Myko's Fun Facts: Data That Acts!

Today, let's recap our episode with Trevor Lee, the CEO of Myko.ai. The company specializes in providing AI-powered insights for sales and revenue teams. Their platform uses conversational AI to quickly analyze sales data, helping companies make better data-driven decisions. The Myko platform revolutionizes how you interact with data, making it more collaborative and providing insights to your peers in a standardized way. Your sales teams don't have to speak different languages before they agree on the data points. Myko.ai does that for them before they get on a call. 

Listen to the podcast as we explore Myko's GTM strategy and how AI enhances data analysis through faster and smarter team collaboration. Highlights from the conversation are below.

Humans vs AI expectations: Double Standard Across the Industry with the High Bar for Errors. 

Despite Lizzie's interest in self-driving technology, particularly in having tractor-trailers become autonomous, Trevor follows the developments in AI technologies and OpenAI even more closely. He finds the parallel between the expectations for self-driving cars and AI-driven products fascinating; both are expected to achieve near-perfect accuracy, even though humans often make more mistakes without AI. Users demand a high standard, usually 99% accuracy, before they're comfortable using these technologies, even though 90% accuracy would still outperform current human performance. This discrepancy is a common topic in discussions, including debates about the safety and reliability of autonomous vehicles compared to human drivers.

Early Adopters vs Late Adopters: The Difference Between Benefits Driven by Risk Assessment that Open Doors for Smaller Players. 

Many companies grapple with whether to build, buy, or partner when incorporating AI into their operations. Large enterprises are further along in strategically integrating AI, while mid-market companies often rely on individual teams to explore AI applications without a clear strategic direction. There's also a noticeable hesitation to engage with early-stage companies, as many prefer to wait for established players to release their AI products first. However, now that major players have launched their offerings, there's a renewed interest in exploring innovative solutions from startups, which presents a unique opportunity for partnerships and product development.

Demo Round: Revolutionizing Data Analysis: A Versatile Tool for Seamless Integration and Collaboration Across Platforms.

The demo showcases a versatile product available as a web app, Chrome extension, and Slack integration, designed to help users access and analyze data from various platforms like Salesforce. The interface offers features like recommended prompts, text and table data formats, downloadable CSVs, and a "validate results" button for transparency in data analysis. Additionally, the product includes a semantic layer that defines critical terms and KPIs specific to each company, ensuring consistent understanding and use of terminology. It also has a prompt library tailored to individual roles, enhancing team collaboration and data visibility, mainly through its Slack integration, where questions and data can be shared and discussed in real time within public channels.

The Users and their ROI: Deeper Insights: How Sales Teams and Leadership Use Our Tool to Drive Strategic Decisions.

The tool is being used by sales managers, leaders, and individual sales reps, though the highest ROI comes from managers and leaders who use it to make more informed decisions. Individual contributors also benefit, especially in environments with enriched data, allowing them to better prepare for sales calls by analyzing past sales and product usage. The primary benefit isn't just time savings; it's about gaining insights that wouldn't have been uncovered otherwise, leading to faster and more strategic decision-making. The real business value lies in this ability to ask and answer more profound questions.

Collaborator Facilitator: Myko Helps Facilitate Collaboration Between the RevOps and Finance teams.

The tool aims to reduce the time teams spend on manual, operational data tasks, allowing them to focus more on strategic activities and enable broader access to valuable information across the organization. This enhances collaboration between sales and revenue operations and improves the partnership between finance, marketing, and sales teams. Finance teams, in particular, are interested in gaining more visibility into Salesforce data for better planning and forecasting. As the product expands to include more integrations like data warehouses and marketing platforms, it enables a more comprehensive view of metrics from MQL to close, facilitating cross-functional insights and collaboration.

Monetizing Your New Contacts: The Solution Helps Partnerships with the New Feature to Monetize Your New Conference Contacts.

The company is partnering with large sales training organizations to develop digital literacy training modules for managers. A significant upcoming collaboration with the Partnerships Mentor Group will focus on digital sales training to help managers learn how to ask better questions and analyze sales data using AI tools. Being listed on platforms like the Salesforce marketplace has enhanced their credibility and trust among potential clients, particularly in securing data. The company aims to expand its integrations to support multiple data sources soon. It is developing features to allow users to push data back into systems directly, enhancing their tool as a true co-pilot. Additionally, they are starting to build autonomous AI agents to automate tasks and actions.

Impact on the GTM: Trevor on the AI evolution in the GTM

Trevor highlights that AI's growing capabilities—becoming more innovative, faster, and cheaper—drive its broader adoption and utility. They foresee a future where multiple specialized AI agents assist with different aspects of personal and professional life, such as personal assistance, scheduling, cooking, sales, and data management. These agents will develop memory and learn from individual users, becoming more powerful and capable of executing comprehensive, end-to-end tasks. Currently, most AI solutions, including theirs, are focused on specific tasks, but the trend is moving toward AI that can handle more complex, interconnected actions.

AI Improvements WIP: AI Applies Poor Campaigning Tactics and Has Not Yet Achieved Effective Personalization.

Trevor describes the challenges and potential of AI-generated content, particularly in emails and personalization. While there's potential for AI to improve cold emails, current AI tools often lack the nuance and personalization needed to make emails feel genuine and engaging. Many AI-generated emails need more depth, relying on superficial details, like mentioning a college attended. Myko's team suggests that true personalization still needs to be improved and that effective outreach relies more on timing and product-market fit than on overly personalized messaging. They argue that results will be limited even with perfectly crafted emails if the product doesn't resonate with the audience. Trevor believes many using AI for email campaigns were ineffective even before AI, so the quality has yet to improve.