2024 Vation Ventures Global Summit Recap: Bringing Together an Ecosystem of Innovators

The 2024 Vation Ventures Global Summit in Denver, Colorado was a significant milestone, marking Vation’s 8^th annual event of bringing together industry leaders and innovators from across the technology ecosystem to explore the future of technology. This year's summit featured a comprehensive agenda that included keynotes, panels, and showcases designed to encourage in-depth discussions and facilitate networking opportunities. Hosted in the Mile High City, known for its vibrant tech community, the Global Summit provided an essential platform for sharing insights and strategies poised to drive the next wave of innovation in the tech sector. 

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Key Highlights and Takeaways

• AI as a Paradigm Shift: Joe O’Callaghan emphasized that artificial intelligence is no longer just a tool but a fundamental shift that requires substantial structural changes within companies. His call for businesses to integrate AI to maintain competitiveness highlighted the necessity of adapting to a rapidly evolving digital landscape.

• Advancements in Technology Discovery: Jordan Loyd introduced the re-developed Vation Ventures Platform, showcasing how advancements in data integration and AI are transforming the process from simple searches to creating interconnected ecosystems. This evolution enhances the ability to generate actionable insights and accelerate technology implementation.

• Impact of Generative AI: Rohan Puranik from WestWave Capital explored how generative AI is lowering barriers to technology adoption, making powerful tools accessible for a broader range of industries. This technology is revolutionizing the creation of digital content and enabling more complex reasoning tasks.

• Leadership Insights from Military to Technology: MajGen Austin Renforth shared leadership philosophies grounded in adaptability, strategic foresight, and servant leadership, drawing parallels between military and business leadership challenges in rapidly changing environments.

• Emerging AI Governance and Security: The Z5 Capital Showcase highlighted the importance of robust governance and security frameworks as AI technologies become increasingly integrated into business operations. Innovations from companies like Nirmata and Holistic AI demonstrated practical approaches to enhancing AI governance and security in cloud environments and enterprise settings.

• Strategic Imperatives for AI Implementation: The End Customer Panel and various discussions underscored the importance of aligning AI strategies with broader business objectives. Leaders stressed the necessity of executive buy-in, a robust data strategy, and continuous learning to successfully leverage AI, highlighting the critical role of strategic alignment in avoiding the pitfalls of rapid technological adoption.

• Lifetime Achievement Award for Bill Miller: Bill Miller, Founder and General Partner of FirstMile Ventures, was recognized with a Lifetime Achievement Award during the VC Fireside Chat. This award celebrated his pioneering contributions to the technology sector, particularly in AI, and his forward-looking investment philosophy that has driven numerous innovations and transformations across industries.

• Vation Research on Balancing Innovation and Optimization: Taylor Grenawalt from Vation Ventures emphasized the critical need for businesses to balance innovation with optimization in their AI strategies. His presentation highlighted the iterative cycle of evaluation, alignment, and execution necessary to ensure AI initiatives contribute positively to business ROI and competitive advantage. This approach helps companies avoid stagnation and align technological advancements with strategic business goals effectively.

Read on for more details about the 2024 Global Summit.  

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Vation’s State of the Industry

Joe O’Callaghan, Co-Founder / Partner / CEO, Vation Ventures ‍

Joe O'Callaghan emphasized artificial intelligence (AI) as a paradigm shift, essential for maintaining a competitive edge in the digital economy. He highlighted AI’s rapid integration across various sectors, transforming core operations and business strategies. O'Callaghan's call to action for CIOs and tech innovators was to lead through this evolution by fostering a collaborative ecosystem adept at leveraging AI for efficiency and innovation. He stressed the need for strategic foresight to navigate future technological waves, urging businesses to prepare for the long-term impacts of AI.

The evolution of the CIO reflects a broader change in business perspectives on technology—from a support tool to a core driver of competitive advantage. Today’s CIOs are challenged to leverage AI, cloud computing, and other transformative technologies to enhance efficiency, foster innovation, and drive growth, making them pivotal in shaping the strategic directions of their companies. O'Callaghan also discussed the evolution of the technology ecosystem, which has seen significant shifts from siloed operations to integrated, strategic platforms that facilitate rapid innovation and solution deployment. He noted the increasing necessity for collaborative interactions across various sectors of the technology landscape, including CIOs, distributors, VCs, and emerging tech companies. This integrative approach is essential for addressing the complex challenges and seizing the opportunities presented by the digital age.

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Technology Discovery Reimagined: The Platform

"We’ve been able to do things in the past year that would have taken our team two, three years. I don’t even know if we could have done it honestly, with how things have progressed, especially around data." - Jordan Loyd, Partner, Vation Ventures

Jordan Loyd introduced the re-developed Vation Ventures Platform, illustrating a shift from traditional technology searches to creating an interconnected ecosystem that enhances data utilization and actionable insights. He discussed the role of advanced analytics and AI in refining technology discovery processes, highlighting the transition towards more strategic and integrated methods.

The updated process of discovering technology involves a better understanding of semantics and syntax, moving away from traditional keyword searches to more nuanced, context-driven exploration. This method enables a more precise representation of data, aligning technological solutions more closely with specific business needs. The presentation emphasized that it's not simply about searching for technology, but rather finding solutions, highlighting the transition towards a more integrated and strategic framework for technology discovery.

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Vation Research & Insights: Balancing Innovation and Optimization

Taylor Grenawalt, Director of Research and Insights, Vation Ventures
Taylor Grenawalt emphasized the necessity of balancing innovation with optimization in AI initiatives, highlighting the role of consistent evaluation and strategic alignment in maximizing ROI. He addressed the challenges businesses face when AI projects outpace strategic alignment, advocating for a disciplined approach to ensure AI's integration supports ongoing business success. Now is the time for businesses to adopt a rigorous approach to their AI strategies. This approach should focus on regular assessments and realignments of AI goals with business objectives to ensure sustained value generation and adaptability in a rapidly changing market. By embracing a disciplined approach to research and development, businesses can optimize their processes and enhance their competitive edge. Ultimately, the goal is to create a seamless integration of AI that supports continuous improvement and long-term success in the marketplace.

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Commanding Innovation | Leadership Lessons from the Front Lines to the Boardroom

MajGen Austin Renforth “Sparky”, USMC (Ret), Senior Advisor at Roberts & Ryan
General Renforth shared insights on leadership, contrasting traditional authoritarian styles with servant leadership that fosters respect and team cohesion. He discussed the necessity of adaptability and strategic foresight in leadership, especially in rapidly changing sectors like technology and military. His experiences underscored the importance of building trust and empowering teams to achieve successful outcomes in high-pressure situations.

General Renforth also touched upon the broader implications of his military experience for leadership in any arena, emphasizing adaptability and proactive strategy. He discussed the evolving challenges in global military tactics and technology, drawing parallels to the dynamic nature of leadership in business sectors dealing with rapid technological change and market volatility. He concluded his keynote by underscoring the importance of continuous learning and adaptability in leadership roles. Leaders, he noted, must stay ahead of the curve to lead effectively through changing landscapes, whether in military or civilian contexts.

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Our dinner reception ended with an acoustic set from up-and-coming country artist Drew Cooper. Before his performance, Dave O’Callaghan, Partner and Co-Founder, had a lighthearted conversation with Drew. He asked questions that expanded on the themes introduced by the General, adding depth to the discussion about how innovation occurs in all fields, not just in the technology industry. This part emphasized the importance of resilience, adaptability, and recognizing the human aspects of leading teams.

This added depth to the evening's exploration of leadership, blending insights from varied fields to provide a comprehensive view of effective leadership strategies.

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VC Fireside Chat: A Journey Through Innovation and Investment 

"AI has been coming for 50 years. It hasn't been sort of a recent breakthrough, only that we all of a sudden got to the point where there was enough compute power at a low enough price that you could make these models a lot deeper and consume a lot more data in the training models, and all of a sudden it was a lot more capable than it used to be." - Bill Miller, Founder and General Partner of FirstMile Ventures   

Dave O’Callaghan, Co-Founder and Managing Partner at Vation Ventures, had an insightful conversation with Bill Miller, Founder and General Partner at FirstMile Ventures, discussing Bill’s successful VC and investment career. Bill emphasized the importance of being strategically positioned to capitalize on technological shifts and described his investment philosophy as opportunistic, focusing on potential game-changers that may not be immediately obvious to others. He also discussed the transformative impact of artificial intelligence, highlighting its potential to reshape industries and societal structures. Bill concluded with reflections on the historical adoption of transformative technologies and expressed his unwavering optimism about the future of technological advancement.

In recognition of his contributions to innovation, Vation Ventures awarded our annual Lifetime Achievement Award to Bill, underscoring his impact and drive to innovate within the technology sector.

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WestWave Capital Showcase | Evolving Security Posture Management: Responding to the Expanding Threat Landscape

"It feels like the pace of how technology is getting adopted is very different. Customers and partners such as yourselves are purchasing this technology at a crazy pace that's getting hard for us to track." - Rohan Puranik, Partner of WestWave Capital

Rohan Puranik explored the impact of generative AI on digital content creation and business operations, noting its increasing accessibility and integration into daily processes. This showcase also featured discussions on AI-driven innovations by portfolio companies like Amplifier Security, Discern Security, and Savant Labs, each presenting unique solutions enhancing cybersecurity and data analytics through AI.

Featured Portfolio Companies:

• Amplifier Security: Focused on human-centric cybersecurity, integrating AI to enhance user interaction and compliance.

• Discern Security: Offered a platform maximizing the effectiveness of existing security tools by providing actionable insights to optimize security postures.

• Savant Labs: Showcased an AI-powered analytics automation platform designed for non-coders, simplifying complex data processes and reducing reliance on IT teams.

WestWave Ecosystem Panel:
Panelists:  Kendra Perry, Director of Emerging Tech & Innovation Advisory | Stratascale , Thomas Donnelly, Co-Founder, CTO | Amplifier Security, Sai Venkataraman, Co-Founder | Discern Security, Rick Doten, VP, Information Technology | Centene Corporation  
‍Moderator: Frank Daidone, COO & SVP Client Transformation | Vation Ventures  

The ecosystem panel explored the integration of emerging technologies in strengthening cybersecurity frameworks. Panelists discussed how advancements like AI are being leveraged to enhance threat detection and response capabilities, making a compelling case for the necessity of such technologies in modern security architectures. They stressed the importance of adapting security strategies to keep pace with rapid technological developments and the increasing sophistication of cyber threats. The panel underscored that while technology plays a crucial role, the human element remains indispensable, advocating for a balanced approach that enhances security measures without compromising the agility and innovation of businesses.

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Z5 Capital Showcase | AI and Data Synergies: Accelerating Innovation

Nanda Krish, General Partner of Z5 Capital
This session provided a deep dive into current trends in generative AI, emphasizing data quality, governance, and observability. Featured presentations from companies like Nirmata, Tursio, DQ Labs, and Holistic AI highlighted innovative platforms designed to enhance AI integration in security, database management, and governance, stressing the importance of robust frameworks to support AI applications.

Featured Portfolio Companies:

• Nirmata: Addressed security automation in cloud environments through policy-as-code to prevent common security misconfigurations.

• Tursio: Enhanced traditional databases with generative AI capabilities to generate insights more efficiently.

• DQ Labs: Focused on data quality and observability to ensure the integrity of data used in AI implementations.

• Holistic AI: Offered comprehensive solutions for AI governance, ensuring compliance and ethical standards.

Z5 Ecosystem Panel
Panelists:  Adriano Koshiyama, Co- CEO | Holistic AI, Nanda Krish, General Partner | Z5 Capital, Brad Pace, COO | Impartner, Arram Han, Head Of Infrastructure, ExodusPoint Capital Management  
Moderator: Frank Daidone, COO & SVP Client Transformation | Vation Ventures  

The ecosystem panel discussion of the Z5 Capital Showcase brought together thought leaders and experts from the showcased companies and the broader industry to discuss the overarching themes of AI integration, risk management, and the future of AI in enterprise settings. Panelists debated the balance between innovation and control, discussing the need for robust governance structures to manage AI's potential risks effectively. They also explored the impact of AI on various industry verticals, offering insights into how companies can navigate the complexities of AI adoption to achieve tangible benefits. The conversation provided attendees with a nuanced understanding of the strategic considerations necessary for successful AI implementation, emphasizing the collaborative efforts required across different sectors to harness the full potential of AI technologies.

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Vation Ecosystem Panel: Identifying and Adopting Innovation in the AI Revolution

“The partnership in this room is something that we can look forward to with excitement that there are people out there striving for innovation."

Panelists: Scott Lesley, CTO | EdgeTI, Dan Smoot, CEO and Board of Directors | Maxar Technologies, Don Scott, Director, Category Management | Ingram Micro, Howard Miller, CIO | UCLA Anderson School of Management, Damon Lewis, CFO | WestWave Capital  
‍Moderator: Frank Daidone, COO & SVP Client Transformation | Vation Ventures

The Vation Ecosystem panel brought together technology leaders from various sectors to discuss the latest developments and challenges in AI integration across industries. The panel underscored the necessity of bridging gaps between different user groups within organizations, such as the disconnect between AI-savvy students and traditional faculty in educational settings. This highlighted a broader theme of ensuring readiness and adaptability among all stakeholders to leverage AI effectively.

The conversation also recognized the risks associated with AI, particularly in sensitive areas like security and surveillance, highlighting the need for careful implementation and ethical considerations to avoid unintended consequences. The overall consensus pointed towards a collective effort to foster an ecosystem that supports robust innovation, trust, and effective communication to maximize the benefits of AI across sectors.

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End Customer Panel: Scaling AI for Business Impact: Operationalizing AI to Maximize ROI

“The hard part is, how do you get in the mindshare of the executive that actually it's worth looking at the ROI rather than, Oh, how fast you can you do this?"  ‍

Panelists: Paul Heard, CIO | Mimecast, Bob Howland, Chief Digital Officer | Dawn Foods, Grant Anderson, CIO | Living Spaces, Scott Cardenas, CIO | Bridge Investment Group
Moderator: Ian Murphy, Director of Strategic Relationships | Vation Ventures  

The End Customer Panel provided an invaluable look into the perspectives of technology executives, all of who have real-world experiences in implementing AI within their organizations. Our panelists discuss the evolution of their AI strategies, emphasizing the alignment of these initiatives with broader business strategies. They note the challenges in operationalizing AI, particularly the need for a robust data strategy to underpin AI applications and the importance of engaging executive leadership in AI projects. The panelists reflect on how a well-defined AI strategy can transform operations and drive innovation. 

The panelists share insights on the necessity of having executives understand the value and potential ROI of AI investments, rather than just focusing on the speed of implementation. They discuss how effective communication and strategic planning can help overcome resistance and foster a data-driven culture within organizations. Effective leadership is critical in ensuring that AI tools are utilized effectively to achieve business objectives and enhance operational efficiency.

This conversation was a reminder of the importance of strategic alignment, executive buy-in, and a clear data strategy as foundational elements for successful AI implementation. The discussion concludes with thoughts on the future steps organizations need to take to integrate AI seamlessly into their operations and drive meaningful outcomes. Panelists urge organizations to prioritize continuous learning and adaptation to leverage AI effectively across their operations.

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Conclusion and Next Steps for the Global Summit Recap 

The 2024 Vation Ventures Global Summit in Denver was an insightful event, highlighting transformative advancements in AI and their profound implications across various sectors. Keynote speakers, panel discussions, and showcases provided a comprehensive look at how AI is reshaping industries, enhancing decision-making, and driving operational efficiencies. Joe O'Callaghan's State of the Industry address underscored the urgency for businesses to adapt and integrate AI to maintain competitiveness in a rapidly evolving digital landscape. Throughout the Global Summit, a recurring theme was the critical role of CIOs and technology leaders in navigating this shift, emphasizing that strategic foresight and proactive adaptation are essential. 

Thank you again to all sponsors, attendees, panelists, and participants in the technology ecosystem who contributed to the Summit’s success. Your commitment to collaborating, connecting, and innovating is what truly brings value to this gathering and propels our industry forward.

Stay tuned for more insights from the Global Summit. Looking for more information? Contact us here.

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‍Learn more about our sponsors

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INNOVATOR  

• Impartner: Impartner is a leading provider of partner relationship management and marketing automation solutions, enhancing indirect sales channels' revenue and profitability with best practices and automation.

VC SHOWCASE

• WestWave Capital: As a venture capital firm, WestWave Capital specializes in empowering early-stage enterprise software companies, focusing on sectors like AI, Cloud Infrastructure, and Security.

• Z5 Capital: Z5 Capital is a seed-stage venture fund that supports early-stage enterprise-focused startups in areas like Gen AI and data infrastructure, providing comprehensive support including go-to-market partnerships and advisory.

SUPPORTING

• 4B Marketing: 4B Marketing is dedicated to driving positive business outcomes with a high-touch, values-driven approach to branding and marketing for technology channels.

• GTDC: The Global Technology Distribution Council (GTDC) is an industry association representing the world’s leading technology distributors, advocating for the channel's value in delivering IT solutions globally.

• Stratascale: An SHI Company, Stratascale offers digital and cybersecurity services to Fortune 1000 companies, aiming to transform their use of technology to drive business, enhance revenue, and adapt quickly to market changes.

• Visionet: Visionet is a leading provider of digital technology solutions with a focus on disruptive innovation, serving global enterprises across various industries with strategic technology partnerships.

• NinjaOne: NinjaOne is a unified IT operations platform that simplifies endpoint management for MSPs and IT departments, enhancing efficiency and user satisfaction through automation and support.

TECHNOLOGY ACCESS

• AutoAlign: AutoAlign provides robust AI guardrail systems through its innovative Sidecar technology, enabling businesses to deploy advanced AI solutions securely and effectively.

• Cloudflare: Cloudflare, Inc. is a premier connectivity cloud company that enhances security and performance across organizational networks, applications, and teams, reducing complexity and costs.

• Cradlepoint: Now part of Ericsson, Cradlepoint offers Enterprise Wireless Solutions that enable organizations to innovate and operate anywhere, supported by Ericsson NetCloud and Enterprise 5G solutions.

• edgeTI: edgeTI delivers real-time digital operations software, edgeCoreTM, which helps organizations maintain situational awareness and accelerate actions by integrating various software applications and data sources into a Digital Twin of the Enterprise.

• Maxar Intelligence: Maxar Intelligence provides secure, precise geospatial intelligence that helps government and commercial customers monitor and understand our changing planet efficiently and cost-effectively.

• Natoma: Natoma is a platform designed to secure and manage non-human identities (NHIs), offering comprehensive solutions for discovery, management, and lifecycle control of NHIs to enhance security and compliance.

• Savvy Security: Savvy Security offers a modern SaaS security platform with an identity-first approach, specializing in visibility into SaaS usage and risk, and mitigating identity-related security vulnerabilities.

• SlashNext: SlashNext protects organizations worldwide from cyber threats like BEC and phishing across various communication channels with its advanced AI-driven security platform, ensuring high accuracy and extensive coverage.

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