Today I will write some first-person-perspective remarks how looks the work of people who turn over millions of dollars looks like and decide in which technological project to invest.
As an analyst and board advisory in one of the venture capital funds that invests in technology companies, I am often faced with a dilemma – which industry or project to recommend.
Work as a financial analyst in the silicon valley – first steps
First of all, even though I am an analyst, as an adviser I participate in meetings and presentations where young enterprising people or engineers often present their business ideas.
The purpose of such meetings is, of course, to assess the business potential of a given start-up, but also to assess the key figures themselves who take part in a given young project.
I have met in my work many different people some of these people have very interesting personalities and their stories are moving.
I do not like the idea that, after a time, we become too good for ourselves and for a given problem.
As a board member of a major software company, I am often asked to advise the company on new product or development initiatives.
As a company CEO, I have always tried to stay a step ahead of the technology industry, and to look at the future from the point of a business standpoint.
As a technology manager, I like to keep the technology team on its toes by helping them develop new features, software or techniques.
We all want to be part of the solution, but we want the solutions to do the work themselves!
In my mind, a company that is not doing more in the field of artificial intelligence is a company that is not a good business to be in.
It is not enough to be in a particular technology field. As we all know, the technology in a particular field is always changing and will be in that change for a long time.
A software engineer or a business person can be a very good business in a new field; it just takes a little time, but there is a long-term payoff.
We don’t know when the next big thing in software will appear. We need to be aware of it because if we do not be aware of the current state, there will be a chance that we will do things that are not in our best interest and for which there is little or no compensation, or that the technology will be too expensive.
A good business person should be the one in the forefront of the company that is doing it the right way, and at the right time and in the right way.
In a certain field, the current market will go for a while, but the future is not yet determined.
We should know that, once the technology is ready, it will never be ready. This is a very important point; it makes the company seem, if not very successful, then at least, to be on the right path.
A company that does not use artificial intelligence and does not look at the future is like a person who is not in the habit of taking a shower, who has never had a day off, or who has no money for a car (a driver), and does not use public transport (or the Internet – the last option being in most cases a last resort).
A company that does not use natural language processing and does not look at the future is like a person that does not do a lot of washing (in the sense of washing your hands), and is not in the habit of getting a bath.
A new company which is not in a certain field can be very good at the current task, and be a good business for the long term.
A company with the current market and no artificial intelligence is like a company with no technology and no money at all.
What is wrong with companies that do not use artificial intelligence?
I am an active business person. I have a job I do in the company that works on an artificial intelligence project.
But there are companies that do not use artificial intelligence as much as I do. For example, I do not have the same amount of time to take a shower as I did when I was in a previous job.
It takes some time to take your daily bath. We all have to do it. There is a big difference, for me, of having to take a shower or the morning light shower, as there is a long time of waiting.
I have never had a bad time in the company. I was a great boss, a lot of fun, and a great person. However, I also had a long list of problems that could have been fixed by the time I left.
For some projects we may need to get our hands dirty of course in metaphorical sense.