#74 Creating Value using Artificial Intelligence with Ru Mitra– Founder and Author

Rudradeb Mitra .jpg

Ru is a graduate from the University of Cambridge, UK who has built six startups in four countries. His primary interest is to build products with social Value. He is also a mentor of Google Launchpad and a senior AI advisor of EFMA Banking group. Ru has been invited to speak at over 60 events from 21 countries. His talks are about sharing his experiences on growing various startups and building products in Artificial Intelligence and Machine Learning.

In this episode, Ru tells us that he started his career in AI because he loves mathematics and solving problems. He has been making bleeding-edge applications since the early 2000s then got into startup land. Ru was always surprised by how difficult it was selling technology. He thought what he was building was more advanced and better than anything else out there. Just because you make great technology, does not mean you can sell it to a business. Some of his startups failed, so Ru has learned a lot from these many challenges. 

Ru realized that young people paid higher insurance premiums just because they do not have a more extended driving history. So why don’t they track their driving and have the insurance company calculate their premium? When they asked the insurance companies if they would like to be their customers, naturally they said no. This was a challenge that the startup faced. Their users were young drivers, so they tried to create a community of drivers who were interested in what they were building and wanted to be part of it. They had millions of drivers and collected their data. Now, the insurance companies were interested because they had the data. 

Then, Ru talks about his writing career. People from around the world started inviting him to speak at events after they read his work. He’s not a professional public speaker, nor does he want to be. The idea of doing many things is a way to find the true potential that we truly have. Our potential is way more significant than we think, the only way we will know is by trying new things. If you are comfortable, then you are not growing. Now, Ru found what he wants to do for the rest of his life. He has always been interested in the education sector. Ru believes we should contribute to this world and to those who may not be as lucky. Stay tuned to hear Ru discuss his advisory roles, meditation, and overcoming challenges with data.  

Enjoy the show!

We speak about:

  • [01:45] How Ru started in the AI space

  • [06:50] What surprised Ru about startups 

  • [10:15] Getting data first, then finding customers 

  • [15:00] Ru’s writing career  

  • [18:35] How to live a complete life

  • [20:40] What success means to Ru 

  • [31:10] Bringing to life the machine learning models   

  • [35:00] Ru’s advisory roles 

  • [39:00] OpenAI

  • [41:20] Overcoming challenges with data 

  • [44:00] Challenges with user adoption 

  • [50:00] What Ru is most proud of

  • [51:40] Advice for the audience 

Resources:

Ru’s LinkedIn: https://www.linkedin.com/in/mitrar

Ru’s Website: https://www.mitrarudradeb.com

Creating Value With Artificial Intelligence: Lessons Learned from 10 yrs of Building AI Products and Overcoming Data, Adoption, and Engineering Challenges

Quotes:

  • “I overcome challenges by learning from my failures.”

  • “Two years ago I would have never thought I would be a good public speaker.”

  • “Success cannot be defined by external factors.”

  • “I haven’t been stressed for three years, maybe more.”


Thank you to our sponsors:

UNSW Master of Data Science Online: studyonline.unsw.edu.au

Datasource Services: datasourceservices.com.au or email Will Howard on will@datasourceservices.com.au

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Rudradeb Mitra is based in Stockholm, Sweden.

And as always, we appreciate your Reviews, Follows, Likes, Shares and Ratings. Thank you so much for listening. Enjoy the show!