Project Gamma Podcast: Grant Schneider founder of Banco
Generative AI is transforming industries by enhancing efficiency, automating repetitive tasks, and unlocking new ways of processing information. In a recent episode of Project Gamma, Grant Schneider, founder of Banco and former Vice President of Machine Learning at Upstart Network, shared his insights on the evolution of generative AI, its impact on business processes, and how companies can strategically leverage these technologies. This article explores key takeaways from the discussion, breaking down Grant’s thoughts into organized categories for a comprehensive understanding.
Here’s what we cover:
-
-
Understanding Market Perception and AI Adoption.
- Generative AI Implementation in Business
- The Evolution of AI Model Selection
- Challenges and Opportunities in AI-Driven Business Transformation
- The Startup Landscape for Generative AI
- Banco: A Bitcoin-Based Lending Platform
- Final Thoughts on AI and Future Business Trends
-
Understanding Market Perception and AI Adoption
Short-term vs. Long-term Market Trends
Warner: The short-term market behaves like a popularity contest, while the long-term market reflects real value. How does this apply to AI adoption?
Grant Schneider: The short term, the market is something like a popularity machine, a voting machine. And in the long term, it’s a weighing machine. Over the long term, things will take care of themselves, and if you do good work, then just objectively, the company will be more valuable, and the market will have to recognize that. On any given day, it’s the whim of a million different things going on in the world, and you can’t read too much into it.
The Challenge of AI Adoption in Non-Technical Teams
Warner: What are the biggest hurdles for non-technical teams in adopting AI?
Grant Schneider: Most non-technical people know ChatGPT and that’s about it. Even terms like Anthropic or Claude don’t register. There’s a huge gap between technical experts staying close to the cutting edge and how AI is actually experienced by the average coworker. A lot of what we do is finding ways to bridge that gap.
Generative AI Implementation in Business
How Upstart Utilizes AI for Efficiency
Warner: How has AI transformed internal operations at Upstart?
Grant Schneider: Our legal team often gets questions from other parts of the business about product adjustments or compliance. Usually, an attorney knows the answer immediately but still needs to justify it with policies, regulations, and documentation. That process used to be very time-consuming, involving searches across Google Drive, email archives, and legal databases. Now, we have a GenAI-powered tool that centralizes those documents and provides quick, structured answers. It saves about 15-20 minutes per request, which really adds up across an entire legal team.
The Role of AI in Internal Business Operations
Warner: AI is often seen as a futuristic tool, but how can businesses apply it today?
Grant Schneider: AI doesn’t have to solve a brand-new problem to be valuable. It’s about making existing processes more efficient. I often tell teams to think about it like this: “If you had 100 interns, what tasks would you offload to them?” That’s a great way to find places where AI can be useful.
The Evolution of AI Model Selection
Choosing the Right AI Models for Business Use Cases
Warner: How do you decide which AI models to use?
Grant Schneider: Right now, we use Claude 3.5 the most, but that changes frequently. The key is structuring our tech so that we can swap models easily when a better option emerges. AI is advancing too fast to be locked into a single provider.
Adapting to Rapid Advancements in Generative AI
Warner: AI is evolving rapidly. How do you stay ahead?
Grant Schneider: We design everything to be modular so that when a new model surpasses what we’re using today, we can switch with minimal effort. That’s critical because models are improving at an unbelievable pace, and costs are dropping rapidly.
Banco: A Bitcoin-Based Lending Platform
Addressing Financial Inefficiencies Globally
Warner: What problem is Banco solving?
Grant Schneider: Banco is a Bitcoin-based lending platform that aims to extend financial access to underserved communities worldwide. The traditional banking system involves a lot of intermediaries, making it financially infeasible to bank certain populations. By leveraging blockchain, we can cut costs and streamline the lending process.
The Role of Blockchain in Financial Services
Warner: How does blockchain improve lending?
Grant Schneider: In many developing countries, traditional banks are inaccessible. Blockchain allows us to provide secure, decentralized lending without the need for traditional banking infrastructure. Our goal is to create a system that builds financial reputation outside of conventional credit scoring models.
Final Thoughts on AI and Future Business Trends
Advice for Professionals Looking to Adopt AI
Warner: What advice would you give to professionals looking to integrate AI into their work?
Grant Schneider: Just start experimenting. The tools are accessible, and you don’t need to be an AI engineer to find valuable use cases. Dive in, test ideas, and iterate.
The Long-Term Impact of AI on Work and Entrepreneurship
Warner: Where do you see AI’s impact in the next decade?
Grant Schneider: AI will continue to automate repetitive tasks and unlock new opportunities. The companies that embrace AI thoughtfully will see the most success. This isn’t a passing trend—it’s a fundamental shift in how we work.
Stay tuned for the next episode of Project Gamma!
Spotify: link
About Project Gamma: Project Gamma, where technology meets leadership. Hosted by Warner Moore, vCISO and Founder of Gamma Force, this podcast features insightful conversations with industry leaders who are shaping the future of tech.
