LMI is entering a new era of growth. According to the CEO doug wagonerLMI is focused on honing its strategy, redefining its business areas and expanding its core capabilities in 2024, both organically and through M&A.
in new video interview In a conversation with Executive Mosaic, Wagoner shared unique insights about LMI's next steps, the company's new technology priorities, and new market opportunities.
How will AI shape the GovCon landscape in the future?
Wagoner, 5 times Wash100 Award The winners shared that artificial intelligence is one of the most influential technologies of our time and that LMI is paying close attention to its development.
“[With] The rate of adoption of AI is much faster than I expected,” he shared with Executive Mosaic video reporter Summer Myatt. “I think the first time I heard or saw ChatGPT, which is the main generative AI tool that people talk about, was probably late ’22. And then some of my engineers and data scientists started using it in the spring of ’23. By the end of the summer of '23, we had our first solution, LIGER. And by the end of that year, we were selling our solution, an artificial AI solution. I think he did.”
While the rate of adoption of such new technology may be “a little scary” to people, Wagoner said it highlights how “transformative agent” AI will continue to play a key role across government. Ta.
The future of space innovation
Wagoner said space is on par with AI as an area of truly monumental change, innovation and impact in the GovCon market. Until now, access to space and launch costs have been prohibitive for space innovation. But now, especially with the entry of commercial space companies like SpaceX, access to space is increasing and launch costs are decreasing.
“This gives us access to much more space at a much, much lower cost,” he said of the rise of commercial launch companies. “There are a lot of things you can do in space that you can't do on the ground. The overall cost of a given activity will be lower if you do it from space than if you do it on the ground.”
Although LMI has been in the space business, we have traditionally supported the back-office side of the industry. Now, LMI is moving further into the “mission side” of space and is doing so through acquisitions that expand the company's capabilities and market access.
“We were able to Acquired Synaptech, based in Colorado Springs. Space Force is their main customer. And that allows us to do work for them, including wargaming and designing future forces. We really bring credibility with these operations and are now able to launch other operations across the Space Force, Space Force, commercial space, civilian space,” Wagoner said.
clock Doug Wagoner full interview Get the latest information on AI, space trends, LMI's company outlook, and more.
