As a growing company in the exciting space of Enterprise AI, we had to reimagine our business models and strategy to scale better. One of the key decisions that emerged was to migrate from a services to a product business model. Serving customers with varied use cases in several industries enabled us to discover the underlying commonality of the use cases that are relevant across most customers. Forgoing some amount of customization not only allows quicker product development time but also helps leverage shared knowledge across industries to build better quality models. Being a nimble startup that is only 5 years old does help us incorporate change quickly but it is not without challenges. Today we share some insights on how we as a company are navigating this exciting challenge and why our customers should be excited about this change too!
- Deliberately choosing industries and use cases to build higher quality, targeted AI products and solutions: Operating in a services model enabled us to work with clients from a broad range of industries with varied use cases and discover our core strengths by not just delivering successful pilots but also production ready AI, a rare scenario in Enterprise AI. Moving forward, we will focus our efforts and resources on productizing use cases for industries in our areas of strength such as text extraction and summarization using NLP, providing predictive maintenance for manufacturing and others. These focused efforts enable us to deep dive into our areas of strength and free up resources from other non-critical areas for market and customer research giving us a better sense of what customers need and allowing us to build higher quality products.
- Accepting that Enterprise AI will involve some amount of services initially and starting with a hybrid model: Meeting our customers where they are is essential to build great products. A lot of industries and customers we work with such as Manufacturing, Logistics and Chemicals are still realizing the potential of AI and slowly adopting it. Some amount of services may be required for collecting and creating the right data sets in such instances, so we plan to continue providing this support for our customers. This still doesn’t move away from our focused approach – we will provide services to build products for use cases we decide on. A hybrid model not only eases the transition and standardizes our processes but allows us to provide the support for enabling AI for customers lagging behind in the technology curve.
- The new model benefits customers, both old and new: Our customers derive three key benefits in the new model – faster time to pilots and production, higher quality and lower prices. Productizing our services means building reusable AI architecture and forgoing minor customizations, shortening the development cycles and enabling quick pilot and production phases. For existing customers, any underlying improvements to the models and reusable components, mean updates that improve the predictions and accuracy. We also plan to provide both SaaS and custom pricing, allowing our customers to choose pricing that best fits their business needs
- Aligning teams and people is at the core of this change: Moving from a services to product model impacts the work of every individual in our organization and we are reallocating our talent and processes to best suit our business model. While this doesn’t directly impact our customers, we expect that the tighter alignment between various teams will help us serve our customers even better than we do today. Teams working on specific use cases and industries such as Banking will have a deeper understanding of their domains allowing them to come up with solutions more specific to the domain. To keep customers informed of all the changes and great use cases we are working on, we added more resources to developing our content and educating enterprises about the power of AI solutions.
Do watch out our blog and product section in the upcoming days to learn more about these changes. We look forward to embarking on this new journey with our customers!