How These Under 30 Cofounders Became AI Problem Solvers

Forbes

How the cofounders of Bounce Insights became AI problem solvers.   Want to truly know your customer? Check out Bounce Insights. The Irish startup claims its software can determine exactly where your customers are, what they’re looking to buy, and even what packaging draws their attention. How? AI-powered software, of course. Founded by Charlie Butler, Rónán Dowling-Cullen, Joshua Stafford, and Brandon Dooley, Bounce Insights is a market research firm that gathers consumer habits to help brands like Coca-Cola, Unilever, and Tesco better develop and promote products

Transcript

00:00When you were having those early conversations, deciding like okay what

00:03are the actual pain points here, what were some of those that you guys came

00:06upon that you started to innovate for? So the really big thing in the early days

00:09was speed, right? So right now the research process, if you use humans for

00:13the whole process, which most brands do, it takes about four to eight weeks to

00:16get from, I have a problem, I have an information gap, and then I now have the

00:20insight to go and act on that. For us that takes about 24 to 48 hours and that

00:24was a step two process. Like we started out, like I was saying, with Tesco and

00:28Diageo, and we were able to turn around data in kind of seven to ten days just

00:32because we had three engineers who were nerds and wanted to automate things and

00:36didn't want to take lots of time and they were like don't worry about that

00:39panel thing, you guys can deliver insight to seven to ten days, that's amazing, double

00:43down on that. And so yeah really stepping up the automation and then stepping up

00:47the AI was like the early innovation to that speed. And I think the speed is

00:51almost like the Trojan horse, like speed gets us in the door with brands but

00:54actually coming back to the idea that people are buying comfort, now there's a

00:58real drive to the quality of insight and what that isn't, that's not just like

01:02the quality of the consumers who are giving their opinion and it's actually

01:05like the first principles understanding of what is the original problem and then

01:09tying that to the inside at the end. Because I'm using a lot of analogies now

01:13but the people want a quarter-inch hole not a quarter-inch drill. So when

01:16someone comes to you with a problem they don't care how you really get you get

01:19them there. So we like 24 to 48 hours is exceptional, it's taken us years to get to

01:23that level of speed. But actually it's 24 to 48 hours too slow. People say like

01:28if you asked our clients now they would say I want to be in a meeting, get asked a

01:32question as to what should we do and be able to pull the insight from what we

01:37already know. Like there's so much research out there already, there's so

01:40much data out there already, the speed at which we can access and understand that

01:44data and then only run new research on where there is gaps. That's the way

01:48research has to go if it's going to have any chance of competing at the highest

01:53kind of decisions in these brands. Yeah and that's why there's a lot of

01:56excitement around our retrieval engine, so that kind of secondary data analysis

01:59knowledge management piece because you don't need to waste to go and gather data

02:02and wait for the turnaround for those responses. You can just mine your existing

02:06data and get an answer to a question in that meeting with that stakeholder.

02:09Right.

Category

Transcript

Recommended