Venture Europe: Entrepreneurship | Technology | Venture Capital | Eu/Acc
00:07:40 · Calin Fabri
[00:07:40] S1: So if we would have to compare, let's say, the old world versus the new world, my understanding that, let's say, old world in consumer research, it's a report you get once a quarter, it takes, multiple months, and then the new world in which you operate and you're a category leader is more to embed yourself within the infrastructure of decision making of big brands, so then they can get this type of insight and why, you know, in twenty four hours, but it's pretty much to be embedded in their decision making process.
00:08:16 · Casper Henningsen, Calin Fabri
[00:08:16] S0: We can step... Go one step back and say today there's two established methods for extracting understanding from your consumers or customers, or even employees. You can go at a qualitative toolbox, interviews, focus groups, whatnot, and interview people to extract data and information you can translate to actions. That's one method. Another method is quantitative. We all have tried a survey, one to five, one to 10, which one do I like the best, etc. And analytics is very closely connected to that domain as well. The problem the enterprise has is that if you go for a deep contextual kind of like extraction of knowledge that takes a lot of time and is a costly process. On the other hand, surveys and quantitative methods is very fast, but it only gives you a very shallow and surface level view on the world. What's happening? Which of my concepts do they like? Which brands are recognizable and preferred within a category? So that's your two methods and has been so for the last forty years. What has happened at the enterprise level is that the enterprise has accelerated. It went from a very static, predictable environment of how we work and how we take decisions through stage gate and modeling and very predictable linear processes to being completely full paced, chaotic, agile, execution driven modalities. [00:09:57] S1: And
00:09:57 · Calin Fabri, Casper Henningsen
[00:09:57] S1: And [00:09:59] S0: so you now find a difficulty embedding qualitative methods because it's simply too slow to even show up when decisions are taken. And when you start putting in surface level insights into the modality of the enterprise, you ultimately start feeding it with a [00:10:23] S1: lot of [00:10:23] S0: what's, but not any why's. So insights and understanding has a hard time right now, because it's sort of like left in another decade. Market research, a 40 old category is built for an industry and an enterprise that no longer exists. Compare that reality with which what I just said that the average enterprise stays in top Fortune 1,000 for seven years. I think you have such a strong correlation that I found that was a very interesting problem to try to build for. So what we did were we looked at the possibilities of AI to essentially orchestra the entire research workflow, working as a researcher, interviewing real people, real human beings on video, tablets, desktops. And through that interaction, giving real conversation from qualitative, the modality and scale of survey to essentially blend the two and leave the compromise that the enterprise is faced with today. So that is what you are calling AI moderation. It is a new emerging capability for the enterprise to essentially extract human and customer empathy at a very high velocity, and then go redistribute that to decision making across the enterprise.
00:10:23 · Casper Henningsen, Calin Fabri
[00:10:23] S0: what's, but not any why's. So insights and understanding has a hard time right now, because it's sort of like left in another decade. Market research, a 40 old category is built for an industry and an enterprise that no longer exists. Compare that reality with which what I just said that the average enterprise stays in top Fortune 1,000 for seven years. I think you have such a strong correlation that I found that was a very interesting problem to try to build for. So what we did were we looked at the possibilities of AI to essentially orchestra the entire research workflow, working as a researcher, interviewing real people, real human beings on video, tablets, desktops. And through that interaction, giving real conversation from qualitative, the modality and scale of survey to essentially blend the two and leave the compromise that the enterprise is faced with today. So that is what you are calling AI moderation. It is a new emerging capability for the enterprise to essentially extract human and customer empathy at a very high velocity, and then go redistribute that to decision making across the enterprise. [00:12:00] S1: And do you want to give us a use case example, some of the work that you guys did with some of your clients, and maybe you can talk a little bit about the numbers on the speed, cost savings, you know, improve revenue. [00:12:14] S0: Let me start at how I look at AI in this domain. I think first wave is very easy. It's apply AI to be [00:12:27] S1: more
00:12:27 · Calin Fabri, Casper Henningsen
[00:12:27] S1: more [00:12:27] S0: effective. Take out cost, take out time, make it relevant for the agenda enterprise that are being formed. And so, sort of in that motion you start to build a capability that can behave and move differently than you did before. I think that's where the market are in majority today. How can we deliver insights faster across go to market motions such as proposition shaping, demand space shaping, concept development to product innovation to marketing, messaging, marketing campaigns, websites, etcetera. Let's see if we can create a new capability that can match the speed of the enterprise and the need for insights with a modality that actually can deliver into it. I think that's to characterize and put some use cases on like First Wave. I think the successful enterprise in the era of AI needs to take a choice between are we then taking that capability that are shaping efficiency and putting that to margins or delivering that to our CFO and saying, I saved x amount of resources. I'm now able to work differently. So here you are directly on margins, directly on the CFO's table. I call that the 10 percenters. Or leaders need to say, I've shaped a new capability. I have an opportunity to be the 10xer. Reimagining the future innovating harder with a capability that when I apply it, I save more. But I'm taking that in a cost neutral kind of like idea. I'll start innovating like crazy. That's the chance of the enterprise. It will belong to the 10x's and not the 10 percenters.
00:14:19 · Calin Fabri, Casper Henningsen
[00:14:19] S1: Got it. And do you have some some use cases where you kind of, you know, you went into an enterprise and let's say you saw these two patterns, and why you think, you know, one is better than the other? [00:14:32] S0: Imagine a world where if you were curious on customers, you get a graph on what the customers were scoring or whatever you put in they should select. It's a very limited view on the world. You get basically graphs and selected items for the end of... For the customers. Mhmm. Now, you receive not only that which shapes an architect a what, but you get full access to hundreds of hours of video of your consumers coded, structured, applied as there is humans behind the graphs because that is what they've always been but it was never accessible. Why are you thinking like that? What parts of this concept were amazing? You're talking about this demand space. Why is that interesting to you? So we, so it's across the surface of applications, it is an, it is a complete new view and engagement you have with your customers. If you go into the basic psychology and you go into the basic theories, empathy can only be unlocked when you see and feel another person. It cannot transmit through graphs or analytics. It transmits only when I feel and connect to my audience. And now there is a chance for the enterprise across numerous application and go to market, brand, marketing, innovation to get these nuggets of understanding matched at the time of how they build and the pace of how they build. [00:16:09] S1: Right.