To kick-off 2020, I thought it would be fun to write an article about a question I get asked all the time, “Where did the name Foxy AI come from?”
Back when Foxy AI was just an idea bubbling in my mind, I was recommended a book called The Signal and the Noise by Nate Silver. In the book, Silver retells the ancient Greek tale of the fox and the hedgehog. The concept of the story is that “The fox knows many little things, but the hedgehog knows one big thing.” Foxes, Silver says, demonstrate predictive skill.
This was the first time I had heard this story, and the idea stuck with me. When making predictions, you want to have many small pieces of information to build the bigger picture.
Silver says it best, “Foxes, on the other hand, are scrappy creatures who believe in a plethora of little ideas and in taking a multitude of approaches toward a problem. They tend to be more tolerant of nuance, uncertainty, complexity, and dissenting opinion. If hedgehogs are hunters, always looking out for the big kill, then foxes are gatherers.”
Real estate is complex and requires an openness to new ideas. We believe in gathering many small pieces of visual information to inform the bigger picture. This idea is central to everything we do at Foxy AI and the Visual Property Intelligence category we are creating. The tools we are building extract information from property photos to streamline workflows, improve quality assurance, and generate new insights, thereby reducing cost and increasing revenue.
2020 might be the year of the rat on the Chinese calendar, but for us, 2020 is the year of the fox.