First of all, how are you and your family doing in these COVID-19 times?
Igor Basko: Everything is going on well.
Tell us about you, your career, how you founded Fonemica AI
Igor Basko: I have 15 years in Private Banking and Wealth Management. During due diligence of the AI market, I have seen that speech technologies solutions use mostly on-premise. We have researched and decided to try to create a cloud-based speech analytics service.
How does Fonemica AI innovate?
Igor Basko: We use contemporary architecture and modern methods of acceleration AI processes.
How the coronavirus pandemic affects your business, and how are you coping?
Igor Basko: Most of our clients have moved payments long term, but we have found new niches in our market and made some pivots.
Did you have to make difficult choices, and what are the lessons learned?
Igor Basko: Yes, the first lesson is how to save your team in a difficult time and keep going. We have learned that we can be more effective even in pandemic times.
How do you deal with stress and anxiety? How do you project yourself and Fonemica AI in the future?
Igor Basko: The stress levels were high because the team was wasting positive news from the management. However, we continually motivated ourselves to maintain our team spirit.
Who are your competitors? And how do you plan to stay in the game?
Igor Basko: There are many competitors in the English language and fewer ones in other languages, but we still have our market share. We are also several times cheaper and a hundred times faster. 80% of our competitors use 3rd party technologies. We have our own stack and are flexible.
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