It’s almost a month since we released the first version of Formaloo AI after months of beta testing, and I have to say it was one of the most exciting periods of my life!
Let me begin with why we started working on Formaloo AI in the first place. Nowadays, you will hear about AI anywhere you go, and a lot of platforms are in so much hurry to just add an AI tag to their product name. So now you see a lot of platforms say that they have AI, but they’re completely useless.
We wanted to build something useful for you, not just a buzzword. We wanted to leverage our AI system and Machine learning engine to solve important issues for our customers. For example, who needs an AI form generator when you have hundreds of free templates in Formaloo? We wanted to solve real problems for you.
So, we did a lot of research with our engineering team. As you know, Formaloo’s ML engine and Formaloo Data analytics are the core of our platform, so we wanted to unleash the full potential and power of Formaloo with the next generation of the Formaloo platform.
And I’m thrilled to announce, for the first time, the release Formaloo AI engine, built on top of the Formaloo ML engine, CDP, and Formaloo data analytics.
Formaloo AI is the next generation of Formaloo Data Analytics and Customer Data Platform (CDP)
In reality, Formaloo AI is the next generation of the whole Formaloo platform. I don’t want to get super technical here, so I want to explain the benefit of Formaloo AI instead.
Our customers’ most important challenge is that they cannot leverage their own data to grow their businesses. Each business has loads of data points, duplicated files, and messy spreadsheets that no one is using. Worse, their workflows and procedures become super complicated and messy over time.
Thousands of businesses were using Formaloo CDP and data analytics to do market research, product research, and measure customer engagement. However, we learned that these kinds of research and analytics were very complicated to do, even for big teams of experts.
So, we made it our mission to democratize data analytics, to make it easy, inexpensive, and accessible to everyone.
With Formaloo AI, you’ll have your own dedicated AI for your business. Designed by you, trained by you and managed by you, all without any coding!
Let’s dive in inside Formaloo AI modules and capabilities. Formaloo AI has 3 main parts:
1. Collect: AI-powered Complaint Surveys
Surveys and questionnaires were not updated in the past few decades. We went from paper surveys to electronic surveys and kept everything the same. Same format, same questions, same answers. Boring and inefficient.
All studies show that people are less willing to participate in surveys every year to the point that many companies are not doing traditional research with surveys anymore. Formaloo AI surveys will change that.
The next generation of surveys helps businesses collect trusted, reliable, and, more importantly, unbiased data from their audience. So you can collect reliable data and analyze it with Formaloo’s AI-powered business intelligence dashboards.
AI Surveys are the next generation of surveys
For example, pharmaceutical companies are now using Formaloo AI to conduct double-blind studies with the most accurate results from their patients without any biased feedback.
No more boring forms and surveys that remind you of tax forms. Beautiful, user-friendly, and, more importantly, automatically collect the right information, analyze it, and get rid of inaccurate results.
Complaint surveys are the best choice for every enterprise, but they’re most popular with healthcare organizations, management consulting firms, and tech companies.
Why does this matter?
Compliance surveys are all about trusted data. When a person fills an ordinary survey, their answers are completely biased, because of the choices they saw, the order of questions, the tone of the survey and so many other factors. Conducting normal surveys will result in inaccurate responses, which defeats the whole research purpose.
Formaloo AI helps enterprises conduct surveys with the highest levels of accuracy and in compliance with important regulations such as HIPAA compliance and GDPR compliance.
We've been piloting Formaloo AI with our enterprise customers for the past six months, and I’m happy to say that Formaloo AI surveys grew their average response rate by 317% and optimized 96% of all of their results automatically, which saved hundreds of hours for each organization.
2. Build: Formaloo No-code AI Builder
Many businesses face an issue that they cannot really use the current AI platforms such as ChatGPT, Gemini, and other LLMs because no matter how good these platforms are, they are a general purpose-built system. Yes you can use them for small things, but you can use them in deep in your business.
In a perfect world, each business had the ability to design its own AI system, train that system with its own databases, files, and workflows, and then design its own application that’s powered by their own AI.
However, we don’t live in a perfect world. Creating a dedicated AI system like this needs a huge team of AI engineers, data scientists, and developers. It requires a lot (and a lot!) of coding. But wait a minute, isn’t Formaloo a no-code platform? We should do something about this, right? And that’s exactly what we did.
Now you can create and train a dedicated AI agent for your business! Your data, your procedures, your rules.
With Formaloo no-code AI builder, you can design your own AI system, train that system with your databases, files, and workflows, and then design your custom applications that will be powered by your own AI.
Formaloo AI builder is a drag-and-drop platform where you can train your AI with your own databases, spreadsheets, and even files. On top of that, you define the AI of your business logic, conditions, workflow automation, and so much more.
Formaloo AI and machine learning engines take care of the rest. You can design your own UI and create different apps and workflows that use your own AI, your data, and your rules. All without any coding!
For example, let’s say that I want to build a Google ad campaign that uses my customers’ data to design new retargeting ads for them. I also want these ads to be trained by our RFM analytics and deploy different strategies based on the recency, frequency, and monetary value of each customer segment.
Developing a retargeting system like this for my business would’ve taken a few months and required a big team of expert data scientists. Now you can do this in Formaloo without any coding in a couple of hours.
3. Analyze: Formaloo Product Research Suite
The most powerful module of Formaloo AI is the Formaloo Product Research Suite. Unicorns and tech companies are using Formaloo AI embedded inside their product to turn their customers into their own focus groups.
Formaloo AI helps companies improve their business vital signs by analyzing every aspect of their products. Imagine that you have your own focus group, ready to test your new product, new features, or even your new website, and best of all, it provides you with best-in-class reports and analytics powered by AI
The best part about Formaloo AI is that you don’t have to share your data with any third-party system, any LLMs, and not even with Formaloo!
Formaloo AI, unlike other services, won’t require sensitive information from your business to operate. There is no need to share customer data, transactions, events, or any other sensitive data. It can even run on-premise inside your own servers with your total control over every aspect.
How does it work without any shared data?
One of the most interesting parts of the Formaloo Product Research Suite is Formaloo AI agent bots. These AI bots will act as real users to test a new feature. Formaloo AI will use its feedback to analyze any part of a product automatically. This means that you don’t even need to share your customers’ data or interactions with Formaloo AI at all.
These AI agents will act as normal users and normal customers with different attributes and different approaches. Formaloo AI analyzes all gathered information and provides the enterprise with deep analytics points, such as missed opportunities, top threats, ways to improve the business model, UX improvements, and even deep competitor analytics.
This means with Formaloo AI, you can even analyze your competitors and identify what they did right, what they did wrong and the best opportunities to win over them.
This kind of research used to take 3–4 months to complete and cost tens of thousands of dollars, but now it can be done automatically with Formaloo AI at a fraction of the cost.
The current version of Formaloo Product Research Suite is built and trained specifically for tech companies, unicorns, and startups. From SaaS businesses to e-commerce stores to video games and mobile apps, they all can enjoy the benefits of Formaloo AI to instantly identify what they should do next and how to win the market over.
What’s next in Formaloo AI and for AI industry in general?
We have a long way to go in the AI industry, but we’re in a very critical phase of AI evolution that will continue for about a decade. We’re in the “Automation” phase.
In this phase, everything that can be automatic will be automatic. Imagine every manual task that we do which has a pattern; that task, that process, will become automatic with the help of AI. From fully self-driving cars to sending 80% of our emails to almost every procedure in our businesses, all will be automatic.
In the next few years, tech platforms will change dramatically as creative platforms and startups find the best way to leverage AI to automate tasks and procedures for their customers. This will be the USP of almost every SaaS platform very soon. Just to be clear, this doesn’t mean that the future platforms will all be the same, on the contrary, each platform will focus on a specific task and procedure to automate.
This has happened before, especially in the development, data science, and no-code industries. In the early 2000s, if you wanted to build a website, you had to learn to code from scratch. Today, almost no one needs to code their own website. We have thousands of platforms that make every part of website creation easy and automatic.
Now, with the power of AI, we can not only help our customers do what they want and create what they want faster and easier, but we can also predict what they want to do next and automate the whole thing for them.
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