Unlocking the Power of AI Analytics for Small and Medium Businesses

In a recent episode of "The Thoughtful Entrepreneur," host Josh Elledge engaged in a compelling conversation with Krunal Patel, the co-founder and Chief Product Officer of Bordo AI. The discussion centered around the transformative potential of AI analytics in helping small and medium businesses (SMBs) and financial institutions better understand their customers and make data-driven decisions. This blog post delves into the key themes and insights from the episode, offering actionable advice and expert recommendations for leveraging AI in business.

Krunal Patel introduces Bordo AI, an AI analytics platform designed to assist SMBs and financial institutions in gaining deeper insights into their customers. The platform leverages transaction and sales data to help businesses understand their customer base better, convert one-time customers into loyal ones, and identify opportunities for cross-selling and upselling. Krunal explains the necessity of AI analytics in today's business landscape, noting that while the need for advanced analytics has existed for some time, the underlying technology was not available until recently. With the rise of generative AI, the maturation of machine learning models, and the decreasing cost of computing power, now is the ideal time to build solutions that promote financial equity.

The conversation shifts to the topic of critical thinking and decision-making. Josh highlights the tendency for individuals to make decisions based on emotions, which can sometimes lead to flawed judgments. Krunal agrees, stating that the goal of Bordo AI is to augment human decision-making, not replace it. AI can enhance decision-making by providing additional data points and insights. The episode concludes with Josh thanking Krunal for the insightful conversation and encouraging listeners to explore the potential of AI in their own businesses. By combining human intuition with advanced AI analytics, businesses can achieve optimal outcomes and stay competitive in today's dynamic market.

About Krunal Patel:

Krunal Patel is a seasoned product and engineering leader with over 20 years of experience across multiple industries, including Finance, Life Sciences, Healthcare, and Public Safety. He specializes in driving innovation through SaaS and AI products, with a proven track record in developing cutting-edge solutions. As a two-time founder, Krunal successfully raised $10M in seed funding for an AI enterprise platform and scaled a SaaS analytics platform from 5 to 1,800+ trials, achieving a 50% YoY revenue growth. He has led global product and engineering teams of up to 75 people across four countries and holds a patent for "Abstractly Implemented Data Analysis Systems and Methods."

Krunal’s expertise spans the full product lifecycle, from ideation to market launch, and he is skilled at leveraging AI, ML, and cloud computing to create data-driven solutions. He is passionate about building and mentoring high-performance, diverse teams and aligning product development with strategic business objectives. With a user-centric, agile approach, Krunal is committed to delivering genuine customer value and fostering continuous innovation to drive long-term success.

About Bordo:

Bordo is an AI software-as-a-service (SaaS) that helps organizations connect, contextualize, and derive deep-rooted insights from their high-dimensional data.

Equip your teams with our Explainable & Context-Aware Recognition AI, experienced through an intuitive, conversational interface.

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Links Mentioned in this Episode:

Want to learn more? Check out Bordo website at

https://bordo.ai/

Check out Bordo on LinkedIn at

https://www.linkedin.com/company/bordoai

Check out Krunal Patel on LinkedIn at

https://www.linkedin.com/in/krunaljp

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