Service activities account for more than 80 percent of the GDP, and more than half of those activities include what’s known as “knowledge work.” Knowledge workers are workers like physicians, lawyers and academics, whose jobs involve reasoning through problems alone and with others, and drawing conclusions from available data. For instance, when you go to a doctor’s office, she’ll ask you questions and take notes on your answers, then compile that data into a readable report. This is considered knowledge work.
With his Dallas-based AI business Yseop (pronounced easy-op) CEO John Rauscher has automated knowledge work. Rauscher says the Yseop software, called Compose, can evaluate content to gather information and express a written conclusion, just like knowledge workers do.
Yseop’s software can churn out 2,000 written pages per second — a staggering rate compared to a human worker’s. Rauscher says the content Compose generates reads smoothly, like natural language a human might have written. But he’s quick to point out this isn’t creative work.
“We don’t do creative work, that’s something only human beings can do as of today,” Rauscher says. “But we are able to automate repetitive tasks for knowledge workers.”
Businesses use the software to generate a wide range of reports — from financial reports, to marketing campaign analyses, to customer relations materials. The Compose software can generate a written executive summary in seconds, after it has pulled necessary numerical and statistical data on its own. The framework is capable of supporting more than 4,000 different metrics, depending a specific business’ needs, and can filter out any irrelevant data.
Yseop has a large international client list, including L’Oreal, Verizon and Grainger. Its largest customer, based in Europe, has 17,000 people using the Compose software on a daily basis. By using Compose instead of outsourcing these analyses, companies can save money and keep their data secure inside their own firewalls.
Rauscher says the number-one problem large businesses have today is that mergers and acquisitions result in ever-growing companies. Where, 20 years ago, salespeople may have had 10 products to familiarize themselves with, they’re likely to have 10 or 20 times more products in their catalog now, thanks to company growth and product acquisitions.
“That means it’s very complex for salespeople, for people doing customer service, for people doing technical service, for everybody talking to a customer, to be able to be knowledgeable to each customer,” Rauscher says.
In that case, Yseop becomes a virtual assistant for anyone who wants to know about a company’s products. The information software provides accurate information salespeople can access from their mobile devices or computers while on a sales call, so they can provide customers the best possible information.
In other industries, automated reporting frees up professionals to dive into the results. For an attorney, that means extra time crafting arguments based on the data Compose has interpreted; for a doctor, it’s more time working directly with patients to understand and improve their health.
“The people who use the software say it’s a pleasure, because all of their writing work is done by the software,” Rauscher says. “People using our technology love us.”
Rauscher points to one example where a company began using Yseop and experienced a 15 percent increase in sales overnight.
“Being more productive means you can provide more services to your customers, things that you did not do before,” Rauscher says. “So you’re going to create more demand for your services, and that will be profitable.”
Yseop currently supports five languages: English, French, Spanish, German and Japanese. It’s been a big step for the company to break into Asian languages, but global reach has always been high on Rauscher’s list of goals.
Rauscher isn’t concerned about AI resulting in job loss, even with computers outpacing humans at tasks like writing. He points out that we worried about job loss when accounting software was developed 30 years ago, but accountants are still as in-demand as ever.
“Before accounting was adding numbers,” he says. “Now that’s done by the software and we ask more interesting things, we get analytics to understand our numbers.”
The only risk Rauscher sees in regards to AI is the companies that wait may lose out in the end.
“The growth is so fast that innovative people will take the lead,” Rauscher says. “If you don’t care and don’t join in, then you may put your company in jeopardy.”
#TexasCEO's 10 Most Read Articles Of 2017 #2 The Changing Of The Guard: San Antonio’s #Economic #Development Future texasceomagazine.com/features… @SanAntonioEDF #1 Deep Roots In The Heart Of #Texas: The Kaspar Family’s #Holistic Approach To #Ranching texasceomagazine.com/features…
#TexasCEO's 10 Most Read Articles Of 2017 #4 @Jim_nyquist: At The Inflection Point Of #IIoT texasceomagazine.com/features… #3 Building #Innovation: @turner_talk Builds On Empowering Individuals texasceomagazine.com/features… @Turner_DAL @TurnerSouthTX #MiddleMarket #entrepreneurs
#TexasCEO's 10 Most Read Articles Of 2017 #6 The Cilantro Diaries: #Business Lessons From The Most Unlikely Places texasceomagazine.com/book-rev… @lgomez123 #5 From #Franchisee To #Franchisor: How Gordon Logan Built @SportClips texasceomagazine.com/features… #MiddleMarket #entrepreneurs
#TexasCEO's 10 Most Read Articles Of 2017 #8 #Mexico Is The New #China by @DrPippaM texasceomagazine.com/departme… #7 Growing The Next Generation Of Texas #CEOs: #CEO-to-CEO #Mentoring texasceomagazine.com/features… #Texas #MiddleMarket #business #entrepreneurs
#TexasCEO's 10 Most Read Articles Of 2017 #10 7 Top Trends That Will Shape #Texas In The Coming Decade by @KenGronbach texasceomagazine.com/departme… #9 Peter Huff Of @BlueSageCapital: A Generalist In The Specialized World Of #PrivateEquity texasceomagazine.com/features… #Texas #MiddleMarket