Innovation in Compliance with Tom Fox AI - a Horizontal Approach to Business Process with Brian Sathianathan
AI is a horizontal force that can be applied to every department and industry, from retail to banking, legal to HR. The market size for AI is projected to be over $680 billion by 2030, making it one of the most significant technological advances in modern history. Brian Sathianathan, Chief Digital Officer and co-founder of Iterate.ai, joins host Tom Fox on this episode of Innovation In Compliance to discuss the transformative power of low code software and AI for enterprise transformation.
Brian Sathianathan is the Chief Digital Officer and co-founder of Iterate.ai, a company that helps large enterprises innovate faster through low code software and AI. Sathianathan began his career as a technologist at Apple, working on their secret products and later starting his own video streaming startup. He then transitioned to venture capital work before founding Iterate.ai with his co-founder John Nordmark.
You’ll hear Tom and Brian discuss these ideas:
- AI is a horizontal force that can be applied to every department and industry.
- Low code software, such as Iterate.ai's drag and drop software, can help large enterprises innovate faster by building AI and IoT applications 17x faster than traditional methods.
- AI can be used to scale up a business by improving personalization, image recognition, and even employee hiring and termination.
- AI can also be applied to supply chain optimization, route optimization, and storage optimization.
- The AI market is projected to be over $680 billion by 2030, making it one of the most significant technological advances in modern history.
- Business process automation is becoming more popular as it allows for the removal of repetitive tasks, freeing up time for more creative work.
- Low code automation started with BPO/BPA processes and eventually expanded to other areas like enterprise applications, consumer ads, and industrial solutions.
- AI is applicable in BPO processes, particularly within banks, insurance, and finance institutions, where there is a lot of data and conversion from digital data into data that can actually be understood.
- AI is being used in combination with rule-based or workflow systems, and there will be more code generation and workflow generation happening in the future.
- Iterate.ai advises boards on use cases and business models to transform the business and eventually work with the senior leaders to get it going.
KEY QUOTES:
"Innovation is going to be everywhere and we wanted to have a company that helps large companies innovate a lot faster. …We realized that for large companies to innovate more aggressively and more effectively, they need software that actually is connected to all these ecosystems." - Brian Sathianathan
"The beautiful thing about AI is that it's what I call a horizontal force. When you have technologies, there are vertical forces that can be only applied in one area of the business or you have horizontal forces which can be applied across the entire area of the business." - Brian Sathianathan
"Using a platform like us, you can build a Lego blocks and build a workflow very gracefully, and you can apply AI at every point of the decision-making." - Brian Sathianathan
Resources:
Brian Sathianathan on LinkedIn | Twitter | Email