Welcome to the Fear and Greed Business Interview. I'm Sean Aylmer. Smart home devices have boomed in recent years, with nearly eight million Australian households now owning at least one product. Thirty four percent of Australians say they use these devices for safety or security. One of the most recognisable devices would be the Ring. That's a ring video doorbell, letting you see who's at the door, or whether a parcel's arrived, or pretty much anything really from anywhere in the world. In fact, Dave Ward is the managing director International at Ring, which is a great supporter of this podcast. Dave is visiting Australia from the UK at the moment, and he joins me in the studio. Dave, welcome to Fear and Greed.

Welcome to the Fear and Greed Business Interview. I'm Sean Aylmer. Smart home devices have boomed in recent years, with nearly eight million Australian households now owning at least one product. Thirty four percent of Australians say they use these devices for safety or security. One of the most recognisable devices would be the Ring. That's a ring video doorbell, letting you see who's at the door, or whether a parcel's arrived, or pretty much anything really from anywhere in the world. In fact, Dave Ward is the managing director International at Ring, which is a great supporter of this podcast. Dave is visiting Australia from the UK at the moment, and he joins me in the studio. Dave, welcome to Fear and Greed.

Great to be here.

Great to be here.

So why are we all into home security products nowadays?

So why are we all into home security products nowadays?

Well, I mean, look, here's the first thing. I mean, Aussies are really savvy you know, when I look at the niche and over here and how people use technology, you're really into your technology. And as you mentioned, nearly eight million people now are using one form or another of a smart device. You know, you mentioned things like burglary safety, security. People are obviously thinking about how they connect back to their home, you know, how they keep the home a little bit safer, but also how they'll use this technology for other things. It's not just about security and safety, it's also peace of mind. It's connecting back to the magic moments when you're out on the road like I am at the moment.

Well, I mean, look, here's the first thing. I mean, Aussies are really savvy you know, when I look at the niche and over here and how people use technology, you're really into your technology. And as you mentioned, nearly eight million people now are using one form or another of a smart device. You know, you mentioned things like burglary safety, security. People are obviously thinking about how they connect back to their home, you know, how they keep the home a little bit safer, but also how they'll use this technology for other things. It's not just about security and safety, it's also peace of mind. It's connecting back to the magic moments when you're out on the road like I am at the moment.

Okay, what about things that? I mean I often wonder whether ecommerce has made a big difference to businesses like yours simply because everyone ...I've got a household of ten people and they're always buying stuff online, and they're always sending a WhatsApp message to everyone saying, hey, is anyone going to be home at because and inevitably we're not. I don't actually have one of your products, but I'd imagine that's actually why I would get one.

Okay, what about things that? I mean I often wonder whether ecommerce has made a big difference to businesses like yours simply because everyone ...I've got a household of ten people and they're always buying stuff online, and they're always sending a WhatsApp message to everyone saying, hey, is anyone going to be home at because and inevitably we're not. I don't actually have one of your products, but I'd imagine that's actually why I would get one.

Absolutely. So you know, you mentioned security to start with. Peace of mind is certainly a big thing as to why people use it. I mean, thirty four percent of people talk about how they want to take a package delivery and be able to answer that from their phone wherever they are. You know, we certainly saw during COVID as people were staying at home more people were buying and shopping online a little bit more people wanted that ability to be able to answer that door and be able to connect back. So yeah, with technology that we've now got in our devices, with computer vision and AI, we can detect whether it's a parcel at your door, send you a notification, allow you to keep an eye on it, but importantly be able to talk back to whoever's there and you know, maybe give them some instructions that you couldn't do otherwise.

Absolutely. So you know, you mentioned security to start with. Peace of mind is certainly a big thing as to why people use it. I mean, thirty four percent of people talk about how they want to take a package delivery and be able to answer that from their phone wherever they are. You know, we certainly saw during COVID as people were staying at home more people were buying and shopping online a little bit more people wanted that ability to be able to answer that door and be able to connect back. So yeah, with technology that we've now got in our devices, with computer vision and AI, we can detect whether it's a parcel at your door, send you a notification, allow you to keep an eye on it, but importantly be able to talk back to whoever's there and you know, maybe give them some instructions that you couldn't do otherwise.

You're talking about Australia. Is this a global phenomenon?

You're talking about Australia. Is this a global phenomenon?

Oh, absolutely. So, we founded the business over ten years ago in Santa Monica. We really built the first video doorbell and created this technology. But now we're rolling out. We've got over fifty devices in five different categories and around about thirty different countries around the world. So it really is a global phenomenon about how people want to connect back to, probably their most valuable asset, their home and really keep an eye on what's going on and you know, just be there more.

Oh, absolutely. So, we founded the business over ten years ago in Santa Monica. We really built the first video doorbell and created this technology. But now we're rolling out. We've got over fifty devices in five different categories and around about thirty different countries around the world. So it really is a global phenomenon about how people want to connect back to, probably their most valuable asset, their home and really keep an eye on what's going on and you know, just be there more.

So we'll talk about the one you're launching this week in a moment after the break, but ahead of that, what are some of the devices you're talking about.

So we'll talk about the one you're launching this week in a moment after the break, but ahead of that, what are some of the devices you're talking about.

So we've got a range of video doorbells, We've got a range of cameras. We've got cameras with lights. So when I think about security, security is not just about being able to keep an eye on those things. It's about lighting those dark places. Maybe you've got and alley down the side of the house that you want to make sure you light up. You know, we've got various different products and services that we offer a different type of device to apply to every type of home. I mean, we're all unique, we all live in different types of houses, and that's really about how we're customer centric. We want to make sure there's a product for your home to be able to do the right things for you.

So we've got a range of video doorbells, We've got a range of cameras. We've got cameras with lights. So when I think about security, security is not just about being able to keep an eye on those things. It's about lighting those dark places. Maybe you've got and alley down the side of the house that you want to make sure you light up. You know, we've got various different products and services that we offer a different type of device to apply to every type of home. I mean, we're all unique, we all live in different types of houses, and that's really about how we're customer centric. We want to make sure there's a product for your home to be able to do the right things for you.

Okay, the flip side of this, Social media is full of examples of filming of things that maybe you were supposed to capture, from criminal to personal. How do you kind of address those sorts of concerns.

Okay, the flip side of this, Social media is full of examples of filming of things that maybe you were supposed to capture, from criminal to personal. How do you kind of address those sorts of concerns.

Well, that's a great question because I think privacy, security, you know, it's fundamental to everything that we do. It's we don't think about designing or developing a product until we thought about how we can make sure that our devices take that into account. So we've got a lot of different features inside our products. So for instance, we've got some blackout zones which allow us to black out particular areas of your video. Maybe you're looking over a particular area, maybe it's a neighbor's drive, where you can block that out and we don't even then record that. We've got the ability with motion detection to be able to detect where motion is on your property, so you're only recording when somebody comes onto your property as a good example. And then we've got features such as audio toggle where you can actually turn off audio recording, you know, and really makes it simple for the customer to be able to customise their product for exactly their installation and make sure they're thinking about those things.

Well, that's a great question because I think privacy, security, you know, it's fundamental to everything that we do. It's we don't think about designing or developing a product until we thought about how we can make sure that our devices take that into account. So we've got a lot of different features inside our products. So for instance, we've got some blackout zones which allow us to black out particular areas of your video. Maybe you're looking over a particular area, maybe it's a neighbor's drive, where you can block that out and we don't even then record that. We've got the ability with motion detection to be able to detect where motion is on your property, so you're only recording when somebody comes onto your property as a good example. And then we've got features such as audio toggle where you can actually turn off audio recording, you know, and really makes it simple for the customer to be able to customise their product for exactly their installation and make sure they're thinking about those things.

So in a sense, it's a personal responsibility. So what you need is the owner of the product to be responsible.

So in a sense, it's a personal responsibility. So what you need is the owner of the product to be responsible.

Yeah, and we see that that people want to be that as well, because I think you know, generally everyone wants to be a really good neighbor. But importantly, when you configure and set this device up in the right way for your particular property, you get the best experience. You want to make sure you get notifications for the things that matter, so things like motion zones. Making sure that you've got a setup to detect your property is super important. They're the things that are important to you.

Yeah, and we see that that people want to be that as well, because I think you know, generally everyone wants to be a really good neighbor. But importantly, when you configure and set this device up in the right way for your particular property, you get the best experience. You want to make sure you get notifications for the things that matter, so things like motion zones. Making sure that you've got a setup to detect your property is super important. They're the things that are important to you.

Staying with me, Dave, I want to talk to you about AI and a big announcement from RING. We'll be back in a moment.

Staying with me, Dave, I want to talk to you about AI and a big announcement from RING. We'll be back in a moment.

I'm talking to Dave Ward from smart home security company RING. You are in Australia to talk about AI. So explain how Ring's using AI in your latest technology.

I'm talking to Dave Ward from smart home security company RING. You are in Australia to talk about AI. So explain how Ring's using AI in your latest technology.

Absolutely. So, artificial intelligence has been really at the heart of what we've been doing since we built the company. We've got really advanced computer vision technology which allows us to do particular types of detection, so we can detect a humor versus an animal or a car for instance, or a package and give you that type of notification. But AI for us is really about advancing things for the customer. So you know, we have lots of customers around the world that have told us around the things that they use their devices for. So we've announced just today our smart video Search. This is a new feature which allows us to combine AI and computer vision, to I allow you to use a large language model and actually search for things inside your videos. It's super powerful, it's super inquisitive, and it really just brings the product to life to be able to find that those magic things that you necessarily didn't see previously because you didn't notice them. So, you know, great feature that really sort of brings out a use of AI and see computer vision in a way that really resonates with customers.

Absolutely. So, artificial intelligence has been really at the heart of what we've been doing since we built the company. We've got really advanced computer vision technology which allows us to do particular types of detection, so we can detect a humor versus an animal or a car for instance, or a package and give you that type of notification. But AI for us is really about advancing things for the customer. So you know, we have lots of customers around the world that have told us around the things that they use their devices for. So we've announced just today our smart video Search. This is a new feature which allows us to combine AI and computer vision, to I allow you to use a large language model and actually search for things inside your videos. It's super powerful, it's super inquisitive, and it really just brings the product to life to be able to find that those magic things that you necessarily didn't see previously because you didn't notice them. So, you know, great feature that really sort of brings out a use of AI and see computer vision in a way that really resonates with customers.

So give me an example. Are you sort of saying that there's a period from nine am when I've left the house again at six pm and there is something that is in the driveway, or you know, if something's happened and you're interested in finding it when that happened?

So give me an example. Are you sort of saying that there's a period from nine am when I've left the house again at six pm and there is something that is in the driveway, or you know, if something's happened and you're interested in finding it when that happened?

Yeah, So you can literally go in with smart video search and search for anything. So let's say I'm searching for the moment I know my child was riding the bike for the first time. I can just go in and actually search for children riding a bike, and we'll automatically look through those videos and serve to you those clips of children riding the bike on a particular device. Maybe I'm looking for the delivery driver that came on Wednesday with a package, and we'll be able to narrow that down immediately and show you the clip. There's no scrolling through the clips. There's no going backwards through your history. We can just pick out that moment. It's incredibly powerful. I mean it's wild what you find. Some of the things that you know, I found when I started to search on my devices, I was like wow, I didn't know that was happening, and it's just magic.

Yeah, So you can literally go in with smart video search and search for anything. So let's say I'm searching for the moment I know my child was riding the bike for the first time. I can just go in and actually search for children riding a bike, and we'll automatically look through those videos and serve to you those clips of children riding the bike on a particular device. Maybe I'm looking for the delivery driver that came on Wednesday with a package, and we'll be able to narrow that down immediately and show you the clip. There's no scrolling through the clips. There's no going backwards through your history. We can just pick out that moment. It's incredibly powerful. I mean it's wild what you find. Some of the things that you know, I found when I started to search on my devices, I was like wow, I didn't know that was happening, and it's just magic.

Well, so you're starting to roll that out in Australia now.

Well, so you're starting to roll that out in Australia now.

Absolutely so rolling out from today. Customers will be able to use this with a Home Premium subscription. They can log in and be able to set this up for any one of their devices and very quickly start searching for things that are happening in and around their home using our great technology which is powered by AI and computer vision.

Absolutely so rolling out from today. Customers will be able to use this with a Home Premium subscription. They can log in and be able to set this up for any one of their devices and very quickly start searching for things that are happening in and around their home using our great technology which is powered by AI and computer vision.

You just mentioned in and around your home now, I always think of this as a door bell, but it's far greater than that. Head do people use it mostly.

You just mentioned in and around your home now, I always think of this as a door bell, but it's far greater than that. Head do people use it mostly.

Well, I mean often people come in from a single device. They're buying a doorbell for instance. You know you talked earlier about they want to think about what's happening at their door. You know, it tends to be the place that people interact with the home. Or maybe they're buying a camera, maybe they're looking for that over their backyard, for instance. But once you have one, you start to see why I could use it in this different way. Maybe now I want one on my driveway. Maybe I now want one that's you know, maybe inside the home for when I'm out and about. Maybe it's one to keep an eye on the play room, for instance, and users that digital referee when the children are playing. So people are using it for various different things. And you start with one, you tend to get more. Thing about our devices is they all work seamlessly together, so you can connect these together. You can say if motion detects on one and start recording on another, for instance. And now with smart video search, I don't need to go into each device. I can literally search across all of them, find that magic moment, and 'hey presto' deliver it within seconds.

Well, I mean often people come in from a single device. They're buying a doorbell for instance. You know you talked earlier about they want to think about what's happening at their door. You know, it tends to be the place that people interact with the home. Or maybe they're buying a camera, maybe they're looking for that over their backyard, for instance. But once you have one, you start to see why I could use it in this different way. Maybe now I want one on my driveway. Maybe I now want one that's you know, maybe inside the home for when I'm out and about. Maybe it's one to keep an eye on the play room, for instance, and users that digital referee when the children are playing. So people are using it for various different things. And you start with one, you tend to get more. Thing about our devices is they all work seamlessly together, so you can connect these together. You can say if motion detects on one and start recording on another, for instance. And now with smart video search, I don't need to go into each device. I can literally search across all of them, find that magic moment, and 'hey presto' deliver it within seconds.

So I can see this in a home environment, and I can see it in my home environment being extremely helpful and useful and security. But much more than that, what about if we take it to a business environment. I'd imagine there's all sorts of other concerns when it's in a business environment. Do people use it in businesses? And I suppose I'm thinking businesses with employees might be where it gets a bit grey, but otherwise do people use it?

So I can see this in a home environment, and I can see it in my home environment being extremely helpful and useful and security. But much more than that, what about if we take it to a business environment. I'd imagine there's all sorts of other concerns when it's in a business environment. Do people use it in businesses? And I suppose I'm thinking businesses with employees might be where it gets a bit grey, but otherwise do people use it?

Yeah, absolutely they do. I mean the great thing about our product is it's really easy to set up. And what we find as small business owners in particular, they tend to be their IT expert. They tend to be very similar to home. You know, they're starting out and they want to make sure they're using some of this technology. And traditionally CCTV and those types of technologies have been quite difficult and you know, I've needed someone to come and install it, some form of IT expert, and with RING you simply can set that up yourself and up and running very, very quickly. So we see more and more small businesses around the world, you know, including here in Australia, starting to use our devices for making sure their business is safe as well as home.

Yeah, absolutely they do. I mean the great thing about our product is it's really easy to set up. And what we find as small business owners in particular, they tend to be their IT expert. They tend to be very similar to home. You know, they're starting out and they want to make sure they're using some of this technology. And traditionally CCTV and those types of technologies have been quite difficult and you know, I've needed someone to come and install it, some form of IT expert, and with RING you simply can set that up yourself and up and running very, very quickly. So we see more and more small businesses around the world, you know, including here in Australia, starting to use our devices for making sure their business is safe as well as home.

So where do we end up in five or ten years? Could you imagine? We were talking about thirty four percent, I think was the number that I quoted at the at the beginning, saying of Australians using these sorts of devices. Do you think we end up getting a majority of people using it? Do you think it's just going to become the norm?

So where do we end up in five or ten years? Could you imagine? We were talking about thirty four percent, I think was the number that I quoted at the at the beginning, saying of Australians using these sorts of devices. Do you think we end up getting a majority of people using it? Do you think it's just going to become the norm?

Yeah, I do actually think it'll be the norm. The more you use it, the more you become to love it. You know, we often find with any of these technologies, you buy it maybe for one thing, and then you find a different thing to use it in your day to day life. You know, you might buy it for security and then then use it to keep an eye on what's happening. You know, I travel around the world. I use it to just keep an eye back at home and connecting into moments I otherwise wouldn't have seen. You know, a great example for me as I was on the road in Finland the other year, my son who was just started walking and was out in the garden and he took his first bicycle and I caught it on my device. I saved it. I've got the video on my phone. It's a moment I wouldn't have seen had I not had Ring, you know, I wouldn't have been there because I was out on the road and just having that the power of that and the emotion that you get from it is beautiful. So yeah, I do think that we'll see more and more people use this technology. It will become more prevalent in our daily lives, you know, and I think people really start to engage with it and take great fun using it as well.

Yeah, I do actually think it'll be the norm. The more you use it, the more you become to love it. You know, we often find with any of these technologies, you buy it maybe for one thing, and then you find a different thing to use it in your day to day life. You know, you might buy it for security and then then use it to keep an eye on what's happening. You know, I travel around the world. I use it to just keep an eye back at home and connecting into moments I otherwise wouldn't have seen. You know, a great example for me as I was on the road in Finland the other year, my son who was just started walking and was out in the garden and he took his first bicycle and I caught it on my device. I saved it. I've got the video on my phone. It's a moment I wouldn't have seen had I not had Ring, you know, I wouldn't have been there because I was out on the road and just having that the power of that and the emotion that you get from it is beautiful. So yeah, I do think that we'll see more and more people use this technology. It will become more prevalent in our daily lives, you know, and I think people really start to engage with it and take great fun using it as well.

Dave, thank you for talking to Fear and Greed.

Dave, thank you for talking to Fear and Greed.

Thank you.

Thank you.

That was Dave Ward at Managing Director International at RING, which is a great supporter of this podcast. This is the Fear and Greed Business Interview. Join us every morning for the full episode of Fear and Greed. Daily Business News for people who make their own decisions, I'm Sean Aylmer. Enjoy your day.

That was Dave Ward at Managing Director International at RING, which is a great supporter of this podcast. This is the Fear and Greed Business Interview. Join us every morning for the full episode of Fear and Greed. Daily Business News for people who make their own decisions, I'm Sean Aylmer. Enjoy your day.