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Yahoo
8 hours ago
- Business
- Yahoo
CEO of Retool, an AI company that works with BCG, says AI is here to replace labor
Retool is launching a platform for AI to automate tasks. The system, Agents, allows users to build agents on top of every large language model on the market. Retool's CEO says the launch comes as leaders ask: "How do we get LLMs to actually replace labor?" While public debates swirl around AI ethics and safety, Retool CEO David Hsu said the real conversation his clients are having is simpler: "How do we get LLMs to actually replace labor?" Retool, a platform for building AI applications that works with consulting firms like Boston Consulting Group and companies like Amazon Web Services and Databricks, has an answer. On Wednesday, Retool launched Agents, its version of AI agents. Retool's system is meant to help users build, test, and manage agents. "People are kind of scared to talk about it publicly, and actually, many of our customers even are kind of scared to talk about it publicly," Hsu told Business Insider of replacing labor. But as companies debate ways to automate jobs with large language models, they're also dabbling in the next generation. On a podcast last year, Salesforce CEO Marc Benioff said that "we're hitting the upper limits of the LLMs right now" and that the future lies in autonomous agents. Nvidia CEO Jensen Huang has said he believes we'll all be working alongside agents and "AI employees" one day. These virtual assistants don't just respond to queries or make predictions from patterns but also complete tasks autonomously by breaking down problems, outlining plans, and troubleshooting when they encounter a tough problem. 2025 has been billed as the year of agents, as companies such as OpenAI, Salesforce, and Glean have launched platforms to help people build and manage agents. Retool's Agents not only allows users to build agents on top of every large language model on the market but also tackles two areas Hsu sees as key to making agents more effective. One is building "hyperspecific" agents, Hsu said. These are more accurate than agents set up to do broad tasks like browsing the web. The second is an agent management system Hsu described as a kind of "god view" which allows users to observe what agents are doing at any given point, including past behavior. "You can micromanage agents, and they don't care if they have to be micromanaged," Hsu said. Hsu said customers were already using agents for external work like customer service. He gave an example of a company that built an agent to handle customer refunds using three tools: one to look up customers by name, another to find their latest invoice in the payments platform Stripe, and a third to issue the refund. Companies are also redesigning internal work with agents, using them as stand-ins for middle management. Some clients are using agents to analyze meetings and go back to employees and say, "Hey, actually, you didn't do well in this meeting," Hsu said. One company, he said, is even considering doing away with sales managers because the "agent manager" is giving more objective feedback. Retool's agents use a pay-by-the-hour model, starting at $3 an hour. Customers pay for agents only when they're actively working, and rates are based on the LLM they're using. That means that rather than pay for an employee, companies can outsource work to a bot for an hourly wage. The strategy reflects concerns that companies have raised about returns on artificial intelligence investment. BCG's AI Radar survey of over 1,800 C-level executives found that while 75% ranked generative AI in their top three strategic priorities, only 25% said they saw value in it. Read the original article on Business Insider Sign in to access your portfolio
Business Insider
14 hours ago
- Business
- Business Insider
CEO of Retool, an AI company that works with BCG, says AI is here to replace labor
While public debates swirl around AI ethics and safety, Retool CEO David Hsu said the real conversation his clients are having is simpler: "How do we get LLMs to actually replace labor?" Retool, a platform for building AI applications that works with consulting firms like Boston Consulting Group and companies like AWS and Databricks, has an answer. On Wednesday, Retool launched Agents, its version of AI agents. Retool's system will help users build, test, and manage AI agents. "People are kind of scared to talk about it publicly, and actually, many of our customers even are kind of scared to talk about it publicly," Hsu told Business Insider of replacing labor. But as companies debate ways to automate jobs with large language models, they're also dabbling in the next generation. On a podcast last year, Salesforce CEO Marc Benioff said, "We're hitting the upper limits of the LLMs right now," and that the future lies in autonomous agents. Nvidia CEO Jensen Huang has said he believes we'll all be working alongside agents and " AI employees" one day. These virtual assistants don't just respond to queries or make predictions from patterns; they complete tasks autonomously by breaking down problems, outlining plans, and troubleshooting when they encounter a tough problem. The year 2025 has been billed as the year of agents, as companies from OpenAI to Salesforce to Glean have launched platforms to help people build and manage agents. Retool's Agents will not only allow users to build agents on top of every large language model on the market, but also tackle two areas Hsu sees as key to making agents more effective. One is to build "hyper-specific" agents, Hsu said. These are more accurate than agents set up to do broad tasks like browsing the web. The second is an agent management system called "God View" that allows users to observe what agents are doing at any given point, including recording past behavior. "You can micromanage agents, and they don't care if they have to be micromanaged," Hsu said. Hsu said customers are already using agents for external work like customer service. He gave an example of a company that built an agent to handle customer refunds using three tools: one to look up customers by name, another to find their latest invoice in the payments platform Stripe, and a third to issue the refund. Companies are also redesigning internal work with agents, using them as stand-ins for middle management. Some clients are using agents to analyze meetings and go back to employees and say, "Hey, actually, you didn't do well in this meeting," Hsu said. One company, he said, is even considering doing away with sales managers because the "agent manager" is giving more objective feedback. Retool's agents are priced according to a pay-by-the-hour model, starting at $3 per hour. Customers only pay for agents when they're actively working, and according to the LLM they're using. That means that rather than pay for an employee, companies can outsource work to a bot for an hourly wage. The strategy reflects concerns that companies have raised about returns on AI investment. BCG's AI Radar report of over 1,800 C-level executives revealed that while 75% rank generative AI in their top three strategic priorities, only 25% said they see value in it.
AU Financial Review
a day ago
- Business
- AU Financial Review
He quit consulting. Now his AI start-up is worth $100m
A Sydney-based artificial intelligence start-up founded by former Boston Consulting Group partner Hanno Blankenstein has raised $17 million from wealthy European investors, in a deal that values the 10-year-old firm at more than $100 million. Unleash Live uses a form of AI known as computer vision to analyse the footage captured by security cameras and drones for customers including Ausgrid, BHP, Transport for NSW, and Alcoa to spot hazards and improve productivity.
CNBC
a day ago
- Business
- CNBC
Most banks are 'playing it safe' with AI, report says
CNBC's Leslie Picker joins 'Squawk on the Street' to discuss a new report from Boston Consulting Group on how banks are integrating AI into their workflows.
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First Post
2 days ago
- Business
- First Post
UK: Migrants a political problem, Starmer moots $4 bn-plan to upskill 120,000 British workers
PM Starmer has a two-pronged task ahead of him: to boost the indigenous workforce, all while clamping down on migration. Labour Party has announced that the government will increase its English-speaking requirement for overseas workers which will eventually make it harder for migrants to stay in the country read more The UK government has authorised plans to train over 120,000 builders, engineers and care workers to cut down the country's dependence on foreign labour as the Keir Starmer-led government moves to curb immigration. The administration has allocated $4.1 billion to offer new apprenticeships, according to an official release on Tuesday. A 32 per cent hike in the Immigration Skills Charge, a fee paid by employers who sponsor skilled foreign workers, is expected to fund 45,000 additional training spots in sectors like construction and social care, which rely significantly on migrant labour. The government is also supporting initiatives aimed at adult education. STORY CONTINUES BELOW THIS AD Tuesday's statement said a planned 32 per cent rise in the immigration skills charge, designed to dissuade businesses from hiring foreign workers, would deliver up to 45,000 additional training places to 'upskill the domestic workforce and reduce reliance on migration' in priority sectors. Education Secretary Bridget Phillipson said, 'We're taking our responsibility seriously providing more routes into employment.' Businesses have said they cannot hire enough staff locally, warning that the tougher rules would harm the economy unless they were accompanied by a fundamental overhaul of the country's skills training system. Britain's PM Starmer has a two-pronged task ahead of him: to boost the indigenous workforce, all while clamping down on migration. His Labour Party has recently announced that the government will increase its English-speaking requirement for overseas workers which will eventually make it harder for migrants to stay in the country. A recent analysis by Boston Consulting Group warned that the UK's supply chains could be strained by the $1.2 trillion in public and private infrastructure investment projected by the end of 2029. The report advised expanding the shortage occupations list to ease recruitment of overseas workers and suggested loosening English language requirements for key visa categories. With inputs from agencies
