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Each month, we gather with a diverse group of Springfield business leaders to discuss industry trends, workforce and company operations. Join us as we take a behind-the-scenes look at our business community from C-suite executives.
Springfield Business Journal Executive Editor Christine Temple discusses the technology industry with Myke Bates, CEO and co-founder of Hearo Technologies LLC, which develops remote support systems for people with disabilities; Maranda Provance, director of development at digital agency Mostly Serious LLC; Simoriah Stogner, senior manager of technology services at Jack Henry & Associates Inc., a technology provider to financial institutions.
Below is an excerpt from the beginning of the podcast.
Christine Temple: You all represent different areas of the tech industry. Can you talk about some of the advances in your field that have had the greatest impact on your work?
malanda provence: I think this can happen in all fields, but artificial intelligence is definitely the biggest and most compelling thing. People are trying to find the best way to integrate it into their workflow. We at Mostly Serious do artificial intelligence training, and we take a keen interest in companies looking for customized training for their employees and how they can best utilize it across the company.
Soft Bates: I’m a bit of a curmudgeon when it comes to artificial intelligence. I get it. GPT came along and it was the most incredible thing on earth, right? But I can’t help but be a little bothered by the oversaturation and buzzwords surrounding artificial intelligence. I feel like I’m naturally a little bit new to it, but over the past week or so when we were applying for grants, I ran an exercise. I’ve been using ChatGPT for over a year, but seeing the capabilities of customizing GPT fields, it’s so great. I feel like I’m a year late, and yes, I totally get that.
Simmeria Stogner: For my industry, we have some challenges in accelerating digital transformation. So when you think about how personal services and experiences are accelerating self-service in our industry – think about financial services providers – the more digital transformation is applied in financial fintech services and also in banking, we’re starting to see fragmentation happened. We found that each US consumer manages 20 to 30 different accounts. All of this is triggered by the digital transformation we are experiencing.
bates: How many?
moans: 20 to 30 accounts per person. So we’re talking about banking, checking, savings, investing, business management, personal account management, all these different things that can be relevant to a person. Generally speaking, I would say that the obsession with self-service drives this huge digital transformation opportunity and then creates fragmentation in our market. As a result, this fragmentation makes it more difficult for our consumers to understand the complete picture of their financial portfolios.
bates: 20 to 30 accounts blew me away.
provence: Just in terms of financial instruments?
moans: Yes. View your personal portfolio. If you manage an IRA or a 401(k) account, or if you manage stocks, all of this stuff accumulates. We have the ability to select different financial services or different providers for each segment of our portfolio.
temple: So, as we all figure out our accounts, I want to go back to artificial intelligence because it does look like what you were talking about self-service digital transformation, and artificial intelligence allows for more of that as well. People have access to more information and can do more on their own with this co-pilot type of technology. Can you talk a little bit about how you see businesses leveraging artificial intelligence and opportunities in the future?
provence: A lot of what we’re seeing with clients, and actually working on some projects with current clients, is ways to be able to use ChatGPT style communications that understand their files. We have discussed this issue with companies in the (human resources) field. Large companies have many policies, many documents, and it is difficult to have enough staff to manage employee support calls and provide customized services. A ChatGPT style bot knows their policies, knows their HR files, and people can probably start there. Again, it comes back to the desire for self-service.
temple: So, essentially the AI robot will only learn from the specific information you feed it, so you can ask, how many sick days do I have in my second year on the job?
provence: Right, that is it.
provence: And then on the customer-facing side, we’re working with some tourism boards who want to give people a tool to be able to plan their trip in the area that they’re promoting, so that we can provide them with information specifically for that visit board Log files on the website and allow people to get better responses than accessing ChatGPT directly or even just using web browsing. It then also helps the business bring that person back to the resources on their website and potential businesses they promote and transact with.
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