Between Two Humidors Episode 005 > Michael J Goldrich
Show notes with time stamps below.
Summary:
In the latest Episode 005 of Between Two Humidors, hosted by Jonathan Ruggles, special guest Michael J Goldrich shares his journey from becoming fascinated with the internet and technology as a PhD student at Northwestern in the late 1990s to his current exploration of artificial intelligence (AI). Goldrich discusses his experience working with Anderson Consulting during the early days of the internet and how he transitioned from a literature major to a tech team member. He also talks about his recent interest in AI and the potential it holds for automating tasks and generating content. Goldrich emphasizes the importance of adapting to new technologies, such as AI, and encourages individuals to embrace change rather than resist it. He also shares his teaching approach to introducing people to generative AI technology and discusses the integration of AI in the hospitality industry. Additionally, Goldrich touches on the challenges and potential negative consequences of relying too heavily on AI technology and the importance of critical thinking and human oversight.
YouTube Video Link
https://youtu.be/rDDn-4OiSnA
Guest Links
https://www.linkedin.com/in/michaelgoldrich/
https://vivanderadvisors.com/
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- 00:00:00 In this section of the podcast episode with Michael J. Goldrich, they discuss the unexpected discovery that led Michael to the world of AI and technology. In 1995, while Michael was a PhD student at Northwestern University, he stumbled upon a new visual way of looking at information on the internet through a program called Mosaic. This discovery piqued his interest, and he decided to leave his plans of becoming a professor behind to pursue a career in this new and exciting field. Michael was so captivated by this technology that he spoke to his wife about finding a job in the industry, and eventually landed a position with Anderson Consulting. The last lecture he mentioned was "The Last Lecture" by Randy Pausch, a professor at Carnegie Mellon University who shared his life story and insights before passing away from cancer. Jonathan Ruggles (Host) recommends the book to anyone interested in an inspiring and thought-provoking read.
- 00:05:00 In this section of the YouTube video titled "Episode 005 Michael J Goldrich," Michael J. Goldrich shares his experience working with Anderson Consulting in the late 1990s when the internet was starting to gain popularity. He recalls expressing his belief in the potential of the "information Super Highway" to the company, leading him to work on their first tech projects. Despite being a literature major, Goldrich was placed on the tech team, which he initially found disconcerting. However, he eventually thrived in the role and remained with the company through its transformation into Accenture. Fast forward to 2019, Goldrich became interested in artificial intelligence (AI) and attempted to create generative AI content, but the results were disappointing. In 2020, he used AI to write a keynote speech for a digital travel summit, which was met with positive feedback. This encounter with AI sparked his interest, leading him to explore the technology further.
- 00:10:00 In this section of the YouTube video titled "Episode 005 Michael J Goldrich," Michael J. Goldrich shares an experience where an AI wrote a presentation for him and his team, leading to a productive and exciting discussion about disruption in the hospitality industry. Despite the irony of critiquing disruption during a presentation that was largely generated by an AI, the group recognized the power and potential of the technology. Ruggles also reflects on the anxiety and uncertainty surrounding the word "change" and encourages embracing it to stay ahead in a world where AI and automation are increasingly present. Goldrich aims to be on the side that directs the technology rather than being directed by it.
- 00:15:00 In this section of the YouTube video titled "Episode 005 Michael J Goldrich," the speaker discusses the resistance to new technologies, specifically AI, among individuals who have been successful using traditional methods. He suggests that this mindset is rooted in both a reluctance to change and a belief in the effectiveness of past tools. The speaker also touches on the irony of skepticism towards life-changing technologies, using the example of video and the early resistance to the internet. He emphasizes the importance of adapting to new technologies and interacting with them in new ways, using the example of ChatGPT and its difference from search engines like Google. The speaker shares his personal experience of using AI to write content and the quick adoption of this technology in his business.
- 00:20:00 In this section of the YouTube video titled "Episode 005 Michael J Goldrich," the speaker, Michael J Goldrich, shares his teaching approach to introducing people to generative AI technology. He begins by giving participants an exercise to create a marketing campaign for a specific audience, despite none of them being marketers. After observing their struggle, he reassures them that they will learn and become amazing. Goldrich then provides hands-on training on how to engage with the technology and use it effectively. The second part of the session focuses on strategy, helping participants identify relevant use cases for their departments and prioritize tasks for automation. The third part involves experimenting with temperature, a feature that manipulates the probability of the algorithm's output. Goldrich's teaching method emphasizes education as the foundation for understanding and effectively using AI technology.
- 00:25:00 In this section of the YouTube video titled "Episode 005 Michael J Goldrich," Michael discusses the use of GPT-4, which he refers to as a "friendly ghost" or "chat GBT," as it can see, hear, and talk but cannot move things. He shares a client success story about a hotel asset manager who was overwhelmed with managing Google alerts for local market news. Michael built an automation that searched for relevant news, filtered it based on distance, and sent a daily email with a summary and links to the manager. This automation saved the manager five hours a week and provided a dashboard for easy access to information.
- 00:30:00 In this section of the YouTube video titled "Episode 005 Michael J Goldrich," Michael discusses the importance of automating tasks to save time and increase productivity. He shares an example of a "hyper-local market intelligence report," which automates information gathering to help businesses make more informed decisions. Michael also reflects on his graduate school experience, where he measured the value of IT in terms of opportunity cost. He emphasizes the significance of opportunity cost in business strategy and the importance of using tools effectively to raise the bar in various industries, including hospitality. Jonathan Ruggles (Host) shares a nostalgic moment about the evolution of mobile phone technology and expresses his familiarity with Canary Technologies, which provides AI solutions to hotels worldwide.
- 00:35:00 In this section of the YouTube video titled "Episode 005 Michael J Goldrich," Jonathan Ruggles (Host) discusses the integration of AI in the hospitality industry by large brands such as Marriott, IHG, Hilton, and Four Seasons. He shares his past experiences with local software companies and their use of data for personalized messaging and notes that the current trend is the use of AI for prediction and forecasting. Michael Goldrich emphasizes that the goal is not to replace people but to collaborate and automate tasks, allowing for more personalized guest experiences and efficient operations. Ruggles encourages listeners to watch a previous podcast episode with Tim Hughes for further discussion on this topic.
- 00:40:00 In this section of the YouTube video titled "Episode 005 Michael J Goldrich," Michael discusses the use of technology, specifically AI, to automate tasks in the workplace. He emphasizes that this technology can help eliminate tasks people dislike doing, allowing them to focus on more valuable work. Michael shares his personal experience of creating personas using AI, such as a chief marketing officer and a lawyer, to guide him in specific tasks. He also mentions the challenges of blending these personas into one conversation and the importance of education and collaboration in implementing such technology. The conversation briefly touches on Elon Musk's criticism of Apple's AI capabilities but doesn't delve deep into the topic.
- 00:45:00 In this section of the Episode 005 Michael J Goldrich YouTube video, Goldrich discusses the challenges and potential negative consequences of relying too heavily on AI technology. He emphasizes the importance of critical thinking and the "human in the loop" concept, where individuals stay engaged with the technology and validate its output. Goldrich warns of an erosion of critical thinking skills as technology improves and people become overly reliant on it, potentially leading to costly mistakes for companies. Despite the advancements in data analysis, Goldrich stresses the need for human oversight to ensure accurate interpretations and avoid potential errors.
- 00:50:00 In this section of the YouTube video titled "Episode 005 Michael J Goldrich," the speaker discusses the impact of technology and millennials in the workforce. He argues that while technology allows for low-skilled individuals to operate with high productivity, it also creates challenges in terms of experience and wisdom. The speaker emphasizes the importance of having "Battle Scars" and experience in marketing and operations, as these skills cannot be easily replicated by technology. He also predicts the future of business-to-agent interactions with the rise of AI agents, and suggests that hotels need to create their own agents to negotiate with these personal agents on behalf of their customers. Goldrich is currently working on a book about this topic and sees it as a potential solution to the challenges posed by AI in the business world.
- 00:55:00 In this section of the YouTube video titled "Episode 005 Michael J Goldrich," Michael discusses the future of AI agent-to-agent commerce and his excitement about the current technological landscape. He believes that AI agents will negotiate with each other for services like hotel bookings, and this new channel of commerce will add efficiency to tasks. Michael also emphasizes that while AI can handle tasks like generating personalized content, it cannot replicate human body language or facial expressions. He shares his experience experimenting with AI actresses and the limitations of their current capabilities, which include generating a video from a script but not controlling their body movements. The process of creating an AI-generated video takes about 30 minutes, and Michael anticipates that the technology will continue to advance. Overall, Michael expresses his optimism about the potential of AI and its ability to enhance various industries, including hospitality.
Michael J. Goldrich
Author and Chief Advisor
As a seasoned strategist in marketing and AI, Michael J Goldrich blends art, science, and technology to forge a seamless customer journey across all touchpoints, achieving significant revenue gains, including a 40% increase through innovative strategies and automations. Their hands-on approach addresses problems directly, generating value by shaping a customer-centric marketing vision. This vision, coupled with securing organizational buy-in, enables the launch of AI transformation projects and multi-channel digital campaigns aimed at exceeding P&L objectives.
Goldrich has pioneered methods for companies to quickly leverage AI for productivity boosts, identifying pilot projects based on business value, risk, and feasibility. Their career is marked by a dynamic ability to transition from brainstorming to precise execution, leading full-funnel marketing campaigns. Their strategic prowess extends from ideation to execution, successfully launching new products and services, leading teams to surpass goals, and reimagining business models for competitive dominance.
Their success is rooted in a servant-leadership philosophy, empowering teams to make bold, intelligent decisions. Recognized as one of the Top 25 Extraordinary Minds in 2020, Goldrich is at the forefront of AI transformation, public speaking, and authorship. Their latest book, "Too Many Hats, Too Little Time," explores generative AI and creating a virtual board of advisors.
