Sorcero Podcast Series Episode 6

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.

Listen to the full episode on Apple, Amazon, and Spotify to learn more about funding artificial intelligence in 2022.

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.

You can listen to the full podcast episode on Apple, Amazon, or Spotify today.