[Title Name: Announcer.]
[Title Name: Mike Murchison - CEO, Ada Support Inc.]
[Music plays.]
[CIBC logo. CIBC Innovation Banking - Innovation Economy: ADA. Toronto, ON.]
[Mike and David sit on a couch, with their laptops and talk.]
[An award is shown indicating: “Next Big things in Tech/ 2023”.]
[A booklet is shown on a table titled: “ada”.]
>> Announcer: Mike and his business partner David, have built a company that specializes in
customer service using AI technology.
[Mike warms up before a run, then runs through the streets of Toronto.]
As an avid runner, Mike recognizes the importance of energy management in running and building a business.
[A welcome sign is shown and then the giant CIBC logo outside of the CIBC building.]
This is the Innovation Economy series, presented by CIBC Innovation Banking.
[RUNNING YOUR OWN RACE.]
[Mike sits in his office and speaks to the camera.]
>> Mike Murchison: Hey I'm Mike. I'm the CEO and co-founder of Ada.
[A computer laptop that shows a split screen into four different sections. The screen focuses on a conversation chat, where a person is asking about transferring money from their checking account to their savings.]
>> Announcer: Ada is an AI customer service automation platform that enables scaling support without expanding human resources.
[A number of scenes are shown: a group of people work in an office space; a woman writes on a white board.]
>> Mike Murchison: The average person in North America will waste 40 days of their lives waiting on hold, and that's a huge motivator behind the work we do at Ada, because that is a shocking waste of time.
[An aerial view of a city scape.]
[An open laptop is shown with the screen split into four different screens that show a number of different people. To the right there is a chat area, titled: A Virtual concierge. A person is awaiting an answer to a question they have posed. The answer is then provided.]
David and I were performing customer service as agents ourselves for almost a year.
It was a very gradual process through which we went from simply serving as agents ourselves, as members of these teams, to augmenting ourselves with software that made our lives more productive, to actually deploying fully autonomous AI systems that our fellow colleagues thought were us.
[A number of scenes are shown: A group of people type on their laptops; a number of people sit at desks and review information on their laptops and speak on their headsets; a man talks on his headset.]
Every year around the world, globally, businesses will invest $500 billion in human customer service agent labour.
[A woman speaks into her headset. To the right the following is shown: $500B Globally in Human Customer Service Labour.]
[ A woman types on her laptop.]
If you can make it easier for businesses to offer a great experience at scale with their customers for way less money, they're going to talk to their customers more.
[A number of scenes are shown: a woman stands in front of a white board and explains information to Mike; an open laptop shows a split screen into four with different people in each section and to the right is a Virtual Concierge box, showing an ongoing chat.]
I think the net effect of that is that you and I are going to go from having this really terrible customer service experience where we wait on hold a long time to an experience where businesses actually want to engage with you, and they're very motivated to give you an incredible experience.
[A number of scenes are shown: the large CIBC logo in front of the CIBC building is shown; Mike walks with another man holding coffee and chatting together.]
I think from the early days of us working together, CIBC has been an important
capital partner to Ada. CIBC understands ADA’s vision, and they've been an important advisory partner to Ada.
[Mike jogs through the streets of Toronto.]
One of the reasons I love running is I continue to find new parallels between running and building Ada. I used to run in a way where I would literally sprint up the hills, and then I went from running marathons to running ultramarathons, and it turns out that sprinting up a hill when there are a lot of them is not a sustainable strategy.
[A number of scenes are shown: a woman writes on a white board and talks with Mike; Mike and David talk together on a couch; Mike walks with another man holding coffee and chatting together.]
And so, I've learned a lot about my relationship with my own energy as we pursue a very ambitious vision and fundamentally changing the nature between how a business communicates with its customers at scale.
Now, I operate in a way where I'm not always sprinting up those hills.
[A tablet is open and shows Mike jogging. A mobile phone is also shown with the CIBC Innovation Banking website indicated. At the top are the following titles: Home; Our Approach; Unicorn Fuel; Team; Portfolio; Insights; Contacts. Insights is highlighted, Which takes the user to the Insights webpage. Below this are two chess pieces and below is an article titled: Designed for curious minds. The webpage is titled at the bottom: CIBC Innovation Banking Videos. The tablet changes to show a man golfing.]
>> Announcer: Be sure to catch every episode of our Innovation Economy series.
[cibc.com/innovationBanking.]
[The user is taken to CIBC Innovation Banking webpage as described above. This time, Home is highlighted and shows a paragraph titled: “You’re not the average business. We’re not your average bank.” To the right is an origami of a unicorn.]
[The Insights tab is then chosen and takes the user to Insights webpage as described above.]
Visit cibc.com/InnovationBanking and click on the ‘Insights’ link.
[CIBC logo. CIBC Commercial Banking. The CIBC logo is a trademark of CIBC.]
