5:47Vipul Vyas: Now. when you do both, when you can improve both efficiency and efficacy.
5:53Vipul Vyas: That’s when things sort of get
5:55Vipul Vyas: warped or you enter it sort of a a totally different world.
5:59Vipul Vyas: And you can do many more magical things, the the constraints that you were living within the past of completely disappeared. And so things can have fundamental shifts and paradigms. Can really, you know, can move. So
6:15Vipul Vyas: that’s where I think we’re heading very soon is where we’re going beyond just efficiency gains and also impacting efficacy. And the combination of
6:24Vipul Vyas: those 2, which is the ultimate, better, faster, cheaper. is where there’s going to be even more profound impact. So I can give you some examples that very quickly. you know, in the legal space.
6:38Vipul Vyas: you were, you’re now able to efficiently review
6:44Vipul Vyas: dozens and dozens, if not thousands, of contracts, and look for compliance to a new indemnification or limitation of liability framework like how many of these are in line with our new standard? How many of these are not, and before you need, like a paralegal, or maybe in a lawyer, to wade through all of these, and that is arduous. Mistakes can happen. And now you can just do that much more efficiently. but you can also get some interesting efficacy gains where
7:13Vipul Vyas: that are related efficiency where now we have inbound complaints for consumer
7:20Vipul Vyas: inbound messages and communications that may flag for litigation, litigation risk.
7:26and you just couldn’t ever get to them all.
7:29Vipul Vyas: And so you couldn’t flag which things were potentially sources of
7:33Vipul Vyas: legal exposure and which ones were not. Now you can actually sift through those and say, okay. The person who slipped on a great better grocery section probably is more of a concern than someone who’s describing it about our prices.
7:47Vipul Vyas: and so you can wade through that and identify things that before.
7:52Vipul Vyas: just because of lack of manpower, lack of just resources, you weren’t able to get to one on the efficiency set, and then also being able to pattern, recognize and discern which things represent a risk
8:07Vipul Vyas: in the scalable way. So that that’s not in the marketing world, obviously. But that gives you a sense of of kind of what what’s going on in marketing. I think it’s a little bit more
8:19Vipul Vyas: direct in that did the language and the words and the message you created drive more of the activity. You wanted more of the behavior you wanted
8:31Vipul Vyas: than before. So are you not just creating language faster, generating, content, faster. But are you generating? Better content that’s performing?
8:43Vipul Vyas: in the way that you want it to perform.
9:48Vipul Vyas: there will be dislocation. of different degrees.
9:53Vipul Vyas: and it and that transition change that any new technology and the disruption it creates is typically
10:02Vipul Vyas: There’s some discomfort associated with that.
10:06Vipul Vyas: Now you can do that smoothly. relatively, smoothly, over a long arc of time that can be absorbed by society and just human beings and their ability to adapt
10:15Vipul Vyas: And so if you look at
10:18Vipul Vyas: the Us labor force in the 18 nineties, early, 19 hundreds 80
10:25Vipul Vyas: percent of folks were employed in the agrarian space. You know, we farm farmer farm related occupations. And today it’s 2, I mean, very few people know a farmer.
10:36Vipul Vyas: so 2 of the population produces a food for the 98 of the people who aren’t in that space. when before, it was almost not quite the inverse but close.
10:47Vipul Vyas: you know. Pretty much everyone was involved in food production. And so that happened, if you look at graphs of how that transition occurred. It was slowly and linearly.
10:57Vipul Vyas: fairly, you know, steadily over the course of a century And so we absorb that relatively well.
11:06Vipul Vyas: The dislocation of increased urbanization and the implications of people getting off the farms. was managed in a way that didn’t create this much social strife. There is some, of course you know the the the sort of tale of the family farm and the, you know aggregation of agricultural and fewer hands. There’s no issues that people are concerned about there, but in general, from a social dislocation perspective, it was relatively
11:33Vipul Vyas: well absorbed. If you look at manufacturing in contrast that really started decline in the late sixties and seventies.
11:42Vipul Vyas: And there’s some specific reasons as to why people theorize that happened. the way it did. you saw a precipitous decline from, I think, in 27 ish, maybe a little over 30 of the labor force employed in manufacturing, and now close to at least in the 7% range today.
12:01Vipul Vyas: it may even have drift a little bit lower.
12:04Vipul Vyas: More recently. So that happened in the course of less than 50 years, and really accelerated in couple of phases the eighties, and then the 2 thousands. And it happened fast.
12:17Vipul Vyas: and that’s the you know what you have as a result of the rust belt. You know the cities that were impacted like Detroit.
12:24Vipul Vyas: and that didn’t happen smoothly. And that doesn’t mean that that can’t be mitigated.
12:31Vipul Vyas: if you look at Germany and Japan.
12:35Vipul Vyas: they actually really worked hard to make sure their manufacturing bases were at least somewhat secure and and tempered against some of the dislocation that was occurring, the Us. Being the manufacturing powerhouse coming out of World War Ii did not feel such
12:52Vipul Vyas: protection or protection, or it’s such mindfulness of that was necessary. We kind of took it. As for granted that we were that manufacturing powerhouse, and so
13:03Vipul Vyas: That decline was never buffered. So I say that to
13:08Vipul Vyas: point to the fact that AI probably will create this location. But it can be managed just like in the past. We’ve.
13:16Vipul Vyas: you know, there are examples of where forces that can lead to a severe dislocation can be mitigated. You just have to understand the threat, understand?
13:28Vipul Vyas: the so social issues it can create and then
13:32Vipul Vyas: make sure to invest to mitigate them.
14:10Vipul Vyas: I think many of them want to understand, you know.
14:13Vipul Vyas: to the spirit of your last question, what’s the job market going to be for them? What’s it gonna look like? How’s it going to be different than when they first contemplated going to school? Because things change pretty rapidly in the public, you know Psyche and Zeitgeist
14:28Vipul Vyas: as of September 2022, when Chat Gpt emerged on the scene.
14:33Vipul Vyas: So a lot of them are, are thinking about. What are the implications for them personally?
14:37Vipul Vyas: I think this is one of those technologies that
14:41Vipul Vyas: will.
14:42Vipul Vyas: Our Ceos alluded to have this sort of hype cycle in the short term.
14:47Vipul Vyas: and then have more profound effects over the long term. you know. Travel agents that get put out of business overnight in the nineties. With the emergence of the Internet. there was sort of a sputtering along for a while until
14:59Vipul Vyas: it just didn’t make sense anymore. right? And I think a lot of
15:04Vipul Vyas: industries that are going to be disrupted by generative AI. It’s not going to happen all of a sudden. It’ll be slow. And then all of a sudden.
15:11Vipul Vyas: so I I think the real discussion is, how do people position themselves? Well.
15:20Vipul Vyas: to take advantage of the technology versus potentially get run over by it.
15:24Vipul Vyas: and I think that just as in manufacturing, which where automation actually had a huge impact on the rate of employment. If you could run the machines, you had a job
15:37Vipul Vyas: if you were the machine. less likely so and so there’s gonna be the need for human augmentation for at least some period of time into the foreseeable future. And so people who can
15:50Vipul Vyas: get the machine to do what we need to do.
15:54Vipul Vyas: And actually, it’s more going to be about
15:57Vipul Vyas: framing the problem. So people are going to be moving from production
16:02Vipul Vyas: to direction in terms of they’re going to be directors versus actors, if you will.
16:08Vipul Vyas: movie making analogy perspective. So instead of being the orchestrator, the actual final a leg of work, they’re going to be saying, this is the problem I want to solve.
16:19Vipul Vyas: This is how we want to solve it and then evaluating the solution. And so I think that is going to be a big change in people’s skills, that it’s going to be about defining problems.
16:29Vipul Vyas: well, in an articulate manner
16:33Vipul Vyas: versus the brute force solution that maybe where they’ve had focused in the past.
18:08Vipul Vyas: It’s an interesting. It’s a tough question, because there’s
18:14Vipul Vyas: in this marketplace a few things are happening.
18:18Vipul Vyas: One, the core technology providers, such as Open AI, which is got a significant amount of funding for Microsoft, so it almost sort of commingled entities.
18:26Vipul Vyas: obviously came on the scene with Chat Gpt. several months ago, almost
18:33Vipul Vyas: a little bit over a half a year ago, I suppose? that’s now freely available to everyone.
18:41Vipul Vyas: And the core technology is also available. So you have as a function of that.
18:47Vipul Vyas: the proliferation of dozens.
18:51Vipul Vyas: probably more like hundreds of small companies that are all building point solutions on top of the core technology. Because now the barrier to entry.
19:03Vipul Vyas: to be innovative, to create something.
19:06Vipul Vyas: is much lowered because someone’s taking the hit on that big development effort, the big training model development transform all development machine learning efforts, all that big lyft. Someone else took
19:20Vipul Vyas: And now other people can leverage it to get in the market very quickly, and so they are. And so it’s almost like a
19:27Vipul Vyas: Brush fire came through. And now there’s a meadow full of flowers, just a lot of them to choose from.
19:33Vipul Vyas: But I think in terms of executives picking
19:37Vipul Vyas: the solutions that make sense.
19:40Vipul Vyas: The generalist
19:42Vipul Vyas: technologies are not going to solve specific business problems because they’re focused on being good at being general.
19:50Vipul Vyas: at offering a generic capability.
19:53Vipul Vyas: And they want ecosystems to point solutions because it helps them cheaply. Figure out what’s relevant in the market. Other people can go off and explore what use cases are
20:03Vipul Vyas: use or pertinent and
20:06Vipul Vyas: do all that heavy lifting for them.
20:09Vipul Vyas: and they can sit back. You know it’s the the whole gold rush analogy of
20:14Vipul Vyas: the people who supplied the pick. Axes were the ones that made the money, not the miners, necessarily themselves. And so I think the general technologies will still focus on the general technology, general tech, because there’s so much still to do there. There’s so much green field still the
20:28Vipul Vyas: to conquer and so point solutions will be the things that emerge that people have to evaluate because they’re focused on specific problems by their nature point solutions are attempting to solve specific issues or problems or challenges.
20:42Vipul Vyas: And so then it’s a matter of what point solutions are the right ones to pick. And so ones that actually are intimately familiar with the business problem that you’re trying to solve to some level of expertise of the processor space and that are focused on moving specific kpis because the end of the day you’re not buying generative. AI, you’re buying a business outcome.
21:03Vipul Vyas: It’s ideally what you’re buying. You’re buying a result.
21:06Vipul Vyas: And so looking back at other examples or other industries or other similar technologies where there’s a core technology provider set of providers have come on the scene that enabled a lot of other people to proliferate.
21:20Vipul Vyas: you see a few themes. One is that these point solutions to that 4 key characteristics.
21:24Vipul Vyas: One is that they have optimizer uiux for the specific
21:31Vipul Vyas: problem they’re trying to solve.
21:33Vipul Vyas: and that’s an artful effort, though not insurmountable. So just have I geared everything I’m trying to do
21:43Vipul Vyas: to make it as easy as possible for the end user to accomplish your tasks. And so then you at least get user, buy in. And the second thing is workflow integration.
21:54Vipul Vyas: It’s similar to uiux. Does this seamlessly flow into existing or adjacent processes, such that it’s not hyper disruptive to existing.
22:05Vipul Vyas: Work flows such that it’s hard to absorb That may change slowly over time. But initially, you want to fit into in a construct, people can get their head around so that the the technology can actually be successfully absorbed. So again, one is ui ux. 2 is a workflow integration. 3 is reporting. And that’s really the way that the vendor justifies their invoice. But it’s also a way that you understand. That is this solution actually moving
22:33Vipul Vyas: the metric, that it says it was going to move, that it was going to move.
22:37Vipul Vyas: And so reporting and robustness of reporting and the insights you can give are gonna be big, and those are solutions specific, not general or generic. You know that that typically won’t come from a generic provider. And on the fourth thing is that they’ve extended the technology. So in this case they’ve extended language models.
22:53There’s a litany of previous examples that are illustrative of this
22:58Vipul Vyas: from speech to recognition technology that I’m familiar with. Where, if you want to do a driving directions. Application. The uiux had to be optimized, that for maps, the workflow integration, and how to integrate with like GPS ships and whatnot which the generic speech. Recognition applications would not bother with like why would they? They had to actually report on terms of accuracy and get that feedback loop going, and then a fourth. They had to do novel things such as disambiguate
23:25Vipul Vyas: words like Marquette Street and Market Street M. A. R. Q. E. T. E. Versus M. A. R. Ket, and they have to use traffic data to figure out probabilistically if they both sound similar when someone says them.
23:39Vipul Vyas: which one is it more likely going to be to to disambiguate with me, too? So that to extend the core technology to address the specific problem, such as an example, you know, in the case of
23:50Vipul Vyas: Prisado, we’ve had to actually take language and actually inject emotion into it. and then couple that with, you know a clear description of a call to action, to then couple of motion with motivation to actually drive
24:05Vipul Vyas: action. And the behaviors we want. So Prisado is another just case, study of solution in the space with generic capabilities, generic technologies where the point solution has to extend
24:18Vipul Vyas: what the core solution the core technology does to solve a business problem in this case, driving conversions
24:24Vipul Vyas: and the the the behaviors we want from consumers. So
24:30Vipul Vyas: that’s the theme. You can see that with voice by metrics
24:34Vipul Vyas: as well in in this for another form of gender value people don’t have to think about is a path planning with
24:41Vipul Vyas: actual autonomous vehicles. The Path plan is actually a form of generative AI and you have different applications in different scenarios from the 18 Wheeler versus an autonomous
24:53Vipul Vyas: bus system that they’re now rolling out in different cities. So yeah, I I think the the executives are going to think about making bets on technologies. The good thing is that you know.
25:04Vipul Vyas: these bets aren’t sealed in cement
25:08Vipul Vyas: but you look for some hallmark characteristics
25:12Vipul Vyas: of winners. We’re likely winners
25:16Vipul Vyas: based on some of the attributes I just mentioned. And that’s based on my, my.
25:22Vipul Vyas: you know, sort of set of characteristics I I went through is just based on historically or the last 20 years. Seeing similar trends play out where a general technology came on the scene. And then a bunch of point solutions emerged.
25:35Vipul Vyas: There’s a whole cacophony of activity, and then a few
25:39Vipul Vyas: few remain standing at the end.
25:41Vipul Vyas: and it was the ones that have those 4 characteristics I mentioned more often than not.
27:31Vipul Vyas: You’re probably right.
27:33Vipul Vyas: all right. I think that The other thing that will
27:37Vipul Vyas: follow.
27:39Vipul Vyas: I suspect, is going to be along the lines of
27:43Vipul Vyas: you’re gonna have generative AI everywhere, especially from a marketing perspective. You’re gonna have generative AI and all the point solutions
27:50Vipul Vyas: or at the all the different points. channels, specifically. And so you’ll have an SMS generative AI solution. You’ll have one for email, one for web
28:01Vipul Vyas: and so you can have lots of different potential generative AI solutions to pick from provided by your existing vendors for core messaging technologies.
28:12Vipul Vyas: And so what may happen is that each one of these is going to have a different voice based on the people that are in charge for that particular channel within the enterprise
28:24Vipul Vyas: based on the vagaries of that particular generative AI solution. And so you’re going to be communicating different messages
28:33Vipul Vyas: to different, to to people at different times.
28:37Vipul Vyas: because you have this sort of
28:41Vipul Vyas: menagerie of different generative AI solutions. This happened with Crm many, many years ago, where once people knew they could use the SMS tools they could use email, they could use different ways to communicate to customers. Everyone kind of went nuts and started sending customers, bunch of SMS messages, a bunch of emails, a bunch of
29:01Vipul Vyas: I know, even in some cases
29:05Vipul Vyas: printed material. and there was no one sort of coordinating what messaging was going to the customer.
29:13Vipul Vyas: and what made sense to prioritize. And what
29:16Vipul Vyas: ways we could. You know what what mechanism we could use to keep someone from overwhelmed so that they we diluted our own messaging. That’s when Crm really came on the scene, right to basically be a coordination function. To say, I want to be air traffic control.
29:30Vipul Vyas: to coordinate what is sent, to whom, when. and how often. and that was basically an attempt to rein in the madness.
29:41Vipul Vyas: I literally, at 1 point, many, many years ago got a SMS, a paper letter and an email from the same company on the same day, wanting to do 3 different things. And so this is again exactly what Crm was trying to solve. And I think nowadays what we’ll want to head off at the past is
29:59Vipul Vyas: different language
30:01Vipul Vyas: being used for a person in different places
30:07Vipul Vyas: and a lack of consistency and a dilution of brand identity. and also,
30:17Vipul Vyas: you know, some people call it brand voice, but also just the ability to
30:24Vipul Vyas: really distinguish the company and also orient the customer. As to here’s what they can expect
30:30in terms of how we communicate.
30:32Vipul Vyas: because there is a single point
30:36Vipul Vyas: of coordination. And and Prisado can play that role of a essentially a language hub
30:41Vipul Vyas: or air traffic control. To say, you know, here’s the kind of language that resonates with this person at this time in this context. And so we should use across channels to essentially at the end of the day. You’re trying to always drive a couple of things. you’re trying to influence behavior
30:56Vipul Vyas: and drive loyalty. And so you’re not gonna be able to do that with
31:02disparate messages that aren’t very well
31:05Vipul Vyas: coordinated across platforms.
31:08Vipul Vyas: And that’s one thematic issue that I think people in marketing specifically should worry about is that now we have 15 generative AI solutions, and they all speak to our customers in different ways.
31:21Vipul Vyas: And then also our customer here is 15 different ways of us talking to them.
31:38Vipul Vyas: any main takeaways you want to share from that with the listeners.
31:50Vipul Vyas: They didn’t head off the social implications of social media in time they didn’t understand or grasp the unintended consequences, or the natural
32:03Vipul Vyas: progression of what would follow the implicate natural implications of something like social media because they didn’t bother to step back and understand them.
32:11Vipul Vyas: and so they don’t want to make the same mistake twice.
32:16Vipul Vyas: As a result, I think AI is going to get a lot more scrutiny from a political perspective because of its clear. I mean, you don’t have to imagine you can
32:28Vipul Vyas: feel it, that you can see and sense it, that it’s clear potential impact on society.
32:35Vipul Vyas: And so the big takeaway to summarize that is that
32:39Vipul Vyas: the political world will be active and much more engaged with generative AI.
32:45Vipul Vyas: Then it has been with technologies in the recent past. I think Italy potentially banned a lot of.
32:52Vipul Vyas: you know, chat gpt usage already as a country
32:56Vipul Vyas: enterprises have also done the same thing.
33:01Vipul Vyas: So
33:03Vipul Vyas: I know that’s not governmental, but I think that’s going to be the theme is that you’re gonna have a very active
33:09Vipul Vyas: political response to anything that’s happening in the space
33:41Vipul Vyas: I know we spoke a little bit about potential, you know, social doom and gloom here and there, but I think that the other part the other side of the coin. Is that
33:53Vipul Vyas: all the creativity that is trapped in many, many people’s heads
33:58Vipul Vyas: for want of a way to express it.
34:00Vipul Vyas: because they can’t get it out, because, you know, they can’t draw. They can’t write, maybe, as well as they think they should be able to write all the things, all the creativity
34:10Vipul Vyas: that is locked away in humanity
34:13Vipul Vyas: now has a mechanism by which to express itself.
34:18Vipul Vyas: you know, if you were wanted to create an application. you need to learn how to code. There was a inherent barrier for you.
34:28Vipul Vyas: expressing and bringing to reality what you wanted to bring to reality. Now.
34:35Vipul Vyas: I mean code is an abstraction. Right? Basically, ultimately, code is just computer programming code. is just an an abstraction layer above
34:45Vipul Vyas: turning on and off a bunch of transistors on a on a chip.
34:49Vipul Vyas: Ultimately.
34:50Vipul Vyas: it’s just different layers of getting that now
34:54Vipul Vyas: simple spoken words, normal language
34:59Vipul Vyas: can effectuate that
35:01Vipul Vyas: you can actually describe. I want a program that does Xyz
35:05Vipul Vyas: as an example. And generally I can create such a thing
35:10Vipul Vyas: right? And so I look at that to say, there’s a lot of trapped
35:15Vipul Vyas: creativity that for simple sources of friction that have historically exist couldn’t get out. Now, it can. Same thing on the marketing front. We, wanna
35:26Vipul Vyas: you know, as you mentioned, there’s a plenty of things that never happened because of riders block so many things that didn’t happen. Well.
35:33Vipul Vyas: because I just didn’t know certain things that now are knowable.
35:38Vipul Vyas: And I think, as I alluded to before, when you have that ultimate nexus of efficiency and efficacy, that wonderful
35:48Vipul Vyas: confluence of the 2 you remove constraints. Now.
35:52Vipul Vyas: things you can’t even imagine were possible before such as speaking individually to Alex in the way Alex wants to be spoken to in a way that’s compelling to him
36:04Vipul Vyas: is possible because I can create copy on the fly images on the fly, video, on the fly. all contextually
36:13Vipul Vyas: modified
36:15Vipul Vyas: that before you know, just a concrete example, if I want to shoot a video, I’ve got a
36:21Vipul Vyas: get studio time. You gotta get actors. Gotta get. You know, script written. Get all that stuff done. Get a basically shoot this thing do a lot of post production editing. It’s a whole thing. So you better make sure that video generically is resonating with as many people as possible.
36:38Now.
36:39Vipul Vyas: the constraints that force that are gone. So actually, I can create
36:44Vipul Vyas: interactive and engaging material and content for a person. In this case you know yourself, Alex. dynamically, on the fly. for essentially close to nothing
36:56Vipul Vyas: in terms of cost.
36:58Vipul Vyas: and the that settled to it better, faster, cheaper, and that
37:03Vipul Vyas: fundamentally different way of engaging people. you know, much more personalized way that’s going to resonate with them is just going to be different. I mean, it’s gonna open up an entire new
37:15Vipul Vyas: way of people interacting with enterprises, people interacting in general.
37:20Vipul Vyas: So I think those are the kind of interesting, positive things I think, that are on the near term horizon.
38:30Vipul Vyas: thanks, Alex. I’ll I’ll not let you stop me there. I’ll say 2 more quick things in terms of one of the things that buffered manufacturing decline and job creation was actually the rise of the It sector.
38:41Vipul Vyas: which actually created jobs that people that no longer going to manufacturing can now assume to some degree. So that was a a safety net of some degree. So we’ll need something like that. And the second is, you know, another big technology trend
38:56Vipul Vyas: that didn’t quite take office people into it was blockchain, as example. And I think actually, it will have new relevance, because you can imagine scenarios where
39:06Vipul Vyas: a company’s enterprise system is a negotiating with another company’s enterprise system or 2
39:12Vipul Vyas: AI bots are actually interacting with with each other, and the resolution of the interaction, because it’s now no one entities
39:22Vipul Vyas: ownership of that. The final adjudication can leverage things like blockchain to track
39:28Vipul Vyas: the outcome of such interactions. So that may actually, a technology, that sort of came and lost a little bit of luster recently. we actually find new life.
39:39Vipul Vyas: funny enough in this generally, I boom, but I’ll leave it at that. thank you for having me. I I definitely appreciate it.
