Ever since the dawning of the Age of Tech, companies have been seeking solutions that make sophisticated technology accessible to all. The Age of Product is only solidifying that desire for simplicity into a product requirement. How can some of the most advanced tech become accessible to even entry-level team members? This week, Accern CEO & Co-Founder Kumesh Aroomoogan joins the Product Talk podcast to share insights on product innovation and how no-code AI platforms are transforming the data science game with simplicity and elegance.
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On taking Accern from zero to one to one hundred.
When you’re trying to explore a brand new space, or even refine a legacy category, the first hurdle is always convincing that first client to give your product a try. Kumesh shares the Accern journey from a point solution for financial firm workflows to the industry-leading, no code AI platform it is today.
“In the first three years it was all r&d, so when one of the largest hedge funds approached us, we really didn’t have a product, it was basically a very slimmed down MVP. What we did have, though, was a vision and messaging that really enticed them to contact us.”
“We started as a point solution for this one customer, then we took that point solution that solves one specific use case very well, and repeated it with similar customers like that. That’s how we build up the first traction within the company. Repeat and install a point solution to as many similar companies as possible.”
“Then, there became demand for some way to enable less technical people like business analysts and data analysts to start using platforms like Accern to build sophisticated AI solutions. That’s where we started reengineering the platform to make it extremely simple, where you can build the solution without writing a single line of code. It was a really good transition in terms of product growth point solution to a platform place and now a no-code AI platform that less technical people can play on.”
On no-code tools and empowering all team members
Ever since the dawning of the age of tech, companies have been seeking solutions that make sophisticated technology accessible to everyday users. The Age of Product is solidifying the desire for simplicity into a requirement. Kumesh shares his most common customer learnings and how Accern came to be the go-to for no-code AI platforms.
“Scaling product is really a mix of learning from the customer’s biggest challenges, and trying to be ahead of the market. A customer might not always give you feedback, so you have to make some assumptions and take that leap of faith to really innovate.”
“The customers were always pushing us in terms of ease of use and simplicity of the product. They really want to use the product and build these types of AI solutions. It’s not just the workflow that we’re making faster, we’re really changing their organizational structure and digitally transforming the company as a whole. That really hits the bottom line for the company to increase their revenues and decrease their costs.”
“One of our biggest learnings was really lowering the barrier of entry and simplifying the product so as many people within the company as possible can be empowered to use the solutions. Lower the barrier of entry and use tools, like Accern, that allows low entry people to be able to build sophisticated solutions at scale.”
On AI use cases and what makes a great product
“There are a few types of use cases that are all coming up now due to COVID. One is around risk management. Customers want to be aware of different types of risks that could affect their companies from an operational, efficiency, and revenue standpoint.”
“We have a lot of use cases that really automate workflow and decision making. Organizations want to be more efficient so they can scale, be innovative, and be competitive against their peers.”
“A great product seamlessly fits into a user’s day-to-day workflow without disruption.”
About the host
Seasoned executive with three decades of experience envisioning, building, and operating software products and mission-critical platforms at startups to large organizations such as Microsoft. Throughout his career, James has held a diverse set of roles and developed expertise across leadership, product management, data science, IT operations, consulting, software engineering, and sales. As Chief Product Officer at Products That Count, he leads an online platform to help organizations learn the craft of product management and win as a market leader. As a coach, he leads mastermind circles to facilitate peer-to-peer learning across product management executives. As a podcast host, he interviews CEOs of companies held within Mighty Capital’s portfolio. Creator of the Career Strategy Framework and an online platform that teaches and coaches professionals how to reach their full career potential. Learn more at https://www.jamesgray.io.