"Being a CEO means combining my unique business perspective with the expertise of others through effective collaboration."
Udi Cohen Tweet
Udi Cohen is the CEO and co-founder of Vendict. Vendict uses AI to automate security questionnaires, specifically for information technology suppliers. Their goal is to significantly reduce the workload for enterprises of all sizes confronted with the increasingly complex requirements of compliance, risk management frameworks, and cyber risk insurance providers.
Before Vendict, he served as the Director of Software Engineering (2004-2019) and Director of AI Research (2018-2020) at Broadcom, where he led a global software organization of 100+ engineers.
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Table of Contents
We are thrilled to have you join us today, welcome to ValiantCEO Magazine’s exclusive interview! Let’s start off with a little introduction. Tell our readers a bit about yourself and your company
Udi Cohen: Thank you for having me. The root cause of most security incidents is the vendors. Therefore, companies invest a lot of time and effort in making sure that their vendors are compliant with security and privacy. In many cases, not being able to trust vendors prevents innovation and adoption of new technologies.
This is a huge burden on the vendors as well when 65% state that security compliance is a growth barrier. We use generative AI to automate the vendor risk management process.
If you were in an elevator with Warren Buffet, how would you describe your company, your services or products? What makes your company different from others? What is your company’s biggest strength?
Udi Cohen: The problem we are solving requires the generation and analysis of a lot of text. Therefore, tools today can’t provide significant value.
95% of the GRC budget is still investing in humans, and not in tools. We are the only ones that effectively use generative AI in this space.
What advice do you wish you had received when you started your business journey and what do you intend on improving in the next quarter?
Udi Cohen: I’m a doer in my nature and prefer to focus on one task. In the beginning, I was focused on building the technology with my partner, then I was focused on fundraising or selling.
An advice I wish I had received is that as a CEO I need to spend most of my time working with others because despite them being more knowledgeable and talented in their domain than me, as a CEO, I have a unique view on the business that I need to share effectively.
Here is a two-fold question: What is the book that influenced you the most and how? Please share some life lessons you learned. Now what book have you gifted the most and why?
Udi Cohen: I’m actually not much of a book reader. I prefer following research about topics I’m interested in, such as decision-making and technology.
When I read books, I often feel that the data they present is set to drive you to a certain point of view. Having said that, I think that “The Lean Startup” by Eric Ries is a great book.
Business is all about overcoming obstacles and creating opportunities for growth. What do you see as THE real challenge right now?
Udi Cohen: I think that Generative AI is a game changer in many industries. Companies that will not integrate this technology to their products and their operation will not survive.
In your experience, what tends to be the most underestimated part of running a company? Can you share an example?
Udi Cohen: Employee well-being is often underestimated. A team that’s well taken care of will go the extra mile. We once faced a critical deadline and it was the unwavering commitment of our team that got us through.
They felt valued and were willing to give their best. On the other hand, employee churn is a huge waste, because of the time and resources invested in them. Many organizations think about attrition as unavoidable.
I don’t agree with that. I think that the top contributor will stay in the company for decades if their value to the company is reflected effectively.
On a lighter note, if you had the ability to pick any business superpower, what would it be and how would you put it into practice?
Udi Cohen: If I could pick a business superpower, it would be the ability to see into the future, and predict regulatory changes accurately. I’d use this to prepare businesses for upcoming changes before they even happen, making compliance a non-issue and letting them focus solely on growth.
Jerome Knyszewski, VIP Contributor to ValiantCEO and the host of this interview would like to thank Udi Cohen for taking the time to do this interview and share his knowledge and experience with our readers.
If you would like to get in touch with Udi Cohen or his company, you can do it through his – Linkedin Page
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