An Interview with Benjamin Levy, Co-Founder & General Partner, BootstrapLabs

Posted by World Summit AI on May 2, 2022 10:51:54 PM
World Summit AI
We spoke to Benjamin Levy, Co-Founder and General Partner, BootstrapLabs. Benjamin will be participating in a Panel Discussion at World Summit AI Americas taking place on 4th and 5th May 2022 at the Palais des congrès de Montréal, Canada.

Ben Levy (1)

If you could solve any global problem in the world with AI, what would it be?

I believe that entrepreneurship is the most powerful invention humanity has ever created, but that the allocation of capital to the right teams, at the right time, with the right support remains highly inefficient.

Artificial Intelligence will no doubt allow us to make this process significantly more scalable, and in doing so, allow founders and their companies to fix what is broken, improve on the status co, solve what was previously insolvable, and ultimately deliver an accelerated pace of change for good, positively impacting people, corporations, and society.

Presuming that was solved, what would your second choice be?

The above will only succeed if the people inventing the future (i.e., entrepreneurs), as well as the institutions that support them, share common positive values about ethics, equity, sustainability, diversity, human rights, and privacy. This is not something AI can solve, but something we, as humans, need to solve if we are to build the world we want for our children and their children.

What do you see as the 3 most important things for businesses in relation to AI at the moment?

BootstrapLabs started investing in Applied AI technologies nearly 7 years ago, and today Ark-Invest research predicts that AI will represent an $87 Trillion market cap value creation opportunity by 2030, however, the vast majority of fortune 500 companies have yet to deploy meaningful AI applications in their production environment. We are still in the early innings of the AI revolution, but it is accelerating exponentially.

Corporations are failing to attract the right AI talent that would allow them to capitalize on the opportunity, they are failing to adopt outside AI innovations/applications fast enough, and they are failing to recognize that consultants and dev-for-hire shops will not save the day this time around. AI is not a new channel to distribute what you already do, it is a fundamentally new way to do things and drive value. Early adopters and fast followers will harvest the majority of the gains, while laggers may never recover.
What do you see as the 3 most important things for humanity in relation to AI at the moment?
Humans always feared change, it is something deeply anchored in us since the age of times.. it is something primal because when things changed in the past, that meant our very existence was threatened. Now, the opposite is happening. If we do not change our ways, our very existence is being threatened. The question is, what change should we prioritize and agree on? And how can we affect these changes at scale.

AI, thanks to its ability to reveal patterns hard to detect at the human scale, has the potential to help humanity fix its bias by first revealing them, it can lower the cost of things and services to increase access and equity, and even provide the required skills and knowledge for an organization to continue operating and thrive in the midst of massive qualified human labor shortage.

Hollywood needs to tone down the dystopian future caused by AI and start showcasing the positive effects and possibilities offered by AI.... but drama sells better as we know.

AI is not the enemy. AI is part of the solution, but it needs to be managed property and applied for the greater good of humanity.
What are your personal goals from the event?
Sharing insights with the audience based on my experience as an entrepreneurs, investment bankers, and co-founder of the first US VC firm to exclusively invest in Applied AI startups.
What are you most excited about taking part in the WSAI series?
Thought leadership and networking!
Ben Levy (1)
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The World Summit AI team

Here is your global calendar for 2022 where you can meet your fellow World Summit AI community members:

World Summit AI Americas | 04-05 May 2022 | Montreal, Canada

World Summit AI | 12-13 October 2022 | Amsterdam, Netherlands

Topics: AI ethics, Interview, Responsible AI, AIbrains