Fractal, a global provider of AI and advanced analytics solutions, has introduced Flyfish, a 360-degree generative AI platform for digital sales. It aims to enhance revenue growth and foster long-lasting customer relationships. The vision behind Flyfish is to revolutionise the sales experience by making technology more human-like. It offers consultative experiences through intuitive sales advisors, enabling personalised, data-driven shopping interactions with consumers.
Moreover, the platform aims to create a new market category called consultative sales AI. According to the team, the platform has shown promising results in pilot programs, with increases in lead generation, conversion rates, and a significant reduction in customer acquisition costs. “In the close-door pilots that we have built and launched for some of our customers, there is a significant jump in lead generation. There was a 35% jump in in one of the cases and the conversion rate went up by 12% in another one,” Shridhar Marri, CEO and co-founder of Flyfish, said during a recent interview with AIM.
He also predicted that the product would help enterprises bring customer acquisition costs down by 40% over three years.
How it Works
Flyfish has a preprocessor that analyses user questions or context, determines the appropriate flow, and retrieves relevant products and recommendations. This information is sent to a large language model (LLM) to generate a humanised response, which is then post-processed within Flyfish. The platform also includes a channel connector that allows integration with various digital channels like web, messaging platforms, and social media.
If needed, a human can be brought into the conversation, and their responses are delivered through the same channels. Custom flows can be created within Flyfish for specific enterprises, such as incorporating sponsored or complementary product options.
Flyfish can also be used for marketing, where it can provide a point-of-sale or advisory experience for users clicking on ads. The platform is agnostic to the choice of language models, allowing users to select their preferred LM, such as GPT, Google’s models, or others. Flyfish integrates with messaging APIs to connect with different platforms like WhatsApp, Telegram, and more.
The platform seamlessly integrates into existing sales and marketing tech stacks, encompassing e-commerce platforms, product catalogues, pricing, availability, and more. It operates on a cloud-agnostic architecture, utilising various cloud services such as Azure, ensuring flexibility and scalability.
Addresses Specific Consumer Needs
Flyfish addresses the diverse needs and contexts of individual consumers, streamlining their research process and significantly reducing the time required to make informed purchasing decisions. By leveraging generative AI, Flyfish delivers a range of benefits, including the ability to provide tailored product recommendations and suggestions that consumers may not have discovered otherwise.
“I think we’re going to change the way consumers interact with the brands. Every consumer, if you look at them, have different needs and contexts.” He explained, when making a significant purchase like a car, it is common for consumers to go through extensive research that can last anywhere from six to eight months. This research period applies to various types of purchases, with varying time frames depending on the specific item. Regardless of the product, consumers invest significant time in researching their options, often spanning across days, weeks, or even months.
Marri expects Flyfish to reduce this time and result in an enjoyable experience.
A Secure Enterprise-Friendly Product with Ambitions
Fractal’s backing as a prominent AI company and its strong relationships with Fortune 500 enterprises position Flyfish for success. The Flyfish team consists of approximately 30 professionals with expertise in AI engineering, product management, experience design, marketing, and research and development. They also have researchers and developers in AI and ML and deep learning.
Flyfish has great ambitions and wants to carve out a niche for itself. “We are trying to create a cutting-edge global product out of India,” Marri said. While there are other platforms like Sendbird, which provide an end-to-end automated chatbot experience, Flyfish is looking to differentiate itself from the competition.
Marri also believes that other competitors might take a while to reach the stage they currently at. Given the significant progress in innovation, Flyfish is ahead of the curve. “At this point of time, there is no direct competition but there are some people trying to use chatbots and bring in a little bit of conventional conversational commerce into the play. But we’re trying to defy the conventional chatbot experience and bring in a consultative experience, he said.”
Marri revealed that there are several ongoing conversations with the Fortune 500 companies within Fractal’s ecosystem. “One of the biggest advantages that we have is to use Fractal’s access to large enterprises around the world and then offer Flyfish as a product,” he said.
Enterprises have been wary of their data, however, Flyfish prioritises the security of customer data by ensuring that they do not store any of it. Instead, the data flows directly into the enterprise’s ecosystem, including their tech stack, cloud services, CRM and ERP systems, and e-commerce platforms. Moreover, anything that passes through the platform is encrypted for additional measures to safeguard the data.
The Existing AI in Sales Market
While, Fractal claims that Flyfish is the world’s first 360-degree generative AI platform for digital sales. There are other firms that offer several kinds of assistance in sales and marketing. Several AI tools are available for sales organisations of different scale.
Some notable examples include, Conversica, which provides an automated AI sales assistant that engages leads in conversation and qualifies them before they talk to a sales representative. Exceed.ai, which uses AI to engage in human-like conversations with sales leads via email and chat. Crayon, an AI-powered competitive intelligence tool that tracks competitors’ activities online and automatically generates sales battle cards; and Salesforce, a prominent player in the AI for sales space, with its AI named ‘Einstein’. Einstein prioritises leads, evaluates deal likelihood, and allows developers to incorporate AI into Salesforce apps. Microsoft’s Viva Sales offers features such as personalised customer email drafting, customer insights, and generating recommendations and reminders.
The integration of AI into existing platforms by established companies demonstrates the growing trend of incorporating AI into sales processes. According to McKinsey analysts in Harvard Business Review, the capability of AI to enhance and boost sales performance can potentially generate a value ranging from $1.4 to $2.6 trillion in marketing and sales.
