At Momentum91, we've been hard at work understanding AI and their use-cases for mid-market and large firms. Late last week, I had the opportunity to share everything we've learnt so far with eChai Ventures at GVFL Limited.
Here are some notes:
๐ ๐๐ข๐ฌ๐ญ๐ซ๐ข๐๐ฎ๐ญ๐ข๐จ๐ง ๐ข๐ฌ ๐๐ฏ๐๐ง ๐ฆ๐จ๐ซ๐ ๐๐ข๐๐๐ข๐๐ฎ๐ฅ๐ญ
Other people also have AI. A lot of folks are building on top of AI and so there is increased competition in almost every vertical. Every niche software has like 3 bootstrapped competitors who are going to market via SEO. Also, product differentiators are difficult to communicate in the age of low attention spans. If you are starting distribution today, it needs a thorough re-imagination.
๐ ๐๐๐จ๐ฎ๐ญ ๐๐๐ซ๐ซ๐จ๐ฐ/๐๐๐๐ค ๐๐
Instead of building systems that are kind of smarter at doing a lot of things, you might want to consider building multiple and separate systems that are very smart at doing a few things extremely well. Enterprises/companies will separately pay for solving specific problem areas and addressing their use-cases. The game is depth, not breadth.
๐ ๐๐๐ญ๐ข๐ฏ๐ ๐๐ ๐๐ฑ๐ฉ๐๐ซ๐ข๐๐ง๐๐๐ฌ
Companies like ClickUp and Notion have done an amazing job at bringing AI within their products. But they are still not AI native. They were conceptualised when AI was not around. They have fit AI retrospectively. There is a large opportunity for building Native AI experiences. Platforms and products that are conceptualised from ground-up in the age of AI. An example of this is a project management system where I can assign tasks to both humans and agents. It will demand a lot of capital and ingenuity but it can be done. Here's a good question to ask: What other 'systems of records' exist that can be made AI native?
๐ ๐๐จ๐ฅ๐ฏ๐ ๐๐จ๐ซ ๐๐๐๐ฎ๐ซ๐๐ญ๐ ๐๐๐ญ๐
AI will solve for analysis, predictions, pattern recognition etc. Most firms do not have accurate data. If you can figure out a way for a business to collect accurate data about their prospects, customers, employees, products, sales, etc - using AI, you can do anything and everything. Figure out a way as to how you will solve for collection, storage and organisation of accurate data.
There were a few other things that we discussed.
๐ Co-pilot and Autopilots
๐ AI wrappers
๐ AI & Funding
๐ Verticalising LLMs
๐ AI Safety
๐ Real-life implementations of AI by companies we have not heard about
This conversation was meant to be a starting point for folks thinking about building in the AI space. It was by no means exhaustive - but sort of a summary of all the research Harsh, Jay, Koushikram and I have been doing for the past few months.
If you want the deck, let me know in the comments and I'll send it over ๐
Thank you Jatin for the opportunity.
Until next time :)
Here are some notes:
๐ ๐๐ข๐ฌ๐ญ๐ซ๐ข๐๐ฎ๐ญ๐ข๐จ๐ง ๐ข๐ฌ ๐๐ฏ๐๐ง ๐ฆ๐จ๐ซ๐ ๐๐ข๐๐๐ข๐๐ฎ๐ฅ๐ญ
Other people also have AI. A lot of folks are building on top of AI and so there is increased competition in almost every vertical. Every niche software has like 3 bootstrapped competitors who are going to market via SEO. Also, product differentiators are difficult to communicate in the age of low attention spans. If you are starting distribution today, it needs a thorough re-imagination.
๐ ๐๐๐จ๐ฎ๐ญ ๐๐๐ซ๐ซ๐จ๐ฐ/๐๐๐๐ค ๐๐
Instead of building systems that are kind of smarter at doing a lot of things, you might want to consider building multiple and separate systems that are very smart at doing a few things extremely well. Enterprises/companies will separately pay for solving specific problem areas and addressing their use-cases. The game is depth, not breadth.
๐ ๐๐๐ญ๐ข๐ฏ๐ ๐๐ ๐๐ฑ๐ฉ๐๐ซ๐ข๐๐ง๐๐๐ฌ
Companies like ClickUp and Notion have done an amazing job at bringing AI within their products. But they are still not AI native. They were conceptualised when AI was not around. They have fit AI retrospectively. There is a large opportunity for building Native AI experiences. Platforms and products that are conceptualised from ground-up in the age of AI. An example of this is a project management system where I can assign tasks to both humans and agents. It will demand a lot of capital and ingenuity but it can be done. Here's a good question to ask: What other 'systems of records' exist that can be made AI native?
๐ ๐๐จ๐ฅ๐ฏ๐ ๐๐จ๐ซ ๐๐๐๐ฎ๐ซ๐๐ญ๐ ๐๐๐ญ๐
AI will solve for analysis, predictions, pattern recognition etc. Most firms do not have accurate data. If you can figure out a way for a business to collect accurate data about their prospects, customers, employees, products, sales, etc - using AI, you can do anything and everything. Figure out a way as to how you will solve for collection, storage and organisation of accurate data.
There were a few other things that we discussed.
๐ Co-pilot and Autopilots
๐ AI wrappers
๐ AI & Funding
๐ Verticalising LLMs
๐ AI Safety
๐ Real-life implementations of AI by companies we have not heard about
This conversation was meant to be a starting point for folks thinking about building in the AI space. It was by no means exhaustive - but sort of a summary of all the research Harsh, Jay, Koushikram and I have been doing for the past few months.
If you want the deck, let me know in the comments and I'll send it over ๐
Thank you Jatin for the opportunity.
Until next time :)
The eChai Effect - In Their Words
"I attended my first eChai event 3 yrs back, and no one knew me in the market. Over the next three years, eChai didnโt only help me with knowledge or networking, but it gave me an identity from being unknown to now being recognized by a group of inspirational entrepreneurs connected with eChai, who have been gracious enough to acknowledge me and Digipple."
Viraj Rajani
Co-Founder, Digipple
"If thereโs one phrase that sums up my journey, itโs truly โThe eChai Effect.โ Six years ago, I simply walked into my first eChai event, not knowing what to expect. The honest conversations, energy, and inspiration from founders and entrepreneurs struck a chord within me. That eChai spark became the catalyst for everything to follow. I proudly say: my entrepreneurship journey startedโand keeps evolvingโbecause of eChai. Redicine Medsolโs story is integrally linked to this community. Iโve gained so much, not just as a founder but as a forever volunteer and grateful member of the eChai family. With all my heart, thank you Jatin Bhai and everyone at eChai for shaping, guiding, and supporting my dreams. The eChai Effect will always be a part of my story."
Kush Prajapati
Founder, Redicine Medsol
โWhen we launched LegalWiz.in back in 2016, concept of procuring legal and compliance services through a digital commerce platform wasn't as prominent in India. eChai played a significant role in providing the early adopters, and building significant positioning in the startup fraternity.ย Overtime, eChai grew to be a massive network of like-minded entrepreneurs and extended that benefit to all the members in a true "co-rise" spirit. I personally love to attend eChai events, learn from subject matter experts who share relatable and actionable insights and experiences.ย For startup journeys, it is so important to be surrounded by people who can add relevance, perspective, and push you to do better. Most importantly a group of people where you aren't being judged about things going right or wrong, but be a motivational force that keeps you going, yet keeping you in check. eChai is that place for me!โ
Shrijay Sheth
Founder at LegalWiz.in and Hire4Higher Consulting
eChai Partner Brands
eChai Ventures partners with select brands as their growth partner - working together to explore new ideas, open doors, and build momentum across the startup ecosystem.
.jpg "Digipple - We drive growth for brands with strategic, creative, and tech-enabled solutions.")