#20 - René Morkos, Founder & CEO at ALICE Technologies
Slice of Construction Team
07/15/2024
Join us in this exciting episode of the Slice of Construction podcast, hosted by Jared S. Taylor! Our Guest: René Morkos, Founder & CEO at ALICE Technologies.
What you’ll get out of this episode:
- Introduction to ALICE Technologies' generative AI construction scheduler.
- Impact and reception of the latest product release.
- Future trends in AI and construction technology.
- Balancing roles as a CEO and Stanford professor.
- Valuable advice for entrepreneurs and early-stage companies.
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Introduction
In a recent episode of the Slice of Construction podcast, host Jared S. Taylor delved into the world of construction technology with René Morkos, Ph.D., the founder and CEO of ALICE Technologies. The discussion highlighted the groundbreaking advancements in generative AI for construction scheduling and provided valuable insights into the future of the industry.
The Genesis of ALICE Technologies
ALICE Technologies stands out as the world's first generative AI construction scheduler. According to Morkos, the technology can ingest existing schedules from platforms like P6 and Microsoft Project, then generate millions of simulations automatically. This parametric approach allows for dynamic adjustments, such as adding resources or responding to delays, ultimately optimizing the construction process.
A Decade of Innovation
Reflecting on nearly a decade since founding ALICE Technologies, Morkos emphasized the journey from initial skepticism to significant market impact. The latest product release marked a pivotal moment, integrating AI capabilities directly with existing systems like P6. This shift addressed customer feedback regarding setup time and system integration, drastically reducing setup from weeks to minutes and resonating well with the market.
Future Trends in AI and Construction
Looking ahead, Morkos predicts substantial advancements in AI within the construction industry. He foresees the rise of agent-based workflows, where AI tools handle complex tasks by integrating with other systems, similar to how large language models (LLMs) use calculators. This evolution, he suggests, will follow a cycle of initial excitement, a period of realization of complexity, and eventually, significant breakthroughs.
Balancing Academia and Entrepreneurship
Beyond his role at ALICE Technologies, Morkos is also a professor at Stanford University. He discussed how teaching complements his entrepreneurial efforts, grounding his work in robust theoretical foundations. Despite the challenges, Morkos finds that the academic discipline of thorough, precise thinking greatly benefits the practical demands of running a tech company.
Advice for Entrepreneurs
Morkos shared valuable advice for budding entrepreneurs. He emphasized the importance of patience and self-care, acknowledging that achieving product-market fit can take around seven years. He also stressed the significance of finding the right investors—those who understand the long-term vision and complexities of the business, and who can balance encouragement with realistic expectations.
Conclusion
René Morkos's journey with ALICE Technologies offers a compelling narrative of innovation, perseverance, and strategic growth. His insights not only highlight the transformative potential of generative AI in construction but also provide a roadmap for other entrepreneurs navigating the challenging yet rewarding landscape of tech startups. As ALICE Technologies continues to evolve, its impact on the construction industry is poised to grow, setting new standards for efficiency and adaptability.
