Steve has a very technical business (analytics and data engineering), so the tips on using AI are really helpful. But what really caught my eye is how he finds and keeps his team of OFS engineers and analysts.

I responded a couple of years ago on how well things have worked with our OFS a long time ago  We now have a world-class group of data and financial engineering analysts.  We hire often engineers who want to learn data analytics. They work out great as they have an innate curiosity and a well-developed sense of logic that enables them to learn quickly.  They’re completely bewildered for about the first 6 months and when the light comes on just get out of their way.

Anyway, back to the main topic.  We source and employ AI all over our business.  Here are just a few examples:
– ChatGPT: Training, Research, and Coding.  As for coding, ChatGPT is pretty good at converting one code base to another (Python to C).  It is also pretty good at writing all the structural stuff in code but not very good at the hard-core math we do.  Basically, ChatGPT has automated about 75% of the code we write.  It’s also helped coders go from zero to proficient very quickly without constantly having to ask questions of others.
– Products for banking customers:  We are an “Analytics as a Service” company.  We use AI a lot in analyzing some of the most challenging customer problems.  We have established ourselves as a clear leader in our market when it comes to the use of AI.  Here are just a couple of examples:
– Bank Profitability Optimization:  Using AI to determine if the bank is operating at peak performance considering a myriad of market, operational, and regulatory constraints. We’re the only group in the world offering this.
– Strategic Decision Making: Clearly knowing the step above helps out here tremendously.
– Tactical Decision Making: Identifying where things are not working well so you can fix them.  This is constantly a huge shock to managers as we regularly uncover issues they did not know were problems.

Finally, just a comment on managing OFS resources.  We’ve only lost one employee in 5 years and that was because he had a chance to go back to school (in Canada.)  That said, we speak directly to the entire crew DAILY.  Sometimes it only last 5 minutes, sometimes it lasts a couple of hours and we might only talk about non-business stuff.  Basically, we don’t have a water cooler, break room, or the opportunity to go to lunch.  Employers need to understand that you should not make every engagement about work.  Personal relationships are just as important as business so making them feel valued in multiple facets is critical. Culture is everything.

Even though Steve hires experienced engineers, he still gives them training. He looks for people who are eager to learn.

The training transforms them from individuals who know how to do their jobs into a world-class team.

Also, if you noticed that he communicates with his OFS team daily.

We do it through daily reports because that’s what we prefer.

They do daily calls, and it works for them.

The way you communicate with your OFS doesn’t matter, the important thing is you communicate with them regularly.