Turbocharging Industrial IoT with AI
Prateek Joshi (Pluto AI, an Unshackled Ventures portfolio company), Leonard Speiser (Neuron VC), Mike McDonough (VMware), Ron Bodkin (Think Big Analytics), & Don Dini (AT&T)
Thank you to the panelists and those who attended our event Tuesday night. We had more than a full house. Special thanks to Prateek Joshi, Founder of Pluto AI for moderating the panel and facilitating a great discussion.
Here are some key takeaways:
- Customer don't buy AI or IoT; these terms have been heavily stigmatized. Instead, sell solutions to a problem the customers care about.
- Enabling open standards in IoT will foster innovation, the opposite of creating closed door partnerships between big companies.
- Companies like PG&E have tremendous amounts of data, but need solutions to make that data actionable and solve real problems they are facing. Startups can help such large corporations with solutions, which make the data significantly more valuable.
- Over the next 18 months, the biggest opportunities with AI will happen where fresh thinking enters markets that Silicon Valley doesn't always understand.
- Working on large scale problems like water and power shortage invariably involves government agencies. This is not a deterrent to investors as long as you have a clear value prop.