Promoting Opportunities in AI Industry: Analysis & Recommendations
Explore how the industry can effectively promote AI opportunities while addressing concerns with insightful analysis, recommendations, and risk mitigation strategies. Discover the strengths, weaknesses, opportunities, and threats for a company in the AI sector. Gain valuable insights on industry challenges and how to navigate them successfully.
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Presentation Transcript
ELEMENT AI TECHNOLOGICAL UNIVERSITY DUBLIN S J M P CONSULTANCY
DEAN MURPHY JANE MAHER GRAEME PHELAN SARAHJANE MCGUIGAN MEET THE TEAM
Q1 How do we as an industry & a company promote the opportunities created by AI yet address the perceived downsides? Q2 What are the risks associated with that and what are the risks if we don t address it? ANALYSIS
PEST Political Economical Social Technology People AI pace of adoption increasing Long sales cycle concerned that AI will be smarter then them Concerns amongst B2C customers Companies reluctant to invest LG adopting all- in products Trust and transparency issue for B2B and B2C $350M Series C funding Concern amongst B2B customers over IP Element control performance by being full stack Investors include LG and Fidelity Broader ethics issue. ANALYSIS RECOMMENDATION IMPLEMENTATION RISKS & MITIGATION
STRENGTHS WEAKNESSES 1. Founder has had 2 successful exits. 2. Technology is built by them, they have ownership 3. They are full stack 4. They are preforming well. 1. Young company. 2. Ethics in the industry 3. In its infancy 4. Consequences of the technology unknown OPPORTUNITIES THREATS 1. Tapping in to new markets. 2. Tell their own story. 3. Educate potential markets on the industry 4. Work with competitors on legislation 1. Dangers of the unknown 2. Long sales cycle. 3. Ability to expand to their full potential is a concern and could be damaging in the long term. ANALYSIS RECOMMENDATION IMPLEMENTATION RISKS & MITIGATION
Q1 How do we as an industry & a company promote the opportunities created by AI yet address the perceived downsides? Q2 What are the risks associated with that and what are the risks if we don t address it? RECOMMENDATION
RECOMMENDATION ONE 1. PROMOTING THE COMPANY & 2. PROMOTING THE INDUSTRY 1. Rationale Features Benefits KPIs LG senior technical managers are engaged LG are trusted brand Slow sales cycle addresses Sales cycle reduces to 6 months LG are also an investor Quicker onboarding LG as an investor have a stake Increased part of enterprise advocates LG are Builds pool of future enterprise incorporating AI in all products ANALYSIS RECOMMENDATION IMPLEMENTATION RISKS & MITIGATION
IMPLEMENTATION ONE PHASE ONE Collate lot of prospects in sales pipeline Prioritize low hanging fruit Enlist LG Senior Tech Invite prospects to testimonials Follow up Analyze results of campaign ANALYSIS RECOMMENDATION IMPLEMENTATION RISKS & MITIGATION
IMPLEMENTATION ONE PHASE TWO Further follow up engage legal Reprioritize pipeline list Engage LG to initiate contact Review signed customers and design. ANALYSIS RECOMMENDATION IMPLEMENTATION RISKS & MITIGATION
RECOMMENDATION ONE 1. PROMOTING THE COMPANY & 2. PROMOTING THE INDUSTRY Rationale Features Benefits 2. Public see the independent body as credible Wider public needs education Independent funded by a pool of different AI companies to educate public. The public need to be educated Legislators convinced ANALYSIS RECOMMENDATION IMPLEMENTATION RISKS & MITIGATION
Risk Likelihood Impact Contingency LG don t cooperate 1 2 Engage other partners Industry doesn t cooperate on education 1 1 Set up with current partners RISKS & CONTINGENCY
PORTERS VALUE CHAIN MARKETING & SALES TECH DEVELOPMENTS PROCUREMENT IMPORTANCE HR FIRM INFRASTRUCTURE SERVICES OPERATIONS LOGISTICS LEVEL OF STRENGTH ANALYSIS RECOMMENDATION IMPLEMENTATION RISKS & MITIGATION
KEY INSIGHTS BASED ON PORTERS VALUE CHAIN CHALLENGE INTERNAL ANALYSIS Mainly engineering team Many tech companies suffer the same issue BUYERS Moving start up start up to scale up CONSUMERS Compliment team with marketing and sales to deliver strategy TARGET AUDIENCE ANALYSIS RECOMMENDATION IMPLEMENTATION RISKS & MITIGATION
Q3 Who do you think is our target audience? RECOMMENDATION
RECOMMENDATION TWO Big picture solve: SALES CYCLE How: understanding target market PHASE 1 CREATING THE RIGHT TEAM WITH THE RIGHT SKILLS PHASE 2 IMPLEMENTING STRUCTURES SALES CRITERIA PHASE 3 UNSING CONSUMER INSIGHTS AND MAPPING TARGET AUDIENCE ANALYSIS RECOMMENDATION IMPLEMENTATION RISKS & MITIGATION
Q3 Who do you think is our target audience? RISKS & MITIGATION
IMPLEMENTATION PHASE ONE REVENUE SALES CUSTOMER SUCCESS MARKETING Consultative Demand & growth Adaption Enterprise solutions Data Onboarding SAAS background PR Recognizing value Multi Year Deal Communications ANALYSIS RECOMMENDATION IMPLEMENTATION RISKS & MITIGATION
IMPLEMENTATION PHASE TWO IMPLEMENTING THE RIGHT PROCESS IMPLEMENTING THE RIGHT PROCESS RECOMMEND VALUE Simple 10 stage sales process 1 opportunity creation 10 closed Identify the sales methodology to use 1. Price 2. Value 3. Challenger sale IMPORTANT MILESTONES ALONG THE WAY -TRIAL / REFERRAL -VALUE ACCEPTANCE -NEGOTIATION ANALYSIS RECOMMENDATION IMPLEMENTATION RISKS & MITIGATION
IMPLEMENTATION PHASE THREE IMPLEMENTING THE RIGHT PROCESS COMPLEX SALE ONCE YOU HAVE A BETTER TEAM AND PROCESS WE CAN BEGIN CREATING CUSTOMER PROFILE INTERNAL STAKEHOLDER MAPPING FINANCE LEGAL IT CTO ANALYSIS RECOMMENDATION IMPLEMENTATION RISKS & MITIGATION
IMPLEMENTATION PHASE FOUR CTO = INTERNAL BUYER WHO IS OUR EXTERNAL AUDIENCE? NOW WE BUILD TOP ACCOUNT LIST TARGETED CAMPAIGNS Industries facing disruption Fintech / Pharma Then informs marketing strategy ANALYSIS RECOMMENDATION IMPLEMENTATION RISKS & MITIGATION
Q.4 Who are our natural and unnatural partners in creating this change Q4 Who are our natural or unnatural partners in creating this change? Who What Why Natural Clients Competitors Universities Case studies Testimonials Education Podcasts Giving back Clients reach consumers Strength in numbers Educate the next generation Unnatural Media Reduce fear through education Mass reach RECOMMENDATION
Financial projections Equity Profit needed for ROI in 5 years Profit needed for ROI in 2 years 250000000 50000000 125000000 Base Best Worst Revenue 130000000 180000000 80000000 Marketing -13000000 -18000000 -8000000 R and D -30000000 -30000000 -30000000 Operational costs -14000000 -14000000 -14000000 Salaries -27000000 -27000000 -27000000 Operating Profit 46000000 91000000 1000000
Financial projections 2020 2021 2022 Revenue Marketing R and D Operational costs Salaries Operating Profit 130000000 -13000000 -30000000 -14000000 -27000000 46000000 390000000 -39000000 -45000000 -15400000 -37500000 253100000 1170000000 -175500000 -90000000 -16940000 -42000000 845560000 Operating Profit 900000000 800000000 700000000 600000000 500000000 400000000 300000000 200000000 100000000 0 1 2 3
Q1 How do we as an industry & a company promote the opportunities created by AI yet address the perceived downsides? Q2 What are the risks associated with that and what are the risks if we don t address it? Q3 Who do you think is our target audience? Q4 Who are our natural or unnatural partners in creating this change? IN CONCLUSION
THANK YOU TECHNOLOGICAL UNIVERSITY DUBLIN S J M P CONSULTANCY
