As I start my role as the new CEO of Ayasdi, I wanted to take moment to share what I see as a generational opportunity – that of making enterprise applications intelligent.
While I am just starting as the CEO, I have watched Ayasdi for several years now. One of Ayasdi’s board members, Karen Richardson, introduced me to Gurjeet a few years ago and we have enjoyed the opportunity to get to know each other, talk about the challenges of startup and the joys of growing a company.
In that time I have marveled at some of the achievements of what was and still is a rapidly maturing organization. The impact that Ayasdi has had in the world is reflected in the recognition the company has received from the World Economic Forum, Fast Company and virtually every AI list there is – but there are countless other breakthroughs that don’t get widespread recognition from understanding disease cycles to finding criminals – incredible work by our academic collaborators at Stanford, Mt. Sinai, UCSF, Columbia and AEI/ISW.
When Gurjeet approached me about joining Ayasdi as the CEO I was both humbled and flattered. Having built companies at different stages in my career – I didn’t necessarily see another startup in my future. Still the opportunity to put my mark on the company and work with the management team to help us scale our growth was simply too attractive.
At the heart of this opportunity is the fact that we now live in a world that is defined by data.
Gone are the days where the challenge was gathering data. Plummeting storage costs, abundant compute and ever-evolving database technologies have created a different challenge – what to do with that data and how do we really unlock hidden insights.
This challenge, broadly referred to as “big data,” has largely disappointed. The patterns that hold value are obstructed not just by size but by complexity. In the rare cases where we can extract those patterns it is often at the expense of justifiability – the algorithms we apply produce results we have to trust – without the capacity to verify.
The result is that even in our data-defined economy, our subject matter experts have become fundamentally disconnected from their data. They are forced to trade in summary statistics, powerpoint presentations and aggregated excel sheets.
Ironically, having access to lots of data has made us less data driven, not more.
There are, however, better approaches and reasons for optimism. I share that optimism and the desire to build a better approach.
Ayasdi is the global leader in the development of enterprise-grade, intelligent applications for financial services, healthcare and the public sector. Powered by breakthroughs in mathematics and computer science, the company’s software platform has already been used to solve some of the world’s most complex challenges.
The work we are doing here is purposeful, impactful and is transforming the way analytics are performed at some of the largest and most sophisticated organizations on the planet.
The team has built an incredible, mature, enterprise-grade technology stack. While the technology under the hood, Topological Data Analysis, gets much of the attention, it is the applications powered by that engine that are changing the world.
- Applications that determine the optimal way to perform surgical procedures.
- Applications that can find unknown unknowns – 15 criminals from 1.5 billion log events.
- Applications that reduce false positives in anti-money laundering by more than 25% while simultaneously reducing the bank’s risk exposure.
- Applications that can determine the likelihood and reasons for a credit upgrade or downgrade, before they happen.
- Applications that can distill complexity into simple models with complete transparency – so regulators and business leaders and subject matter experts can interact with them as opposed looking at powerpoint outputs.
My job will be to guide our growth as we continue to expand our suite of applications – targeting those value-laden use cases in our core verticals of healthcare, financial services and the public sector.
It is an incredible time for enterprise class AI.
It will solve problems that have eluded organizations for decades. It will make us more productive. It will keep us safer. It will ensure that we recover faster from illness and proactively keep us from getting ill in the first place.
There is no more exciting space to be in than AI and there is no more interesting company than Ayasdi.
I can’t wait to get started.