Don White, CEO and Co-Founder of Satisfi Labs, joined Bloomberg Radio with Lisa Abramowicz and Paul Sweeney. In the interview, they talk about the future of conversational search, what White has learned about humans since starting the company, and Satisfi Labs' exciting partnerships.
Highlights to the interview are written below or you can listen to the full interview here:
On what Satisfi Labs does:
White: "Satisfi Labs is an AI knowledge management platform. That means we take information data and convert it into a way that machines can understand. A big buzzword around AI is that machines can learn. Well, for them to learn they need to be taught in a specific format and a specific verbiage."
On which companies have invested:
White: "Our last round was led by Major League Baseball. We've also worked with the Broadway community, a company called Broadw.ai, which is a consortium of producers and theater owners. And then Red Light management, which is the largest independent music agency, has also bought in for the entertainment and music festival business."
On what the future looks like for conversational search:
White: "The future format is messaging. Messaging will be both chat and voice. It's really about collecting all the exact answers to questions so that you're not going through some tree, but getting exactly what you need based on your query. So all the technology companies right now are focused on getting their information in a format, or a way, that now when you do go on to chat, you can get exactly what you need right away."
On how similar every fan’s questions are:
White: "We have reviewed 9 million questions in just stadiums and about 80% of them are very similar but what you'll find is I have 65 different ways to ask where the bathroom is. And it's really interesting to see how people approach that very common question with their own little skew."
On Satisfi Labs’ partnership with Apple:
White: "We are a developer, we support the platform. Apple Business Chat has enabled our technology to be put through in LAFC and some of the other stadiums. So if you go to the game, you'll be able to leverage Apple Business Chat to get a beer at express locations. You can order your beer, pay for it through Apple Pay on your Apple iPhone, or iPad and then go walk up and get it right away and go back to your seat."
On which industries have most effectively used AI already:
White: "AI is heavy in retail. It's now becoming much larger in sports, entertainment, tourism, you'll start to see the transportation companies pick up on it. Pharma is another good opportunity to help the health area. And I think just the whole food and beverage industry, like we're working with some large brands, both on the beverage side, that are interested in how this data could change the way they predict products. What are people looking for, versus what are people getting is a huge area where AI can step in."
On the advantages of AI in retail:
White: "Retail is as simple as navigating a store. Like you walk into a store and if you do talk to a person and get guided to a location or a product, the store brand never knows you wanted that product. So this fulfills a demand curve, which is if you could provide a digital messaging way to get what people want, instead of talking necessarily to a person and looking for the staff, you now know what people are looking for and how you could better stock and provide product."
On what he has learned about humans:
White: "There's a concept in search called the long tail. It means that we all assume that 70% of things are common. But once you try to conquer that last 30%, all of our interests do become quite unique and personalized. So I've learned that we think very broadly about customers. But this personalization move will require AI to really get to what your needs are, and what my needs are and sell to me what I can consume."
On Satisfi Labs’ competition:
White: "There are companies trying to solve the same problem, but we are very dominant in our industry because of our investor group and the people that we've worked with."
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