Product and Productivity: GenAI x Ankur’s Portfolio

June 2, 2023

At Ankur Capital, we recently organized a Learning Lab for our 20+ portfolio companies to decode GPT and share use cases on generating creative ideas, automating tasks, streamlining workflows and enhancing collaboration within the company. 

Leveraging GenAI - Succint prompt design, Integration in existing processes, Culture of use and showcase
Pillars for AI tool integration

A few key takeaways from the session: 

Prompt design is critical. Defining the problem statement and setting the parameters for solutions are your cognitive jobs. For ChatGPT inputs, it’s important to provide prompts with a few examples. ChatGPT can then effectively intuit the task you are trying to perform. Training GPT with custom data (providing specific datasets and inference pipelines) can also help improve performance in a specific domain. 

Integrate Gen AI with existing tools and workflows. With the plethora of tools available, it’s easy to plug-and-play Gen AI by integrating APIs or building custom workflows. It’s important though to assign tasks appropriately. Clear handoff points and decision-making processes should be established to ensure effective collaboration between tools, and overall within the team.

Promote a culture of productivity with Gen AI. Fostering the use of AI and showcasing good practices is essential to empower every team member to become a power user of AI. By regularly highlighting successful implementations, team members are both inspired and educated on effective utilization of Gen AI tools. They feel more confident to leverage AI to enhance their productivity. 

Tech teams are powering up. Non-tech teams are getting more creative with no-code or low-code stacks. 

“How to better qualify leads so that sales teams can spend more time speaking with real potential customers?”

At Superfone, Nikhil, Co-founder and CEO, noticed that his sales team was spending a lot of time deciphering noise from signals. They were generating a lot of SMB leads with Google Ads, but without targeting capabilities, sometimes quantity did not beget quality. Their promo offer for free calls with their business phone number attracted miscreants, spammers, fraudsters and general non-businesses. 

Nikhil asked Piyush Mayank, Head of Product, “How do we better qualify leads so that sales teams can spend more time speaking with real potential customers?” Piyush decided to develop a Genuinity Score. He used the OpenAI API to accomplish two tasks: build a structured user profile, and understand the user’s propensity to purchase Superfone and personalize the sales experience accordingly. 

First, the team used GPT to put together ​​structured user inputs alongside publicly available information from the web. They then devised personalized pathways for customer segments that were fulfilled based on lead qualification criteria. Their custom workflow has handled over 20,000 queries to date and increased the accuracy of qualification by 40% which enabled a more optimized funnel. Moreover, productivity of the sales team increased by 75% as they did not have to spend time on calling users who would not subscribe to a paid plan. 

"How to deepen the user's learning experience?"

Josh is also using GPT to deliver meaningful customer experiences. The Josh Skills app empowers users in Bharat to improve their English speaking skills. With over 340,000+ enrollments and users spending more than 55 minutes on the app daily, the team realized there was an opportunity to deepen user engagement and enhance their learning outcomes. 

The tech team, led by Harsh Gupta (Head of Product and Tech), developed an AI-powered chatbot leveraging the OpenAI API. They prompted the chatbot with, “You will answer all my questions as {bot_name}. Your job is to highlight and correct the user's grammatical mistakes,” and trained the bot with sample questions. Now, users enrolled in a course have access to daily conversational practice even without a live partner. 

Users are spending an average of 9 minutes practicing with the chatbot. As a next step, Josh will assess the impact of this chatbot retention.  

Josh is deepening AI-use across the organization. In one case, non-tech account managers used ChatGPT to input code into Google App Scripts to automate processes for lead management. In another, designers and copywriters are plugging-and-playing with stacks to brainstorm creative ideas. True to the company’s mission of unlocking human potential by nurturing individual potential, Josh is fostering a culture of betterment with AI. They promote the use of AI tools and showcase good practices at company town hall meetings.

Generative AI is solidifying itself as part of every workplace and every organisation’s growth trajectory – the concept now transcends beyond machines to the members of the organisation, reinventing the way they work. The next revolution is today where there is a real opportunity to enhance the decision-making process and foster creativity and innovation.