Podcast: Tech enables small lenders to compete with industry titans
Tariffs can be considered a business problem, knowing the fact that we are a 1.4 trillion industry, and I would say close to 30 to 40% of the equipment probably is going to be impacted in some way, shape or form. Right in terms of data, crane, we cut across data, CRM and AI, it's there in our name itself. So then, if we, if you have to break it down right data, for example. So when, when you come across tariffs, you want to ensure that you're talking about how you can go from a descriptive to a predictive to a prescriptive model when it comes to tariffs and their business impact, right? By that, what I mean is just to break it down in layman terms. Descriptive is what's happening with tariffs, right? Ai, data can actually give you those insights as to what's going on when you move from descriptive to predictive. You can use data to analyze what is going to happen right in the future, right? So with tariffs kicking in, how are things going to change? Right? That is something that you can go from a descriptive to a predictive phase, and then when you go to the next level, which is prescriptive, that's where the magic happens, right? Prescriptive is the phase wherein, if what you have predicted happens, what are you going to do about it? Right? What are the actions that you're going to take about it, right? So these are the three phases that we have in our mind as we view tariffs as a business problem, and then how does that manifest as a solution? Right? So you want to have the you want to have a better grip on demand, on supply, on pricing, and you want to have, like, competitive rates and stuff bearing in mind that demand, that supply and the pricing, right? So that is what it will enable equipment, equipment financers to achieve by using data. So that's the first part of the three areas that I wanted to cover, right data. AI, I mean, obviously with tariffs kicking in. I mean, more people will want financing, but it will be harder to get right. Yeah, yeah. So, so that's where AI comes in. You want to do credit scoring, you want to kind of mitigate your risk. You want to monitor your portfolio, right? You want to de risk your portfolio. So that's where AI can play a very active role, and you can ensure that those who are deserving, those who have the credit worthiness, do get approved, right in spite of the tariffs at at higher prices, and the credit scoring and the credit decisioning becomes much, much better, yeah, so that's the second perspective I have on the AI pillar. Out of the three pillars that I spoke about, right? We first covered data. Second, we spoke about AI. And the third thing, from our standpoint and our vantage point, is CRM, right. So by that, what I mean is customer relationship management. Think about software like Salesforce. Think about software like dynamics, right? So, if you are a broker, if you are a lender, if you are a lessor, if you are a captive, if you are a non captive, right? If you are an OEM, all of the businesses, right? They have their single source of truth, which is their customer relationship management. So in the age of tariffs, or when we are talking about tariffs and the impact to the equipment finance industry, we want to ensure that you are personalizing for your end customers, right. So the personalization can only happen if you have solid customer relationship management, right? So I'll give you an example. So if you are a manufacturer in the age of higher tariffs, right, you might offer like a 0% interest deal. You might offer like a longer payment plan, right? So if you want to compete with manufacturers, with OEMs, right? If you're a finance company, if you're a non bank, or a non captive or a bank, how do you compete with your with the OEMs who are offering these kind of deals when the tariffs increase? So in that case, right? You can have personalized finance deals chopped out using the power of your CRM, if you know your customer, your end customer, well, if you know your end customer better, right? You can use that for personalized finance, and that's what CRM can help you achieve, right, right? Quinn, right. So that's our vantage point. Hopefully that was helpful. I tried to break it down into simple terms, and I tried to break technology and AI down into three areas, right, our perspective on data, our perspective on AI and our perspective on CRM and how they come together, right, to ensure that you can have like competitive rates offered. You can have personalized finance offered, and you can compete. You can do better credit scoring. In credit risking, and you can run your business better, yeah,
no, that's super interesting. And I haven't even thought about the point of how, you know, as these tariffs kind of create these challenges, how, how? Yeah, using AI to make effective credit decisions, right? How that could become, you know, increasingly important. And one thing I was wondering, as far as the as far as like data collection to train the AI on, I'm wondering if there are any kind of previous global events that we can maybe turn to as examples, right, like, for instance, like the pandemic, right? Like the we did, obviously different, but some of those challenges that we saw there, as far as you know, supply chain disruptions, those are some, some like possible outcomes with the tariffs and stuff as well. So wondering if, you know, we if there's any opportunity there to use data from previous global events to help equipment finance navigate some of these challenges.
Great question. Quinn, and I mean, you got it spot on, right? We experienced supply chain issues. We experienced issues towards operational efficiency at the backdrop of COVID, which is relatively recent event, five to four years ago, right? So we have seen that. So, I mean, we might experience that right with with our country negotiating with other countries in terms of the reciprocal tariffs and stuff. I mean, a lot of decisions are going to be made. Manufacturers might shift countries, and they might set up factories elsewhere, hopefully here in the US. So we might experience based on the demand, right, based on certain types of equipment which is in high demand, to your point. And just like you mentioned, I think we are most likely to experience supply chain issues, disruption, operational efficiencies and stuff. So I think that's exactly where AI can can come in, and you can kind of optimize your inventory, right? So at data cream, for example, we get into discussions where you're talking about trunk stock in terms of mid devices, inventory management and stuff like that. So you want to ensure that high ticket items or items which a lot of businesses need, which are in high demand, are easier. I mean, you're not. They're not spending time sitting in, sitting on the shelf somewhere, right? Likewise. I mean, if you can, if you can understand that, hey, I mean, there's going to be this disruption, or the manufacturers is going to make some strategic decisions. I mean, that's where you can use AI and ensure that, basically, the operational efficiency is their supply chain issues are mitigated. So absolutely. I mean, I think we can look at those prior events like COVID, we can look at those macro scenarios, right to ensure that they are not entering into the same territory and they're not getting impacted by those same kind of issues due to tariffs. So, yeah, absolutely, I think it, I think it definitely can help, absolutely,
yeah, and I mean even tariffs too, right? Because, I mean Trump, he imposed tariffs during his first term as well. Obviously, maybe not to this, this degree, but, but, you know, I think there's some, some precedent there. And one thing I'm wondering, if, for maybe those, those lenders out there who maybe they just, they're new to AI, they haven't used it very much. And, you know, I think about some of those relatively simple AI tools out there, like, large language models, right? I'm wondering maybe some, like, if there are any opportunity there for your simple AI applications, like, like large language models, where you could be, like, you could ask it a question, hey, how? How might just as an example, how might tariffs affect used truck prices? How have tariffs affected used truck prices in the last couple months? Right? And then it gives you an answer, and if it does that make sense, I wonder if there's any kind of opportunity there for those more like simple AI tools.
Oh, absolutely Quinn, and I think to your point, a lot of these tools have evolved since 2022 November, right? So we had chat GPT come on around the 2022 November time frame. And then pretty soon we learned that, hey, I mean, other players like Claude came in right by anthropic. Pretty recently we have had grok by Elon Musk, right, which is using the Twitter and the x.com database. So we have seen these models also evolve over time. The parameters are increasing. These models are becoming more and more comprehensive. They're able to answer questions in a better way. A and the trend that we are going to get into is Agent AI, right? So up until now, yeah, it was more of like a chat bot, wherein you are asking a question and it is giving an answer. But now, with the power of these three things, the pillars, which I mentioned, data, CRM and AI, right? If you are using a system called Salesforce, if you're using a system like Microsoft Dynamics, and if you're using your data and AI, and you are using platforms like Databricks, you're using platforms like Microsoft, right from from a large language model standpoint, like you mentioned, these things come together, not only for a simple QA wherein you go, you can query about the used truck prices and stuff. I mean, grok, for example, right? It can go and scan the Internet in real time. I'm not sure if you have used it, but these days, I've been using it very actively, and there are mechanisms like deep search and think, right? So if you are asking a question, it can search the internet in real time and present to you the factual data, and you can ask a specific question about tariffs, and it will collect data on how it's impacting used truck prices and whatnot. And by the way, I mean the used equipment prices are likely to increase, right, as as opposed to reducing before, before these tariffs, right? So I mean more and more people are going to kind of start using the used equipment. So those prices are going to plateau instead of going down, and they're going to start rising, right? So, so to your point, you are right. I think we are going to you can have llms, and you can use this large language models and these bots to answer simple questions. It can retrieve data from the internet in real time. Claude I know now offers it. I am not sure I haven't been using chat GPT that frequently these days, but I've been using Claude, anthropic and grok very actively, and I know that these bots can actually pull data in real time. They can think on top of the data that they have pulled, and they can answer questions. So top dealers, solo proprietors, they should be using these tools which are readily available at no cost, and absolutely they can do that. But the next game changer is agentic. Ai, yeah, right. That's where they would want to use their own CRM, their own data and their own AI, right? Because that's the gold mine of wealth that they are having in which they are not utilized. So how can they bash it against the upcoming tariffs and make some strategic decisions? I think that's where they need to start thinking, right? And invest in technology like agentic AI, right? How can they have like agents not just answer questions as bots, but take care of the full end to end use case. Right? Take a problem, right? Take a prompt, go back, connect with multiple systems and get the job done. Yeah? So that's where we are moving towards in the in the age of agentic. Ai got
you? Yeah? No. Thank you for that. That explanation that one of my questions was actually about age AI agents, and you answered that. So, so yeah, thank you, and that'll be really interesting thing to see. And just to be just, just to be fair, you know, with all these tariffs interviews, obviously we I ask everyone you know, what? What are the challenges? What are they, you know? What are the you know? And I also want to ask, are there any potential benefits of the tariffs that maybe equipment lenders, where the lenders could leverage AI to capitalize on any of those benefits?
Yeah. I mean, absolutely there are. It's an opportunity, right? Every challenge is an opportunity. Quinn, right, so the President is in his right mind is trying to jump start the economy. I think we'll see the results in the next two years or so. Obviously, we haven't had a fair deal with many of the countries, right? I mean, when you study the reciprocal tariffs and stuff, I mean, oftentimes economists predict doom and gloom, but at times these policy decisions, I mean, obviously we have, we have a businessman who is now our president, and he has a good council of advisors and stuff, so he has done study and research. So obviously one good thing that will emerge is supply chains will shift. Manufacturing will come back to us. Technology is empowering it, right? You don't need as many people and as much labor, right, to kind of build these equipments and stuff. You're entering the age where 3d printers are going to print 3d printers, right, right? So let that sink in, right? I mean, basically, we are entering the age of exponential technologies, right? Wherein technology like a 3d printer can print a 3d printer, right? So that's when things become exponential. So one advantage is, of course, supply chains, changing manufacturing coming back to us when it comes to utilizing AI and stuff like that, right? So with tariffs, we'll also see demand of models like. Equipment as a service, right, right? So wherein you can have short term rentals, heavy equipment, expensive equipment, right? You can, you can use that as a service, equipment as a service, paper use models, right? So we'll see an uptick in those kind of models as well. And that's where you have to use technology like IoT, Internet of Things. You have to be able to check how much they the utilization is like, right? For that particular equipment, how much time is, is it sitting idle, right? You want to be able to price it accordingly. You want to be able to bill it accordingly, right? Yeah, based on who owns the equipment and stuff. So we'll see more and more use of technology. We'll see the use of IoT, Internet of Things, will see the use of data and AI come in, right? And that that kind of is going to change the landscape. And then we are preparing, I mean, we are talking to all major players within equipment as a service, but remember, I mean, that's where companies like data cream come in, right? You might have like an equipment as a service platform, but until you integrate it with your CRM, with your core customer relationship management software like Salesforce or Microsoft Dynamics, and you use the power of your own data and AI, you wouldn't be able to maximize it, right? If you are a financer, or if you are a captive, or if you're if you are an OEM. So that's these are the two points manufacturing coming back and using technology in your models, like equipment as a service, where we see our ourselves fitting in, enabling our partners within the equipment finance vertical to make the most of the current situation. Absolutely,
yeah, and last question for you here, kind of, kind of separate from this tariff thing, if you don't mind, you know, last year, when I was working on a story, I was asking a bunch of different equipment lenders, what is the main factor driving your investment in tech investment in AI and so many people said, compliance. You know, like Section 1071, I know that's sort of irrelevant now, with with the CFPB kind of being shut down, but like, but yeah, like 1071 or know your customer, so wondering if there are any areas related to compliance, any kind of regulatory challenges that that, yeah, that necessitates the use of AI and technology.
Oh, great question, Quinn, and in fact, we are making those investments as well. So you mentioned compliance. So one of the offerings Quinn, which my company is working towards, is launching the business intellect product, right? So we are, we have your partners of Salesforce. We are partners of Microsoft and Databricks, and we work with, very closely with mid disk, with whom we are a partner as well. Mid disk, as you probably might know, they are KYC, KYB, compliance kind of software as a service company, right? So this product offering which we are going to work on, obviously, it's going to ensure that it's not directly for managing tariffs, but managing compliance, which is a necessity because of the tariffs, right, right? So think about it. I mean, if you have App Exchange offering where in our customers, right within the equipment finance space, they can download it onto their core CRM, and it integrates with, say, for example, a platform like mid disk, the tariffs and the surrounding compliance, which comes down. I mean, obviously it's going to help better manage it in terms of your overarching question, right? When you, when you talk to various players within the industry, what is driving their tech investments? So on one side, I mean, obviously they don't want to be left out. There is a fear of missing out, right? You don't want to be behind because, if your competitor is using AI, if your competitor is using tech to the optimal extent, you don't want to be behind because you will be left out and you will be obsolete in less than two years time, right? Right? We're going to see consolidation in the industry as well because of tech, the early adopters and those who are adopting tech at a rapid pace and who are offering like an end to end, still, customer experience, they are going to win, right? Because, at the end of the day, when it comes down to customer experience, right, if you are able to offer the deal and close it in few seconds, versus or versus versus few weeks, right? I mean, obviously digital lender, end to end, digital player is going to have a tremendous advantage, right? So it's, it's table stakes now. I mean, if you're not investing in tech, if you're not investing in AI, if you're not bringing viewing all three together, data, AI and CRM, you're going to be left out and more so in the age of tariffs, right? Because this is going to be a disruption, and those who adopt to this, and who treat this as an opportunity are going to thrive, and the key thing is to find the right partner, right? Whether it is data cream or whether it is someone else you if you are within equipment, finance, if you are. It within this industry vertical, you got to find a good partner, right? Because with AI and tech, the age and the time of six month projects and one year projects is gone. The beauty of this is you can start something small. You can have like a three week project or a four week project on agentic AI, right? And you can see the value it pays for itself, right, right? So if there is a ROI return on investment of about four weeks or maybe a couple of months, you would be stupid not to try it out and be left behind against your competition, right? So that those are my two cents on how people should view technology and how they are viewing it, and those who are not viewing it with that lens, what will happen to them? Absolutely?
Yeah, yeah. I'm glad you brought up. You know that that fear of missing out component, because when I've asked, I've talked to a lot of lenders where it's like, are you using AI or investing in AI? And they're like, Yeah. And I'm like, Well, what for? And they're like, well, we just feel like we should be everyone else is using it. We don't really know how we're going to use it yet. But anyways, yeah, and all those things too, about like forming strong partnerships with the tech companies, that's another thing that I planted to dive into a little bit more during equipment finance connect, but, uh, but, yeah, no, that's I know we're running close to 30 minutes here, so I'll leave it at that, but I just want to say, thanks again very much for your time. You're based in California. Is that correct? I'm based
in the San Francisco Bay Area, Quinn, and I look forward to attending the panel moderated by you Quinn, and it should be a great time at equipment finance connect absolutely thanks to you for reaching out before the event. I enjoyed the conversation, and I look forward to talking more in Nashville, in the beautiful city of Nashville, and meeting a bunch of friends and connects, making new friends as well in Nashville next month.
no, that's super interesting. And I haven't even thought about the point of how, you know, as these tariffs kind of create these challenges, how, how? Yeah, using AI to make effective credit decisions, right? How that could become, you know, increasingly important. And one thing I was wondering, as far as the as far as like data collection to train the AI on, I'm wondering if there are any kind of previous global events that we can maybe turn to as examples, right, like, for instance, like the pandemic, right? Like the we did, obviously different, but some of those challenges that we saw there, as far as you know, supply chain disruptions, those are some, some like possible outcomes with the tariffs and stuff as well. So wondering if, you know, we if there's any opportunity there to use data from previous global events to help equipment finance navigate some of these challenges.
Great question. Quinn, and I mean, you got it spot on, right? We experienced supply chain issues. We experienced issues towards operational efficiency at the backdrop of COVID, which is relatively recent event, five to four years ago, right? So we have seen that. So, I mean, we might experience that right with with our country negotiating with other countries in terms of the reciprocal tariffs and stuff. I mean, a lot of decisions are going to be made. Manufacturers might shift countries, and they might set up factories elsewhere, hopefully here in the US. So we might experience based on the demand, right, based on certain types of equipment which is in high demand, to your point. And just like you mentioned, I think we are most likely to experience supply chain issues, disruption, operational efficiencies and stuff. So I think that's exactly where AI can can come in, and you can kind of optimize your inventory, right? So at data cream, for example, we get into discussions where you're talking about trunk stock in terms of mid devices, inventory management and stuff like that. So you want to ensure that high ticket items or items which a lot of businesses need, which are in high demand, are easier. I mean, you're not. They're not spending time sitting in, sitting on the shelf somewhere, right? Likewise. I mean, if you can, if you can understand that, hey, I mean, there's going to be this disruption, or the manufacturers is going to make some strategic decisions. I mean, that's where you can use AI and ensure that, basically, the operational efficiency is their supply chain issues are mitigated. So absolutely. I mean, I think we can look at those prior events like COVID, we can look at those macro scenarios, right to ensure that they are not entering into the same territory and they're not getting impacted by those same kind of issues due to tariffs. So, yeah, absolutely, I think it, I think it definitely can help, absolutely,
yeah, and I mean even tariffs too, right? Because, I mean Trump, he imposed tariffs during his first term as well. Obviously, maybe not to this, this degree, but, but, you know, I think there's some, some precedent there. And one thing I'm wondering, if, for maybe those, those lenders out there who maybe they just, they're new to AI, they haven't used it very much. And, you know, I think about some of those relatively simple AI tools out there, like, large language models, right? I'm wondering maybe some, like, if there are any opportunity there for your simple AI applications, like, like large language models, where you could be, like, you could ask it a question, hey, how? How might just as an example, how might tariffs affect used truck prices? How have tariffs affected used truck prices in the last couple months? Right? And then it gives you an answer, and if it does that make sense, I wonder if there's any kind of opportunity there for those more like simple AI tools.
Oh, absolutely Quinn, and I think to your point, a lot of these tools have evolved since 2022 November, right? So we had chat GPT come on around the 2022 November time frame. And then pretty soon we learned that, hey, I mean, other players like Claude came in right by anthropic. Pretty recently we have had grok by Elon Musk, right, which is using the Twitter and the x.com database. So we have seen these models also evolve over time. The parameters are increasing. These models are becoming more and more comprehensive. They're able to answer questions in a better way. A and the trend that we are going to get into is Agent AI, right? So up until now, yeah, it was more of like a chat bot, wherein you are asking a question and it is giving an answer. But now, with the power of these three things, the pillars, which I mentioned, data, CRM and AI, right? If you are using a system called Salesforce, if you're using a system like Microsoft Dynamics, and if you're using your data and AI, and you are using platforms like Databricks, you're using platforms like Microsoft, right from from a large language model standpoint, like you mentioned, these things come together, not only for a simple QA wherein you go, you can query about the used truck prices and stuff. I mean, grok, for example, right? It can go and scan the Internet in real time. I'm not sure if you have used it, but these days, I've been using it very actively, and there are mechanisms like deep search and think, right? So if you are asking a question, it can search the internet in real time and present to you the factual data, and you can ask a specific question about tariffs, and it will collect data on how it's impacting used truck prices and whatnot. And by the way, I mean the used equipment prices are likely to increase, right, as as opposed to reducing before, before these tariffs, right? So I mean more and more people are going to kind of start using the used equipment. So those prices are going to plateau instead of going down, and they're going to start rising, right? So, so to your point, you are right. I think we are going to you can have llms, and you can use this large language models and these bots to answer simple questions. It can retrieve data from the internet in real time. Claude I know now offers it. I am not sure I haven't been using chat GPT that frequently these days, but I've been using Claude, anthropic and grok very actively, and I know that these bots can actually pull data in real time. They can think on top of the data that they have pulled, and they can answer questions. So top dealers, solo proprietors, they should be using these tools which are readily available at no cost, and absolutely they can do that. But the next game changer is agentic. Ai, yeah, right. That's where they would want to use their own CRM, their own data and their own AI, right? Because that's the gold mine of wealth that they are having in which they are not utilized. So how can they bash it against the upcoming tariffs and make some strategic decisions? I think that's where they need to start thinking, right? And invest in technology like agentic AI, right? How can they have like agents not just answer questions as bots, but take care of the full end to end use case. Right? Take a problem, right? Take a prompt, go back, connect with multiple systems and get the job done. Yeah? So that's where we are moving towards in the in the age of agentic. Ai got
you? Yeah? No. Thank you for that. That explanation that one of my questions was actually about age AI agents, and you answered that. So, so yeah, thank you, and that'll be really interesting thing to see. And just to be just, just to be fair, you know, with all these tariffs interviews, obviously we I ask everyone you know, what? What are the challenges? What are they, you know? What are the you know? And I also want to ask, are there any potential benefits of the tariffs that maybe equipment lenders, where the lenders could leverage AI to capitalize on any of those benefits?
Yeah. I mean, absolutely there are. It's an opportunity, right? Every challenge is an opportunity. Quinn, right, so the President is in his right mind is trying to jump start the economy. I think we'll see the results in the next two years or so. Obviously, we haven't had a fair deal with many of the countries, right? I mean, when you study the reciprocal tariffs and stuff, I mean, oftentimes economists predict doom and gloom, but at times these policy decisions, I mean, obviously we have, we have a businessman who is now our president, and he has a good council of advisors and stuff, so he has done study and research. So obviously one good thing that will emerge is supply chains will shift. Manufacturing will come back to us. Technology is empowering it, right? You don't need as many people and as much labor, right, to kind of build these equipments and stuff. You're entering the age where 3d printers are going to print 3d printers, right, right? So let that sink in, right? I mean, basically, we are entering the age of exponential technologies, right? Wherein technology like a 3d printer can print a 3d printer, right? So that's when things become exponential. So one advantage is, of course, supply chains, changing manufacturing coming back to us when it comes to utilizing AI and stuff like that, right? So with tariffs, we'll also see demand of models like. Equipment as a service, right, right? So wherein you can have short term rentals, heavy equipment, expensive equipment, right? You can, you can use that as a service, equipment as a service, paper use models, right? So we'll see an uptick in those kind of models as well. And that's where you have to use technology like IoT, Internet of Things. You have to be able to check how much they the utilization is like, right? For that particular equipment, how much time is, is it sitting idle, right? You want to be able to price it accordingly. You want to be able to bill it accordingly, right? Yeah, based on who owns the equipment and stuff. So we'll see more and more use of technology. We'll see the use of IoT, Internet of Things, will see the use of data and AI come in, right? And that that kind of is going to change the landscape. And then we are preparing, I mean, we are talking to all major players within equipment as a service, but remember, I mean, that's where companies like data cream come in, right? You might have like an equipment as a service platform, but until you integrate it with your CRM, with your core customer relationship management software like Salesforce or Microsoft Dynamics, and you use the power of your own data and AI, you wouldn't be able to maximize it, right? If you are a financer, or if you are a captive, or if you're if you are an OEM. So that's these are the two points manufacturing coming back and using technology in your models, like equipment as a service, where we see our ourselves fitting in, enabling our partners within the equipment finance vertical to make the most of the current situation. Absolutely,
yeah, and last question for you here, kind of, kind of separate from this tariff thing, if you don't mind, you know, last year, when I was working on a story, I was asking a bunch of different equipment lenders, what is the main factor driving your investment in tech investment in AI and so many people said, compliance. You know, like Section 1071, I know that's sort of irrelevant now, with with the CFPB kind of being shut down, but like, but yeah, like 1071 or know your customer, so wondering if there are any areas related to compliance, any kind of regulatory challenges that that, yeah, that necessitates the use of AI and technology.
Oh, great question, Quinn, and in fact, we are making those investments as well. So you mentioned compliance. So one of the offerings Quinn, which my company is working towards, is launching the business intellect product, right? So we are, we have your partners of Salesforce. We are partners of Microsoft and Databricks, and we work with, very closely with mid disk, with whom we are a partner as well. Mid disk, as you probably might know, they are KYC, KYB, compliance kind of software as a service company, right? So this product offering which we are going to work on, obviously, it's going to ensure that it's not directly for managing tariffs, but managing compliance, which is a necessity because of the tariffs, right, right? So think about it. I mean, if you have App Exchange offering where in our customers, right within the equipment finance space, they can download it onto their core CRM, and it integrates with, say, for example, a platform like mid disk, the tariffs and the surrounding compliance, which comes down. I mean, obviously it's going to help better manage it in terms of your overarching question, right? When you, when you talk to various players within the industry, what is driving their tech investments? So on one side, I mean, obviously they don't want to be left out. There is a fear of missing out, right? You don't want to be behind because, if your competitor is using AI, if your competitor is using tech to the optimal extent, you don't want to be behind because you will be left out and you will be obsolete in less than two years time, right? Right? We're going to see consolidation in the industry as well because of tech, the early adopters and those who are adopting tech at a rapid pace and who are offering like an end to end, still, customer experience, they are going to win, right? Because, at the end of the day, when it comes down to customer experience, right, if you are able to offer the deal and close it in few seconds, versus or versus versus few weeks, right? I mean, obviously digital lender, end to end, digital player is going to have a tremendous advantage, right? So it's, it's table stakes now. I mean, if you're not investing in tech, if you're not investing in AI, if you're not bringing viewing all three together, data, AI and CRM, you're going to be left out and more so in the age of tariffs, right? Because this is going to be a disruption, and those who adopt to this, and who treat this as an opportunity are going to thrive, and the key thing is to find the right partner, right? Whether it is data cream or whether it is someone else you if you are within equipment, finance, if you are. It within this industry vertical, you got to find a good partner, right? Because with AI and tech, the age and the time of six month projects and one year projects is gone. The beauty of this is you can start something small. You can have like a three week project or a four week project on agentic AI, right? And you can see the value it pays for itself, right, right? So if there is a ROI return on investment of about four weeks or maybe a couple of months, you would be stupid not to try it out and be left behind against your competition, right? So that those are my two cents on how people should view technology and how they are viewing it, and those who are not viewing it with that lens, what will happen to them? Absolutely?
Yeah, yeah. I'm glad you brought up. You know that that fear of missing out component, because when I've asked, I've talked to a lot of lenders where it's like, are you using AI or investing in AI? And they're like, Yeah. And I'm like, Well, what for? And they're like, well, we just feel like we should be everyone else is using it. We don't really know how we're going to use it yet. But anyways, yeah, and all those things too, about like forming strong partnerships with the tech companies, that's another thing that I planted to dive into a little bit more during equipment finance connect, but, uh, but, yeah, no, that's I know we're running close to 30 minutes here, so I'll leave it at that, but I just want to say, thanks again very much for your time. You're based in California. Is that correct? I'm based
in the San Francisco Bay Area, Quinn, and I look forward to attending the panel moderated by you Quinn, and it should be a great time at equipment finance connect absolutely thanks to you for reaching out before the event. I enjoyed the conversation, and I look forward to talking more in Nashville, in the beautiful city of Nashville, and meeting a bunch of friends and connects, making new friends as well in Nashville next month.
