From a Simple Idea To Global Healthcare Expansion Vedula said his vision for MicroGrid is to become the most preferred conversational AI platform. They are strategically expanding offices into key markets like Latin America (LATAM) and the Middle East and North Africa (MENA) to solidify its position as a global leader in Conversational AI
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
It all started with one simple thought; making a positive impact on society and helping others. This inspiration drove Rama Narayana Vedula to build MicroGrid, an advanced Conversational AI Platform (CAIP). Before realizing his true calling lay in entrepreneurship, he built management systems for over 110 organizations across various geographies and worked on other projects. However, this one thought led him to start MicroGrid along with Ananth Raj and Syam Srinivas in 2019. The platform offers human-like conversations through chat and voice virtual agents with the mission to use conversational AI to transform healthcare and help people live healthier, happier lives.
However, the journey to becoming a distinguishable conversational AI platform was not without its challenges. From cash flow crises to acquiring new clients in a nascent market and surviving economic downturns, MicroGrid dealt with all. The company has made 3x year-on-year growth in revenue (USD 1.65 M), which signifies robust market acceptance and the effectiveness of the business model. "Steadily moving closer to MicroGrid's vision of redefining conversations across the globe," said Vedula.
While discussing how MicroGrid Intelligent Connect (MIC) technology enhances patient care, Vedula said MIC uses multiple foundational AI technologies and frontend software that enables healthcare professionals to provide patients with personalized care, support, and phenomenal customer experiences. It also equips patients with the tools and information at their fingertips to manage their health.
"To complement MIC, a full-fledged front-end Digital Health suite has been built entirely on Salesforce, allowing MIC to plug in and unleash its full CCAI potential," he added.
HANDLE COMPLEX CONVERSATION
Moreover, the platform is fully transactional and voice-capable, empowered to handle complex conversation scenarios involving multiple queries and commands within a single conversation. This allows MIC to handle elaborate tasks like appointment scheduling, consent capturing, and adherence & service feedback without the need for contact centre agents.
"Since its inception, MIC has been instrumental in revolutionizing patient engagement through its omnichannel implementations for Big Pharma (now successfully expanding to BFSI), covering aspects from disease awareness, appointment scheduling, consent capturing to adherence and service feedback," said Vedula.
He further said MIC is fully integrated with a medical dictionary, enabling it to identify and notify adverse events to the client's pharmacovigilance team for further handling.
EXPANSION PLANS INTO LATAM AND MENA
Vedula said his vision for MicroGrid is to become the most preferred conversational AI platform. They are strategically expanding offices into key markets like Latin America (LATAM) and the Middle East and North Africa (MENA) to solidify its position as a global leader in Conversational AI. "To achieve this goal, we will continue to build and mature our CAIP, develop groundbreaking products, and secure partnerships with influential key accounts and principal AI giants," Vedula explained.
ADVICE FOR ASPIRING ENTREPRENEURS
Vedula advises to have faith in the vision, be bold in decision-making, and persevere through challenges. "The entrepreneurial journey is fraught with obstacles and uncertainties, but unwavering belief in your mission can guide you through tough times," he added.
