Ravi, welcome.
Thanks for having me.
Tell me how Lightspeed is adapting to GenAI.
Well, GenAI
Is one of the biggest technology trends really to hit the
industry in probably 20 years since the advent of the Internet
when it went consumer with the web browser.
So we've taken a pretty holistic approach.
We're advising all our companies that were pre-ChatGPT to think
about what their
GenAI strategy needs to be.
And obviously for companies that have started post-ChatGPT,
they're being very imaginative about all parts of the economy
where there's opportunities to use that technology to really
change, you know, change how business is done.
Where do you see the most potential for disruption from
this new technology?
And I suppose what excites you the most?
Yeah, well, ChatGPT really was the coming out party, but it has
allowed artificial intelligence in computers for the first time
to have basic human reasoning skills.
And what that means is that knowledge work for the first
time can be done by computers.
So we're thinking about again, different parts of companies,
call centers, the sales and marketing department, in fact
also on the on the product side, anything to do with software
development.
These are all areas in any company, in any industry,
whether it's old or new, where there needs to be a rethink of
how computers and technology can be used.
And of course on the other side, you know, one of the exciting
things for Lightspeed where we invest is in de novo industries
that technology can enable.
And with AI it's incredible.
We've backed companies that allow people to create their own
music within AI or to create their own videos.
So whole new industries we think are going to come into existence
as a result of this and we're we're thinking both broadly
horizontally as well as you know in terms of new industries and
also vertically across company where about places and there are
many.
What are you looking for in a standout tech company?
A standout tech company has had the same general core
ingredients for a long time and even with AI they haven't
changed.
It's usually about people who are extraordinarily visionary
and and very determined to see a new idea that they have be born
into the world and then take flight.
So we continue to look for people like that.
They tend to have a deeper background or training and
artificial intelligence.
But we're looking for people, we're looking for large markets
that they were pointing their ideas at.
And then we're looking for places where Lightspeed
understands enough that we can be, you know, a strong really
lead investing partner to them on the journey.
Ravi, thank you so much.
Thanks a lot for having me, Georgie.