Achieving product-market fit in volatile markets is a challenge, as the ease of adoption of digital products also lowers switching costs for customers. Generative AI is well suited to solve this challenge. It can programmatically evaluate several potential product designs to find the best match,” said Vinod Vasudevan, CEO, Flytxt.
Flytxt’s Generative AI can optimise price points, product attributes, bundling options, and associated benefits to meet business objectives like increasing revenue, retention, or margin. Generative AI has been mostly used for creating original multimedia content and enabling intelligent conversations as in tools like ChatGPT.
The company foresees widespread applicability of Generative AI in many customer experience workflows like product and campaign design. “We will continue to integrate powerful AI capabilities like Generative AI into our solutions to help users make accurate decisions that impact long term value creation”, he said.
Flytxt Generative AI also adds the ability to explain the decisions made by the AI. This transparency allows product managers to critically review the reasons behind the AI-recommended design, before they decide to approve and introduce the product in the market.
6th Edition of International Design Research Awards
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