As cofounder of UiPath, Daniel Dines knows generative AI will be a massive part of the Romanian automation giant’s future.
But for now, Dines uses it to write poetry.
“It helps to calm me down,” Dines tells Sifted.
“If I write a poem [...] I can use ChatGPT to help me rephrase some of the things, give me some ideas, wording. It’s not bad"
UiPath is arguably one of the biggest success stories of European tech. Launched in Romania in 2005, the robotic automation SaaS startup raised over $1bn from leading global VCs, including Sequoia, Accel, Tiger Global and Coatue, before eventually listing on the New York Stock Exchange in 2021 for just shy of $36bn.
But Dines isn’t done yet. Now he plans to tap the GenAI wave.
“We see [the use case] for generative AI around personal space and personal productivity. We think we can bring it into automated end-to-end processes,” he says.
For example, applying for a mortgage. AI could be used to classify an email request from a client, download any attachments, extract and analyse the relevant data, connect to banks for credit scores and, finally, compose an email reply to the customer.
“A mortgage officer at a bank just needs to review all the data that was prepared by the combination of generative AI and specialised AI plus automation,” he says.
That said, utilising GenAI may not be as simple as it sounds.
“To make it a reality, it’s really hard work. Generative AI is fragile, hallucinatory and automation needs reliability and predictability.”
Dines said that UiPath is actively looking for interesting startups to acquire in the process automation and GenAI space.
He has also recently announced that he’s going to step aside as the company’s CEO at the end of the year to take on a new role as chief innovation officer.
“I’m not stepping down […] I might be even more engaged because I [get to do things] I like more,” he says.
Dines will continue to be the executive chairman of the company’s board and will keep his controlling stake in UiPath.
“It’s actually a privilege that only founders of companies have. I can now optimise my time to where I feel I’m the most impactful,” he says.
Rob Enslin, who’s currently the company’s co-CEO, will remain in the position.
“I took this business to one billion, he has to take it from one to five,” Dines says. “It’s a very different business.”