Now, while AI, artificial intelligence, can be a game changer for the business world, it isn't a guaranteed success tool.
Now MIT research shows about 95% of internal AI buildouts fail, and many companies do struggle with poor quality biased or fragmented data distributed across different departments and also legacy systems.
Well, joining me to weigh in this morning live from Vegas is Jeff Klaus, chief revenue officer at Boosted AI.
Jeff, great to have you here.
Thank you so much for joining me bright and early.
Oh, it's great to be here.
Thank you for having me.
Well, first and foremost, I do want to ask you about your partnership with 11 Labs.
So this is significant, isn't it, because this is the first voice powered AI for investment professionals.
So give us an understanding of why this is so strategic.
It is a first, and we're super excited to announce it.
The partnership 11 Labs allows our users to communicate verbally with the machines.
If you think about how we interact with each other, we don't always want to type.
Sometimes you just want to have a conversation.
If you think about where the world's going, where the world can go, if you choose to enable it, you can actually have the machine listening to you in your morning call or your morning stand up or your morning meeting, and the agentic nature of the platforms today allow for them to now think on your behalf.
So while I'm sitting in a room directing my analysts or my team for our investment strategy on the day, the machine is listening and proactively.
Offering ideas, thoughts, or even reports that I may find interesting as it relates to our day.
Yeah, and when we're talking about financial services as well as investing, we know this is a highly regulated industry.
So walk us through how you make sure that guardrails and safeguards are actually in place here.
Regulation is something that I personally uh put a lot of thought and effort into.
I'm a, I'm a firm believer that there needs to be guardrails, there needs to be uh guidelines.
But I think the most important thing for every firm and what we're starting to see in a lot of the large institutions around Wall Street and in all technology is that they're aligning committees.
People want to be within bounds.
They want to make sure they're controlling things.
So the more you're thinking about regulation, the more you're thinking about the controls or the boundaries you may want or need around your machines, the more you're going to be in that safe zone.
So from our standpoint, we focus on GDPR and we focus on our SOC 2s and we focus on all the different regulatory.
Means you would run a company, but more so we're also thinking about where can the world go and how humans behave and making sure we're putting boundaries or not.
And of course while we're talking about this, let's talk about infrastructure, the importance of robust infrastructure here, especially when it comes to agentic AI.
Well, the infrastructure is growing, and we say Rome wasn't built overnight or in a day, right?
I think that you're going to see this industry evolve rapidly in the years ahead and the infrastructure is going to continue to build upon itself.
What we've seen even just, I think was it 2022 when we first saw a chat really come into mainstream of retail where it is today versus then, it's a world of difference.
So I think we're going to continue to see a lot of build in the infrastructure side, which will yield results in the production.
And Jeff, finally, before I let you go, we are here at Money 2020.
This is day 3, and tomorrow is the final day.
So give us your take on this year's event.
Oh, it's fascinating.
Every year it seems to be bigger and bigger and post pandemic, it's growing again.
There's a lot of talk, a lot of talk about AI here.
You brought up the, the MIT study and people talk about the failures of 95% of projects failed.
People are failing to find ROI.
What I find really interesting is The flip side of that, and those 5% of successes that you're seeing are so instrumental in how they're changing the world.
It's been great, and you see that across the floor here and you see that the teams that are succeeding, the companies are succeeding, and the decisions come out of that.
Well, Jeff, great having you here.
Thank you so much for joining us bright and early once again, and I hope you have a great day.
Thanks.
