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Foundation Capital hosted our first Fintech x AI PortCo Summit in June 2023 to help executives across the Foundation Capital Portfolio answer the question “What should I be doing about AI?” Founders and leaders from over 35 Fintech companies convened to share their learnings and gather perspectives on this essential question. Luis, CEO of the insurtech startup Agentero, shared insights on how startups can begin exploring AI, using Agentero’s experience as a case study. The high-level takeaways from his talk: introduce AI through hands-on learning, incorporate AI into the company’s day-to-day culture, and align AI initiatives with core business objectives. Agentero kicked off their AI journey with an internal hackathon. The first step was to assess employees’ existing AI knowledge through a survey and introduce them to fundamental AI concepts. The team was encouraged to take Andrew Ng’s “AI for Everyone” course, which provides a foundation in using basic AI tools. Armed with this knowledge, employees independently brainstormed ways AI could benefit Agentero. They then formed cross-functional teams, including members from engineering and sales, to further develop these ideas. To sustain momentum after the hackathon, Luis focused on making AI a core part of Agentero’s culture. He set up a dedicated AI Slack channel where employees could exchange ideas and showcase their use cases for AI tools. A company-wide ChatGPT account provided a further window into effective prompts and diverse use cases for AI, while regular all-hands meetings spotlighted new AI applications. In parallel, Luis ensured that clear guardrails around data privacy were in place. These efforts coalesced into a company-wide AI strategy for Agentero, anchored in three core principles based on effort, impact, and projected ROI: -Empower employees: Engineers saw a productivity boost by using GitHub Copilot, while the growth team leveraged ChatGPT for writing emails and brainstorming creative campaigns. -Enhance access to company knowledge: This applied to universally relevant resources, like the company handbook and all-hands meeting notes, as well as role-specific materials. For example, CSRs can now quickly query the company’s full collection of carrier “appetite guides” and receive natural-language responses. -Integrate AI into products: Agentero is developing a series of new AI-powered features, including an AI chatbot that supports agents in the quoting process and offers advice in a real-time chat.