Episode 6

full
Published on:

23rd Dec 2024

Decoding Industrial AI: Insights and Challenges for Manufacturers from Mikhail Taver

Connect with Mikhail Taver: https://www.linkedin.com/in/mtaver/

In this episode of The Manufacturers Network Podcast, host Lisa Ryan chats with Mikhail Taver, the founder and managing partner of Taver Capital. The Delaware-based international venture capital firm is renowned for its specialization in funding artificial intelligence companies across the globe. Mikhail shares his journey from a budding investor at a young age to an AI enthusiast and expert. He brings profound insights into how AI has evolved over the years and the transformative potential it holds for the manufacturing industry.

Key Themes and Topics:

  1. AI's Evolution and Impact:
  • Mikhail's venture into AI, dating back to his university days at the University of Edinburgh where he encountered early AI concepts.
  • The impact of AI's growth from a niche interest to a ubiquitous technology likened to "new electricity."
  1. AI in Manufacturing:
  • Current status and future potential of AI in the manufacturing sector.
  • Importance of adopting AI solutions in manufacturing to stay competitive.
  1. AI Implementation Strategies:
  • Tips for manufacturers to prioritize AI adoption including starting small and involving the workforce for a smoother transition.
  • The role of AI in improving processes like mineral discovery using NASA's satellite data and enhancing worker safety through computer vision.
  1. Challenges and Solutions:
  • Overcoming the reluctance within the workforce due to AI adoption fears.
  • Bridging the gap between startups and large corporations by employing interfaces or ambassadors.
  1. Lessons Learned:
  • AI is a tool, not a universal solution; understanding its scope and limitations is crucial.
  • The need for corporations to align with venture funds or consultants to manage the inherent risks of working with startups.
  1. Fun Facts:
  • Mikhail first drew a neural network with a pencil and paper in 1999.
  • He inadvertently pioneered AI's role in various industries after considering it a "mistake" to choose a niche that became mainstream.

Lessons Learned:

  • Manufacturers are urged to embrace AI not only as a tool for innovation but as a necessity to maintain competitiveness.
  • Effective communication and education within organizations can mitigate fears associated with AI replacing jobs.
  • Collaborations between startups and corporations require a shared understanding facilitated by informed liaisons or venture funds.

SEO Keywords: Artificial Intelligence in Manufacturing, AI Implementation, Industrial AI, Venture Capital in AI, AI Solutions for Manufacturers, Manufacturing Process Transformation, Digital Twins, Predictive Maintenance, AI Workforce Management, Startup Collaboration.

Contact Information: For more insights from Mikhail Taver, connect with him on LinkedIn or reach out via email. Stay updated with the latest episodes of The Manufacturers Network Podcast by subscribing on your favorite podcast platform.

Next Episode All Episodes Previous Episode

Listen for free

Show artwork for The Manufacturers' Network

About the Podcast

The Manufacturers' Network
Connecting Manufacturers with Manufacturers
The Manufacturers' Podcast is THE place for manufacturers to connect with and learn from other manufacturers. Not only will listeners get to learn from their manufacturing colleagues, but they will also discover HOW they can help each other as a resource or as a source of help and inspiration.

As a manufacturer, it's easy to get pigeon-holed into only focusing on your own industry, whether it be through your industry trade association or your industry colleagues. While trade associations are an excellent source of information for their members, sometimes it's gaining a perspective from someone else in a completely different industry that gives you the solution to your dilemma.

Stay tuned for new episodes every week on "Manufacturing Monday's." This drive-time length podcast will give you the information, tips and strategies you need to get your week off to a fantastic start.

About your host

Profile picture for Lisa Ryan

Lisa Ryan

As a Certified Speaking Professional (CSP), an award-winning speaker and author of ten books, Lisa Ryan, CSP, works with her clients to develop employee and client engagement initiatives and strategies that keep their top talent and best clients from becoming someone else’s.
Lisa’s expertise includes: strengthening workplace culture, improving employee engagement, increasing customer retention, and initiating gratitude strategies (“Grategies”) for personal and professional benefit. Lisa’s participants enjoy her high energy, enthusiastic delivery and quick wit and they leave the session with ideas they are committed to acting on immediately to make positive workplace culture changes.
Lisa costars in two films with other experts including Jack Canfield of “Chicken Soup for the Soul.” She is the Past-President of the National Speakers Association, Ohio Chapter and holds an MBA from Cleveland State University.

Relevant Experience

• Keynote, breakout or workshop speaker at more than 100 national and international conferences
• Thirteen years of industrial marketing and sales experience, including seven years in the welding industry – and yes, she does weld
• Host of “Elevate Your Engagement Levels: What You Need to Know” on the Elite Expert Network and the C-Suite Network
• Creator of “The Seven Mistakes Managers Make to Crush Company Culture” video series
• Best-selling author of ten books, including “Manufacturing Engagement: 98 Proven Strategies to Attract and Retain Your Industry’s Top Talent”
• Award-winning speaker