Generative AI is all the rage these days. Every founder and product leader is asking themselves: “how can I add Generative AI to my offering?” And yet, only a few will get it right. Others will waste R&D effort and disrupt focus.
So what can you do to make sure that your efforts are worth it? At LogicLoop, we’re some of the earliest adopters of LLMs. I’ve recently had the chance to present on a panel at Fintech Meetup on their implications for the fintech space. Here’s what I’d consider:
Understand your “why”
Before hopping on any trend, understand your Jobs to be Done. Your users are unlikely to directly ask you to integrate LLMs, so you’ll demonstrate proactiveness by improving their user experience and rate of content creation. Think about your business objectives – are they to improve user experience, improve funnel conversion or expand your audience? This will determine how you position, implement and price these features.
For instance, if you wanted to improve funnel conversion, you could offer generative AI features on your self-serve tier as well. But if you wanted to improve user experience at scale, you could reserve it for your enterprise tier.
Ensure you’re providing enough value
The #1 thing that startups integrating Generative AI need to remember is to add more value than being a thin layer on top of LLMs like GPT-4. Here’s some concrete ways you can provide value:
Instrument, instrument, instrument
With any new feature, comes the great responsibility of making sure it’s used and fulfills your business objectives.
With that, enjoy the benefits of using Generative AI in your SaaS product! If you’re already integrated these features, can you share more on what’s worked?