AI assistance: a little email revolution
AI assistance: a little email revolution
A good idea for your startup
Trend: The burgeoning trend of integrating agent-based AI approaches, like AutoGPT, into practical applications is shaping the future of digital assistance. Already this year, we have seen startups implementing some of these "let AI do the work for you" use cases. Meanwhile, the global smart virtual personal assistants market size was $2.35B in 2022 and is predicted to grow to around $15.23B by 2030 with a CAGR of roughly 26.53%.
Investors' Bets: The rise of AI, particularly through popular models like GPT, marks a significant trend but sometimes tools require you to think a lot before using and adapt to new interfaces. Some people use apps like ChatGPT but forget about it. Mindy (US) that decided to fill this gap by offering a "ChatGPT" assistant in an "email wrap" raised $6M (Seed).
Using Mindy is incredibly straight forward. You can contact the assistant at m@mindy.com with a question such as, "I want to know about all the events happening in my city [specify the area] this weekend, with links to buy tickets." Or "Can you provide me with Apple's revenue data in a table for the last eight quarters?" Mindy searches for this information on the Internet and responds via email.
The startup claims a lot of its users — ranging from financial analysts to students and defense contractors, — uses the bot to perform research. Since the AI assistant is contacted through email rather than a web interface, they don’t expect a reply instantaneously.
The company assume that since email and the conversational tone of the medium are familiar to people, they don’t have to change their workflow to adapt the product in their lives. Plus, you can use it with a group of other people while planning or ideating.
The company said because of the asynchronous nature of the email, the agent can have more autonomy or automation to get you relevant results. Whilst email is the primary focus of the company, it has tested other distribution channels as well for different use cases.
To-Do: Interestingly, they chose email as the platform for communication. It's a great choice, at least for three reasons: a) enough differentiation to not be overshadowed by the likes of ChatGPT b) not "too innovative": Mindy strikes between innovation and user-centric design c) significant room for the virality. Take and build something exactly the same for your local audience. Especially for the older generation, because everyone knows how to use email, while all these new AIs yet still sound scary and confusing for many people, particularly in countries with older populations, like Germany.
If you're unsure where to start, visit an incubator's page. If you already have a project and need funding for your startup, click here for more details.
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