Meetings can be quite time-consuming, with many U.S. workers spending approximately eight hours per week in meetings, as reported in a 2022 survey by Deputy.com. This significant time investment has led to the rise in popularity of AI-powered summarization tools. A recent study conducted by The Conference Board revealed that nearly half of marketers are utilizing AI to summarize various forms of communication, such as emails and conference calls.
While some videoconferencing platforms now offer built-in summarization features, David Shim, the co-founder of Read AI, believes there is still a demand for third-party solutions. Shim, who previously served as the CEO of Foursquare, established Read AI in 2021 along with his colleagues Rob Williams and Elliott Waldron. The platform specializes in summarizing video calls across multiple platforms like Zoom, Microsoft Teams, and Google Meet.
Initially focusing on video meeting solutions, Read has expanded its services to include message and email summarization following a recent \(21 million funding round. By connecting to platforms like Gmail, Outlook, and Slack, Read learns relevant topics and delivers daily updates with summaries, AI-generated takeaways, and key content overviews. The company charges a monthly fee ranging from \)15 to $30 for its services.
Despite skepticism regarding AI-driven tools’ consistency in summarizing content accurately, Read AI distinguishes itself through its proprietary methodology, ensuring robust results. While concerns have been raised about the platform’s sentiment analysis tool, Shim maintains that Read prioritizes user privacy and control over data passing through the platform.
With a substantial customer base growth and a significant capital infusion, Read is poised for further expansion, aiming to double its staff to over 40 employees by the year’s end. The platform’s success lies in the tangible time-saving benefits users experience when leveraging Read AI for their meetings.
