ai, who raised over $100M last June,  or more traditional consulting firms like Accenture, Capgemini, and others to fill the gaps or get the ball rolling.

What’s more, these options are by no means mutually exclusive. On the contrary, as an executive leader in the digital era, you need to adopt a lean and iterative philosophy around execution: build/partner/buy, measure, learn, and double down on what’s working for your company.

The best companies in the world are already doing this, and many more are preparing to do so soon. Are you?

Connect to the Community and Start Building

Since our second annual Applied AI Conference back in May, which gathered over 700 senior executives, we have been amazed at the level of enthusiasm surrounding the AI advancements and possibilities taking shape across all industries.

What was once but a body of research has given way to massive investment, adoption, and before long we will see large-scale market adaptation taking place well beyond the current use cases. The technology is there, ready for action, and an amazing community has formed around it, across many important industries.

Over the last several years, BootstrapLabs has lead the way in connecting this community. From the technologists and evangelists to the entrepreneurs and investors, we are much more knowledgeable and capable together than any one of us could be alone.

The same principle applies to your business. The talent war around AI is already raging, and as you build your strategy, you need a plan for attracting and retaining top personnel. This means that you have to do more than just “lip service” or “innovation theater” and execute in all aspect of your business to make AI part of your brand and core infrastructure. Your stakeholders will first ask for it, then quickly demand it.

Be Future-Ready

Okay, you’re sold on creating and executing your AI strategy – but how do you prepare for the unknown?

Not only must you focus on adapting for the near-term impact that AI will have on your market, but you must build out capabilities which will set you up for long-term success. This is where your leadership is so important.

Create and mobilize an ecosystem of human capital, venture capital, and technology that will help your organization sail through the seas of change. Empower your domain experts with a robust and agile business strategy, and the innovation will happen more organically.

The puzzle pieces are all there, it’s just up to you to start putting them together. You have much to gain. As Akli Adjaoute, President and CEO of AI company Brighterion suggests, we are talking about “10x ROI for enterprise: you could solve problems within a minute using this technology, instead of weeks.” This opens up space to solve bigger and better problems, increasing employee engagement and productivity and reducing the risk of inefficiencies eating away at your margins.

Don’t wait to be in Mark Fields’ position. Be remembered as the visionary leader that managed to plan, take action, and come out ahead of this challenging innovation curve. Just reflect back on the move that Mark Zuckerberg made with Instagram in 2012. He chose to spend $1 billion (10% of Facebook’s valuation at the time) to buy a revenue-less, two year old mobile photo sharing company – and invested several million dollars since to keep supporting its growth.

He knew that mobile was transforming everything, and Facebook had to stay relevant. Seeing how far we’ve come since this move, you would take that bet any day of the week. Now let me ask you: How much of your market cap are you investing in your AI transformation today?

If the answer is not enough, not fast enough, then refer back to the above section on game plan and reach out to the community!

Corporate investment in artificial intelligence “is predicted to triple in 2017, becoming a $100 billion market by 2025,” writes Ray Wang of Harvard Business Review. He and his colleagues agree that “the question now is not about whether managers should investigate adopting AI, but about how fast they can do so.”

Don’t be mistaken, though – you can’t do it overnight. Developing your AI capability will take some serious effort, commitment, and consultation from multiple invested parties in the space before it can really take flight.

Never forget that innovation and entrepreneurship is a team sport, so ask yourself, who is on my team?


BENJAMIN LEVY

Ben is the Co-Founder of BootstrapLabs, a leading venture capital firm, based in Silicon Valley and focused on Applied Artificial Intelligence.

Some of BootstrapLabs’ portfolio companies include Prezi, AngelList, Zerply, Trusted Insight, AEye, Qurious.io, Roger.ai, Vidora, and Sibly.

Born in France and living in Silicon Valley for the past 18 years, Ben is a repeat entrepreneur who launched, built, and exited two startups in the financial technology space. Read more.

Autonomous Transportation- Rethinking Security, Infrastructure, and Experience

Announcing the BootstrapLabs Applied AI Insiders Series: Autonomous Transportation

Autonomous Transportation- Rethinking Security, Infrastructure, and Experience

BootstrapLabs is thrilled to announce the BootstrapLabs Applied AI Insiders Series: Autonomous Transportation

Event Summary:

  • Date and Time: Tue, October 3, 2017 | 6:00 pm to 9:00 pm
  • Location: Google Launchpad Space, 301 Howard Street, San Francisco, California 94105
  • Registration: this event is INVITE ONLY. If you did not receive an invitation you can request one below.

 

 

Event Description

Topic: Autonomous Transportation: Rethinking Security, Infrastructure, and Experience

Autonomous transportation goes well beyond cars and includes all modes of powered transport such as motorcycles, buses, trucks, trains, ships, helicopters, planes, and even spacecraft. There are also various degrees of autonomy levels which need to be considered in the context of fluid and frictionless mobility.
Secure and intelligent communication networks, smart sensors, reliable and fast identification, fail safe and redundancy planning must all come together for the dream to become reality and to ensure safety and security. Read more.

Speakers

Ben Levy, Co-Founder, BootstrapLabs

Ben spent the last 20 years in Silicon Valley building and exiting two FinTech startups to Mergent and NASDAQ, investing in disruptive software technologies, and advising CxOs of Fortune 500 Telecom, Media and Technology companies on corporate strategy, financing and M&A.
Ben is a member of the Association for the Advancement of Artificial Intelligence (AAAI), an Ambassador of La FrenchTech, as well as a frequent keynote speaker at industry conferences on innovation, technology investing, entrepreneurship, artificial intelligence, and globalization in the US, Europe, and Asia.

Dr. Allan Steinhardt, Chief Engineer, AEye

Steinhardt was Chief Scientist for DARPA, Chief Scientist at Booz Allen, co-author of a book on adaptive radar, and assistant professor in Electrical Engineering and Applied Mathematics at Cornell University among other experiences.

Tilly Chang, Executive Director of the San Francisco County Transportation Authority

Ms. Chang has also held posts with the World Bank, Metropolitan Transportation Commission, and a
technology startup. She serves on the boards of the California Transportation Foundation, SPUR and
the UC Transportation Centers.

More speakers will be announced soon!

Thank You To Our Host and Partner

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Announcing the Applied AI Conference 2017

BootstrapLabs is pleased to announce the return of the Applied Artificial Intelligence Conference in San Francisco on May 11, 2017.

After the incredible success of last year’s Applied AI Conference, we have expanded into a new venue and this year’s conference will be 2x bigger. There are only a few tickets left – don’t miss out – register now at this link.

Discover the latest innovation in Artificial Intelligence, and see why everyone is talking about AI today:

 

This year’s conference is focused on practical applications and the current commercialization of AI technologies across industries such as Transportation & Logistics, Internet of Things (IoT), Future of Work (FoW), Financial Technologies (FinTech), Cybersecurity, and Healthcare Technologies (HealthTech).

The 2017 conference agenda will provide insights into the present and future impact of AI on your organization, as well as in your daily life. It will also feature concrete ways, tools, and methods to prepare, organize, and tap AI’s transformative power. As active early stage investors in Applied AI, BootstrapLabs will provide an overview of the investment and consolidation landscape at the conference.

Meet our world-class speakers for this year’s conference:
  • Amir Khosrowshahi, CTO AI Products Group, Intel
  • Lanny Cohen, Group Chief Technology Officer, Capgemini
  • Jack Clark, Strategy & Communications Director, OpenAI
  • Richard Socher, Chief Scientist, Salesforce
  • Mårten Mickos, CEO, HackerOne
  • Hema Raghavan, Head of Growth Relevance, LinkedIn
  • Angie Moody, VP Innovation & Strategic Partnerships, Visa
  • Danny Lange, VP of AI and Machine Learning, Unity Technologies
  • Nicolai Wadstrom, CEO and Founder, BootstrapLabs

Full speakers list at this link.

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Announcing the Applied Artificial Intelligence in the New Industrial Revolution

AI_Industrial_Revolution_Eventbrite

 

BootstrapLabs is thrilled to announce the Applied Artificial Intelligence in the New Industrial Revolution.

Event Summary:

  • Date and Time: Thu, April 13, 2017 | 5:45pm to 8:30pm
  • Location: 44 Tehama St
  • Registration at this link.

We stand in front of the 4th and largest wave of the industrial revolution, powered by AI and Data. This is the biggest opportunity, so far, for innovation and entrepreneurship, and every single industry will be disrupted and redefined by companies that are not yet even born.

With the AI market projected to grow over 20 fold in the next 10 years, to $3Tn annually, we believe Applied Artificial Intelligence represents one of the major wealth creation opportunities of this century.

Manufacturing robots, unmanned vehicles for transportation, warehouses drones as well as space exploration and environmental monitoring empowered by new architectures for distributed computing and intelligent systems are the initial signals of the next generation of industrial systems.

The power of AI will ultimately empower humans to work closely with robots, and bring us to the new age of collaborative systems that can operate side by side with humans.

 

Speakers:

 

Ben Levy, Co-Founder, BootstrapLabs

Joshua Bloom, CTO, Wise.io (Acquired by GE Digital)

George Mathew, CEO and Chairman, Kespry

Ruban Phukan, Co-Founder, Chief Product Officer, DataRPM

Eduardo Torres Jara, Founder, Robot Rebuilt

 

Learn more about the Agenda at this link.

Special Opportunity

Attendees of the Applied Artificial Intelligence in the New Industrial Revolution will receive a special discount for the Applied Artificial Intelligence Conference 2017.

AAI17

Thank You To Our Host and Partner

Galvanize

 

Applied AI Digest

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The latest Data, Insights, and Inspiration about Applied AI

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At Sundar Pichai’s Google, AI Is Everything And Everywhere

We think of the Assistant as of an evolution of Google search,” says John Giannandrea, who, as senior VP of search, research, and machine intelligence is responsible for the technologies that power both Google search in its classic form and the Assistant. Read more.

Artificial intelligence, human brain to merge in 2030s, says futurist Kurzweil

Ray Kurzweil, Google’s director of engineering and a noted futurist and inventor, envisions a more co-operative future. He says the human brain will soon merge with computer networks to form a hybrid artificial intelligence. Read more.

The Value of Artificial Intelligence

How rapidly are the market demand and opportunity for AI growing?
In a recent report, IDC forecasts that adoption of cognitive systems and artificial intelligence (AI) across a broad range of industries will drive global revenues from nearly $8.0 billion in 2016 to more… read more.

Advancing our ambition to democratize artificial intelligence

Today, we’re excited to announce a new partnership with OpenAI focused on making significant contributions to advance the field of AI, while also furthering our mutual goal of using AI to tackle some of the world’s most challenging problems. Read more.

What Artificial Intelligence Can and Can’t Do Right Now

Many executives ask me what artificial intelligence can do. They want to know how it will disrupt their industry and how they can use it to reinvent their own companies. Read more.

Over 10 Million Self-Driving Cars to Be on the Road by 2020

Brands like Mercedes-Benz, BMW, and Tesla have released, or are about to roll out, cars equipped with some level of autonomy. Even tech companies, such as Google, are working toward putting their own self-driving cars on the road. Read more.

Come see our previous newsletters

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Applied AI Digest

New Research Center to Explore Ethics of Artificial Intelligence

The ethics center, called the K&L Gates Endowment for Ethics and Computational Technologies, is being established at a time of growing international concern about the impact of A.I. technologies. Read more.

How Artificial Intelligence Will Redefine Management

Many alarms have sounded on the potential for artificial intelligence (AI) technologies to upend the workforce, especially for easy-to-automate jobs. But managers at all levels will have to adapt to the world of smart machines. Read more.

‘STARCRAFT II’ WILL SOON BE USED AS TRAINING GROUNDS FOR ARTIFICIAL INTELLIGENCE

On Friday during the BlizzCon 2016 opening keynote, Blizzard revealed that it teamed up with Google to provide an application programming interface (API) for DeepMind to be used in StarCraft II. Read more.

The New World Of Artificially Intelligent Security

Let’s just say in 2016, when you work with startups; you hear the term AI / Artificial Intelligence thrown around a lot. It’s this season’s hottest buzzword. Got a cool new App? Yes, it’s got AI inside. Read more.

Uber is rolling out a big redesign powered by machine learning

The new Uber app features an interface its 40 million monthly riders worldwide will recognize, at least for the most part. You can request a ride just like always, but the app uses machine learning to better understand your routines. Read more.

How AI (Artificial Intelligence) Creates A Better Customer Service Experience

A year ago I wrote that I had seen the future. I had attended the IBM Insights conference in Las Vegas, an entire conference devoted to the Internet of Things, analytics, cognitive marketing and related topics. Read more.
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The latest Data, Insights, and Inspiration about Applied AI

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Applied AI Digest

Forrester Predicts Investment In Artificial Intelligence Will Grow 300% in 2017

Insights matter. Businesses that use artificial intelligence (AI), big data and the Internet of Things (IoT) technologies to uncover new business insights “will steal $1.2 trillion per annum from their less informed peers by 2020. Read more.

When Will Robots Take All the Jobs?

There isn’t much evidence from today’s statistics that human workers are on the verge of a historic shift. But just wait until the next recession. Read more.

MIT use state-of-the-art deep learning algorithms to learn how haunted faces, houses, or toxic cities look like. Then, we apply the learnt style to famous landmarks and present you: AI-powered horror all over the world! Read more.

Today`s Artificial Intelligence Does Not Justify Basic Income

Not a day goes by when we do not hear about the threat of AI taking over the jobs of everyone from truck drivers to accountants to radiologists. Read more

3 challenges for artificial intelligence in medicine

Why is the world’s most advanced AI used for cat videos, but not to help us live longer and healthier lives? Read more.

45 Artificial Intelligence Startups Targeting Retail In One Infographic

Investors poured a record high $1.05B into artificial intelligence startups in Q2’16, and AI is already affecting more areas of our lives than many people realize. Even retail and e-commerce companies are increasingly integrating the technology. Read more.

 

 

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The latest Data, Insights, and Inspiration about Applied AI

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Applied AI Digest

What Do People — Not Techies, Not Companies — Think About Artificial Intelligence?

In 1942 the author and professor Isaac Asimov introduced his Three Laws of Robotics, one of the most well-known attempts to establish workable rules integrating artificial intelligence, read more …

Cloud Security, AI, IoT Make List Of Hot Technologies For 2017

Those enterprises and IT departments that believe they are maintaining a more secure environment on-premises than the public cloud provides are a dying breed, according to the latest round of predictions from Nucleus Research. Read more.

Microsoft researchers reach human parity in conversational speech recognition

Microsoft has made a major breakthrough in speech recognition, creating a technology that recognizes the words in a conversation as well as a person does. Read more.

As Artificial Intelligence Evolves, So Does Its Criminal Potential

Imagine receiving a phone call from your aging mother seeking your help because she has forgotten her banking password.

Except it’s not your mother. The voice on the other end of the phone call just sounds deceptively like her. Read more.

This Online Education Firm Is Offering an Artificial Intelligence Training Program

Research firm Markets and Markets estimates the AI market will grow to more than $5 billion by 2020, given the rising adoption of AI across these industries. Read more.


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The latest Data, Insights, and Inspiration about Applied AI

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Announcing The Autonomous Corporation

Join us for an exciting evening with the leaders of the Autonomous Revolution.

With the AI market projected to grow over 20 fold in the next 10 years to $3Tn annually, we believe Applied Artificial Intelligence represents one of the major wealth creation opportunities of this century. Read more.

Speakers lineup:
Danny B. Lange, Head of Machine Learning at Uber
Ben Levy, Co-Founder at BootstrapLabs
Sabrina N. Atienza, Founder at Qurious.io
Alex Holub, Co-Founder at Vidora
Cathrine Andersen, Co-Founder at Roger.ai

The Autonomous Corporation is a can’t miss opportunity for AI leaders and startup entrepreneurs. It will take place on November 15th from 5:45 pm to 8:30 pm in San Francisco.

We extended a limited number of early bird tickets to the Applied AI Digest subscribers.

Applied AI Digest

Barack Obama, neural nets, self-driving cars, and the future of the world

IT’S HARD TO think of a single technology that will shape our world more in the next 50 years than artificial intelligence. Read more.

Google’s ‘DeepMind’ AI platform can now learn without human input

In a significant step forward for artificial intelligence, Alphabet’s hybrid system — called a Differential Neural Computer (DNC) — uses the existing data storage.. read more.

Apple has hired a big brain in AI to make Siri less dumb

Apple has hired a Carnegie Mellon University professor to head up a team working on artificial intelligence as tech giants increasingly place big bets on machine learning as a key part of their future. Read more.

Why artificial intelligence will finally unlock IoT

Connected devices that leverage AI to help with real-time analytics are here today, and widespread adoption is on the rise. Read more.

Artificial intelligence is transforming ERP solutions

Without a doubt, artificial intelligence (AI) will have a profound impact on the footprint of enterprise resource planning (ERP) solutions in the foreseeable future. Read more.

The Administration’s Report on the Future of Artificial Intelligence

Under President Obama’s leadership America continues to be the world’s most innovative country, with the greatest potential to develop the industries of the future and harness science and technology to help address important challenges. Read more.

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Join Now

Why Cortana’s new boss is obsessed with artificial intelligence

The new Microsoft AI and Research Group will be led by computer vision pioneer and executive vice president Harry Shum, whose 20-year Microsoft career involves leading read more…

Why deep learning is suddenly changing your life

Decades-old discoveries are now electrifying the computing industry and will soon transform corporate America. Read more.

Samsung to Acquire Viv

The deal showcases Samsung’s commitment to virtual personal assistants and is part of the company’s broader vision to deliver an AI-based open ecosystem across all of its devices and services. Read more.

How artificial intelligence is changing online retail forever

Artificial intelligence is all around us, from searching on Google to what news you see on social media to using Siri. Read more.

Elon Musk’s OpenAI is Using Reddit to Teach An Artificial Intelligence How to Speak

NVIDIA has delivered the first DGX-1 supercomputer to OpenAI. The supercomputer has a whopping 170 teraflops of computing power—equivalent to 250 conventional servers. Read more.

MIT Open course on AI

This course introduces students to the basic knowledge representation, problem solving, and learning methods of artificial intelligence. Learn more.

Dear Applied AI Digest readers,

From the end of October we will start featuring some of the most exciting AI products in our newsletter and you will be able to suggest your favorite as well!

This new addition will provide great visibility to the companies behind the products and help the hard working founders in our community!

Don`t hesitate to contact us and share your favorite AI product!

Best regards,
The BootstrapLabs team.