Dan Wagner, Chairman and CEO of Rezolve AI , was recently a guest on Benzinga's All-Access. Rezolve is an AI-powered platform for e-commerce businesses to optimize their online stores with enriched taxonomies and personalized recommendations, and create a conversational AI-powered shopping interface. The company just announced an exciting new partnership with Microsoft
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00:00Dan, good morning. Welcome back to the show.
00:07How are you?
00:08I'm doing great. I'm sure you're doing even better.
00:11And I'm excited to kind of talk about that
00:13and dive into the fresh news that you had come out this morning.
00:16But for the folks at home that might not be familiar with your company,
00:18tell us what it is that you do.
00:20So we built a set of products that are AI driven
00:25that help to improve the experience on e-commerce sites and digital platforms.
00:30So, for example, Gen AI, instead of filtering and searching,
00:35you can just ask a question as if you're speaking to the best salesman on the planet.
00:39A very fast checkout and a very high level of customer service and support,
00:43all generated using technology, all saving time and efficiency for the retailer,
00:51improving the checkout experience,
00:53but more importantly, allowing consumers to engage with digital platforms
00:58like they might do with the best salesman on the planet.
01:01You know, when you walk into a Best Buy or a Target or whatever
01:05and you hope to speak to somebody who's real knowledgeable about what they're talking about
01:09and real knowledgeable about the products and gives you great advice and great guidance
01:12and then brings you to the close, you know.
01:15And that's kind of how we've trained our proprietary Gen AI platforms.
01:22Now, I think there's two things I just said there that are kind of important.
01:25We own proprietary Gen AI language models, foundational models.
01:30That's not, you know, something that's broad based.
01:33And a lot of AI companies are using other Gen AI platforms like Open AI,
01:38which is owned largely by Microsoft and others.
01:42And what we've done is we've built our own over the last sort of eight years,
01:45focused on this purpose, you know, this product set to deliver improvements in digital engagement,
01:51digital commerce.
01:53And today we announced that Microsoft and Resolve AI have partnered to sell these solutions
01:59to all of the Microsoft customers around the world.
02:02And I think it says a little bit more than just this is a great distribution partnership.
02:07It also says that Microsoft recognized that what we've created is distinct, unique,
02:14impressive, capable, and has tremendous potential.
02:17So we're real pleased about that.
02:19Yeah, and you mentioned the checkout aspect of it.
02:21And I was just thinking, and I know this because sometimes I lose, you know,
02:25whether I lose my wallet or forget my wallet, whatever.
02:27But I think 90% of my transactions, whenever I'm either filling up gas, checking out at a grocery,
02:32whatever the case may be, unless it's a rush shot, I'm using my phone to pay for things, you know.
02:36So it's like we're moving into new technologies being used throughout the checkout process,
02:40including the checkout process itself as well.
02:42And Microsoft has been investing for quite some time now into AI.
02:45So it's awesome to see this partnership come through as well.
02:48Tell me a little bit more about what this kind of does for Resolve AI in terms of the future
02:54and the bottom line and what folks can expect to kind of have the domino effect
02:58of this awesome partnership that you have.
03:00Well, look, this is a multi-hundred million dollar deal.
03:03Okay, this is not a small engagement.
03:07We are working with Microsoft globally to reach out to Azure customers, you know,
03:13cloud-based customers, but also to introduce new customers to Resolve's products, you know,
03:20supported by Microsoft's incredible infrastructure.
03:23And, you know, we're looking to transform retail.
03:27We're looking to sort of level up commerce and retail.
03:31And, you know, I think that we have the potential to dominate this market space,
03:37and I think Microsoft recognized that, and that's why they have partnered with us.
03:41And I know you have a few other partnerships as well, especially with, you know,
03:46you have CreativeDoc, SPHAG, and a few others.
03:49Tell us about those partnerships.
03:51Yeah, look, I mean, we see that, you know, we're a small company with fantastic tech, okay,
03:55that we've been building over time, and, you know, relatively small company, I'll put it that way.
04:00We are very ambitious.
04:01We expect that we will become market leader.
04:03We think we have market-leading technologies in a unique vertical.
04:08And so in order to be the dominant player over the next, you know, few years,
04:14we need to very quickly reach merchants and partners around the world.
04:21And so, you know, partners like CreativeDoc in Poland, partners like SPH in Germany, you know,
04:28these are all important, you know, partners like Grupo Carso in Latin America,
04:32which is a bigger partner, Fiserv, and, of course, Microsoft, you know, which is the biggest.
04:38Give us this fantastic reach.
04:40Give us this ability to get our products in front of customers.
04:43And, you know, people like Microsoft have kicked the tires, right?
04:45You know, they've checked us out.
04:47You know, they've identified that what we have is worthwhile.
04:50And you can hear that.
04:52There's a video circulating today of Nick Parker at Microsoft talking about the partnership
04:59and how excited they are, you know, in the same way that we are.
05:03And we recognize that together we have the potential to win.
05:07So, you know, we're excited about it.
05:09And I think we're also excited about the fact that Microsoft, having committed to open AI,
05:15the other AI company at the moment, anyway, that they have this kind of commitment to.
05:19So I think that says a lot, too.
05:21And that's what I was going to say was, like, we've seen the, you know,
05:24fruits of their labor, of their investment, if you will, in open AI as well.
05:27I think open AI just had a round that closed with an evaluation of approximately $157 billion or so.
05:34So, like, things have worked out very well for Microsoft in that aspect of it.
05:38They know what they're doing in this space, and that's why it's an additional vouch.
05:42It's not just some money giving you company.
05:43It's Microsoft that has invested in this space, knows what's going on, and you're kind of getting that.
05:48You know, they've invested in us, right?
05:50And I think this is the key thing is that, you know, the potential.
05:54You know, we're undervalued, we believe, at this point.
05:56You know, we think that we have the potential to, you know, really scale up as an organization.
06:02And the next, you know, months and certainly over the next 18 months,
06:07you're going to see some real momentum in the business driven by these partnerships
06:12and driven by other new opportunities that will expose themselves over time.
06:17But this is just the beginning of a, you know, a journey that we're on to dominate a very exciting space.
06:25I want to talk about.
06:26Yeah.
06:27I want to talk about, you know, what's in the pipeline here in a moment.
06:29But I also am interested in learning about the three brains, right?
06:33And so how do the three brains kind of function?
06:36And especially why separate them into three different products as well?
06:41Well, the three brains, let's call them brains,
06:44they're sitting on the Gen AI platform that we developed called BrainPower.
06:48And brain commerce is all about conversational commerce with the salesperson.
06:53Brain assistant is all about conversational commerce with the customer service person.
06:59And brain checkout is a payments and wallet kind of fast checkout.
07:05Think of it as kind of a stripe proposition, but it has a whole lot of really cool ways to engage.
07:12For example, you could be watching television or listening to the radio
07:15and your phone will wake up listening to an AI generated watermark that's embedded in the audio.
07:20And that wakes up your phone.
07:22And, you know, maybe you're watching a TV commercial for a car and it says, do you want to test drive?
07:27And you just tap, tap.
07:29So it's got, you know, audio triggers, image triggers, location triggers,
07:35as well as on the web and mobile phones and social media.
07:38So when you take the three together, we see the engagement starting maybe with a trigger through social media,
07:45which would be brain checkout, landing on a site for interrogating
07:50and understanding what the product is that you're about to buy or you're thinking of buying
07:54and getting proper intelligent answers to that in any one of 95 languages.
07:58And then you move to, you know, closing the transaction.
08:01Again, that's brain checkout.
08:02And then finally, if there's a problem or if there's a return or there's something that you want to check on your order,
08:06you would use brain assistance.
08:08So the suite sits on top of any existing e-commerce stack or digital engagement stack
08:13and plugs into, you know, any one of 30-something platforms that we've built, you know,
08:18very quick integrations into, 260 merchant acquirers, which are the payment systems.
08:23So we've made it real easy for retailers to deploy it, which means that we can very quickly monetize
08:29and, you know, grow the business with our partners.
08:32So, you know, all of these things are very attractive because Gen AI is a sinkhole, you know,
08:38of cash for a lot of companies to say, you know, we just need cash, cash to train our engines to do this, to do that.
08:43They're not talking about revenue yet, right?
08:45We're in the revenue generating piece now.
08:48We're all about driving revenue, driving market, you know, take up.
08:55And that's, I think, also attractive to our partners because, you know,
08:59everybody wants to do something with AI, but they don't want to just invest.
09:03You know, they want to start generating revenue.
09:05That's what we're doing.
09:06There's a lot of processes that happen before you actually go to checkout.
09:10And so it's good to see the three brains being a part of those processes
09:15until the actual checkout phase of its project itself.
09:19You know, we've talked a lot about your partnership with Microsoft and other companies here as well.
09:24Is there anything else that I missed to talk about that you wanted our folks to know what's going on with the company,
09:29especially maybe on what to look ahead?
09:32Well, I think that, you know, we're a company to watch in the space.
09:35If people are interested in AI, then, you know, they should pay attention to what we're doing.
09:39We have our proprietary tech as a first starting point, which isn't the case with most listed AI companies.
09:47We are, you know, so we're right at the foundation of this.
09:52We have a very clear vertical market focus.
09:55You know, we're focused on commerce and retail.
09:57We're not being distracted with all the other things that we could be distracted with.
10:00Not for now, anyway.
10:02We want to, you know, dominate in that market space.
10:05And so, you know, that's enough for us today, I think.
10:09Well, I mean, hey, you've got a lot going on, I'm sure.
10:12And again, congratulations on such a big partnership and not just, you know, a few million bucks, it's hundreds of millions.
10:17So that's awesome to see.
10:18And I look forward to having more of these conversations as you reach these milestones
10:22and see the domino effect of these great partnerships and what it does to your bottom line and the business as well.
10:27Thanks, Nick. It'll be a pleasure.