Smartketers Podcast #5 – Lomit Patel

Smartketers Podcast #5 – Lomit Patel

by | May 17, 2021 | AI Smartketers, All, Budget Allocation, Growth, Mobile Media

Episode # 5 – Lomit Patel

Fifth episode of the Smartketers Podcast: conversations with marketers using artificial (and human) intelligence to make smarter decisions.

During this episode we talked with Lomit Patel, VP of Growth at IMVU. He is also author of the best selling book Lean AI: How Innovative Startups Use Artificial Intelligence to Grow, which is part of Eric Ries’ “The Lean Startup” series.
We talked about :

  • Machine Learning for product recommendation
  • Using AI  to spend  your media budget more efficiently
  • Running thousand of experiments to find the right audience with the right creative
  • Predicting user behavior: churn, engagement and monetization
  • The role of Education to promote technological adoption
  • AI in Startups: doing more with less
  • Building vs Buying AI 

 

Special speakers: Mariano Saenz from Winclap and Lomit Patel from IMVU

Timeline

  • 00:00 – About Lomit
  • 02:00 – Machines thinking and acting as humans
  • 03:00 – Machine Learning for product recommendation
  • 04:00 – AI for User Acquisition: how to spend  your media budget more efficiently
  • 05:00 – Right audience, right creative: running thousand of experiments with AI
  • 05:30 – Predicting user behavior: churn, engagement and monetization
  • 08:00 – Getting people excited  to use AI to become more efficient
  • 12:00 – AI in Startups  – Doing more with less
  • 13:00 – Check and Balances when working with AI
  • 16:30 – The AI mindset: being curious and open to change

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About Lomit

Prior to talking about his long accomplishments in the world of AI and startups, one must state out Lomit’s most distinctive quality: he is a really, really  nice guy.  And that is not an overstatement. He is always open to discuss new ideas and sharing his expertise in Artificial Intelligence and automation. 
He is currently  Vice President of Growth at Together Labs (formerly IMVU), responsible for user acquisition, retention and monetization. Prior to IMVU, Lomit managed growth at early stage startups including Roku (IPO), TrustedID (acquired by Equifax), Texture (acquired. by Apple) and EarthLink. He is a public speaker, author, advisor, featured in Forbes Magazine, and now in Smartketers. Although,  It goes without saying, he has been a Smartketer way before the existence of this podcast.

A pioneer in the adoption of AI in startups. Lomit advocates for the use of new technology and automation to make companies grow,  working better, faster and smarter. The key of this transformation, he states, lies in having a curious and flexible mindset. An open state of mind to always ask how anything can be done better.

“Now there is so much more data in everything that we do…It is not humanly possible to have people looking at data to surface ideas and insights, and know what to do with it.
AI is the best way to take huge subsets of data and predict what are the right actions and insights”

“The biggest blocker is always around education…
…Try to get people excited about what AI can do for them.
How it can help them becoming more efficient “

Lomit Patel
VP Growth
IMVU

“Buy as much as possible. Technology like AI rapidly changes… There is no point trying to build it when there are other companies whose core competency  IS to build it. You can learn from best practices of what is already being applied elsewhere”

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