Anthropic · AI Agent · Claude · Goldman Sachs · Wall Street · Fortune Technology
Why is it so hard to get ROI from AI? Because building from first principles isn’t easy
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Hello and welcome to Eye on AI.
Key facts
- The reporter also had a great discussion with Adaption Labs’ CEO Sara Hooker and SambaNova CEO Rodrigo Liang
- In a mainstage interview with Hyatt CEO Mark Hoplamazian and Snowflake CEO Sridhar Ramaswamy, both executives said they thought that software companies that have begun to try to restrict third party
- For instance, the bank has seen a 25% increase in new account openings thanks to the use of AI tools
- Manoj Bohra, the CTO at asset management firm State Street, said that part of the problem was the amount of what he called “foundation work” that companies needed to do to enable AI projects
Summary
First, the reporter want to thank Sharon Goldman for her work as their co-writer on this newsletter over the past two years. The reporter spent the first part of this week at Fortune Brainstorm Tech in Aspen, Colorado, where AI dominated every conversation, on stage and off. Manoj Bohra, the CTO at asset management firm State Street, said that part of the problem was the amount of what he called “foundation work” that companies needed to do to enable AI projects to succeed, especially in regulated industries. Having the right data in the right places with the right governance controls was a key first step.
A first principles approach is also critical for Kathy Pham, head of AI at ReviveHealth. For instance, the question of whether parents should allow AI to read bedtime stories to their children varies depending on how parents view the purpose of story time. Stephen Balaban, the cofounder and CTO of AI infrastructure firm Lambda, told the breakfast that he didn’t think AI was ready for many use cases outside of software development and that it was probably a mistake to push AI agents into other parts of a large company.