In the AI Risk Reward podcast, our host, Alec Crawford (@alec06830), Founder and CEO of Artificial Intelligence Risk, Inc. aicrisk.com interviews guests about balancing the risk and reward of Artificial Intelligence for you, your business, and society as a whole. Podcast production and sound engineering by Troutman Street Audio. You can find them on LinkedIn and at troutmanstreetaudio.com. You can hear the difference.

In this episode of the AI Risk Reward Podcast, host Alec Crawford welcomes Alex Harmsen, the CEO and founder of Portfolio Pilot. Alex shares his fascinating journey from aspiring astronaut and working on NASA's Mars helicopter project to leading an autonomous vehicle company, and finally venturing into the world of consumer FinTech. With a strong background in engineering, physics, and economics, Alex discusses how his passion for modeling complex systems has driven his diverse career. He highlights the importance of mentorship, lifelong learning, and hiring experts in various fields. Alex also introduces Flight Club, a platform connecting pilots with planes and passengers, and delves into the origin and development of Portfolio Pilot. This AI-driven financial advisory firm has rapidly grown, now serving 30,000 users and managing $30 billion in assets. The episode provides valuable insights into the transformative role of AI in finance and the potential challenges and opportunities it presents.

Summary:

• Guest Background: Alex Harmsen is the CEO and founder of Portfolio Pilot. He has a diverse background, having studied engineering, physics, and economics. Alex initially aimed to become an astronaut and worked at NASA on the Mars helicopter project. He also ran an autonomous vehicle company before venturing into consumer FinTech with Portfolio Pilot.
• Transition from Physics to AI and Finance: Alex discussed his journey from studying physics and working on autonomous vehicles to founding an AI-driven financial advisory firm. He emphasized his interest in modeling complex systems, whether in physics, autonomous vehicles, or the global economy, and how this skillset transitioned smoothly to finance.
• Mentorship and Learning: Alex talked about the importance of having multiple mentors throughout his career. He shared insights from various mentors, including an astrophysicist who taught him to be authentic and a computer vision expert who significantly contributed to his AI expertise. He highlighted the value of lifelong learning and hiring people with more expertise.
• Flight Club Initiative: Alex briefly mentioned Flight Club, a platform that connects pilots with planes and passengers, similar to the Airbnb model for aircraft sharing. This initiative aims to make flying more accessible and affordable by sharing the costs of aircraft ownership and fostering a community among pilots and aircraft owners.
• Origin and Development of Portfolio Pilot: Alex explained the origin story of Portfolio Pilot, which started as a personal tool for managing his finances. After selling his previous company, he focused on creating a comprehensive financial advisory system that integrates various accounts and provides personalized investment strategies. The company has grown rapidly, now serving 30,000 users and managing $30 billion in assets.

Movies/TV shows:

• A Beautiful Mind
• Black Mirror

Companies:

• Portfolio Pilot
• NASA
• Iris Automation
• Bridgewater
• OpenAI
• Plaid
• Yodlee
• SnapTrade
• Flight Club
• Devon
• Artificial Intelligence Risk, Inc.

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