Chris Birrell, an investor specializing in API startups, shares his insights on what he looks for before investing in API-enabled services. He discusses his background in computer science and his experience in the tech industry, which led him to become an investor. Chris introduces the 'SUPERIOR' Framework that he uses to evaluate API startups, focusing on attributes such as solving difficult problems, uncovering unique solutions, and pathways to profitability and exit. He also highlights the opportunities and challenges in the API space, particularly in the context of AI and globalizing businesses.


Keywords
API startups, investing, API-enabled services, Superior Framework, solving difficult problems, unique solutions, pathways to profitability, AI, globalizing businesses


Takeaways

• Investors in API startups look for companies that solve difficult problems in a scalable and economically viable way.
• The 'Superior Framework' is a matrix that evaluates attributes such as problem-solving, uniqueness, profitability, ecosystem, regional focus, impact, ownership, and regulatory tailwinds.
• APIs play a crucial role in the future of software development, particularly in the context of AI, blockchain, and IoT ecosystems.
• API startups need to consider the challenges of being substituted by competitors and focus on creating a compelling product and having outstanding founders.
• APIs that facilitate globalizing businesses and address specific regional challenges can provide unique opportunities.
• API startups should aim to be essential to the priorities and budgets of CIOs, especially in the context of increasing investments in AI.

Sound Bites

• "The API or the API platform needs to be solving a difficult problem in a very narrow and deep way."
• "Uncovering unique and novel solutions is a leading indicator of something important."
• "You've got to have a compelling enough product that doesn't stop those guys from spending money."

Chapters

00:00 Introduction: Investing in API Startups
07:08 The Role of APIs in the Future of Software Development
12:30 The 'SUPERIOR' Framework for Evaluating API Startups
20:47 Mitigating the Risk of Substitution in API Business Models
22:36 Insights from the apidays Singapore Conference
24:02 The Importance of Being Essential to CIO Priorities and Budgets
25:24 Conclusion and Contact Information

In this conversation, Jon Scheele interviews Abhijit Dey, VP of API Banking at Axis Bank, about Open Banking and Embedded Finance in India. They discuss the growth of Open Banking in India, the role of APIs in the banking industry, and the impact of digital transformation on customer experience. Abhijit shares his insights on the future of Open Banking, the importance of API governance, and the skills required to be an API Product Manager.

Keywords
open banking, embedded finance, India, APIs, digital transformation, customer experience, API product manager

Takeaways

• Open banking is growing in India, with banks becoming API-first and adopting digital public infrastructure to increase financial inclusion.
• APIs are becoming a revenue stream and a way to offer hyper-personalized customer experiences.
• API product managers need to have a technical understanding of APIs and a design thinking mindset to identify and solve customer problems.
• Success metrics for API product managers include adoption, revenue generation, and customer engagement.
• The future of open banking depends on API governance and the ability to build APIs that address specific use cases.
• Aspiring API product managers should learn how APIs work and focus on customer-oriented innovation.

Sound Bites

"APIs will be created or technologies will be built in the blink of an eye."
"API Sprawl: The more digitized our ecosystems are getting, the more we are building APIs."
"The future of open API banking is very bright."


Chapters

00:00 Introduction: Open Banking and API Banking in India
04:08 Setting up the API Function at Axis Bank
07:01 The India Digital Stack and its Impact on the Indian Economy
12:43 The Future of Open Banking and API Banking
26:51 The Importance of Governance and Framework in API Banking
30:35 Building a Career as an API Product Manager

Link to Abhijit’s presentation at apidays Singapore 2024:

API Productisation: Shift RIGHT to better product resilience
https://www.youtube.com/watch?v=wOy5vCS7kAY


Links to Abhijit’s articles:

Roles of API product managers beyond the conventional product management responsibilities
https://www.linkedin.com/pulse/roles-api-product-managers-beyond-conventional-management-abhijit-dey/

The Red Flags of API Sprawl: What to Watch For
https://www.linkedin.com/pulse/red-flags-api-sprawl-what-watch-abhijit-dey-o5hxf/

Untangling API Sprawl: Understanding the Causes of Integration Chaos
https://www.linkedin.com/pulse/untangling-api-sprawl-understanding-causes-integration-abhijit-dey-ytoaf/

Aki Ranin, co-founder of Bambu, and currently CTO of Goldberry Wealth, discusses the interconnection between AI and APIs. He shares his journey in the AI data science space and explains how AI and APIs are intricately linked. Aki highlights the potential of large language models and AI agents in transforming industries and making AI-assisted tasks more efficient. He also discusses the challenges of discoverability and the importance of metadata in making information accessible to AI agents. Aki provides recommendations for individuals looking to understand the trajectory of AI and APIs.

Keywords

AI, APIs, data science, large language models, AI agents, discoverability, metadata

Sound Bites

"AI and APIs are intricately interwoven"

"Moving from small chat bots to embodied AI systems"

"Building for consumption by AI agents"

Chapters

00:00 The Interconnection of AI and APIs

07:22 The Potential of AI-Assisted Financial Planning

13:50 Integrating Large Language Models and AI Agents

26:14 Staying Ahead in the AI and API Space