Brightwave Founder Mike Conover Says AI Will Replace Tedious Work: 'We Have Systems That Can Get You To The 50-Yard Line'

Brightwave founder and CEO Mike Conover appeared with Benzinga’s Dan Leach at Future Proof CityWide Miami in March to discuss his company’s unique approach to artificial intelligence.

Brightwave is an artificial intelligence diligence platform for private market investors to help clients better understand their investments.

“There is not a firm in financial services that is not looking for procuring the class of technology that we sell,” Conover said. “You can empathize with young kids [working at financial firms] who are tasked with moving through a thousand pages of documents just to get a letter of intent… Financial data is dozens and dozens and hundreds of hours of work and historically, we’ve just thrown more bodies at the problem.”

The Indiana University alum noted that many managers do not have a thorough understanding of artificial intelligence and the power it unlocks.

“There’s no owner’s manual for ChatGPT, it can do many, many things,” Conover said. “It is the role of experts like ourselves to help define workflows for our customers and with our customers that get them to a deliverable.”

Conover, who has a background in artificial intelligence and data science, most recently worked at Databricks, a global data and analytics company.

As artificial intelligence woos financial markets and attracts attention from management at major corporations, several observers have grown worried that the technology could replace white collar jobs and leave the economy worse off.

Conover says artificial intelligence systems are not a replacement for good judgment. He also explained how previous technologies, such as VisiCalc for accountants in the late 1970s, only enabled employees to do more efficient and thought-provoking work.

“We’re seeing a similar sea change with respect to high-volume, tedious ground work that historically there’s been no alternative for, but now we have systems that can get you to the fifty-yard line much faster,” Conover said.

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