This the sixth and final episode in the Sorcero miniseries on building great AI-powered life sciences products, a Mighty Capital podcast.
In this Sorcero miniseries, join host Sorcero CEO and Co-founder Dipanwita Das as she sits down with industry experts and business leaders to discuss how to build great AI-powered products for Life Sciences.
Sorcero Podcast Series Episode 6: Founding and Managing Partner at Rackhouse Venture Capital on Funding Artificial Intelligence in 2022
For the sixth and final episode in the Sorcero Podcast Series, CEO and co-founder Dipanwita Das speaks with Rackhouse Venture Capital Founding and Managing Partner Kevin Novak.
Kevin Novak is an experienced data leader with a demonstrated history of working in the transportation and logistics and fintech industries. He is the Founding and Managing Partner of Rackhouse Venture Capital, an early stage venture capital fund.
In this podcast, Novak and Das discuss the future of artificial intelligence (AI) in the life sciences.
In this podcast, Dipanwita Das and Kevin Novak discuss:
1. The Impact of Lagging Expertise in Life Sciences Funding
What are venture capital (VC) firms top considerations for funding an artificial intelligence company?
Demonstrating that there is a solid product-market fit is at the top of the list.
Nonetheless, there is still a major obstacle for many VCs.
They may not have AI experts on staff who can assess the technology at hand. In this fast-paced environment, there is only so much time to complete this exercise.
Novak advises that founders should find compelling ways to present their technology to non-experts. He says, “With AI, there are the fundamental questions of: What is this technology? Is it differentiated? Are their forecasts for how this product is going to evolve realistic?”
What other advice does Novak have for founders in the artificial intelligence space? Listen to the podcast to hear it all.
2. Why AI Futurecasting Should Get Investors Excited Now
Access to data is not a problem in 2022. There are many data points about any given topic.
But how can we best harness this data?
This is where AI comes in. It can take huge data sets, distill them down, and deliver accurate models of trends. This can help suggest improved behaviors and, when in the hands of industry experts, lead to better health practices.
Novak says a fundamental value proposition of AI technology now is “the ability to have more accurate forecasts further out in the future for increasingly complex scenarios.”
“For example,” he explains, “what Sorcero is working on is the ability to take increasingly diffuse, increasingly complex concepts — in Sorcero’s case embedded in the language — and distill them down to a framework that computers can understand, that human beings can understand. That distillation is very fascinating and very valuable to businesses, when you think about what that means for the future.”
3. AI and Ethics
There are rising applications of artificial intelligence across healthcare and life sciences. In these industries, it is critical to adhere to regulations and ethical considerations.
In this podcast, Novak and Das discuss the intersection of human and AI capabilities and when each should be applied.
About the Podcast
The Mighty Capital Podcast features interviews with industry experts and business leaders across technology, product and venture capital.
This Sorcero miniseries is hosted by CEO and Co-founder Dipanwita Das and centers on how to build great AI-powered products for Life Sciences.
Sorcero Podcast Series: Stay up to date
Catch up on other podcasts in this series here:
• Sorcero Podcast Series Episode 1: Daiichi Sankyo’s Head of Global MSL Excellence on Improving Data, Equity, and Tech Partnerships in Life Sciences
• Sorcero Podcast Series Episode 2: IPG Health Medical Communications COO on Data, Representation, and Putting the Patient First
• Sorcero Podcast Series Episode 3: Black Opal Ventures Founder on Building for Equity in Life Sciences Products
• Sorcero Podcast Series Episode 4: Novartis Biome Co-Founder & Global Head on Digital Health and Technology
• Sorcero Podcast Series Episode 5: Johnson & Johnson VP of US Oncology Medical Affairs on Working at the Nexus of Medical Innovation