Conversational AI is the use of speech-based assistants (such as chatbots, voicebots) in order to create an easier and more user-friendly experience for the customers.
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AI unmasked: What is conversational AI
Nicole Sky
Jul 11, 2019
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Reality of Bootstrapping
Going after investors? Do you know that less than 1 percent of startups actually raise VC (or angel) capital, which means that the vast majority are self-funded. Yet the main reason for it simply lies in the inability of most companies to find investors.
Bootstrapping, however, has several strategic advantages for your company's future growth. Perhaps the biggest is retaining the majority of shares and control over the strategy and direction your company is moving towards.
It also teaches financial discipline. Bootstrapping at the start helps to understand the importance of revenue and cash flow, as opposed to unabridged product development, and keeps you connected to your company's financial reality. Only when profitability increase do you then green-light new opportunities, increased risk-taking, and growth acceleration.
In reality, the founders are expected to be flexible. While entrepreneurs have certain intentions and philosophies when they are starting out, a hallmark trait for successful founders is the ability to adapt to changing environments and opportunities.
Sometimes, that means waiting a long time to generate the financial metrics that really matter, revenue and profit. By challenging your leadership team to focus on building the business organically and figuring out how to make the company consistently profitable on a model that can scale without VC capital, you make your company more valuable to future investors.
AI unmasked: How is nmodes different
nmodes is the only platform offering businesses their own AI that represents their brand. Other platforms are one-size-fit-all solutions that make it difficult for businesses to let AI know their sales process, customers, product details. nmodes gives every company an AI assistant that knows their business and grows together with it.
In addition, nmodes AI is laughingly easy to use - there is no need to be technically savvy because all communication happens in natural language.
Also, nmodes platform offers data privacy better than any other AI solution. nmodes unique architecture makes us the only conversational AI company that does not own customers' data.