Intercom's $100M AI Pivot Shows the Path to Survival
How startups can win by embracing an AI-first mindset.
When something like this happens, it’s like an extinction moment. It’s like a meteorite hits to your industry and some will survive, but not all.
Des Traynor, Intercom's Chief Strategy Officer
This isn't some distant future threat.
The AI meteorite isn't hurtling towards us; it's already crashed into the business world, leaving tremors in every industry.
Ignoring it? You might go extinct.
I recently watched Intercom's "Offscript" series on X, and it's less a wake-up call and more a fire alarm for all businesses out there 🚒
Episode 1: Reflections on the arrival of AI
Des Traynor, Intercom's Chief Strategy Officer, discusses the generative AI revolution sweeping through startups and the tech world, with implications for all of society.
Episode 2: Into the future with AI-first Customer Service
Paul Adam, Intercom's Chief Product Officer, talks about how Intercom's new AI customer support agent, Finn, handles 70% of inbound support requests with customer satisfaction on par with human agents. 😲
Catch future "Offscript" episodes here.
Intercom Doubles Down on AI with $100M Bet
Intercom plans to use the funding to develop new AI-powered products and services for its customer communication platform.
Here is the CEO & Founder of Intercom Eoghan McCabe outlining their plan for an extra $100m investment in AI - read the full post and email he sent the company here
My Takeaways
The rise of AI demands a fundamental shift in thinking. No longer can companies afford to treat AI as a mere afterthought or bolt-on.
AI-First mindset:
The tech world once buzzed with the mantra of "mobile-first." Companies that ignored this shift and tried to force desktop experiences onto mobile devices ultimately floundered.
“It’s not about sprinkling some AI on top of your existing setup – it’s about embracing a whole new system”
Rather than simply adding AI tools to existing processes, startups should adopt an AI-first approach. This involves rethinking and redesigning business services workflows to prioritise AI from the outset, ensuring that AI systems handle initial customer interactions.
Problem over tech:
Fifty years ago, people on their commutes buried their heads in newspapers. Today, they do the same with their phones. The underlying "job to be done" remains the same: staving off boredom during the commute.
Don't get hung up on the specific technology you currently use. Instead, focus on the problem your product solves and how AI can make it better, faster, cheaper, or more accessible.
Ditch the Old:
If AI can handle a task better than your current approach, it’s time to let the old ways go. Moving to AI isn’t just about keeping up with technology—it’s about being smart and efficient in how you grow your business.Experiment Fearlessly:
Don't just dip your toes – jump in! Start small, but dream big. AI is the canvas for your next breakthrough.
Human Touch 2.0:
AI is not going to take away all customer service jobs. Instead, it will change the nature of the job. Human agents will still be needed to handle complex issues and provide empathy and support to customers.
OpenAI’s Latest Update to ChatGPT
Yesterday, OpenAI launched GPT-4o, an improved version of GPT-4.
GPT-4o can "see," "hear," and "speak," allowing it to interact naturally with the world. It can create 3D images, differentiate between speakers, and much more.
While it's more of a small upgrade rather than a big leap forward (like what's expected with GPT-5), it's still exciting news.
The best part? GPT-4o will be available to everyone, not just paying users, making advanced AI more accessible to all.
Check out this mind-blowing OpenAI demo where two AIs talk and sing together!
Movie Recommendation
The integration of AI into human systems will make it a common presence in our lives, acting as a coworker, friend, and more, with profound but not yet fully understood implications.
For a glimpse into the future of AI, consider watching the film "Her" Paul mentions it in his video as an example of the emotional journey and connections that AI is moving towards.
My Two Cents
Stop thinking about AI as a future threat.
It's your present-day opportunity. If you're not leading the charge, you're risking becoming the next victim of AI’s mass extinction event.
So, there you have it!
P.S. Remember, in the age of AI, the dinosaurs didn't die because they were dumb; they died because they couldn't adapt.
Don't be a dinosaur 🦖