✍ Achieving product-market fit is crucial for GenAI startups as they align cutting-edge AI technologies with diverse market demands. By harnessing data-driven insights, user feedback, and iterative development, startups can tailor their AI solutions to meet specific market needs, driving adoption and long-term success. At the recent workshop in #nasscomGenAIFoundry bootcamp, led by Thiyagarajan Maruthavanan (Rajan) of Upekkha, key takeaways included: 🎯 𝐑𝐚𝐩𝐢𝐝 𝐄𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐨𝐟 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐢𝐯𝐞 𝐀𝐈 𝐓𝐞𝐜𝐡 𝐒𝐭𝐚𝐜𝐤: With AI technology advancing at a 10x rate every six months, building solutions that look beyond a two-year horizon may lead to outdated tools. Focus on current scalability and adaptability. 🎯 $1 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐀𝐑𝐑 𝐈𝐬𝐧’𝐭 𝐏𝐌𝐅 (𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐅𝐢𝐭): Achieving $1M Annual Recurring Revenue (ARR) doesn’t equate to product-market fit. True PMF is reflected in how customers discover, choose you over competitors, remain satisfied, and continue using your product. 🎯 𝐁𝐞 𝐑𝐞𝐚𝐝𝐲 𝐭𝐨 𝐏𝐢𝐯𝐨𝐭: 𝐅𝐥𝐞𝐱𝐢𝐛𝐢𝐥𝐢𝐭𝐲 𝐢𝐬 𝐤𝐞𝐲 — be prepared to pivot, whether by 20% or 200%, to align with changing market demands or technological advancements. 🎯 𝐄𝐱𝐭𝐞𝐧𝐝 𝐢𝐧𝐭𝐨 𝐭𝐡𝐞 𝐕𝐚𝐥𝐮𝐞 𝐂𝐡𝐚𝐢𝐧: Generative AI startups should expand into adjacent areas and offer more value along the customer’s value chain to outpace the competition and solidify market presence. Stay tuned with us to know more. 🌐 For more info on #nasscomGenAIFoundry, click here 👇 https://lnkd.in/gvgqGX-4 #nasscomAI #GenAIBootcamp #GenAI #ProductMarketFit #AIStartups #GoToMarket #Innovation With Sangeeta Gupta, Ankit Bose, Madhav Bissa, Srikanth Srinivasan, Dr. Chetan Samant, Sudeep Kumar Das, Praveen Mokkapati, Keyur Punjani, Saikat Saha, PhD, Sidarttha Bezbora, Aditya Yeluru, Raj Shekhar, Simrandeep Singh, Kriti Lachhiramka, Grusha G S, Dhiraj Sharma, Sourav Mishra, nasscom, nasscom SME Connect, nasscom member connect
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