"Owl Insights: AI in Business" featuring Jay Lewis, Founder of MarginalX, hosted by Timothy Lipton of Momentum Finance, covers Jay Lewis's extensive experience in engineering and his transition to AI consulting. He shares insights on the adoption of AI technologies, the challenges faced by startups, and the potential of AI tools to enhance productivity and innovation in various industries.

Guest Background

- Jay Lewis: Engineer / AI expert

– https://www.linkedin.com/in/jaylewis/

- Founder of MarginalX consultancy

– https://www.marginalx.com/IdealFrontiers/

Key Topics Discussed

1. Background of Jay Lewis:

- Started in the Air Force working on computers

- Obtained an engineering degree

- Worked in aircraft electronics, medical devices, and spacecraft engineering

- Transitioned to consulting, focusing on AI

1. Engineering experiences and lessons:

- Learned the importance of safety and reputation in aircraft electronics

- Gained insights into high-volume manufacturing in medical devices

- Worked on successful startup projects in the power industry

- Developed expertise in spacecraft engineering

1. AI consulting focus:

- Views AI as a tool similar to the transition from overhead slides to PowerPoint

- Teaches startups how to adopt AI technologies

- Emphasizes the importance of cross-checking AI outputs and understanding their limitations

1. Key lessons from AI consulting:

- Many people find AI daunting at first but discover it's empowering and fun

- There are concerns about data privacy and security when using AI (e.g., HIPAA compliance)

- Copyright and ownership issues arise with AI-generated content

1. Favorite AI tools:

- Perplexity AI for search and information gathering

- Dream Studio for image generation

- Co-pilot for voice-based AI interactions

1. Advice for startups and founders:

- Focus on hard tech or deep tech projects

- Balance expectations when seeking funding, allowing room for iterations

- Understand that the first attempt may not always succeed, but learning from failures is crucial