What happens to investment alpha when AI can conduct dozens of expert interviews in the time it traditionally takes to schedule a handful?
In this episode of Invest With AI, Brett Caughran and Khe Hy sit down with Sagar Kadakia, founder of Qualitate, to explore how artificial intelligence is transforming expert networks, channel checks, and the way investors generate proprietary insights.
Traditional expert networks have long played an important role in fundamental investing. But sourcing experts, coordinating schedules, conducting calls, and synthesizing insights can be both time-consuming and expensive.
Qualitate is taking a different approach.
Its AI-powered interviewers automate much of the primary research process, allowing investors to conduct more interviews, automate recurring channel checks, and build research around their investment theses.
But as primary research becomes faster, cheaper, and more accessible, a bigger question emerges: Does AI create a new source of investment edge, or does it accelerate the commoditization of information?
We get into:
Scaling Primary Research Beyond Traditional Expert Calls
AI-powered interviewing removes many of the scheduling and logistical barriers associated with traditional expert networks. Investors can conduct dozens of interviews across companies and industries without being limited by the availability of human interviewers.
Automating Channel Checks and Building on Previous Research
Rather than starting from scratch each quarter, Qualitate's AI interviewer can retain context from previous interviews, track changes in demand and pricing, and ask follow-up questions informed by earlier conversations.
The Changing Economics of Investment Alpha
As proprietary research becomes faster and more accessible, the advantage may shift from simply obtaining information to asking better questions, building more effective research systems, and acting on insights faster than competitors.
Balancing AI Efficiency with Human Judgment
AI doesn't necessarily eliminate the need for human-led expert calls. Instead, it can help investors expand their research coverage while reserving their time for conversations and decisions where human judgment matters most.
Compliance and Research Quality in an AI-Driven World
The conversation also examines how Qualitate approaches expert authentication, potential AI-generated responses, and material nonpublic information (MNPI), including transcript reviews and compliance safeguards.
Chapters (Timestamps)
00:00 Intro: Can AI Transform Expert Networks?
00:55 Introducing Sagar Kadakia and Qualitate
01:28 The Origins of Qualitate
05:02 The Breakthrough in AI Voice Technology
08:31 Human Judgment vs. AI Interviewing
14:37 Automating Channel Checks and Protecting Research
19:23 Using Existing Research to Improve AI Interviews
21:13 How Qualitate Works: From Research Question to Insights
24:44 Removing the Scheduling Bottleneck
26:32 Preventing Fraud and AI-Generated Expert Responses
29:37 MNPI and Compliance Safeguards
35:10 Quantitative Investors and the Future of Alpha
37:49 Will AI Commoditize Investment Research?
40:52 Can Expert Supply Keep Up?
43:28 Building an AI-Powered Research Library
46:53 When Investment Alpha Becomes Beta
49:05 Why Speed and Better Questions Matter
54:13 The Future of AI-to-AI Conversations
57:32 Scaling Qualitate and Building an AI Business
1:01:40 Final Thoughts: The Future of Investment Research
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