Partnering with GoodGist

Starting a new role is an exciting journey. But warm introductions and smiles soon give way to the  lengthy and repetitive training modules with looming deadlines. 

Traditional onboarding and training methods have remained unchanged for decades. Coupled with the need to continually learn new tools and keep up with industry trends, this creates significant challenges for both new hires and management.

Managers  are responsible for effectively onboarding new hires, ensuring they quickly become productive members of the team. This includes not only delivering training but also providing ongoing support and resources. The inefficiencies in traditional methods can lead to increased managerial workload, slower onboarding times, and potential gaps in knowledge transfer, ultimately affecting team performance and productivity.

Even after the initial training, employees, especially knowledge workers, face difficulties in accessing information due to it being scattered across various platforms or stored in outdated systems. The sheer volume of data makes it challenging to filter through and find relevant information when needed. Incorrect or outdated information can have detrimental effects, making it unreliable for critical decision-making. Even if employees detect inaccuracies, they may increasingly depend on colleagues, resulting in a cascading effect of productivity loss.

Goodgist aims to transform these outdated processes with their AI platform that provides personalised training and enables access to information as per the user’s needs, use cases, and proficiency levels.

Let's delve deeper into the problem at hand:

1. Information Retrieval: Over a quarter of an employee's time is spent searching for relevant information. Employees may also experience information overload, where the sheer volume of data is challenging to filter through to find relevant information especially for time bound tasks. This inefficiency costs the Fortune 500 companies over $12 billion per year. Source.

2. Scattered Knowledge: Employees often face difficulties in accessing information due to it being scattered across various platforms or stored in outdated systems. An average worker in the US has to use 11 different apps in their day to day work. Only 16% of business content is easily accessible to other workers. Source.

3. Training Deficit: Most knowledge workers lack training in knowledge management and don't fully understand how to utilise data sources and analytical tools. Less than 40% of employees apply the learned skills, indicating a poor ROI on L&D initiatives. Source.

Goodgist aims to become the one-stop solution to all such problems that hinders employees from turning into a highly skilled workforce.

Focus & Solution

Goodgist aims to address these challenges faced by employees across industries.  Their initial market focus would be software companies to enhance the capabilities of sales and Support Partners.

Goodgist streamlines the onboarding process and improves day-to-day workflows in the following ways :

• The platform provides personalised training tailored to each partner’s needs, use cases, and proficiency levels, ensuring higher efficacy of their onboarding and training.  

• Then the AI improves information retrieval by aggregating answers from various sources such as software documentation, support tickets, knowledge bases, and online forums. 

• It also generates step-by-step implementation guidelines based on the context of the particular partner heading the implementation.

This approach reduces the load on support teams, allowing partners to provide quicker, more effective implementations to end-users. The result is improved performance, enhanced customer satisfaction, and increased revenue, enabling the scaling of the partner network without additional support costs.

Product Features

• Contextual & Precise: The Goodgist platform integrates with existing Knowledge Management Systems and to any other approved content sources to maintain the integrity of information. This directly addresses the challenge of untrustworthy sources and inaccessible information.

• Content Intelligence: GoodGist’s content intelligence system tailors information not just based on the query but also considers the professional context of the user, whether they are a partner, engineer, or executive. This personalised approach helps mitigate information overload by delivering precise, role-specific data that is directly applicable to the user’s needs.

• Unified Interface: By presenting information in manageable chunks through a conversational and interactive interface, GoodGist promotes easier assimilation of complex data.  

• Microlearning Courses: Tailored for quick and focused learning sessions, these courses enable partners and employees to continuously upgrade their skills without significant downtime.

• AI Research Assistant: This tool automates the search, summarization, and visualisation of information, producing concise and accurate research reports. For partners, this means faster access to critical information and reduced time spent on gathering intelligence, allowing more focus on implementation and customer engagement.

Opportunity

The eLearning market is currently valued at $350 billion, with major players like LinkedIn Learning, Coursera, and Udemy leading the way. By 2028, the TAM for eLearning is expected to surge to $1 trillion. 

The enterprise search market is projected to grow from $5.6 billion in 2023 to $23 billion by 2028, with a CAGR of 9.6%. Source , Source 2. Source 3. Source 4. 

The Founding Team

GoodGist Founding Team

Our decision to invest in GoodGist is anchored in our belief in its founding team's unparalleled capabilities and proven track record building and scaling global companies. 

Ruban, the CEO of GoodGist, has been involved in the Data and AI industry since its early days, beginning his career as a Data Researcher/Scientist at Yahoo! Search. He then founded Bixee, a specialized search engine that was later acquired by Naspers (JSE: NPN). Continuing his entrepreneurial journey, Ruban created DataRPM, which was successfully acquired by Progress (NASDAQ: PRGS). Now, GoodGist marks his third business venture, and we eagerly anticipate its future under his leadership!

He’s joined by a team of seasoned co-founders who have been with him in previous ventures.. This talented team includes Shyamantak as COO, Vinay as VP of AI and ML Engineering, Vishal as CTO, Fayyaz as CRO, and Chandan Goswamy as CPO. Together, they form a dynamic team poised to elevate GoodGist to new heights.

Vertical Gen AI as a Focus

At FortyTwo, we see enormous potential in the vertical focus of Gen AI.

The right to succeed in AI stems from deep domain expertise. One approach is to focus on a specific vertical; with more industry-specific data, the AI becomes more effective for the respective use case!

So if you're a vertical focused AI company, we'd love to talk. Reach out to us at deepthought@fortytwo.vc.