Industry Insights: Dialpad

Dialpad Founder & CEO Craig Walker shares with Nasdaq Head of New Listings Jack Cassel how Dialpad is using AI to further its mission in transforming the way the world works together.

Transcript:

Jack Cassel: Hello everyone, and welcome to another episode of Industry Insights. Coming to you live from the Nasdaq MarketSite here in Times Square. I'm your host, Jack Cassel, and joining us today is the founder, CEO of Dialpad, Craig Walker. Craig, thanks so much for coming on.

Craig Walker: Hey, thanks for having me on.

Jack Cassel: So kicking off, AI has had a lot of buzz around it and it's really becoming the most innovative and really area of growth. Tell us a little bit about your view on how AI is going to roll through to the enterprises.

Craig Walker: Yeah, So I mean, this is the biggest opportunity there has been since, I don't know, since the launch of the internet, right? So it is going to affect every single business and in fact, how they sell, how they support products, how they hire and retain employees, it's going to affect everything. And it's you know, our view is it's going to make every business that adopts it properly.

Craig Walker: A better business can make it more profitable, make it more successful, and we're just excited to see them build out now.

Jack Cassel: Craig, most people's first exposure to AI has been through the popularity of chat bots, like a chat GPT, however, dial pad AI and other platforms and programs go much further beyond just a chat bot. So how does AI create better experiences for both companies and clients?

Craig Walker: Yeah, so, the way Dialpad views the AI world is we provide CommuniCare, a collaboration platform that provides meetings, video conferencing, contact center, sales center. And that AI, we have a real time AI engine that analyzes all those conversations with customers with prospects, with candidates, and then we learn from that. And we have a generative model that then will give a sales rep the next question asked or how to handle an objection or a support rep, the right answer to give at the right time.

Craig Walker: So it's much more than just a chat bot giving you an answer. It's really empowering. Sales support recruiting to be much better at the real time interaction and then after the fact training and learning from that as well.

Jack Cassel:Okay, and what are some of the safety or even security risks that you see with AI and how can companies mitigate those risk?

Craig Walker: Yeah, so I mean, you mentioned chat GPT earlier. There were some concerns of people sending their proprietary data to a third party that's going to then go analyze it and give you an answer. Having that data leave an enterprise to go get analyzed by someone and then send it back and answer, that does create some concerns.

Craig Walker: And the other questions were, “What are these third parties going to do with that data besides just give you the answer you're asking for?” So our approach is build it all internally into a Dialpad GPT. It never leaves Dialpad, it's all with one provider, it's secure, it's encrypted, it's everything, and you don't have those concerns. What would someone else be doing with your data?

Jack Cassel: Okay, and so with that, we're seeing a lot of not only headlines around this, but the evolution of this technology moving quickly. And in addition to the rest, there's obviously the attributes.

Jack Cassel: What's maybe some advice you'd have for AI developers or users, not just at the solution level, but across all industries?

Craig Walker: You know, I'd say for anyone who's running a large enterprise or thinking of how to use this to make their business better. You don't have the luxury of waiting. You don't get to I mean, this is one of those technologies that's moving so fast. Your competitors are using it. They're going to run a better business.

Craig Walker: It's not like other technological advances where you can sit back and wait and see how it evolves. Everyone has to get into it now and really understand it to make their businesses better because you will fall behind. And so this is really a unique opportunity for every I.T. department to move forward because your competitors are going to do it if you don't.

Jack Cassel: And maybe further to that, how do you think about the evolution of AI and really how that, again, applies across all industries now?

Craig Walker: Yeah, I think there's going to be two types of companies in the world, ones that use AI to get smarter about their business and ones that do everything the old fashioned way and don't. And they're going to be the ones that fall behind and end up losing to the other. So I think you're going to get much more industry specific.

Craig Walker: You're going to get much more role specific, like my recruiter is going to have an AI engine prompting one what to say and what to ask during a interview. My seller will have different prompts and things that are supporting a lot of different problems and different things, but that's going to go from just role specific down to industry specific, and it's just going to get better and better because we're in the first inning here.

Jack Cassel: So question for you, Craig. What are you most excited about, about the potential of A I.

Craig Walker: Think that I'm most excited about, particularly the business world is the ability to make someone smarter in the moment. So if I'm on a call and I don't know the answer, and the AI can respond and make me intelligent and give me the right answer that is radically exciting and makes me seem like a much more intelligent seller, a much more intelligent support person.

Craig Walker: And that's what's starting to happen, and so that gets me really excited.

Jack Cassel: This has been a very helpful and educational conversation and congrats again to you and the Dialpad team on all your continued success.

Craig Walker: Awesome, thank you very much for having me.