Entrepreneurship & Innovation Fluid Ai-Breaking New Ground with Artificial Intelligence
The case is set in 2017 and covers the journey of Fluid AI. Fluid AI is a five-year-old artificial intelligence (AI) startup that emerged as a pioneer in offering various AI-based products to solve various business problems. Its customers were primarily international and domestic (Indian) banks that generated and held enormous data but struggled to make sense of it. These banks needed help in solving problems such as predicting which customers they should lend money to, having an effective collection mechanism with reduced reliance on human decision-making, and using AI as modern technology to enhance the overall quality of customer experience. High cost-to-income ratios in banks provided another business imperative for building AI-based solutions to automate various operational processes in banks. Recognizing these needs, Fluid AI's founders-Raghav and Abhinav Aggarwal-built a core set of products powered by deep technical expertise and knowledge of AI algorithms. Enthused by the success from their first banking customer, the duo invested heavily in creating a two-pronged AI value proposition: predictive AI capabilities and conversational bots, with the ability to deploy solutions both on the customer's premises and on the cloud. This unique capability put Fluid AI in a formidable position to compete with more established AI startups, including some large IT service providers and product companies. The brothers did all of this in a completely bootstrapped mode, allowing the Fluid AI team full freedom to make technology, architectural, and business model decisions. They reached a critical mass of customers as more banks signed up and started using Fluid AI's products. A turning point came when Forbes magazine approached Fluid AI to help create a virtual avatar of Warren Buffett. This case traces Fluid AI's journey from being a startup, including its young founders and their dreams.
- Understand the entrepreneurial mindset of a high-tech startup (in this case, in the domain of Artificial Intelligence)
- Understand the broad set of applications of AI to solve complex and real business problems and learn how businesses can take advantage of new-age technologies
- Understand the challenges high-tech product companies such as Fluid AI face in navigating the uncertainty in the market, technology, and competitive space.
IT Management Divami Design Labs - Rebuilding a Software Product with User-Centric Design
Divami Design Labs is a company that specializes in user experience (UX) strategy, UX design, and user interface (UI) development services across web and mobile platforms. The company-based in Hyderabad, India-works with several clients in designing their software products and solutions. The company had recently won a large contract that involved redesigning a software product for a client in the employee life cycle management business. The client, Paysoft, had recently undergone a redesign process using internal resources. While the new product was well received initially, several complaints started to emerge about product rigidity and the lack of customer centricity. In a crucial board meeting, Paysoft decided to bring in an external specialist to help make the product more user-friendly. Divami won the contract after a long competitive process. As the Divami team began implementation, it ran into resistance from Paysoft's internal software development team, which had managed the initial product build. The Divami team had the challenge of justifying the role of design specialists in the product development process. It needed to convince the Paysoft internal team of the value it could add and how the design process does not replace but strengthens the development process. The Divami team also needed to showcase the design process with an illustration.
Enable students to: - understand UX-based design strategies - develop a design strategy for a SaaS product - understand the consequences of not following a comprehensive UX design process - understand resistance to change and the need to work with design specialistsLearn More₹399.00