Navigating Challenges in the AI Industry: Element AI Analysis and Recommendations
In this presentation, the team explores the growth trajectory of Element AI amidst hurdles in the industry. They discuss key issues, objectives, and provide a recommendation for Element AI to establish a North American AI conglomerate. The analysis delves into the AI industry overview, challenges of fear mongering, and emphasizes the need to address misunderstandings to combat fear. Throughout the presentation, a strategic agenda is outlined, offering insight into how Element AI can expand services, influence public perception, and bring products to a broader audience.
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Presentation Transcript
Blue SkAI The Spring of AI ALTUM CONSULTING MEMORIAL UNIVERSITY
AGENDA 1. Challenge Kim Sheppard 2. Analysis Curtis Whelan 3. Alternatives & Recommendation Kim Sheppard 4. Implementation Plan Christina Fong 5. Financials & Risks Evan Foote
Challenge How can Element AI follow its current growth trajectory while navigating the hurdles facing AI
Key Issues Media influence Doomsday scenarios Public and media perception
Objectives Expand services Influence public perception Bring products & solutions platform to broader audience
Recommendation Element AI should seek to establish a North American AI conglomerate while aiming to influence their own micro environment
ANALYSIS CURTIS WHELAN
Analysis Focus Areas Industry Overview Element AI Overview Business Model
AI Industry Overview 1.5 Trillion USD by 2030 Not Rapid Growth Sector AI Without Challenges Winter Period
AI Industry Overview 1.5 Trillion USD by 2030 Not Rapid Growth Sector AI Without Challenges Winter Period AI Infancy But The Sky is the Limit.
AI Challenges Fear Mongering 1. Doomsday Scenarios 2. News Articles 3. Negative Reinforcement
ERROR: The biggest contributor of fear is a lack of understanding.
Element AI Overview 3 450 AI Experts 6 5 Years Old Research Domains Global Offices Thousands of Potential Customers. Limitless Growth Potential.
Element AI Overview 3 450 AI Experts 6 5 Years Old Research Domains Global Offices Thousands of Potential Customers. Limitless Growth Potential. You Have the Power to Shift the Mindset.
Element AI Business Model In this Model, Perception is Key and Everyone Matters.
Element AI Business Model In this Model, Perception is Key and Everyone Matters. Everyone is the Target Audience. All Lives Will Be Affected.
ALTERNATIVES & RECOMMENDATION KIM SHEPPARD
Alternatives 1 Stay hidden 2 Cold call expansion NA AI conglomerate/micro environment influence 3
Alternative 1: Stay Hidden Pros Cons Less exposure to public perception issues No additional cost risks Does nothing to influence the public perception of the company or industry Difficult to acquire new sales Brand recognition
Alternative 2: Cold call expansion Pros Cons Proven model by other tech companies (ie Verafin) Grow leads to offset long sales cycles Does nothing to influence the public perception of the company or industry Greater sales workforce required Time and capital intensive
Alternative 3: NA AI conglomerate/micro environment influence Pros Cons Knowledge sharing Pooled resources Public awareness Greater customer reach Changes the company s branding in the public eye Time and capital intensive Exposure risk
Decision Matrix Objectives Alt. 1: Stay Hidden Alt. 2: Cold calling Alt. 3: conglomerate and micro environment Expand services Influence public perception Products & platforms to broader audience
Recommendation Element AI should seek to establish a North American AI conglomerate while aiming to influence their own micro environment
IMPLEMENTATION CHRISTINA FONG
Element AI Promotion You have the resources to shift the mindset. Here s How: Educational Video of Stories Show the Value of Element AI Blue SkAI Publish Customer Case Studies Provides Proof of Concept Customer Testimonial
AI Industry Promotion People Want Information from Trusted Sources. NAAIA Create the North American AI Association to be the Voice of AI in North America.
Purpose of NAAIA Spearheaded by Element AI Business Development to Communicate the Industry of AI and Support Knowledge Transfer. Hold Industry Events Connect Thought Leaders Influence and Inform Government Legislation Distribute Meaningful and Accurate AI Information
Risks with AI Promotion Risks with Communication Risks Without Communication Were Previously Incognito Negative Perceptions Remain Communication Stirs Conversation Continued Distraction Transparency & Exposure Lack of Truth and Education Company & Industry Awareness It is a Cyclical Problem if Not Addressed.
Target Audience Company Industry Enterprises General Population Institutions Millennials and Generations Above Other Tech Companies Addressing Enterprise Sales Cycle by Focusing on Relationships and Partnerships, Industry Leaders, Convince Customers How AI Can Help Them.
Natural Partners Other AI Companies NAAIA Educational Institutions Healthcare Institutions Involved in AI Research Government (Ministers)
FINANCIALS & RISKS EVAN FOOTE
Assumptions Element AI intends to continue its aggressive growth strategy High likelihood of future funding rounds Element AI still has considerable cash on hand from the previous funding rounds
Financial Overview Received $US 250 million in funding in the last two years Planning to keep expenditures low focusing on small amount of cost effective strategies planned spend of approx. $US 50 000 for Element AI focused video BD salary for employee responsible for AI group $60 75 000 University partnerships not expected to be a great expenditure reach out to willing institutions for partnership.
Conglomerate Overview Seeking to have a significant variety of companies and AI specialties Aim is to form the industry corporation, which will be funded by AI companies Target of 0.25%-0.5% of revenues to make it both affordable and fair Will be tweaked based on the size/stage/contributions of a company
Conglomerate (Continued) Funds will be used for a variety of purposes Lobbyists for government/gov t programs ($150 000 - $250 000) Industry events ($100 000 $250 000) Group-funded educational marketing initiatives ($200 000-$750 000)
Risks and Mitigations Risk Level Mitigation Public perception failure Focus on efforts of group Medium Working towards the better of AI Customer response Low Manage within budget Costs Low
What success looks like Awareness leads to new customers/needs Identifies new needs Expand services Influence perception Positive marketing efforts Industry association efforts Broader audience Increased public perception and awareness Education to support industry
QUESTIONS ALTUM CONSULTING
Alternative 2: Cold call expansion Proven model by other tech companies Grow their leads to offset long sales cycles Rely on word of mouth to influence perception
