Who’s Building the Copilot for VCs?
A few months ago, I started to hash out some thoughts and draft up some wireframes for a blog post about a “Copilot for Office Workers” product idea. With everything that’s been happening in AI in the last few months, that feels like a very long time ago. :-) I had totally forgotten about the draft, but it just occurred to me again, so I’m returning to it now.
In the span of these few months, we’ve seen various startups going after different “Copilot for X” opportunities, and both Microsoft and Google have announced that AI assistants are going to become an integral part of Outlook/GMail, Word/Docs, Excel/Sheets, and Powerpoint/Slides. So what I’m about to write might be a bit rusty, but I will share it anyway.
If you think about how we use computers, a hefty chunk of our time is spent moving data around, hunting down information, and doing other stuff that doesn’t really need a human brain. All of this will eventually be done by computers.
The first attempt to solve this problem was Robotic Process Automation (RPA). But systems like Uipath are expensive and typically require consultants to set up and maintain. It’s clear that there’s an opportunity for a fresher, leaner solution that leverages the recent advancements in AI and caters to the needs of today’s office workers.
Imagine you’ve got an app on your computer that watches your actions, and based on what it sees and learns about your workflow, it suggests tasks it can take off your hands.
A few examples, just thinking about my own job:
“Looks like you’ve whipped up a note for John Miller. Want me to find his contact in Attio and stick your note there?”
“I see you’ve had a meeting with the founders of Acme. Here’s a summary from the meeting transcript. Fancy me adding it to Acme’s ticket on Zendesk?”
“Your call with NewCo’s founder is up next. Should I pull up your recent emails and docs about NewCo and serve you a summary of NewCo’s Zendesk ticket?”
“Sarah seems to want an intro to folks who are into quantum computing. Here’s a list of the most relevant contacts from your network.”
I’ve tried to brainstorm a few more ideas in this sketchy, low-fi wireframe:
My sense is that all of this is possible with today’s technology. You would, of course, have to give your copilot access to a huge amount of data across all of your applications (email, calendar, CRM, etc.), so there are serious security and privacy issues that need to be addressed.
I’ve gone with “Copilot for VCs” for this little thought experiment, just because that’s the job I know. There are, of course, many other, much larger and much more interesting segments in the knowledge worker or office worker market.
So … who is building the Copilot for VCs, or other office worker segments? Microsoft and Google will want to own it, obviously, but since their products need to work for hundreds of millions of people across all kinds of industries, there might be a chance to go after a vertical or other parts of the argument and win with a specialized, superior product. DM open. 🙂
PS: I’ve asked ChatGPT (using GPT-4) what it thinks about the idea. It didn’t apply for the job but had this to say:
Technical Feasibility:
From a technical standpoint, creating a “Copilot for VCs” seems plausible given the state of AI technology as of my knowledge cutoff in 2021. It would require the integration of several AI technologies, such as natural language processing (NLP) to understand and generate text, machine learning (ML) to learn from user actions and preferences, and automation to perform tasks.
AI personal assistants such as Google Assistant, Alexa, and Siri already perform some of these functions, and software like Zapier and IFTTT automate tasks across different applications. However, developing an AI that can understand context, learn from a user’s actions, and suggest tasks in a highly specialized field like venture capitalism would be an ambitious project.
The security and privacy concerns mentioned are real. Any such system would need to be highly secure and offer strong privacy protections to its users, especially because it would be handling potentially sensitive business information.
Business Opportunity:
In terms of business opportunity, there’s a clear value proposition: saving time and increasing productivity for VCs, or other office workers, who have to manage a plethora of tasks and data daily. The potential market is large, as it could include not just VCs but also professionals in other sectors who manage complex workflows and data sets.
However, there are also significant challenges.
1. Competition: As mentioned, tech giants like Google and Microsoft are already investing heavily in AI personal assistants. There’s also competition from startups in the AI and productivity space. To compete, a “Copilot for VCs” would need to offer significant advantages over these existing solutions.
2. Trust: For such a system to be useful, users would need to trust it with a large amount of sensitive data. Building that trust would be a significant challenge, especially given ongoing concerns about data privacy and security.
3. Adoption: Changing habits is hard. Even if the technology is powerful, convincing people to adopt a new way of working may be difficult. The system would need to be easy to use and integrate seamlessly with existing workflows.
4. Customization: Different users have different workflows and preferences. A system that works well for one person might not work as well for another. A successful system would need to be highly customizable to individual users’ needs.
In conclusion, while the idea is technically feasible and offers a clear value proposition, it also presents significant challenges that would need to be overcome to make it a successful business. The opportunity for niche, industry-specific AI assistants is there, but it would require careful execution and attention to user needs, privacy, and security.
