Business AI Maestro: Fractal’s Srikanth Velamakanni
Nov 22, 2023
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In this episode, Srikanth Velamakanni, co-founder of Fractal, discusses the different businesses under Fractal and their usage of AI-driven strategies to help Fortune 500 companies. They explore the implementation of AI in various sectors, raising capital for rapid growth, the importance of client centricity, and the influence of Jeff Pizzos on their organization. They also touch upon the significance of education and entrepreneurship for India's success.
Fractal Analytics uses AI and machine learning to automate and enhance enterprise decisions, improving customer experiences and enabling real-time decision-making.
Fractal Analytics prioritizes talent and fosters a work culture of transparency, trust, and autonomy, contributing to its success in problem-solving and innovation.
Deep dives
Fractal's Vision for Powering Every Human Decision in the Enterprise
Fractal Analytics aims to automate, augment, and humanize enterprise decisions using AI and machine learning. Working with Fortune 500 companies, Fractal leverages algorithms to improve customer experiences, boost productivity, enhance new product introductions, enable real-time decision-making, and drive business model reinvention. With an extensive data collection from various sources, Fractal integrates structured and unstructured data to drive intelligent decision-making. Key sectors that have adopted Fractal's services include consumer goods, financial services, insurance, and technology.
Creating a Talent-Rich and Transparent Work Environment
Fractal Analytics places a strong emphasis on talent, selectively hiring individuals with expertise and humility. The company maintains a rigorous selection process, hiring predominantly in India and molding young talent from campus programs. Fractal's work culture prioritizes transparency, trust, and autonomy. Weekly town hall meetings encourage open communication and any team member can ask questions. The company's commitment to nurturing talent has contributed to its success and allows for problem-solving involving a combination of algorithms, design, and engineering.
Early Struggles and Lessons Learned as an Entrepreneur
During Fractal Analytics' early bootstrap years, challenges included uncertainty, lack of solid feedback, and comparisons to peers working for larger companies. However, these obstacles fueled determination and a willingness to accept and act on feedback. Striving for client-centricity became a significant turning point, involving measures such as implementing net promoter scores, pausing the selling process to focus on enhancing existing client services, and investing heavily in R&D to better serve clients' evolving needs.
Investors, Capital, and Insights from Scaling the Business
Fractal Analytics initially bootstrapped and later secured significant investments, though most funds were directed towards acquisitions rather than organic growth. The company's early entry into the AI space, combined with its location in a talent-rich market, contributed to its success. Insights gained during the entrepreneurial journey include the importance of self-reflection, taking feedback to heart, continuously improving leadership style, and embracing long-term thinking, as exemplified by Jeff Bezos.
In this episode, we speak with Srikanth Velamakanni, Co-Founder, Group Chief Executive & Executive Vice-Chairman of Fractal, a provider of artificial intelligence to companies. Fractal's businesses include: Crux Intelligence , which provides AI driven business intelligence; Eugenie.ai for sustainability; Asper.ai for revenue growth management; and Senseforth.ai, conversational AI for sales and customer service.
Since its founding in 2000, the company has raised more than $680 million from TPG, Apax, TA Associates and other notable investors and has empowered more than 100 Fortune 500 companies with its AI, data, and analytics-driven business strategies.
I am your host RJ Lumba. We hope you enjoy the show. If you like the episode, click to subscribe.
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