Shay Banon has been fascinated with search ever since he tried to build a recipe app for his wife in 2004, a journey that led him to write the first few lines of code of Elasticsearch (an open source search and analytics engine) in 2009 and start Elastic in 2012. The San Francisco-based firm is a fast-growing platform for search-powered solutions. “We help everyone — organisations, their employees, and their customers — find what they need faster, while keeping applications running smoothly, and protecting against cyber threats,” said the founder & CTO at Elastic. On a recent visit to India, Banon shared his perspectives with Sudhir Chowdhary on Gen AI’s economic potential and the engagement of the Indian open source community in shaping Elastic’s product roadmap. Excerpts:
As an entrepreneur, where does your passion lie?
I find technology’s diverse facets fascinating. The continuous innovation, as demonstrated by generative AI (GenAI), propels us into transformative years ahead while the current complexity of artificial intelligence adds an element of mystery and excitement to the technological landscape.
My most significant contribution lies in the creation of Elasticsearch, which, in my opinion, stands as one of the most successful open-source projects globally. In India, Elasticsearch, or ELK stack, has become deeply ingrained in the landscape of IT companies. It is pervasive and widely adopted, with professionals shaping entire careers and companies basing their products on this technology.
What is the economic potential of GenAI for businesses?
The integration of AI presents a signifi-cant opportunity for business efficiency and growth, particularly in burgeoning sectors. For instance, the transition from 10% to 80% online commerce, facilitates faster consumer transactions and streamlined information retrieval. Intelligent systems manage infrastructure and enhance security, freeing up space within businesses. In the rapidly evolving Indian market, the critical role of Gen AI emerges as key for the nation’s success.
Elastic enables Gen AI to power the search boxes by making it a hundred times better for the users. From government websites to BFSI institutions to e-commerce applications, every sector uses the search box around 200 times a day and hence we ensure the utmost user experience.
What role does India engineering and innovation centre play in the overall product roadmap for Elastic?
Our India facility plays a key role in our distributed operations, engaging individuals globally who contribute to our software. India stands out not just for market dynamics but also for the remark-able talent contributing to our software. India’s enthusiasm for Elasticsearch stack positions it among our top three open source communities worldwide. With a global estimate of over four billion downloads of the software, India likely contributes 15-20% which is over 2,00,000, emphasising its substantial presence in the technology landscape.
How does Elastic engage with its open source community?
Accessibility is paramount in the open-source landscape, notably on platforms like GitHub. Tools such as Elasticsearch exemplify this accessibility, providing clear pathways for bug reporting, issue tracking, and community engagement. The commitment to support is a shared trait across various open-source tools, reflecting a consistent investment in collaborative environments. As the open-source culture evolved, practices became standardised, making engagement more intuitive. Additionally, sustained community involvement is achieved through events like ElasticOn conferences, Meetups, and office invites, fostering discussions, demonstrating user care, and establishing connections with users and companies.
What is the company’s future roadmap and long-term strategy?
Our motto at Elastic is “Centralise complexity and distribute simplicity.” Therefore, the overarching goal is to establish an enduring company that values its roots, remains open to continuous innovation, and excels in adapting to evolving market dynamics. Embracing the transformative era of Gen AI, we focus on simplifying complexities, allowing users to innovate swiftly.