Congratulations to Matt Man and Navin Kaminoulu – INDUS.AI acquired by Procore Technologies, Inc., a leading provider of construction management software.

BootstrapLabs is pleased to share that Procore Technologies, Inc. (NYSE: PCOR) acquired our portfolio company INDUS.AI on May 6, 2021.

Unlike the design, planning, and virtualization phases of the construction industry, the actual construction phase, where 90% of the time and money is spent, has seen very little improvement with the advances of computing power and software, until now. 

INDUS.AI uses machine vision technology to turn real world events into measurable insights, and helps developers and contractors reduce the $10 trillion dollars being wasted each year due to inefficiencies and delays. The company is growing fast and already covers 100 million square feet across 32 construction sites. 

All parties involved, including the cities and governing agencies, benefit from the increased transparency, safety and visibility provided by the Indus.ai software platform, offering an opportunity for the company’s technology to become a new standard for the construction industry. 

Indus.ai has been a BootstrapLabs portfolio company since 2017.

“Our customers depend on the Procore platform as their system of record. With our investments in analytics and AI, we’re becoming their system of intelligence and helping our customers unlock the value of their project data through powerful insights that enable better, data-driven decisions.”

Tooey Courtemanche, Procore founder and CEO

“Since 2017, INDUS.AI has been using computer vision and AI to improve the lives of construction professionals, freeing them up to focus on the most important parts of their projects. The Procore platform contains immense amounts of visual data, and we’re looking forward to transforming it into actionable construction knowledge together,”

Matt Man, Co-Founder and CEO of INDUS.AI

You can read the full press release below:

CARPINTERIA, Calif., May 6, 2021 – Procore Technologies, Inc., a leading provider of construction management software, today announced it has acquired INDUS.AI, makers of an artificial intelligence-powered analytics platform for the construction industry. This acquisition adds computer vision capabilities to the Procore platform, helping owners, general contractors, and specialty contractors realize greater efficiencies, safety, and profitability. Terms of the transaction are not being disclosed. Read More.

Flashback: BootstrapLabs Applied AI Conference – Transforming the Food Industry with Applied AI

The BootstrapLabs Applied Artificial Intelligence Conference 2019 #AAI19 brought together the brightest and most experienced experts in the field of AI for an immersive day of learning, discussion, and connection.

On BootstrapWorks we have released the videos from this past conference to relive the moments and spread the knowledge around the diverse topics covered by our experts on stage. 

BootstrapLabs has built a community of more than 40,000 people from over 60 countries who care about applying Artificial Intelligence to solve the hardest problems of our society.

Get access to practical wisdom on Applied AI methodologies and take advantage of AI’s powerful potential, sign up here to receive the videos directly into your inbox. 

By 2050, world population is projected to reach over 9 billion, increasing the demand for food dramatically. In this session, panelists Walter Robbformer Co-CEO of Whole Foods, and Adam Greenberg, CEO of iUNU, discuss how to create and incentivize a healthier, more transparent, and more efficient food supply through controlled environment agriculture (CEA), computer vision, precision agriculture, and other emerging AI applications.

Moderator: Benjamin Levy, Co-Founder, BootstrapLabs

Panelists: Adam Greenberg, Founder & CEO, iUNU; Walter Robb, Principal, Stonewall Robb Advisors, Entrepreneur & Former Co-CEO, Whole Foods Market

Some of the key takeaways from the session are:

  • We have come to a great inflection point with increased disruption, change and opportunity in food and agriculture.
  • Currently we are still losing 40% of food we produce and we are using 5 pounds of soil for every pound of food which means that we are burning through our soil.
  • On the other side, the use of synthetic chemicals (pesticides, fertilizers) will be outperformed by botanicals and consumers are increasingly aware that the quality of food matters.
  • Technology today helps to serve the customer the way they want to be served and the companies which take a tech-forward approach in their go-to-market strategy succeed.
  • Challenges in agriculture today:
    • Farmers can lose 20-30% of plants because they do not know where they are.
    • 63% of growers are above 50 years old but replenish rate is only at 2-3% per year which means knowledge and working power gets lost.
  • The question is how to scale a grower. Currently, they spend between 5-10% a day using their knowledge to solve problems. By bringing the problem to them, they can focus on these issues 60-80% of their time.
  • iUnu is offering an automated inventory tracking software with robotic vision and AI to identify issues and allow forecasting. This way they provide value and context to producers (who often are not tech savvy) with an easy to use system.
  • Future developments:
    • The number of farms in the US is down, but organic and indoor farming is growing.
    • Soy-based proteins could be up to 30% of the market.
    • More biodiversity will be discovered in the next world of food while today, 75% of our food is based on 12 plants and 5 animals.
    • Food will be a big part of the healthcare because health and nutrition is individually based on your biome and can now be tailored with modern technology.
    • Soon stores will be able to recognize consumers and tailor real-time offers if the consumer gives permission.
  • Other current AI developments include tracking insects to give recommendations how to treat pests more efficiently as well as assessing the combination of foods to figure out the unintended consequences of putting foods together.

About Ben Levy:
Prior to BootstrapLabs, Ben Levy was a repeat entrepreneur who launched, built, and exited two startups in the financial technology space, Praedea Solution and InsideVenture. He was also a Technology, Media, and Telecom Investment Banker who advised startup founders and CEOs of Fortune 500 companies on corporate strategy, financing, and M&A. Ben helped his clients raise over $300M from institutional investors and close over $5B in M&A transactions. Ben is a frequent keynote and panel speaker on innovation, technology investing, entrepreneurship, AI, and globalization in the US, Europe, and Asia.

About Adam Greenberg:
Adam Greenberg has a passion for solving fundamental global challenges and brings a clear vision of how iUNU will be a major player in that solution. Adam grew up with a love for agriculture through the lens of his botanist father. He founded iUNU in 2013 as he saw how precision agriculture could revolutionize food production. Adam earned his degrees in Finance and Entrepreneurship from the University of Washington. He spent two years at Amazon, but ultimately found his passion in leading innovation. Adam enjoys presenting for organizations such as the U.S. Farm Bureau, Indoor AgCon, Orange telecommunications and many more.

About Walter Robb:
Former Co-CEO of Whole Foods Market Walter Robb has a long and varied entrepreneurial history, ranging from natural food retailer to farmer to consultant. Robb joined Whole Foods Market in 1991 and was named co-CEO in 2010, at which time he joined the Whole Foods Market Board of Directors. In 2017, Robb transitioned his focus to his role as an advocate for greater food access in underserved communities, serving as Chairman of the Board for Whole Kids Foundation and Whole Cities Foundation. Robb is an Executive in Residence at S2G Ventures and serves on the Board of Directors for Union Square Hospitality Group, The Container Store, FoodMaven, HeatGenie and Apeel Sciences.

Founder Stories – Hayden AI

Hayden AI – Applied AI and Smart Cities

The concept of Smart Cities has evolved as a need for cities to operate more efficiently and serve their citizens better. The problem is that today’s cities are data poor – they have very little real-time or historical data about what exists in their cities and what happens on their streets and curbs.

Gathering detailed data leads to insights and knowledge that can be used for everything from traffic enforcement and maintenance of infrastructure, to long-term planning and policy, which is essential not just for creating the cities of tomorrow, but for the efficient use of local tax dollars and the safety of its citizens.

Hayden AI’s platform provides cities with the ability to automate the gathering of real-time data using advanced computer vision and artificial intelligence to create a Digital Twin and knowledge graph of a city’s streets and curbs and the events that take place there.

Early customers are looking to use Hayden AI’s platform for real-time and automated traffic enforcement, such as bus lanes and school bus violations in major US cities.

Next, Hayden AI will expand their offering to cover a wide range of automated AI powered services and insights to empower the smart cities of the future.

Hayden AI has been a BootstrapLabs portfolio company since 2020.

Chris Carson, a former U.S. Marine in the Fleet Anti-Terrorism Team (FAST), is the founder and CEO of Hayden AI. Chris and the founding team have experience in deploying sensor systems, computer vision, and state-of-art Simultaneous Localization and Mapping (SLAM) systems for autonomous vehicles and Smart City applications. He is a global strategy, innovation, venture development expert, and thought-leader for disruptive and digital innovation. Chris cultivated his expertise over 20 years, working in various operations and engineering roles with technology-driven multinationals, startups, and consultancies. Chris holds a Ph.D. in Information Architecture and Computer Vision from Waseda University.

Vaibhav Ghadiok is the co-founder and VP of Engineering at Hayden AI. Vaibhav is an engineering leader with a track record of productizing robotics technology from lab to industry. He has 10+ years of experience in sensing, perception, navigation, and control of autonomous UAVs and mobile robots. Vaibhav has an extensive ability to build and lead multi-disciplinary teams spanning theory to systems while working cross-functionally with product, sales and business development. Vaibhav received a Master of Science in Mechanical Engineering at University of California, Riverside, and a Master of Science in Electrical Engineering at Utah State University.

Bo Shen is the co-founder and CTO at Hayden AI. Bo has extensive industry experience in developing large scale, high performance multimedia systems, especially in the areas of image/video/audio coding, distributed caching and adaptive streaming, computer vision, and machine/deep learning. He also has distinguished research experience in areas of multimedia signal processing and networking systems. Bo received a Ph.D. in Computer Science at Wayne State University.

Michael Byrne is the co-founder and VP of Product Management at Hayden AI. Michael is a passionate and dynamic professional with 20+ years of experience in product development & business strategy. He spent 18 of those years in the product management, marketing, and business growth of key technologies for the safety & risk management industries with a primary focus on commercial fleets, commercial insurance, automotive OEMs, and strategic platform partnerships. Michael has also extensive experience in C-level enterprise sales, contract negotiations, channel development & relations, product marketing & business strategies, as well as formal public speaking. Michael received a Bachelors of Science in Mechanical Engineering at San Diego State University.

Flashback: BootstrapLabs Applied AI Conference – How AI is Shaping the Future of Manufacturing, Construction & Industrial Design

The BootstrapLabs Applied Artificial Intelligence Conference 2019 #AAI19 brought together the brightest and most experienced experts in the field of AI for an immersive day of learning, discussion, and connection.

On BootstrapWorks we have released the videos from this past conference to relive the moments and spread the knowledge around the diverse topics covered by our experts on stage. 

BootstrapLabs has built a community of more than 40,000 people from over 60 countries who care about applying Artificial Intelligence to solve the hardest problems of our society.

Get access to practical wisdom on Applied AI methodologies and take advantage of AI’s powerful potential, sign up here to receive the videos directly into your inbox. 

Construction, manufacturing, and industrial design projects are often far too complex to be effectively managed by people. It is in this capacity that AI is uniquely suited to help. This keynote and fireside chat brings together Matt ManCo-Founder and CEO of Indus.ai, and Mike HaleySenior Director of AI and Robotics at Autodesk. They will discuss how to leverage AI’s capacity for synthesizing real-time data in support of managing, predicting, and optimizing for safety, quality, productivity, and efficiency within the construction and manufacturing industries.

Presenter: Matt Man, Founder & CEO, indus.ai

Panelist: Mike Haley, Senior Director of AI & Robotics, Autodesk

Some of the key takeaways from the session are:

  • Choosing the right problem to solve with AI is as important as the problem.
  • Manufacturing ($31T), real estate & construction ($25T) and industrial (mining, agriculture, utilities etc.) ($15) are trillion dollar markets for next generation services. Opportunities for AI include better planning and scheduling, safer environments, higher productivity, less waste and more agility and resilience.
  • Try to look at a problem with a limited amount of failure in the system still provides high value (e.g. 97% of accuracy). Automate existing processes – then take a look where there are new capabilities to do things differently.
  • Monitoring construction sites nowadays is still mostly done via pen and paper and a few people on site. This is a reason why 90% of construction projects over-budget by 80% which represents $10T of waste.
  • Indus.ai created a tool for the smart construction site, where computer vision and ML/AI deliver actionable insights on progress tracking, worker metrics, truck/materials arrivals and overall site production analytics. This provides 10x of the normal visibility, and helps avoiding mistakes early, checking progress and giving insight on how to build a much better plan.
  • Traditionally manufacturers and designers were separated from each other, but with large amounts of data and AI one can incorporate the process how something is built and used as well as the used materials and supply chains into the design process to create an optimal design that flows right into the process of manufacturing and construction.
  • Generative design explores a design with thousands of permutations e.g. on the different forces that impact a seatbelt bracket. This way, a car company designed a new bracket that uses 30% less materials and is 40% lighter.
  • Autodesk’s BrickBot project consists of an adaptive robot that learns how to build Lego from a physics and visual simulator that simulates what the camera and torque sensor on the arm will feel. This way it can go through a million iterations in a few hours so when it actually starts building, it already knows what to do.
  • Future outlook:
    • Imagine if construction sites had three adaptable machines instead of hundreds of specialists – it would be much more flexible, safe and efficient.
    • Today, most AI is very limited on an area of expertise – there is no AI that is applied at the systems level because it is quite complex with high levels of freedom. The only way to be efficient is to understand the system – evolving AI to gain to that level of understanding is a vision with tremendous reward.

About Matt Man:
Matt Man is the founder and CEO of indus.ai, a construction intelligence company. Before indus.ai, Matt co-founded a mobile technology company GreenOwl Mobile and deployed 40+ smart city products in over 25 cities, worldwide. GreenOwl Mobile was acquired by one of the largest architecture and design technology firms in the world, IBI Group. Matt has specialized in deploying technology to Enterprise and Industrial markets for 20 years and has developed a deep understanding of the challenges operating in the industrial environments. His experience with AI was first developed at the University of Toronto, where he pioneered his first neural network to translate sign language to spoken words 25 years ago.

About Mike Haley:
Mike leads the Machine Intelligence group at Autodesk Research where they identify, evaluate, and develop disruptive technologies that improve the practice of imagining, designing, and creating a better world. His team combines research, development, and user experience in coupled iterative cycles to develop new products and foundational technology. For the last several years Mike’s team has been focused on bringing geometric shape analysis and large scale machine learning techniques to 3D design information with the intent to make software a true partner in the design process.

Formerly, Mike led the move of Autodesk products from the desktop to the cloud by driving the adoption of scalable distributed compute and data technology. Prior to joining Autodesk, Mike performed research and product development in the fields of volumetric graphics, distributed multimedia, computer vision, and embedded systems. He is drawn to areas where he can combine his 25 years of experience in computer graphics, distributed systems, and mathematical analysis. Mike holds an MS in computer science from the University of Cape Town, South Africa.

Founder Stories – NavTrac

NavTrac – Applied AI and Logistics 

The size of the global logistics industry is estimated at approximately $10 trillion annually, representing approximately 10% of the global GDP. Like many other traditional industries, transportation and logistics is confronting immense challenges and changes.

BootstrapLabs has been tracking this industry and we believe that the growth of collaboration, digitalization and standardization of shipments, labeling, and systems will have a large impact here. Currently, global supply chain infrastructure is fragmented, complex and still mostly analog. Incumbents in the industry have limited access to and understanding of digital technology.

Companies like NavTrac are quickly transforming the industry by automating data and tracking by integrating AI and computer vision.

Starting with Container Yard Management, NavTrac has created the first digital platform of its kind to manage the data and track containers from the point a container arrives on the shipment dock or yard. The company has already successfully deployed its AI system to some of the largest players in the market and revenues are now growing 20% MoM.

NavTrac has been a BootstrapLabs portfolio company since 2019.

John Daniels is Chief Executive Officer and Co-Founder at NavTrac. He is responsible for driving the vision of the company, more than doubling NavTrac’s revenues in the middle of the pandemic with some of the largest transportation and logistic players, as well as growing a team of super talented engineers and business development individuals. Prior to NavTrac, John was a research analyst covering the transportation sector. John has extensive experience utilizing satellite, unmanned aircraft systems and other alternative sensors to collect data in the industrial economy. John holds a BA from Columbia University.

Mihail Pivtoraiko is the Chief Technology Officer and Co-Founder at NavTrac. He is responsible for developing NavTrac’s high-performance machine vision software platform, with an accuracy rate of 99.7% and decreasing industry processing speed from days to minutes, and eventually seconds. Prior to NavTrac, Mihail completed his PhD at Carnegie Mellon University and postdoc at the GRASP lab at the University of Pennsylvania, under the guidance of the world-renowned robotics professor Vijay Kumar. Mihail previously worked at Intel Corp, NASA Jet Propulsion Laboratory and at Lockheed Martin as part of the DARPA Robotics Challenge.

Flashback: BootstrapLabs Applied AI Conference – How AI + Networking Can Solve “Unsolvable” Problems

The BootstrapLabs Applied Artificial Intelligence Conference 2019 #AAI19 brought together the brightest and most experienced experts in the field of AI for an immersive day of learning, discussion, and connection.

On BootstrapWorks we have released the videos from this past conference to relive the moments and spread the knowledge around the diverse topics covered by our experts on stage. 

BootstrapLabs has built a community of more than 40,000 people from over 60 countries who care about applying Artificial Intelligence to solve the hardest problems of our society.

Get access to practical wisdom on Applied AI methodologies and take advantage of AI’s powerful potential, sign up here to receive the videos directly into your inbox. 

Though Applied AI is widely known for its role in facial recognition and self-driving technology, few people think of AI when they think of computer networks. As computer networks become increasingly complex, encrypted, and under attack, machine learning and applied AI is well situated to support keeping networks safe while maintaining privacy. From finding malware in encrypted traffic without decrypting the traffic to moving from Cloud-based ML to distributing ML across Edge and Cloud, applying ML and AI to computer networks can lead to improved scalability, cost, and privacy.  Join VP and CTO of Cisco’s Enterprise Networking BusinessJohn Apostolopoulos, as he discusses the next generation of computer networking.

Speaker: John Apostolopoulos, VP/CTO of Enterprise Networking, Lab Director of Innovation Labs, Cisco

Some of the key takeaways from the session are:

  • Cisco uses AI to:
    • count people to automate processes in buildings or to display individual names in video-conferencing.
    • detect and classify irregular noises to propose muting audio during video calls.
    • identify problems in large networks and propose solutions.
    • identify which devices are on the network to increase efficiencies, reliability and security.
    • identify malware in end-to-end-encrypted traffic without requiring decryption.
  • Reasons for moving AI processes to the edge of the network (instead of in the cloud or at the client side):
    • In video analytics, sensors create plenty of data even with compression
    • Cloud-based ML has issues with bandwidth, latency and privacy. If we move execution and learning to the edge we gain reduced bandwidth, improved scaling, lower latency and privacy-preserved learning. The question that many institutions research is how we can aggregate learning across multiple edges.
  • Cisco achieved privacy-preserved learning with AI at the edge by generating synthetic images of people that captured the key attributes needed by the AI agent but preserved the privacy by anonymizing the images.
  • We need more of these tools that analyze if a system successfully preserves privacy. If we jointly design networking and AI carefully together, we can solve a lot of current issues and provide the base for new technologies like AR/VR, autonomous vehicles, blockchain and smart cities.

About John Apostolopoulos:
As VP and CTO of Cisco’s Enterprise Networking Business, John Apostolopoulos is designing the next generation of computer networking. His work includes wireless (from WiFi to 5G), Internet of Things, multimedia networking, visual analytics, and machine learning. John is an IEEE Fellow and was named “one of the world’s top 100 young innovators” by MIT Technology Review, and contributed to the US Digital TV Standard (Engineering Emmy 1997). He published over 100 papers, receiving 5 best paper awards, and about 75 granted patents. John was a Consulting Associate Professor at Stanford and received his B.S., M.S., and Ph.D. from MIT.

Founder Stories – GetAccept

GetAccept – Applied AI and Enterprise Productivity

Historically there has been a perception that if an employee was not in the office, they were not working. This year’s pandemic has forced millions of companies across the globe to shut down their offices and ask their employees to work remotely. Yet, contrary to expectations, many organizations, large and small, have experienced a boost in productivity, primarily driven by the adoption of new software technologies.

Stocks from enterprise productivity software companies such as Zoom (ZM +487%), Docusign (DOCU +205%), Okta (OKTA +113%), and Slack Technologies (WORK +89%) have displayed impressive gains this year – and reflect a clear signal that economies and their businesses have not stopped working, but transformed into a more digital and decentralized enterprise model. The worldwide acceleration of this digital transformation is in turn creating an explosion of new data that creates exciting new opportunities for automation and artificial intelligence applications.

For the past five years, BootstrapLabs has been investing in AI applications that are accelerating Enterprise Productivity and defining the Future of Work. One of our portfolio companies – GetAccept – has been helping companies accelerate their sales throughout the pandemic, and recently raised a $20M Series B round led by Bessemer Venture Partners, with participation from existing investors such as BootstrapLabs, DN Capital and Y Combinator.

GetAccept helps small and medium-sized businesses, and their sales reps, close more deals remotely by enabling, prioritizing, and automating more personalized, engaging, and convenient asynchronous sales communication and contract execution.

GetAccept has been a BootstrapLabs portfolio company since 2017.

Samir Smajic is co-founder and CEO at GetAccept. He has more than 10 years of experience in CRM solutions. He has prior experience working with co-founders at Lime Technologies AB. Samir received a Master of Science in Mechanical Engineering at Lund University.

Jonas Blanck is co-founder and CTO at GetAccept. Jonas prior served as CTO and worked for over 10 years in email marketing and has developed solutions for email designing, deliverability enhancement and advanced email marketing. Jonas received a Bachelors of Science in Computer Science at Lund Institute of Technology.

Carl Carell is co-founder and CSO at GetAccept. Carl co-founded Adsensus Denmark and helped the company to expand across Norwegian, Finnish, and Danish markets. He has over 10 years of experience in Sales & Marketing. Mr Carell received a Bachelors of Science in Business Administration concentration in Finance at Lund University.

Mathias Thulin is co-founder at GetAccept. Mathias founded Apsis ProspectEye, one of the most successful lead generation and marketing automation platforms in the Nordic countries. He has over 10 years of experience in Sales & Marketing. Mathias received a Master of Science in Engineering and Industrial Management at Lund University. He was awarded Entrepreneur of the year in Malmö 2020 – Tillväxt Malmö.

Flashback: BootstrapLabs Applied AI Conference – Enterprise AI Applications

The BootstrapLabs Applied Artificial Intelligence Conference 2019 #AAI19 brought together the brightest and most experienced experts in the field of AI for an immersive day of learning, discussion, and connection.

On BootstrapWorks we have released the videos from this past conference to relive the moments and spread the knowledge around the diverse topics covered by our experts on stage. 

BootstrapLabs has built a community of more than 40,000 people from over 60 countries who care about applying Artificial Intelligence to solve the hardest problems of our society.

Get access to practical wisdom on Applied AI methodologies and take advantage of AI’s powerful potential, sign up here to receive the videos directly into your inbox. 

Companies are under tremendous pressure to adopt AI technology across their organizations in order to stay competitive, with the majority of companies needing to re-invent their core products and services using proprietary AI technology instead of off-the-shelf SaaS solutions. Moderator Jaime Fitzgibbon, Innovation Strategist at Booz Allen Hamilton, leads a conversation with panelists Rahul Sachdev, Co-Founder and CEO of Fortella; Alex Holub, CEO of Vidora; Vidya Raman, Director of Product Management and ML at Cloudera; and Bahman Bahmani, Director of Data Science at Rakuten, about best practices and design principles for Enterprise AI. Panelists address how to make AI productivity gains accessible to as many people as possible across an organization, how to increase adoption of AI within an organization, and how to innovate faster by making the development process of AI for enterprise more inclusive of non-data scientists.

Moderator: Jaime Fitzgibbon, Innovation Strategist, Booz Allen Hamilton

Panelists: Rahul Sachdev, Co-Founder & CEO, Fortella; Alex Holub, CEO, Vidora; Vidya Raman, Director of Product Management & ML, Cloudera; Bahman Bahmani, Director of Data Science, Rakuten

Some of the key takeaways from the session are:

  • AI councils in companies have three main mandates:
    • Ensure a common understanding about AI and ML within the organization.
    • Create a tabular layout where investments in ML are being made and which represent the highest ROI.
    • Sharing case studies between business units and organizations.
  • Three main areas where value can be made with the help of AI in enterprises:
    • Operational excellence
    • Product leadership
    • Customer intimacy
  • Implementing AI: Data is the foundation of AI – make sure you have the right clean data pipeline into a centralized location and start small and collaborate early to tailor the data collection to the AI tool.
  • Regulation is important to preserve privacy and the option to delete PII needs to be built in the data structure, while it is also a driver for more automation in the data analytics process.
  • Enabling the AI tool user to override predictions or decisions is key for critical applications to give quality control over the system.
  • Three sources of scale at Rakuten:
    • Automation in DevOps to forward the full CI/CD pipeline from development to deployment.
    • Outsource data wrangling to junior positions which creates a good career path and frees the schedule for the data scientist who can focus on doing their most productive work.
    • Building and managing a globally distributed team.
  • The mindset of building everything in-house gets in the way of broader adoption of AI because talent is scarce and automation tools like Vidora help to solve time-consuming processes like data wrangling and modeling, enabling data scientists to focus on the problem itself.
  • Venture capital investment increased from $4B in 2016 to $10B in 2018 which produced many tools that can be utilized rather than building everything in-house.
  • Open source will be a tremendous opportunity for companies to experiment before fully committing and machine learning enables people to do more while opening up time for creativity.

About Jaime Fitzgibbon:
Jaime Fitzgibbon is Senior Associate at technology strategy consultancy Booz Allen Hamilton. Over the past 3 years, she has been building an innovation office focused on tracking technology trends and emerging tech solutions for client’s toughest mission challenges. She serves as a mentor to start-ups, has spoken and written articles on the core elements for building a viable innovation ecosystem, and developed the classroom of the future strategy for a local school. She serves on the board of the German School of San Francisco as well as other community organizations’ advisory councils.

About Rahul Sachdev:
Rahul Sachdev is the co-founder and CEO of Fortella – an AI-based Revenue Driven Marketing software company. He is a technology executive with experience in marketing, CRM and social domains. Prior to Fortella, Rahul served as the CEO of Get Satisfaction, an online community platform for marketing and customer support. Earlier Rahul was the head of content sharing and workplace products at LinkedIn, and General Manager of the Communications, Media & Energy product at Siebel Systems. Rahul holds an MBA from the University of Chicago’s Booth School of Business and a BSc with Honors in Electrical and Electronic Engineering from Loughborough University (UK).

About Alex Holub:
Alex Holub studied artificial intelligence throughout his academic career at Cornell University and during his Ph.D at Caltech. He has published over 15 academic papers and holds numerous patents in the areas of machine learning, computer vision, and artificial intelligence. Prior to co-founding Vidora, Alex was a technical and product management lead at Ooyala.

About Vidya Raman:
Together with different product teams, Vidya Raman has built and grown enterprise businesses as a product leader in several industry verticals ranging from Telecom, Healthcare, Energy and IoT. Most recently, she led product management for Cloudera’s AI platform, where she was responsible for making AI at scale a reality for customers spanning industries such as autonomous driving, biotech, banking to governments. Prior experience includes eMeter (Sequoia-funded, acquired by Siemens), Silver Spring (Kleiner funded and IPO exit), Medtronic (healthcare). Currently she is an early-stage venture investor.

About Bahman Bahmani:
Bahman Bahmani is a Director of Data Science at Rakuten (the 7th largest internet company in the world), managing an AI organization with engineering and data science managers, data scientists, machine learning engineers, and data engineers, globally distributed across 3 continents and in charge of the end-to-end AI systems behind the Rakuten Intelligence suite of products. Bahman has built and managed engineering and data science teams across industry, academia, and the public sector in areas including digital advertising, consumer web, cybersecurity, and non-profit fundraising, where he has consistently delivered substantial business value. He has also designed and taught courses, led an interdisciplinary research lab, and advised several theses in the Computer Science department at Stanford University, where he also did his own PhD focused on large-scale algorithms and machine learning, topics on which he is a well-published author.

Founder Stories – Myia Health

Applied AI and Healthcare: Myia Health developed an intelligent patient monitoring platform to better support patients with chronic conditions, a $38Bn industry. 

International Data Corporation (IDC) estimates that by 2020, over 2,300 exabytes (one billion gigabytes) of clinically-relevant data we will be generated, with the vast majority coming from non-clinical settings such as personal medical sensors. Thanks to its proprietary AI technology, Myia Health not only makes this data available to clinicians, but is also capable of providing key insights about the current and future health of patients, facilitating richer and personalized patient-clinician dialogue, increasing compliance, and allowing for better care-planning.

Myia Health’s intelligent patient monitoring platform supports patients with chronic conditions such as heart failure, chronic obstructive pulmonary disease (COPD), diabetes, and hypertension, a $38 billion industry in 2019, that is expected to surge to $130 billion by 2025. Myia’s partnership with Mercy Virtual is poised to revolutionize the industry and become a key standard of care in the upcoming “outcome based” healthcare system.

Myia uses AI technology to predict patient health status and augment the power of frontline clinicians with levels of patient insights that were previously inaccessible.

Myia Health has been a BootstrapLabs portfolio company since 2018.

Simon MacGibbon is co-founder and CEO at Myia Health. Simon has over 20 years of experience using technology to drive transformational industry change, in both consumer and complex B2B settings. Prior to co-founding Myia Health, Simon co-founded the Boston Consulting Group’s Digital Ventures business, where he led teams responsible for imagining, building, and investing in data-driven technology platforms to help some of the world’s most influential companies innovate with startup-like speed. Formerly, Simon was an Associate Partner at McKinsey & Co. and a leader in the systems integration area at IBM Global Services. He has a BSc from Otago University in New Zealand and a BA (Hons) in Applied and Industrial Psychology from the University of Canterbury.

Bryan Smith is co-founder and CTO at Myia Health. Bryan is a multidisciplinary executive leader applying advanced analytics, machine learning, and interactive data visualization methods to help organizations and individuals maximize the value of their data as an asset. He has proven ability to function as a key individual contributor as well as an executive leader, skilled at identifying the optimal balance between those functions as required by each unique role. Brian is an excellent communicator, able to convey complex ideas to client executives as well as speak the language of technical team members. He received a Bachelor’s of Science in Neuroscience and Chemistry at University of Southern California, and a Ph.D. in Neuroscience at Caltech.

Sam Rawstorne is co-founder and COO at Myia Health. Sam has over 20 years of experience growing teams and launching companies. He has extensive experience in Recruiting, HR. EIR at BootstrapLabs and BCG Digital Ventures. He received a Bachelor of Arts Hons, at the University of the Arts London.

The story of our Principal Luigi Congedo on Forbes Italia

On March 10th, Luigi was featured on Forbes Italia as one of the young emerging venture capitalists of artificial intelligence in Silicon Valley. Below you can find an extract of Luigi’s interview:

“Your work will fill a large part of your life and the only way to be truly satisfied is to do what you think is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle for it. As with all matters of the heart, you will know when you find it ”. So believed Steve Jobs, who was able to inspire many entrepreneurs and visionaries like him. Luigi Congedo , 31, venture capitalist of BootstrapLabs , arrived in Silicon Valley at a very young age, becoming one of the 30 under 30s of Forbes Italia for 2018. “Steve Jobs was the first great entrepreneur, inventor and visionary I was inspired by.” […]

“He comes from Naples.”

“I consider myself very lucky to have been born in Naples. My hometown has a great cultural and soul wealth. This has allowed me to be a social and positive person, qualities that have helped me to be successful.” […]

“Do you think AI can also be dangerous?”

“It is up to us – society, politicians and entrepreneurs – to decide how to use technology and innovation. BootstrapLabs philosophy is to choose investments that create long-term utility and vertical solutions in specific industries, such as healthcare, logistics, agriculture, energy, and smart government.” […]

“How has Covid-19 changed the world of investments?”

“Our core investment theses have not changed, but we have seen a strong acceleration of many tech trends. The coronavirus has caused an acceleration of digital transformation on a global scale and in all sectors.” […]

“What are the most interesting sectors in the future?”

“I think the use of artificial intelligence is among the most promising trends. Among the sectors I look at with great interest there are cybersecurity, healthcare and climate.” […]

Below you can read the full press release:

MILANO, Italy, Mar. 10, 2021 /Forbes/ — La storia di Luigi Congedo, il giovane napoletano diventato venture capitalist dell’intelligenza artificiale nella Silicon Valley. Read More.

Flashback: BootstrapLabs Applied AI Conference – Will AI Break or Save the Internet?

The BootstrapLabs Applied Artificial Intelligence Conference 2019 #AAI19 brought together the brightest and most experienced experts in the field of AI for an immersive day of learning, discussion, and connection.

On our BootstrapWorks we have released the videos from this past conference to relive the moments and spread the knowledge around the diverse topics covered by our experts on stage. 

BootstrapLabs has built a community of more than 40,000 people from over 60 countries who care about applying Artificial Intelligence to solve the hardest problems of our society.

Get access to practical wisdom on Applied AI methodologies and take advantage of AI’s powerful potential, sign up here to receive the videos directly into your inbox. 

Together, the lack of attribution models, an integrated identity, and the complexity of establishing global privacy and ethical standards within the core building blocks of the Internet pose a critical threat to the very fabric of our modern society. Moderator Daniel RiedelFounder and CEO of New Context, and panelists Erin Kenneally of the U.S. Department of Homeland SecurityHerb Kelsey of Quantum VaultJason Hoffman of MobileEdgeX, and Jonathan Ward of Atlas Organization discuss how AI has contributed to the exacerbation of state actors, terrorist organizations, and criminals’ political and ideologically motivated use of the internet for financial gain. The panelists also explore how AI presents an opportunity to alleviate that threat by strengthening our existing digital infrastructures and creating stronger platforms for the future stability, economic prosperity, and security of our society, companies, and citizens.

Moderator: Daniel Riedel, Founder & CEO, New Context

Panelists: Erin Kenneally, Portfolio Manager, Cyber Security Division, Science & Technology, U.S. Department of Homeland Security; Herb Kelsey, Founder & CEO, Quantum Vault Inc.; Jonathan Ward, Founder & CEO, Atlas Organization; Jason Hoffman, President & CEO of MobiledgeX.

Some of the key takeaways from the session are:

  • Currently, we do not have a collective mental model for AI and risk. AI is forcing a conflation of rights as well as individual, company and state interests like privacy, free expression, security, critical infrastructures etc.
  • AI is a tool and a strategy focused on optimization and care. It is very difficult to optimize something and thus important to have a strategy around how to optimize something and to understand all implications of that process.
  • AI is used in scoring and recommender systems, news feeds and search results and for classification prediction (crime, health etc.) which bears certain risks.
  • In a time of continuous accelerated change, it is important to go back to fundamental truths: The ability to generate unique insights via proprietary access to data is always advantageous.
  • If the delta between our growing AI capabilities and our expectations (laws: privacy, data protection, human rights etc.) continues to grow, we have:
    • Inefficient avoidance of risk.
    • Increasing tensions between legitimate stakeholders.
    • Undermining of trust in our ordering forces (law, markets etc.).
  • AI will break the internet, if:
    • It is in the hands of an attacker, allowing higher efficiencies in creating synthetic identities to simulate transactions, because this eliminates trust.
    • Automated social network behavior to influence politics as well as automated trolling or racist comments become the norm.
    • We fail to align our expectations with our capabilities.
  • AI will save the internet, if:
    • We use it successfully to protect, care for and optimize membership in open and insecure networks like the internet.
  • The pressure of the rise of China and its relationship with Russia on the liberal democratic world order will change everything on a geopolitical scale. We are going through two historical changes: Industry 4.0 and the rise of major-nation states with heated competition between two major world powers for the first time since the cold war. China as a leading investor in AI has a national AI strategy that aims to be the undisputed world leader by 2030 which shows the nature of this arms race. The alignment of state and company goals in China will lead to continued global confrontation of multinational companies with emerging champions from an authoritarian system.

About Daniel Riedel:
Daniel Riedel, the CEO of New Context, is an innovator in data security for highly regulated industries. He is a trusted authority in data security for the industrial internet, speaking before the US Senate Committee on Energy & Natural Resources, OASIS‘s Borderless Cyber and Johns Hopkins IACD, and has been published in the Washington Post, Federal Times, Wired and Dark Reading. Riedel has over 20 years of expertise building secure and scalable technologies, products and companies.

About Erin Kenneally:
Erin Kenneally is Program Manager in the Cyber Security Division of the U.S. Dept of Homeland Security, Science & Technology Directorate. Her portfolio comprises cybersecurity research infrastructure, privacy, security economics, and technology ethics. She manages the IMPACT, CYRIE, and Data Privacy programs. Erin is Founder and CEO of Elchemy, Inc., and served as Technology-Law Specialist at the International Computer Science Institute, Center for Internet Data Analysis and Center for Evidence-based Security Research at the University of California, San Diego. Erin is a licensed Attorney specializing in information technology law, including privacy technology, data protection, AI ethics and legal risk, trusted information sharing, and technology policy.

About Herb Kelsey:
Herb Kelsey’s time as Chief Architect for NSA/CSS LSI and at IBM as Federal CTO for cybersecurity heavily influenced his 25-year career. At NSA, he learned to engineer for global scale and secure systems against ruthless villains. IBM taught him product management and enterprise integration. He’s deployed these skills for corporations, our country, and our allies. Most notably, as the head of computation for U.S. National Counter-Terrorism Center (NCTC), the highest volume, most secure, yet heavily attacked analytic fusion center in the world. His passion is making the global, networked, world safe for transactions, private information, intellectual property and children.

About Jonathan Ward:
Dr. Jonathan Ward is the Founder of Atlas Organization, a DC and NY based consultancy focused on the rise of India and China, and US-China global competition. He is the author of China’s Vision of Victory, about Chinese global strategy and what America must do to respond. From travels in Tibet and across the South China Sea, to accessing restricted Communist Party archives, to consulting for the U.S. Department of Defense and Fortune 500 companies, Dr. Ward has brought the experience of a traveler and scholar, and the insight of a strategy consultant to one challenge: what does China want, how will it try to get it, and what should America do?

About Jason Hoffman:
Jason Hoffman is the President and CEO of MobiledgeX, a company focusing on edge computing and founded by Deutsche Telekom. Previously he was a CTO at Ericsson AB and was P&L responsible for their cloud and datacenter infrastructure business. While at Ericsson his group created the world’s first hyperscale, disaggregated system and led the market in the modernization of telecom infrastructure. Prior to Ericsson, he was a founder and the CTO at Joyent (now owned by Samsung), a pioneering high-performance cloud IaaS and software provider, where he ran product, engineering, operations, and commercial management for a decade.

Founder Stories – unitQ

Turning User Feedback Data into Product Success

In our hyperconnected world, no sector of the economy is untouched by software technology. Over the past two decades the very nature of all aspects of our daily lives has shifted as the digital and physical worlds converge into connected services.

It comes as no surprise that the financial impact of software quality issues (or “bugs”) has skyrocketed and is now estimated to cost the US economy over  $1 trillion each year (up from ~$60B/year in 2002; details here).

unitQ is an AI-enabled Quality Monitoring Platform that helps companies quickly find and  understand bugs and other quality issues in their software systems. unitQ’s proprietary AI technology aggregates, monitors, and analyzes user feedback from the Internet and other public channels (and over time internal data sources and systems) to identify quality issues in real-time. The company has already identified over a half million quality issues across a portfolio of multiple major software players and are on a path to this massive opportunity with their novel and proprietary platform.

unitQ has been a BootstrapLabs portfolio company since 2017. 

Christian Wiklund is co-founder and CEO at unitQ. Upon leaving VMware, Christian co-founded Skout, an Andreessen Horowitz-backed mobile network startup that earned $30 million in annual revenue, reaching profitability within six years. After leading Skout’s 2016 acquisition by MeetMe, Inc. — a market leader in social discovery — Christian co-founded unitQ. A native Swede, Christian is an avid surfer, a prolific tomato grower, and a proud father of three.

Niklas Lindstrom is co-founder and Chief Technology Officer at unitQ. As co-founder and CTO of Skout, Niklas led the company’s technology strategy, and product vision and design. Prior to Skout, he worked as a software engineer for embedded devices and hardware products. Outside of the office, Niklas can be found skiing the slopes of Tahoe or looking for his next travel adventure.

Flashback: BootstrapLabs Applied AI Conference – Life In The Fast Lane: What’s Different About Transportation AI?

The BootstrapLabs Applied Artificial Intelligence Conference 2019 #AAI19 brought together the brightest and most experienced experts in the field of AI for an immersive day of learning, discussion, and connection.

On our BootstrapWorks we have released the videos from this past conference to relive the moments and spread the knowledge around the diverse topics covered by our experts on stage. 

BootstrapLabs has built a community of more than 40,000 people from over 60 countries who care about applying Artificial Intelligence to solve the hardest problems of our society.

Get access to practical wisdom on Applied AI methodologies and take advantage of AI’s powerful potential, sign up here to receive the videos directly into your inbox. 

AI is a critical tool for using observed data to make and predict decisions. While most industries work with curated data, transportation is a different situation: self-driving cars rely on volumes of real-time information. AEye chief scientist Dr. Allan Steinhardt discusses the role of AI in abstracting and extracting the right information from a car’s environment, including how to deal with the influx of data in vehicle autonomy and ADAS. Additionally, he explores the role of transportation AI in smart highways and how smart cities with next-generation wireless (5G) will impact transportation AI trends.

Speaker: Dr. Allan Steinhardt, Chief Scientist, AEye

Some of the key takeaways from the session are:

  • If you look at the individual components of a system you learn nothing, it is important to understand the overlaying complex adaptive systems.
  • The mathematics of understanding complex adaptive systems is similar to mathematics of quantum theory.
  • If we think about AI for transportation in cities, we have to think like complex adaptive systems with all the different layers of meaning that intersect in very complex ways: Merging the different tribes of car makers, transportation engineers and Perception/AI engineers and their respective areas of focus is important to understand the different layers around transportation AI.
  • Signals from autonomous vehicle sensors are plotted in a point cloud, but the noise in the data can be used to identify road surface features, background light that is interfering with the laser etc.
  • MIT students were able to utilize RF exhaust noise from various wireless signals as a radar beacon to track humans through walls.
  • Massive amounts of RF bandwidth is being used for communication in transportation AI: One of six radars on a car might use 2 Gigahertz of bandwidth meaning that one car needs more bandwidth than dozens of cell-towers which is clearly not sustainable.
  • Complex adaptive systems do brokering between layers and today there are many start-ups that provide various technologies for brokering of communication networks.
  • Congestion represents a lot of wasted capital assets.
  • The current data mindset is the more data, the better. AEye’s mindset however is described as the latest time of value: Navigating space-time obstacles safely because it is essential to make a decision immediately since there will not be a better decision later in any traffic situation. Therefore it is essential to increase the quality of the data capture process which can be modeled to focus only on key objects like the human brain.

About Allan Steinhardt:
Dr. Allan Steinhardt is among the world’s most widely esteemed defense scientists. An IEEE fellow, he is a sought-after expert on radar, missile defense, GMTI and space surveillance. He was Chief Scientist for DARPA, co-author of a book on adaptive radar, and assistant professor in Electrical Engineering and Applied Mathematics at Cornell University, where he researched sensor arrays and optimal detection capabilities. Allan also served as chief scientist at Booz Allen at MIT Lincoln Laboratory, and director of signal processing for the defense industry with BAE/Alphatech. He holds a bachelor’s in Mathematics, and graduate degrees in Electrical and Computer Engineering from the University of Colorado, Boulder.

Founder Stories – Sibly

Someone to Talk to

The technology sector still is the engine of productivity and economic growth, and this pandemic is actually accelerating the digitization of many sectors.

Sibly – a mobile platform that provides companies the ability to give employees and their families on-demand support for a wide range of emotional and behavioral health challenges – is a great example of a start-up leader stepping up and making a difference in these challenging times. 

At the beginning of the pandemic, Sibly launched a US initiative that provides organizations, including employees and their family members, with complimentary three-month wellness coaching, which provides:

  • Someone to talk to, anytime, anywhere, anonymously, about anything. Sibly’s chat-based application has real people trained in empathic listening available to each user 24/7, within minutes, to address a range of concerns and challenges one may be facing.
  • Real-time navigation to the national COVID-19 resources, and individualized access to resources that meet a user’s specific needs.

“The effects of the current pandemic on communities have wider ramifications than just physical illness,” says Moe AlKadi, CEO and co-founder of Sibly. “Social distancing, while imperative at a time such as this, can have dire effects on our social, professional, and emotional lives. Our issues don’t occur in a vacuum, but are in fact complex and interconnected. What helps is simple: a friend in your pocket that understands the whole you and is able to give you the right help at the right time. We call that friend Sibly.”

Mohammed AlKadi has won many entrepreneurial Awards including 1st place at the Arabnet Startup Competition and the Henkel Innovation Challenge. He previously built Feelit, a social network that went viral in the Middle East with over 200K users. 

Paula Wilbourne is co-founder and CSO at Sibly. She has over 18 years experience building mental health treatment services and was the National Program Coordinator for the Veterans Affairs Medical Center. Paula earned a Post Doctoral Fellowship Health Science Researcher and Development from Stanford University, and a Masters and Ph.D. in Psychology, Statistics, Addiction, Program Evaluation at the University of New Mexico.

Omar AlEisa is co-founder & Head of Design at Sibly. He is passionate about mental health, wellness, and designing high-quality, user-centered digital products. As a seasoned founder and product designer, Omar built expertise in consumer products & user experience by designing and building scalable applications that have been used by hundreds of thousands of users. He received his Software Engineering degree with honors from King Fahd University for Petroleum and Minerals. When Omar is not working, he enjoys running, exploring new places, or doing both at the same time.

Flashback: BootstrapLabs Applied AI Conference – AI and Financial Automation

The BootstrapLabs Applied Artificial Intelligence Conference 2019 #AAI19 brought together the brightest and most experienced experts in the field of AI for an immersive day of learning, discussion, and connection.

On our BootstrapWorks portal we have released the videos from this past conference to relive the moments and spread the knowledge around the diverse topics covered by our experts on stage. 

BootstrapLabs has built a community of more than 40,000 people from over 60 countries who care about applying Artificial Intelligence to solve the hardest problems of our society.

Get access to practical wisdom on Applied AI methodologies and take advantage of AI’s powerful potential, sign up here to receive the videos directly into your inbox. 

Bookkeeping, accounting, and auditing are undergoing rapid changes, driven in large part by the ability to digitally automate tasks previously performed manually by humans. Machine Learning and AI are driving a shift across the entire industry with the technology already being adopted by firms and individuals at a rapid pace and low price point, enabling a shift from Cloud Accounting to Augmented Accounting. Cathrine AndersenCo-Founder of Roger.ai, discusses how in addition to making humans up to 20x faster in the bookkeeping and reconciliation process, machines can find patterns and put large data sets into perspective in a way no auditor would ever be able.

Speaker: Cathrine Andersen, Co-founder & CEO, Roger.ai

Some of the key takeaways from the session are:

  • Accountant and auditor jobs were predicted to be at high risk of being automated with the help of AI and since 2004, the number of FTEs in finance departments of large companies declined by 40%.
  • 90% of accountants and bookkeepers agree that the future is rapidly approaching, but only 10% think of themselves as innovative and 8% think the industry is “future ready”.
  • Areas of automation:
    • Day-to-day financial operations: Accounts receivable, Accounts Payable, Cash-flow management
    • Bookkeeping / Reconciliation
    • Compliance
    • Fraud detection / Prevention
    • Auditing
  • Product examples:
    • Roger.ai automates all the steps along the way by scanning documents and following determined flows within the platform. This gives the accountant the responsibility of supervision with integrated audit trails and fraud detection flags.
    • Pleo facilitates expense reporting.
    • Other companies include YayPay, Chata.ai and Mindbridge.
  • The accounting firms of the future will either include a few winners who create the next generation of AI/ML-driven accounting and auditing software OR existing companies will quickly adapt to automation tools in order to compete with major players and keep their clients.
  • In order to adapt to that change, re-skilling is essential to enable accountants and bookkeepers to focus on tasks like supervising the technology.

About Cathrine Andersen:
Cathrine Andersen is the co-founder and CEO of Roger.ai, an accounting automation product used by over 1,000 businesses and accounting firms worldwide. Starting with accounts payable and bill pay, Roger is moving the accounting industry from the cloud toward augmented accounting – one big step at the time. Originally from Denmark, Cathrine moved to the Bay Area in 2014 when her first company Assemblage was acquired by Cisco. She holds 2 US patents and was named Founder of the Year in her home country in 2018.