Nov 30, 2023
Artificial intelligence (AI) has become a household term, and its applications are revolutionizing various industries. One area where AI is making a significant impact is heavy industry, including manufacturing, energy, and utilities. In these sectors, companies often face the challenge of outdated digital infrastructure, which hampers productivity and data quality. However, the emergence of conversational AI is changing the game by streamlining processes and improving efficiency.
In this opportunity we speak with Mark Fosdike, the CEO & Co-founder of Datch, a company that specializes in conversational AI solutions for heavy industry. Mark's background in aerospace and his firsthand experience with the challenges faced by frontline workers in heavy industry inspired him to develop a solution that would revolutionize the way data is captured and processed. In our conversation, Mark shared insights into the journey of building Datch and the transformative power of conversational AI.
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Founder Bio:
Mark Fosdike, CEO of Datch, is a visionary leader in the field
of asset management and a dedicated entrepreneur. With over two
decades of industry experience, Mark has an exceptional
understanding of the challenges and opportunities in asset
management, and a proven track record of driving innovation and
growth.
Before founding Datch, Mark held several senior leadership
positions in renowned global companies, where he gained extensive
expertise in industrial operations, and technology. His passion for
delivering cutting-edge solutions led him to establish Datch, with
the aim of revolutionizing asset management through the integration
of advanced AI-driven features.
Time Stamps:
01:54 Mark’s background before creating Datch
04:14 Identifying the problem of inefficient data input in heavy
industry
06:20 How Datch uses conversational AI to speed up processes and
improve data quality
09:13 Adaptability of Datch's interface for frontline workers
10:40 Leveraging large language models for accurate speech-to-text
and prompt engineering
13:12 Customization and application to specific use cases
15:48 Approach to acquiring new customers
17:55 Typical sales cycle and stakeholders involved
19:34 Changing interest in AI solutions over time
22:59 Mark discusses the need for a consultative sales
approach
24:38 Founders' background and passion for building things
28:21 Importance of building a network and finding advisors
29:58 Getting advisors to buy in with equity and commitment
32:30 Hiring strategy and the importance of hungry generalists
34:01 Fundraising journey and challenges as a first-time
founder
37:58 Exciting things coming up in the future
38:53 How to get in contact with the Datch team
Resources
Company website: https://www.datch.io/
Twitter: https://twitter.com/datchsystems
LinkedIn: https://www.linkedin.com/company/datch/
Facebook: https://web.facebook.com/Datch.io