Introduction to Guest

Mark Bainbridge is one of the Founders of Dragonfly AI, a predictive visual analytics platform that uses cutting edge neuroscience to accurately predict how the design of any content or experience influences what your audience sees first, across any channel.

Mark is also the CEO and Founder of Bainbridge Cooper Associates, a marketing and commercial growth consultancy, and Co-Founder of ProMarketer, an AI suite for the marketing and communications industry. Mark has over 30 years’ experience as an award-winning senior leader and CMO across a broad range of industries, from the British Army to Banking. The common denominator is that he helps solve reputational challenges. Mark is from the UK.

The Call to Action

Mark has worked for over 30 years with very interesting brand propositions. However, what Mark realized was businesses were slow when it came to change and adapt to new ways of thinking and doing.

In 2010 Mark was amazed, to say the least, how creative tech was emerging and saw an opportunity to get out there and witness a whole new trace of innovation coming to the market.
Mark left his secure job and came out in the world with a fresh approach to take on this emerging trend in creative tech.

Mark connected with a good friend who ran a company called Hack Masters, and soon joined the Hack Master’s network. Mark spent three years going around the world, looking at the markets and how they’re operating, hacking, and creating new business solutions based on forecast predictions. Really thinking about what the world is going to look like in 30 years. What will change? What will relationships with consumers be like? Mark was keen to produce something that held genuine meaning. With many people now looking at Artificial Intelligence Solutions, Mark was on an amazing journey of discovery. After a three-week expedition to the Algonquin National Reserve to clear his mind, it was then where he mustered up the courage and confidence to 100% throw himself into his new business, Dragonfly AI, and really go for it.

Coming Up with The Idea

Dragonfly AI was born out of a piece of academic research, looping at home to give robotic devices human visual interpretation skills so they could operate in their context, effectively, using human decision making. Mark kickstarted a piece of research, which lasted about four or five years, which helped him create the mathematical formula that the brain uses in a biological state. The research was presented at Queen Mary University London in 2014/2015 where Mark showcased the math formula that the brain uses to identify and prioritize what it sees in zero moment of truth. From there, they decided to bake it into a piece of software, turning the idea into an iOS application. You could now literally ingest anything you wanted to look at, giving you an instant view of what the human brain is seeing in sequence. A very powerful concept to say the least. You could use this technology in marketing, helping brands identify what their consumers see first in any channel and in any content environment.

Dragonfly AI lived with the iOS device for quite a long time. Mark reiterates how important it is to understand your market, for a lot of the early features they started developing were based on input they were receiving from their client partners.

Testing the Product & Validating the Market

Dragonfly AI began running a number of propositions at the same time. They had a bit of a false start. The first start that did not work well was Texels, a platform designed to try and identify all of the emerging technologies out there. Allowing businesses effectively to engage with propositions that they might not stumble across, if they were reaching under normal search trends. The challenge for a lot of innovation companies, AI, and technology-based solutions is they had identified a solution to a problem which they understood intrinsically and had solved it. The problem is, they had to sell it into a market, which is sometimes culturally and intellectually in a different place to where they are. But the reality was, their market – these businesses – take time to adapt and adopt new technologies. Originally Mark thought this idea was fantastic, but he was a bit ahead of himself.

It was in this moment, too, where Mark realized building the right team, one he could genuinely rely and trust, was important. Mark decided to give it another go. You’re going to have some good times and really bad times, and you really must believe in the product you’re putting out in the market. You must create a solution but ask the market whether it really needs it. The key is collaborating with the markets. Finding great people ties into this. By having at least five people on board, together they’ll feel more invested in what you’ve developed, while helping you understand the market you’re selling into.

Target Market

Dragonfly AI initially started out not targeting a specific market, but wound-up gravitating towards shopping marketing, and currently, ecommerce. Dragonfly AI can analyze how different assets are performing. It is perfect for pre-testing content before distribution. Using the software, you can see a heat map and look at a variety of different measures. Mark can hit a button and it will immediately show how the products are performing online. If he is a Brand Manager for Southern Comfort, for example, and his product is scoring a 51, it is not so good. It is hardly getting recognized. However, JIRA, a fine malt whiskey from Scotland, is scoring at a 93. So, this product is clearly grabbing attention. The user can deconstruct their page and drive by looking at all of the components, until they’ve got a complete understanding of how that page is functioning. Dragonfly AI presents the gift and ability to see the optimization of digital assets live.

Mark and his team are starting to look at things like sports sponsorships, branding, live events, etc. They’re working more and more with agencies to accelerate and optimize the brand partnerships..

Dragonfly AI is now getting more traction across both the brand and retail space. They have had new challenges to face, but their goal is to be as helpful as possible to clients through help, support, and solving their problems. It’s all about your customers. Mark wants to keep creating value while being a part of solutions for brands and companies.

Advice for Aspiring Entrepreneurs

Choose your partners well, because those are the people you will be working with for at least three to five years. Your business needs to be based on trust, adaptability, and resiliency. Be courageous when starting your entrepreneurial journey. Create a business that people believe in while trying to make your company a better organization.

Never give up. Build rapport with your clients and earn their trust. Hire people who have the strength to make decisions but will also ask for support when needed. Understand what/who you’re serving in the market. At the end of the day, create a positive, harmonious environment where you can get things done.

https://dragonflyai.co/