In this episode of the Thoughtful Entrepreneur, your host Josh Elledge speaks to the founder and CTO of Indico Data, Slater Victoroff.
Indico Data is an AI powered bionic arm for the modern knowledge worker. They offer a modern application that pairs with your business to generate AI solutions to maximize efficiency. But what is ‘unstructured data’? Slater explains that unstructured data is data that doesn’t fit well into pre-structured “columns” of interconnected data. This is data that’s miscellaneous, such as strings of text or media. AI, roughly, is anything humans do today that machines will do tomorrow. The definition of artificial intelligence has fluctuated since its conception. But how does unstructured data fit in?
Slater shares that deep learning is very useful for a specific set of tools that relies on unstructured data. AI is not autonomous. It's essentially a bionic arm for the digital worker, as Slater puts it. AI is an assistant in your day to day work.
According to their website, Indico Data is purpose-built for unstructured data. It combines robust data analytics, advanced artificial intelligence and ML technologies, deep learning capabilities and highly efficient process automation, enabling enterprises to maximize opportunity, reduce risk, and accelerate revenue.
Slater explains the misconceptions he had about AI when he was a college student. He believed deep learning was dead – but this was due to the industry climate at that time. Very few organizations did research on deep learning back in 2012. Deep learning is an amazing technology in a constrained environment. It took a lot of time and hard work, but this is how Indico Data was born.
Josh and Slater explore how Indico didn’t hire a CEO initially. At some point, this team of engineers needed to choose someone among them to be the CEO. Slater was the CEO for some time, but he considered leaving the role. Once his team caught wind, he ultimately went back on his intuition and stayed in the role. While the company stayed afloat and was doing alright during Slater’s time as CEO, it couldn’t scale and grow. Ultimately, he pushed his team to allow him to step aside so they could seek another CEO. This meant that Slater and the team were on the same side of the table to find a new executive. He was put in the wrong role, plain and simple. When they found the right roles for both Slater and the new CEO of Indico Data, it was able to thrive and flourish.