The global business intelligence market, which includes companies like Tableau, Power BI, Looker, and QuickSight, was valued at $27.11 billion in 2022 and is projected to grow to $54.27 billion by 2030. Fluent aims to simplify the process of obtaining insights from these databases, reducing the time it takes to build dashboards and making data more accessible. The company's CEO, Robert Van Den Bergh, stated that Fluent's platform has reduced the time it takes to gain insights from two weeks to 30 seconds.
Key takeaways:
- UK startup Fluent has secured a $7.5 million seed investment round led by Hoxton Ventures and Tiferes Ventures. The company aims to apply AI-based Large Language Models (LLMs) to business databases, making them easier to interrogate by the average person.
- Fluent's technology translates questions into SQL and generates answers much faster, allowing anyone to ask questions in plain English of their data and obtain insights. This could significantly shorten response times and make data more accessible.
- Fluent's clients already include Bain & Company. The company uses Azure OpenAI’s GPT4 model but emphasizes that it is not a startup with an “OpenAI wrapper.” They have spent 18 months developing a method to generate accurate SQL and correct answers to data questions.
- The market for natural language querying is not yet crowded, but there are some players like Metabase, Einblick, and Thoughtspot. However, Fluent targets the business market, not data users, and claims that its offering is more accessible to non-technical users.