This week we are pushing a revolutionary update that will improve the results returned by Dorothy across technologies. The update includes a number of improvements including better relevancy scoring and reduced redundancy. By far, the biggest improvement is the introduction of DiversiSEARCHTM technology to the platform.
Last week we discussed relevance and the advantages that NLP based search engines have compared to their keyword searching counterparts. Because NLP understands the elements of a search query in context, NLP based engines, like Dorothy, have a clear advantage over keyword based search engines. We used relatively simple examples to illustrate this point. But, there’s more.
If you are into patent tech, the Gaylord National Resort convention center was the place to be last week. Most of the extremely small number of patent tech startups in the world were represented at the AIPLA (American Intellectual Property Law Association) national meeting, all in the 30 foot section of the convention center, “Startup Alley.”
Two-thirds of the almost 150 patent lawyers and agents we talked to over the last year, describe duplicates in the returned results as a major problem with current search tools. We have a plan for removing duplicates that appears to be working pretty well in testing. The best part is that we can use what we learned finding duplicates to add even more value platform. We’ll talk about our solution in a future post.
At first multiple Shia LaBeouf's was fun...
Patents are REALLY important in the pharmaceutical industry. Taking a new drug to market cost $3-$5 billion and can take up to 16 years thanks to the arduous FDA approval process. Even though many patents that cover new drugs have less 5 years pendency after the drug is approved for sale, 80% of the overall revenue pharmaceutical companies make are tied directly to a patent claiming an approved drug. VC’s and institutional investors understand this, and rarely invest in drugs that are not covered by at least one patent. Basically, if you are going to raise money for a biotech company and/or you want to recoup the cost of bringing the drug to market you are going to need a patent.
In 1978, Kenny Rogers recorded maybe the greatest song about being a startup founder ever. The advice The Gambler imparts on his young protege on that train bound for nowhere has gotten me Ythrough some rough times, but it is particularly relevant to my role as CEO of DorothyAI.
You might be surprised to know that we are not searching for perfection at DorothyAI.
We are in a transition here at DorothyAI, as we move from a company that creates software solutions to a company that sells software solutions. Actually, we’re a company that sells the software solutions it is still creating. I don’t know if that is a “transition.” In any case, we’ve spent this week looking at feedback from our previewers and setting our goals for the future.
I’ve been focused on learning to sell for the last 7-8 months, since as CEO I’m also salesperson #1. In that time, I’ve read a Medium article, The Greatest Sales Deck I've Ever Seen, at least 10 times. I didn’t get it. What did the collection of randomly chosen images and text about “Subscription Economy” mean? What does Zuora’s product actually do?