Exploring the Future of Personalized AI w/ Lotic CEO Bill Welser

Gene Tunny interviews William ‘Bill’ Welser IV, the visionary behind Lotic, an AI startup designed to transform personal data into actionable insights while protecting user privacy. Bill discusses how Lotic’s AI-powered digital companion is designed to help users make better decisions, improve mental health, and understand their behavior patterns. The episode dives into ethical considerations, data security, and the economic implications of widespread AI adoption. Please let Gene know your thoughts on this episode by emailing him at contact@economicsexplored.com.TimestampsIntroduction (0:00)Bill Welser's Vision for Lotic AI (3:14)Data Collection and User Interaction (6:18)Behavioral Insights and Health Applications (14:20)Privacy and Legal Considerations (32:51)User Demographics and Market Reach (34:58)Startup Journey and Future Plans (44:12)TakeawaysPersonalized AI as a Digital Companion: Lotic aims to transform individuals from passive data subjects into active agents by providing personalized insights. The AI helps users understand themselves better, make small behavioral changes, and potentially improve mental health, relationships, and job satisfaction.Privacy and Ethical Data Collection: Bill Welser emphasizes a deliberate, privacy-first approach to data collection. Lotic uses advanced cryptography, blockchain technology, and user-controlled data sharing to protect personal information, ensuring users have agency over their data and insights.Potential Economic Impact of AI: Welser suggests that as AI disrupts traditional job markets, individuals could leverage their personal data as a form of currency. He believes creating comprehensive, discrete personal data sets could help mitigate potential unemployment waves and provide new economic opportunities for people.Links relevant to the conversation Lotic website: https://www.lotic.ai/ CEO Magazine profile of Bill Welser IV: https://digitalmag.theceomagazine.com/william-welser-iv/?r=global Everybody Lies: Big Data, New Data, and What the Internet Can Tell Us about Who We Really Are https://www.amazon.com.au/Everybody-Lies-Internet-About-Really/dp/0062390856Lumo Coffee promotion 10% of Lumo Coffee’s Seriously Healthy Organic Coffee. Website: https://www.lumocoffee.com/10EXPLORED Promo code: 10EXPLORED  Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.