Fedor Pak is a successful serial entrepreneur and business leader with a passion for technology and innovation.
He founded and led three successful companies: Coincom, Chatfuel, and Shoplio.
Fedor achieved $5.5 million in revenue and raised $4 million in funding.
The Interview
What's your job and how does it involve AI?
I'm developing Chatfuel, a cutting-edge platform designed to revolutionize sales and marketing processes through the power of AI automation. This platform streamlines complex tasks, improves customer engagement, and increases efficiency, enabling businesses to thrive.
How much time do you approx. save daily by using AI tools?
I save up to 4 hours a day through automation. As a manager with multiple responsibilities, frequent communication with clients and partners, and a remote team, using different tools for these activities helps me significantly reduce the time I spend on routine tasks.
Do you prefer: ChatGPT or Bard?
ChatGPT
What area should AI enthusiasts keep an eye on in the near future?
For many, there's a gap between the high expectations and demands placed on AI and the disappointment stemming from not being able to use it effectively for solving real, everyday problems. AI will eventually be pervasive and impactful, but this will take time. Concentrate on use cases where AI can adequately address your current business challenges; don't expect miracles. However, once you adopt it and learn how to manage AI – understanding its limitations and possibilities – you'll be two steps ahead of your competitors in the next technological leap.
Any tips, tricks or hacks regarding the use of AI?
Recognize the potential of AI and consider it like a young, inexperienced, yet brilliant employee who can significantly enhance or even replace your entire team. Don't set high expectations immediately, and start utilizing it as soon as possible in areas where it can already be beneficial.
What AI tool should be invented for you?
For me personally, AI is like a digital clone that knows all my preferences and habits. It can plan routes, book restaurants, negotiate with car dealerships, and much more.
Love or hate: Technology smarter than humans aka AGI?
You might prefer writing on clay tablets, but progress is inevitable. Your personal feelings towards it aren't as important as whether you can harness technology to benefit your business. If you can, you'll free up resources for what matters most in your business and for your people. However, if you haven't adapted and technology poses a threat to your profession or business, that's a different issue. Our ancestors were adaptable, and that's why we've survived to this day.
Do you believe AI will bring a bigger technological revolution than the internet?
What I am certain of is that the lives of our children and grandchildren will undoubtedly be completely different!
Who'll make the race for spearheading AI in 10 years?
OpenAI
Is AI more of a chance or a challenge for humanity?
both
How can you make money on AI now?
Get ready to work with AI! A GPT store featuring custom GPTs from OpenAI will launch in Q1, paving the way for significant monetization opportunities. By then, we at Chatfuel will enable the addition of any GPT model to messengers and the integration of business systems. This advancement will allow AI enthusiasts to easily make money and deploy AI employees to solve real business challenges.
About the interview series:
‘Spilling the digital beans on AI’ allows you to listen in on CEOs building AI tools and learn from AI enthusiasts who are already leveraging the technology every day.
Whether you are looking for tips using AI or want to take a glimpse into the future of AI with us, get the popcorn out because we translate the technical chit-chat into a language we all understand.
