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[Music] oh [Music] a [Music] oh [Music] [Applause] oh [Music] [Music] [Music] [Music] [Music] [Music] oh [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] yeah hello together and welcome to another edition of the data science show today I have George lugara as guest we talk about the hottest Trends in AI for business um yeah Joe is CEO and co-founder from White gate gor uh how many white Gat are really L 14 in the world actually only 14 white alligators in the world okay you're good prepared um yeah on on this event you or webinar you can also get a certificate you found the link uh in the ticker actually also um after the presentation we have a Q&A session you can ask your questions in the chat and I put it on the stage um also we are an open network this means you can hash use hashtag line and write a little bit uh about you and then you can yeah we know you like to connect with each other and um yeah I think um you're also welcome to show or visit our Meetup Group uh so there you find a better overview of the next events and um yeah I think uh we can start so uh one questions to all is or I'm interesting where are you from uh I'm from stutgart uh so uh Joe where are you from I am located in a beautiful sunny New Jersey um wonderful yeah yeah we're we're in the news a lot right now with these drones flying around I'm sure some viewers have seen it on the news time and again but uh that's the hot Trend going on here for us good um yeah then um I think I put your presentation uh to the stage and uh yeah we see you later so the stage is yours L great well merco thanks for the uh the time and the opportunity to speak with everybody here hello everybody uh for those who don't know me my name is jul Lara I am the CEO and co-founder of w Gator AI um I'll talk a little bit about more about myself and what you know why uh what brings me to this conversation here in a moment but today what we're going to talk about is the hottest Trends in AI for business in 2024 and what's ahead in 202 25 um you know we hear a lot about AI we talk a lot about Ai and the media loves it right we love to talk about all the multi-million and multi-billion dollar Transformations end to end businesses are seeing huge gains in productivity increases from AI but where is this really happening right where are these businesses actually putting their money you know where are they leveraging this technology and how are they actually driving these productivity and cost savings gains that we're seeing time and again so that's what we're going to talk a little bit about today and uh let's uh let's dive in so first uh a little bit about myself um for those who don't know me uh this presentation is cut off a little bit for some reason uh with streamyard but I'll do my best to fix some of the truncation as we go but I am the CEO and co-founder of w Gator AI um a little about me is that I I carry over 15 years of leadership experience um having recently built and sold my previous SAS business for an 800 time Roi um so I have a lot of experience in the tech World um and it's that experience in technology that we bring to White Gator AI in the AI world that it is um I also am a big advocate of learning so I actually maintain a number of certifications um one being in artificial intelligence for business certification from upen University of Pennsylvania I also maintain an artificial intelligence uh for infrastructure certification from Nidia and they also carry an artificial int intelligence C certification from IBM um and quick blur about W Gator AI um I'm not here to sell you guys on anything we're here to Simply talk and learn but uh W Gator AI is an AI service provider that Garners and brings together the best solutions from across the AI Marketplace and manages them Under One Roof so businesses can see all the benefits of AI with all without all of the confusion and hard work behind it so before we dive into all of the uh the things that businesses are doing today right how they're leveraging Ai and what's what's what's occurring let's talk a little bit about the market itself because I think that really makes a big impact in terms of how businesses are you know leveraging AI right between what's working and what's not so we all know that businesses are faster with AI right I don't think I need to to justify AI I think we're all part of the data and analytics group we all understand the value that AI brings um and and we're seeing it in the real world right businesses that are successfully deploying AI are seeing real and impactful results today but I do want to put an asri here on that word successful that is a key term here that we're going to come back to in just a moment because most AI initiatives actually do not reach the Finish Line surprisingly we're going to talk more about that in a minute but of the ones that do of the projects and the initiatives that do successfully cross that Finish Line you know businesses are seeing real impactful returns you know they're actually seeing an average return of 3.7x right and that's astounding so to put that in layman's terms for every dollar that a business is spending on an AI initiative successfully they're seeing $3.7 in Returns on average but that's really kind of on the lower end of the spectrum truthfully because when you look at it the top leaders right the people who are really embracing AI the businesses that are really have really gotten behind it and are really seeing the biggest results are are blowing that out of the water right they're actually seeing an average of 10.3x returns so again for every $1 spent you're getting over $10 in returns and that's huge that is a complete Game Cher when it comes to businesses whether you're a midsize business or an Enterprise 3 to 10x is a huge multiplier to have on your return on investment so we we're going to talk a little bit more about kind of what we're seeing um as we go on forward here but it's not all sunshine and rainbows okay and we've had you've actually had a couple people speaking here um I I I tune into a lot of the webinars I listen to a lot of the the speakers and and the truth is that again it's not all sunshine and rainbows the market itself is very very big and it's very confusing and it's changing rapidly so to put that into perspective so this number here that's 78k that's the number of AI companies worldwide and that number comes from 2023 actually okay I don't even have 2024's number yet so I'm sure that number has grown exponentially where we're just going to Ballpark it and say over 80,000 AI companies across the world that's huge and why is that important that's important because there's a lot of noise that's happening right there's a lot of confusion in the market about who does what what what's happening the best use cases how to leverage AI there's just a lot of noise and a lot of clutter that's happening which is confusing people and making it challenging for them to succeed at implementing AI successfully and we're seeing that in the fact that there's over 80% right that number is not a typo over 80% of AI initiatives and implementation fail they fall on their face so you know we talked on the last slide about how the businesses that are seeing the returns success you know the returns they're seeing when they're successfully getting to the finish line but more often than not they're not Crossing that finish line and that's happening for a number of reasons this presentation isn't around the failed AI efforts we can have a whole weekl long conversation on that but you know to put it into perspective here AI initiatives are failing for a couple of of reasons the first being being cost AI is expensive right people don't realize that it it can save you money and it will save you money but you have to spend money to make money here and if you're not if you're if you're approaching AI without a proper plan right which is another whole another thing you know people are really surprised by the high high costs that come from AI which is leading to a lot of failed initiatives but the most common reason for a failed initiative is poor data and we talk about it here the name of the group is data and analytics data is key right we said said we've heard it time and again garbage in garbage out a data is the lifeblood for AI unfortunately many organizations either don't have quality enough data or they don't have the ability to access that data which we're going to talk a little bit more about in a minute and this Market's changing rapidly right it's moving really fast we've seen how many you know chat GPT versions come out we've seen perplexity launch new new products you see Microsoft everybody's launching Gemini there's so many new products that are coming out rapidly and what's happening in the industry is there's actually over a 40% compound compounded annual growth rate which illustrates how rapid and fast the market is evolving so but to put this in layman's turns what that really means here is that there's a lot of money coming from Capital firms investing into AI we know that already right we know the 10 billion dollar Investments That Microsoft makes there's a lot of money going into the investment side but there's a lot of money flowing out from the businesses to AI as well and that's really what we're talking about here because the money is continually to increase people are spending more and more and more on AI initiatives and the technology itself is changing very very fast so we get that businesses are seeing results with AI right that's that's that's a given and we're seeing that there's challenges along the way where there's a lot of pitfalls that businesses can step into so the question then comes is what the heck is happening right where is AI delivering all of this value and where are these rois actually occurring for businesses right how are they really using it because we all we can all say we're doing it we're doing AI but when it comes down to it what are the what are the people that are are really getting behind it what are they doing to see the value and the results so I'm going to talk about each one of these independently but as a high level overview here we'll start off with content and this is the one that we are probably all most familiar with right we've all probably dabbled with chat gbt or something similar at some point we've all used it for one reason or the other and and and and businesses are are no different right so content is is going to be number one we're going to talk about this but that's really about generating high quality text audio and visual content at scale for businesses the second area where we're seeing a lot of value is in data Discovery analytics however you want to term it but it's really about making sense of a sea of data that organiz have for decades and decades and decades that go unused and it's about powering that decision making through intelligent insights by leveraging the power of AI the third area which we're probably going to spend a little more time talking about than the others is AI agents and that's because AI agents in my opinion really they are the glue they are the glue that brings everything together and and realizes the benefits right it realizes the features and abilities of AI because because the AI agents are really one area that can plug into all these other things we're going to talk about so the AI agents can leverage content they can leverage data and analytics they can leverage productivity in applications and they can bring it all together in a very seamless way but it's all at the end of the day what this is about is about elevating customer experiences and employee productivity we'll talk more about that in a minute last but certainly not least is what we term as productivity okay and each one of these productivity applies for this right it's all about increasing productivity but in for the sake of our conversation today productivity is really one area that is focused on removing manual bottlenecks right manual barriers manual areas where people and and employees have to spend time focusing on uh tedious and and nonsensical tasks if you will right very simple remedial things that rather than focusing their attention on challenging tasks or strategic opportunities and that's really what we're what we're seeing is a lot of a lot of money and a lot of investment um in that particular area as well so let's start off with content all right and again um not to be a broken record but this is where we're all familiar with so I'm not going to spend time and and and incite to everybody's intelligence by talking about all the things that you know chaty BT can do but in essence content is really the the primary usage when it comes to AI for business today and that's because the ability to to create scalable content on demand has completely changed the game forever especially when it comes to marketing so surprisingly or or not so surprisingly I should say over 92% okay over 92% of generative AI uses are for marketing and PR purposes alone okay and that happens in a variety of different ways right we there's we used for blogs image creation video creation you name it right there's so many different types of content that can be generated here but and we all know that it's really powerful for creating new content right it can create new content based off limited amounts of information and and really do a very good job at it but it's also really good at repurposing content right getting more out of what you have and that line getting more out of what you have is a theme that you're going to hear more as we continue this conversation because when you boil all this stuff down right when you boil what business are doing with AI from a content and data and productivity all when you boil it all down what it comes out to and what it equals is getting out getting more out of what you have that's what it is getting more out of what you have so businesses see that and when they have seas of content that they've had for decades it's a really good opportunity to repurpose that content and leverage it in different ways which AI is very good at but there's other areas that are happening that are really really impactful in the content realm that doesn't really really get talked about all that often but businesses are leveraging it today the first is localization so you know and what that means in a nutshell is removing the language barriers so personally I I speak English right I don't speak French but if I wanted to tap into a French market for example AI provides that tool in a very that ability in a very seamless way it could take the content it can communicate it in a variety of different languages which is huge for for opening businesses to completely new avenues that they haven't been able to get into before but it's also big for accessibility too right so whether it's voiceovers or closed captioning AI is being used very very regularly with organizations for accessibility and localization um as as key components but AI you uh generative AI is also leveling the playing field right so a lot of our conversation focuses around you know Enterprise usage but when we focus down on the small business for a minute too it's really leveling the paying field for smaller groups and smaller organizations so you know you have the big Enterprises who have the big talent and the big budgets but Ai and and generative uh intelligence such as these large language models like Chachi BT even right they're leveling the playing field for some of these smaller organizations to put to kick out and put out really high quality content that otherwise would have only come from a you know a a big budget Studio but perhaps the most important component to talk about when it comes to cont content generation is email and it's about improving Clarity and effectiveness of communication between internal and external sources you know for those of us who have worked in Corporate America I'm no stranger to it we all know that some people can are better communicators than others right there's some people can c can communicate a little more effectively some people can be more dry more direct what AI allows businesses to do and the people within those businesses is to is to communicate more effectively clean up the communication which which provides a higher level experience for people you work with as well as of course for customers as well so email is really the key here a lot and it's really one of the biggest usages of um you know generative AI in the content realm as well so we talk about content and that's the biggest usage right over 92% but data Discovery is not far behind all right data is everywhere we know this it's not a surprise data lives in a variety of systems and a variety of formats think about it right it can live in CRM systems it could live in Erp systems it could live in PDFs Word documents it could live on text messages emails data is everywhere right and before the rise of AI you know youu of course had to have there were tools there were tools and there are Specialists data you know data analysts to go through this but it it was it wasn't to the level that AI can provide the level of insights that AI can deliver and and especially when most businesses are you know uh there's business data is either ver structured or unstructured okay so what that means is data being structured is living in systems like crms unstructured means living in documents and on somebody's computer for example okay so what AI allows you to do is really to aggregate that data right and that's the big big powerful thing here it's about aggregation it's aggregating that data across the systems and formats with the actionable insights so what we're seeing too and and this is what we're seeing in the in the business world right over 40% of the companies that are leveraging and using AI today are using it for analytics and actionable insights and that's because it allows them to get a lot more out of what they already have it allows them to identify the trends that are happening that humans that we cannot see or are way too labor intensive to find right so businesses are seeing the power of AI from an analytical and data Discovery standpoint and it's showing um and it and it makes things really easy for people too right because it it presents the data in easy to understand format um and it really makes it makes very complex data digestible for people but it goes beyond that too right and it goes beyond just crunching numbers and displaying kpis in a dashboard because data Discovery as I mentioned earlier when combined with something like an AI agent it creates a data center in your pocket okay so instead of data simply being available a on a dashboard that you're going to log into which you can do right imagine having an assistant on your phone an assistant that you can call whatever have you that you can talk to on your device to mine and pull that data H it can find that data instantly rather than you having to parse through it and it can display that data in an easy to understand format and tweak it if you need to you know so that you can get you can focus more on the task rather than the activity of Mining and pulling the data and that alone is really the most important thing to mention here when it comes to data Discovery because that's what it's about right it's about it's about finding those hidden Trends and and putting it in an easy to understand way so so Business Leaders can make better decisions and just to give you guys a couple examples as to where this is being used quite frequently from a an analytical standpoint uh in life sciences you know it's being used for new drugs and treatments uh Insurance World which you know is probably one of the key areas where you're going to see a lot more AI in the next next year or two insurance is rif for AI for AI Transformations you know it helps to provide better risk assessments um it helps in finance for stock trends and trading real estate right it can help uh businesses make better decisions from loan and mortgage assessments and healthc Care especially too right and uh you know doctors may not be so too thrilled um I've read a couple studies where doctors aren't so happy that AI is so good and effective at it but I think it's important to mention right because uh and AI is allowing businesses to or allowing Health healthcare industry to to be more accurate you know EXT it can analyze x-rays it can analyze MRIs it can and determine uh the cause of a variety of symptoms um so data Discovery is everywhere it's not just mining a few financials and businesses are applying it in a variety of ways over 40% of them are uh leveraging and using it so as we move forward here now we're on you know we're going to talk a little about AI agents all right so as a recap you know businesses are seeing great returns uh there's some pitfalls along the way right uh to to getting it successfully off the ground but the businesses that are getting it off the ground are seeing great returns content is the biggest re biggest area where businesses are applying AI data Discovery is the next area where people are really applying AI but AI agents are the wave they're the next wave of the future and you guys probably have heard it from everybody right I mean I I I set through the whole agent force you know and then you know them talking about the ne the how they're doing the whole dream Force and and the whole thing around that and we've all also heard of the agentic future right and it's really true because AI agents are the glue that bring everything together it allows businesses to access content generation on demand it allows businesses to access data and information on demand in your pocket and it allows business to access and leverage applications and workflows which we're going to talk about in a minute on demand and just to give you guys an example because a lot of times when I talk to people you know when people think of AI agents the first thing that comes to their mind is chatbots right and and heck you know it's why it makes sense because that was pretty much the most predominant usage of AI agents up until this point but you know as you'll see in these images here on the top corner of my the graphic you know AI agents do so much more you know through simple queries on text messages or chats you know it can actually mine and pull that data we were talking about it can pull reports it can send information to people and it could do a v they can do a variety of different things and we're going to talk more about those in a minute so as we started 2024 you know AI it was all about anything AI anything AI got people excited in the early parts of 2024 especially from the content inside chat BTS but as we started to move through 2024 it became very clear that agents were really where things were going to be moving and so in 2024 about 10% only about 10% of the companies were using AI agents okay but and and that that's a far cry from the 92% that we're talking about with generative Ai and content however because it is growing so fast and because it is really that glue that brings everything together over 82% of companies are planning to use AI agents within the next two years okay so it's it so the adoption to it is has been slowed to this point but it's going to pick up very very rapidly very very fast and so to give you guys some insights as to where AI agents are being leveraged how they're being leveraged and really what they can do there's there's no limit okay I'll say that there's no limit to what an AI agent can do it's really about your imagination and your creativity and of course your skill set and being able to prompt it and being able to connect it with different tools and resources but the number one the number one usage of AI agents today where over 75% of AI agents are being applied is in software development now that number actually surprised me right that number actually surprised me because my you know much like many others my initial thought in many conversations I have with people is around ticketing support and things like that but software development by far number one in terms of where businesses are leveraging the power of AI agents because they're very good at again accessing all that data that information and generating evaluating and rewriting code it is taking it is supercharging not just accelerating it's supercharging businesses and it teams to create applications and to create software that they were otherwise having to do manually that would take them months if not years to to do and it can be and and they can have high quality outputs at least at least a foundation to build from within a matter of hours to days and this is happening in one of two forms either supervised or unsupervised to to keep it simple here supervised is really about really where you as the user are telling the AI what to do right I want you to do this I want that I want this I want that it's really more of a a command and receive type of relationship when you're however semi-supervised is which is actually the most predominant way which is how most businesses are leveraging so uh AI agents today for software is in a semi-supervised approach where where it's becoming more of a an ally if you will saying you know they present information they get input and it's a it's more of a push and poll more of a more of an actual established relationship working with AI to try to Define and build whatever code or application you're doing but it doesn't just end it end its software okay the next and probably most common area that most people are familiar with is customer support but it goes beyond chatbots because AI agents have the ability to make in and outbound phone calls text messages emails they can communicate with people customers or clients however you want to term it it can communicate with them in any form or fashion that you really choose and what's really cool is they sound natural too um you know we're playing we have a couple over here that we play with and you would be blown away by some of the the the natural sounding quality of some of these agents they can even sound like you right they can even sound like you in your voice male female but again localizing things they also work with in over 160 200 plus languages so imagine right your customer support team you get incoming phone calls you handle it you you you end the call you move on to the next however imagine right where somebody calls in and you can't understand them right they're using a different language AI agents allow you to cross that barrier in real time and it can communicate with people in the form that they're most comfortable with and we're seeing that time and time again now but they provide so many benefits too on the customer support side um they allow businesses to be 247 available um and when it comes to things like call centers um where answering phone calls and getting them off the phone with a positive resolution is key AI agents are excelling greatly so call centers you know those are areas where AI agents are absolutely applying and they're seeing huge Returns on it because you know an AI agent doesn't get tired it doesn't take breaks um it it answers every phone call that's going to be coming into the queue whereas others may have to sit there you know uh when you have a human you have to wait for them to be available but even more important than that is artificial intelligence when you equipped with the right data can Auto triage things as well and so what that means is you know if you have if you have a a customer coming in with a problem right and they tell you they have a problem but you need to get more information before you can figure out how to solve it you know you'd have to kick that to a live person they'd have to go through their questionnaire you know figure it out it's a Time kill it's a Time kill to gather data and information to make a decision where AI agents can take it up take that brunt of the work up front they can Auto triage the issues before pushing it over to a live agent which greatly greatly accelerates uh resolution times and of course again no no more uh uh no more wait no more weight times either the other another area where AI agents are applying greatly is in Human Resources okay you are going to start seeing in the next year or two you will start seeing more AI avatars more AI screenings interviewers things of that nature that is coming um in fact we are working on a product for 2025 around that specifically um but so far in 2024 where where human resources are really seeing the the biggest benefit from AI is about re really Expediting that job the job hostings right it's helping to create and post the jobs it's helping B uh HR teams pre-screen candidates validate and verify them and then of course communicate them with through things like email so right now it's it's really about kind of supercharging and accelerating the uh administration of the hiring process if you will but I can assure you we like I said we're working on a tool I have demos I can show people if they're interested uh we have tools and we'll be bringing them to the market here in 2025 where it it it goes end to end so from creating and posting jobs to pre-screening to interviewing to even hiring and sending offer letters it's it's everything from top down uh it's really really cool and we're going to see a lot more of that coming in the new year last but not least again uh comes down to sales and when we're talking about Investments and things like AI businesses want returns and the only way businesses generate returns and revenue is through sales so it's only natural that businesses begin to dabble and play with where AI can apply in the sales World um and it's and they're already getting involved in it and they're already doing a number of different things so first off AI is great at data mining right so if you're a good sales rep um the good ones will take their time right the good sales reps will take their time to personalize Outreach they'll do their research they'll look at the numbers they'll look at reports before before talking to a candidate or a lead excuse me so that they have the right information and can make the best decision but and so what AI can do is really kind of take that grunt work out of it right it allows them to mine that data again an assisted in your pocket it allows them to mine that data and and and and become equipped with all the resources they need to execute effectively on that call um you know without having to spend the time at Mining and pulling all that data right but it can also do so much more right you're actually going to start seeing and we're already starting to see it and you're starting going to start to see more sales assistance where they can help things like um rebuttal right so a customer has a complaint or an issue um as to why they don't want to buy and then you know a sales rep can certainly leverage and use that technology to try to find answers and ways to rebut those types of things so that's coming too but these AI agents really where they're going to Excel and I think you're going to start to see more of this I'm sorry to say for all of us myself included who hate getting the robo phone calls during dinner it happens um you know AI agents are going to be common place um so and let's put this into perspective here if you're a sales rep which I've done for for many many years right oftentimes you're giving call sheets you have like a 600 people thousand thousand leads that you have to call off of right and realistically the average sales rep can make on a really good day a really good day like 60 phone calls usually more towards 30 40 for real you know to be realistic here but AI does not get tired and it doesn't get this made when people say no so AI agents are really going to become are really starting to become more common place in making cold calls right it's making that initial Outreach to cold prospects to try to build up some interest so that they can pass them along to a sales agent to pick it up from there but it goes beyond that right so it can make the outbound phone calls make outbound text messages but it can also do the work for the the sales rep as well so that they can focus on more important tasks um it can make it can schedule phone calls it can actually send follow-up documentation but even more importantly it can handle task Automation and that's comes back to the productivity side of things um what I mean by that is for any of us who are have done sales right and I'm sure of all the people viewing today it's no many of us are no stranger to it right but the bane of every salesperson's existence I'd be hardpressed to find anyone who disagree on this the bane of any salesperson's existence is recordkeeping and upkeep it's it's it's recording call notes it's it's updating systems it's it's you know trying to get hold of different people in departments Finance whatever have you it's it's the backend work because when you're a sales rep you want to hang up that phone you want to pick it up and get to get to the next one and that's what you should be doing however what happens today right pick up a phone put it down I have to take you know 15 20 minutes to add my notes collect my files send my follow-up emails follow-up tasks schedule things no more and and that's going to be really the next wave you're going to see here in the new future we'll talk more about that but task animation is really where you're seeing a lot of businesses uh invest from an AI agent perspective especially on the sales front so last but certainly not least here is productivity and again this is about getting more out of what you have because let's think about this right be pre 20123 2024 or AI was just a a flutter to most people right and most organizations and they've invested heavy amounts of time and energy and money into their legacy systems their crms or erps or HR systems whatever have you right and many people think when we talk AI that you're have to get all this new stuff and it's going to replace all this no that's not what it's about and again as I said at the top of this conversation AI is about getting out getting more out of what you have right than than stacking new on top of it and we're seeing that here in the business world because these businesses have invested heavily in their legacy systems they've invested and thought heavily in terms of their infrastructure and why would why would they want to rip out all of that time and energy when they can just simply stack on top of it and get in supercharged to get more out of it and that's what this is about um so in 2024 you know and then moving into 25 to over 33% of firms are prioritizing productivity as their top outcome and that is over top line growth so for businesses they are more focused rather than focusing on driving more returns and revenue at the Top Line they are focused more on getting more out of their employees and the systems that they have today that is their focus that's where their money is going and that is what they're they're they're emphasizing you know most importantly and when we talk about productivity what I'm really kind of getting into here is is a world of AI powered applications okay AI powered applications are tools and applications that automate specific tasks and activities with the goal of automating entire workflows and in essence what they are what these AI powered applications are are they Bridge gaps okay so think of it this way Salesforce wonderful tool millions and billions invested into it right they are a cruise ship they're huge and big wheels turn slow right a lot of analogies here I know I'm throw them at you but it's a cruise ship and it moves slow but but that can't get you everywhere you need to go right sometimes you need a speedboat to get different places and to move from port to port or to move from place to place or see different things and it's the same way here because these systems while they have Integrations while they have thirdparty applications and things that can connect to it at the end of the day it's limited in its capabilities and so what AI powered applications do is they they Bridge those gaps they they're essentially the piping it's the piping underneath that people don't see but it in interconnects all the different systems so that what what what occurs in one system can be replicated over in five 10 different systems alert different teams and also kick on and and you know perform activities in order to automate certain tasks so that's what AI powered applications are in a nutshell and I mentioned too about how you know some of these bigger uh platforms have like third- party applications that you can purchase and download um but one of the challenges that organizations are finding and again I keep saying I'm gonna come back to it I have some data to show you on a couple slides from now but IP is really important as you would guess for many businesses and when you're dealing with things like um you know pre-built applications third-party applications where businesses are um you know uh where where it's it's it's using a lot of data that's really really important for a business IP is extremely important right and they don't want to just give ownership over to uh a third party application you know that some random developer did they want to create the application and use the data you know for their own purposes in their own house right it's their data and what we're seeing too is that these are happening in three there's three different types of application or types of applications that are out there that businesses are using today the first is pre-built right so these are pre-built ready-made applications that businesses can simply plug into it's great it accelerates deployment times it makes it really easy to businesses to get started without all the development work behind it but again that comes into the IP area where businesses are finding now that it there are some downsides to that there's also custom right it's the complete other end of the spectrum so custom applications are built from the ground up they're built for specific purposes for specific business functions and uh you know it it's really made specifically for that organization then there's somewhere in the middle right where there's custom pre-built where it's a pre-built application but then they add some layers of customization and Tailoring on top of it as well okay so there's a lot of different ways that businesses can leverage AI powered applications and that they are today in today's world most people are using pre-built applications okay I have some data to show you in a minute most people are using pre-built however you're what you're we're already finding and what you're going to start to see is that people are already Gra itting towards more custom options because of the flexibility IP and everything else that comes with it now so AI excuse me AI powered applications are they help businesses get more out of what they have but data is key here right and believe it or not when we talked at the top of this conversation about how 80% of projects fail majority is because of data over 26% of AI projects today are fail failures because of poor data quality or access so maybe the data is not good maybe it's been you know um maybe it's just poor quality maybe it lives in systems that just don't work with different things that people can't get access to whatever the reason you know data is the most important piece but it's also the piece that that creates the most problems for organizations because you know they don't they haven't taken the time to really make sure that their data is of the highest output and so that's data extraction comes into place and we're seeing a lot of investment on the data extraction side because 80% of a business's data is unstructured and as a refresher what that means is that 80% of a business's data lives in documents outside of central systems like crms and that's hard right because because that requires people to look for the data they have to know where it is right they have to know where to look in the first place then they have to find that data then they have to use and leverage that data extract it and then and uh you know and everything between there but uh intelligent document processing which is really the the name behind G extraction it's really about extracting the data from any document in Source right to ready it for these workflows so to bring this all together for you guys when we're talking about AI powered applications which use data to supercharge actions between systems something that data needs to be pulled from somewhere and again the data is not always in good shape right and it needs to be done accurately and correctly so data extraction is huge and we're a place where businesses are investing a lot of time and effort to ensure that the data is in the best shape and they can access all of it wherever it lives but even more important than that is it reduces human errors and accuracy so you know one of the common problems that every organization have is ensuring High you know the accuracy of their information um and that rides on the human the user who's inputting that information maybe they put a wrong address maybe they put a wrong phone number right there's so many different things that can happen here um but data extraction is EXT I excuse me intelligent document processing and data extraction is extremely accurate um over 95% accuracy in many cases at least the system we use does um and and that makes it very easy for businesses to pull data that they need um without the problems right the accuracy and the human errors so just to give you guys an example here all right so so I know this is a lot and this this slide alone is probably a little bit uh much for many people to digest but I want to bring this together with an example okay and so in next year we are currently working on launching a product uh for mortgage loan applications okay so for anybody that's ever applied for a mortgage myself included it's not a fun process right it's it's very tedious there's a lot of uh you know manual work that goes behind that can that is really just repetitious and annoying and that's just from the user side right right imagine it from the business side so there's a lot that goes on a lot of data points a lot of secure information that has to get transmitted and and and determined from from the banks or whoever is issuing the mortgage and the mortgage process a loan application process takes upwards of three weeks more times than not and so we're really excited because what we're bringing together here with this tool is exactly what I just talked about which is the data attraction side with the AI powered application side that's going to supercharge and can take this three-week process to a single day that's the power of of leveraging this technology and that's the power that businesses are finding today so more more to come on that particular product here but um you know data extraction is a huge key in terms of getting the data where it needs to go and and pretty much giving businesses the fuel they need because without without data without information the best AI in the world can do nothing for you so that's a little bit of a rundown on what happen at what what we' seen here in 2024 right content data Discovery AI agents and uh productivity are really where businesses are hanging their hats uh to see the biggest returns and leveraging the power of AI but what's coming I mean heck we're already in December 12th everybody right crazy how fast this year moves here but what's ahead in 2025 and what can we expect to come down the pipeline well first off um we're going to see AI reinvent a number of core business functions um and that's going to happen in a number of different departments and areas but most notably three of them and that really is it customer service and sales right so it just as some ideas and examples it it makes sense when you think about it from a from a you know a a common sense standpoint here it is where all the technology Happ happens right so there's going to be a lot of investments in it particularly with within um cyber security right particularly within cyber security infrastructure Investments it has this has to happen in order for customer service and sales and marketing to see the benefits of AI of of what's to come it has to invest in the infrastructure and that's where you're going to see the most of the spending actually happen um customer service again we've talked about all the same things it's about uh increasing that customer experience you're going to see a lot more agents pop up on the customer service side you're going to see a lot more automations uh pop up on the C customer service side pretty much anywhere that is a customer touch point you know you're going to start to see more Ai and sales you know as we talked about before again um you know sales is where the money comes in sales is the revenue generator so that's where businesses are um you know going to be applying a lot of it I've actually had conversations with some different groups um around this year you know and so there's a lot of different thoughts on how this can be leveraged a lot of different ways it's a matter of your comfort level um for your business but you're going to see some big spend um coming in 2025 on this and as I mentioned earlier before um you know today most businesses are leveraging pre-built AI Solutions right so uh you know and we see that time and again because right for the past 20 years right everything has kind of been a horizontal SAS Focus right and just to kind of use the same example as before Salesforce right great tool great product you know Salesforce is horizontal it transcends Beyond different verticals but AI to this point has primarily been vertically focused so tools are coming out for specific verticals and specific use cases and that's really where we're talking about with these pre-built Solutions because they focus on one particular task in one particular vertical and they do well but you're go we are starting to already see a shift um as we move into 2025 here where more businesses are gravitating towards a custom version of pre-built and again what that means is um you know they can they want to pull this they want to they want to be able to leverage this pre-built solution and then stack on top of it with either custom applications you know making tailor or tweaks to it um if they're able to or and a variety of different things so you're you're we're already starting to see more businesses move in that direction and although the numbers on this slide don't indicate it personally I I believe we're going to see a huge shift more towards completely custom applications and that solely comes down to two factors right first is uh IP because when you have pre-built Solutions more times than not you know that that application or that tool it it resides with the owner the vendor rather than you as a business which is a non-starter from any organization and the second area is security right because a lot of these tools have their own security requirements that you you have to adhere to whereas when you're dealing with Enterprises that doesn't fly right that doesn't fly they have carefully thought out and executed it infrastructure and security requirements that need to be met and so those pre-built Solutions will never be able to do that we'll never be able to meet all those needs whereas custom Solutions although they may take a little more time to build um they're way more tailored for the needs of that business for the short and for the long term and so again just to call attention to the graphic here you'll see that over 43% of businesses today are investing in pre-built you know uh over 38% are going to be custom and then another you know 36% is going to be in the next 24 months I do expect again that custom version to to to that number to increase as we go um I do see some questions coming in on the comments um I'm happy to answer questions at the end of this conversation um yes you guys can have the slides after this not an issue um and I'll turn to the comments and try to answer them um as soon as we we finish this up so what are the trends to watch for here now as we move into 2024 right we're moving to custom applications and we're moving to um and and the spend is really occurring in the in it sales and customer service so what are the trends right what are the tools and what are the things that you're going to start to see more of as you move into 2025 well the first is going to be agents um I'm again we've heard this time and again right it's an agentic agentic AI agentic World um and that's that's the God's honest truth because AI agents as I've discussed is they are the glue they bring it all together they are they are the they are the users Pathway to interacting and engaging with AI for a variety of different purposes and it's going to their AI agents are going to continue to dominate and especially at places where you find customer touch points like customer service sales things like that okay but it's not just going to be there you're you are we're already seeing it and you're going to start to see even more back office usages as well so things like reports um for finance uh you know for example accounting pulling getting you know invoice automation um from a legal perspective right uh you can have tools that can actually transcribe review analyze and up and make changes two contracts you know from a legal perspective there's so many different ways that it's going to be applied but you're going to start to see a lot more behindth scenes usages as compared to just you know um you know customer basing you're also and and that comes along with the AI in your pocket that we talked about right the ability to call upon an agent at your whim to say hey I need a I need this report I need this data mind from it hey I need to find out how many people are in this place at this time whatever it is right you're going to have an AI agent in your pocket and uh by the you can almost bet by the end of 2025 it's going to be a lot more common place and one area that's going to really explode with this is Healthcare um in fact over 90% of hospitals plan to incorporate AI agents within the next two years so you know when you think about uh hospitals and Healthcare right it's a let's be be honest it's pretty Antiquated and dragged out process you know I have a three old daughter and I can't tell you and you know the headaches that that we have to go through to to just get someone to see her for something um but you're going to start to see a lot more uh agents pop up in hospitals within the next two years here and that makes sense right providing a more personalized experience for people exped Expediting increasing their health care um and just making just increasing overall accessibility right hospitals are always on the Forefront of Technology they always are because you have people's lives at stake so hospitals are always generally always the one of some of the First adopters with a lot of things so you know it's going to be interesting to see where and how they apply it but you're going to start to see a lot more of that popping up in healthcare as well and more than anything uh you are going to start to see fleets of Agents what we are right now is in what we would call an inflection point for AI agents um we are currently in uh you know at a point right now where we are we are calling upon agents to do things right so hey AI agent I need a report on this hey can you email John Smith hey can you set me a reminder for XYZ right that's how we're using AI agents today but what you're going to start to see is that it's going to be to transition from a single agent to more strategic and fleets of Agents so it's going to move from us giving commands to agents to agents being a little bit more flexible and can make strategic decisions on their own where they'll be able to to you know think critically and and apply you know answers without the need of human human intervention or at least minimal human intervention but as as we go through 25 I would say closer to 26 you're going to start to see complete armies fleets of Agents come out it's not just going to be one agent doing one task it's going to be entire Departments of agents that are doing tasks an entire accounting department of Agents you know uh doing all the work that it needs to do analyzing crunch ing numbers whatever have you it is an agentic future at least for the next 24 months it's definitely going to be um so you can you can bet your bottom dollar that you're going to start to see a lot more um agent uh a lot more agents coming up in the next couple of months from there cyber security um and this makes sense right we talked about it we talked about the spend and infrastructure Investments that are going in there um today how how cyber security works is it's reactive okay what that means is that a threat comes and businesses have to react to it right quite pretty simple but what AI enables businesses to do and is allow and is going to really you know really make waves here in the next couple of months is in the cyber security front to make them more proactive um so rather than being reactive they can be on the attack so AI can help them you know adhere to all the compliance issues that they may be having right staying compliant with different things which is a huge headache to begin with for most organizations we actually have an AI tool that can do that today um you know cyber security tools can scan uh can actually proactively scan networks for weaknesses it can detect vulnerabilities before they happen and it can you know recommend remediations all before a threat occurs which is huge because again today it's really just about reacting to what's occurring and last but not least is video um we've seen like open a I just releas Sora this week or last week right it pretty cool really really amazing amazing amazing stuff and I've I've been hearing a lot of murmur a lot of talks about um you know them having conversations with things like Hollywood about movies and I think that's that's coming it it will come it will come you can you can you can you know take that to the bank but it's a matter of when and I think that as we move into 2025 here though you're going to start to see a lot more AI video applications particularly in retail and what I mean by that here is like taor product marketing so think of this you are in the market for new running shoes okay just an idea here you're in the market for new running shoes and you want to take a look you're taking a look at these new Nike shoes that you see online somewhere okay you don't know how they look on your feet you don't know how they feel blah blah blah but you've been using your computer and you have a lot of buying habits you got a lot of history and a lot of information that AI can can mine to create a c customized video for your preferences with that shoe in mind so in other words you can see yourself running in that shoe down the street you know with a tailored video around you know that that sings and speaks to you that was generated in real time through artificial intelligence that's very real and that is something that you're going to start to see a lot more frequently especially in the retail space but it doesn't have to always be just glamorous um you're going to start to see a lot more videos emerging for things like catalogs um you know in a similar capacity you have all these these tools catalogs can allow it to be more real where you can see yourself wearing them um it could take pictures of shoes and turn them into interactive 3D you know displays and demonstrations there's a lot of ways that that can happen as well as in guides and how howto um you know we work with a lot of it firms um that's one of the areas where we we really specialize and focuses in it and infrastructure and um you know uh for example we have one client who's been around for 25 years they have 25 years of data and they have they people don't even know where to find things half the time right so we have a number of solutions going into place here but what's really cool on the video side is they can take those that documentation they could take those how-tos they can take those guides and they could turn them into interactive videos without having to spend the time energy money and resources to do it right so AI can do it very quickly and take something that is very dry like an IT guide an it how to and turn it into an interactive video that's more more uh receptive somebody and then commercials right so we're going to start to see more AI commercials I'm already starting to see them um actually was just watching a movie yesterday around AI um coincidentally and the whole intro to the movie was an AI generated video so you know if that tells you anything there's a lot more usages coming out from that standpoint there so if you're interested in getting started with AI it doesn't have to be a very over complicated process process um there's definitely things you have to do to get it right but it doesn't have to be overly difficult and overly complex um really first start with one paino you know pick one paino indeed starts ball okay it's wonderful it is wonderful to have a goal of complete digital Transformations right that's a great goal in what you you should be striving for but you got to start somewhere and the best place to start is a simple small use case where you can you know choose one process to address and build out piece by piece from there from that point you know once you've selected kind of where you want to focus you got to plan you got to really plan for the big picture too often do businesses get stuck thinking about the short term and how I can do one thing where they forget about how that one thing is going to fit into the big picture of what they want to achieve okay so it's extremely crucial and on top of that excuse me on top of that as well businesses also find as they go through this they start using tools only they found out that you know their systems don't support it they it it it doesn't work with their security requirements all those things we talked about before so it's extremely crucial for businesses to plan so map your data map your systems and map your processes identify a shortterm and a long-term win and more and very importantly to plan for the change you know get your team involved AI is no good if your team is fighting it at every tooth and nail and wants nothing to do with it you got to get your team involved early talk with them and involve them in the process you're going to find that that you're going to have a much more higher rate of success when when the team is on on board from there data fix your data clean your data whatever you got to do centralize it you know in systems like crms that's really a key component here in order to powering AI but make sure it's clean right make sure it's of the highest quality because garbage in garbage out then research you know make sure and I can't stress this enough guys um as somebody who runs an organization that is predicated upon on doing the research for businesses finding the best vendors and then bringing them under our umbrella that I can't tell you how important it is and how many imposters are out there okay I actually had a conversation a couple weeks back with uh a group that was making waves in Dubai with uh with AI agents so we wanted to see what it was about went through the presentation you know product was fine and we went to the Q&A we're talking to the founder and our questions were very simple is this sock to compliant his answer it's not important excuse me the next question okay well how does your product differentiate from your competitors XYZ H you know it's all technology you know and these are the answers that you find you when we're talking about 78 880,000 companies across the globe you find imposters everywhere and it is and I can't exess to you all enough how important it is to take your time in selecting the right products and service to solve your challenge right ask the hard questions especially as it pertains to things like data security and intellectual property those are extremely key and again when it when you marry this with a plan on how your and your data and your systems and your processes and you marry that with proper research you're going to have a higher likelihood of having a positive result but you also have to hire the ray Talent um AI is a specialized skill set um it is not something that you just pick up and do um it requires specialized knowledge and so having the right experience is essential um so make sure that you bring in the right people last but not least test test test test but do it with real data uh too often do I see organizations run tests with some sample data but it's not actual real data that they pulled themselve