Artificial Intelligence is transforming our professional as well as personal lives gradually. It came as a revolution and still continues to change the face of the industry and the way we operate in our work. Well! They say only change is permanent and keep with the trends we should move along the revolution.
OLM Real Estate Case Study
Following the same Ex-HR Head, India, Home Credit, tech evangelist Vishal Chopra created “Umwelt.ai” to increase the productivity and profit of the companies. We have talked to him to understand his start-up briefly-
Tell us about your start-up?
Umwelt.ai is AI & ChatBot Powered Platform to help CXOs / CEOs increase retention, productivity, and profits by engaging employees and consumers through simple, reliable & meaningful insights.
Tell your readers about your achievements till today?
Led Startups / Mid Size Companies through massive expansions to become the Brands they are today through the synergy of Strategy, Execution, and Technology.
Also Read: Recent Trends in Startup Ecosystem
“What’s the most important thing you’re working on right now, and how are you making it happen?
We are working on integrating behavioral science, communication, analytics, and recommendations to enable automation of the full cycle of HR / Consumer consulting to improve engagement. We are making it by using a Psychology framework, Trained / Trainable ChatBot for communication, automating interactions, providing real-time analysis of Key Performance Indicators, Risk Analysis, Trend Analysis, Sentiment Analysis and Instigating agile actions with continuous Machine Learning.
What’s your take on your segmented/targeted Market?
In Phase 1 we are targeting WFM (Work Force Management) focusing on Engagement, Retention & Productivity which is expected to grow from USD1B in 2017 to 6B by 2021. Apart from this, we will look forward to expanding in consumer and student market with 90% of the framework we have built being readily configurable.
What are the challenges you have faced and what are the current challenges?
Challenges faced: – Finding people with a high level of distinctive skills work with highly skilled people working on a part-time basis to keep cash burn under control Solve problems which team was not having prior experience of Current Challenges: – Build cash corpus to buy full-time talent Marketing strategy to scale Continuous evolution of the product
What is your motive behind your start-up?
To build a fully automated integrated platform for engagement using Psychology, ChatBot, Data Science and Artificial Intelligence to let Companies engage Employees and consumers more effectively at a much lower cost.
Also Read: A Step by Step Guide to write your Business Plan
Where do you want to see your product in the next 5 years?
Become a leading AI-enabled Analytics Company for the employee, consumer and student engagement across the Globe.
Please share your learning for fellow Entrepreneurs?
No matter how much you think you know about your business there is always something you do not know; keep learning, stay passionate, be persistent.