Jay Banerjee

A Product Requirement Document (PRD) is a document used in product management to define the requirements for a product or feature. It serves as a blueprint that outlines what a product or feature should do, how it should behave, and what it should look like. A PRD typically includes sections that describe the problem the product is meant to solve, the target user or customer, the features and functions required to solve the problem, and any constraints or dependencies that must be considered. It may also include mockups, user stories, use cases, and other visual aids to help stakeholders understand the product's requirements. The PRD is a critical document that helps ensure that everyone involved in the product development process has a shared understanding of what is required. It serves as a communication tool between stakeholders, including product managers, designers, developers, and other team members. By clearly defining the product requirements, a PRD helps to ensure that the product meets the needs of its intended users and customers, and that it is delivered on time and within budget. Here is a sample PRD written for Lynda.com website for your reference. You can use the template to write PRDs for your own product requirements. Credits: Lee Nau For more such resources follow ProductHood School PS - Our next Product Management Fellowship Cohort starts on 17th December. Reserve your seat now -> https://lnkd.in/g4meNesX

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A Product Requirement Document (PRD) is a document used in product management to define the requirements for a product or feature. It serves as a blueprint that outlines what a product or feature should do, how it should behave, and what it should look like. A PRD typically includes sections that describe the problem the product is meant to solve, the target user or customer, the features and functions required to solve the problem, and any constraints or dependencies that must be considered. It may also include mockups, user stories, use cases, and other visual aids to help stakeholders understand the product's requirements. The PRD is a critical document that helps ensure that everyone involved in the product development process has a shared understanding of what is required. It serves as a communication tool between stakeholders, including product managers, designers, developers, and other team members. By clearly defining the product requirements, a PRD helps to ensure that the product meets the needs of its intended users and customers, and that it is delivered on time and within budget. Here is a sample PRD written for Lynda.com website for your reference. You can use the template to write PRDs for your own product requirements. Credits: Lee Nau For more such resources follow ProductHood School PS - Our next Product Management Fellowship Cohort starts on 7th June. Reserve your seat now -> https://lnkd.in/g4meNesX #productmanagement #productmanagers #prd #products

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60-second course to write a solid Product Requirements Doc (PRD) as a product manager. Start with the following sections: - Users - User Story - Concept mocks - Open Questions - Goals & Success Metrics - Roadmap & Go-to-market plan - Problem & Opportunity Statement Now, we will add more depth to the doc: - Why is this urgent now? - Why are we the best team to solve this? - What guiding principles are we following? - What user insights support our approach? - What part of the problem should we tackle? - What key decisions and trade-offs are we making? - What risks do we face, and how will we handle them? - What are our assumptions? What needs to be true for this to succeed? While you add depth, make sure you: 1. Clarify your thinking as you write. Use the process to refine your ideas and make sure everything is clear. 2. Keep it simple and easy to understand. Use diagrams, charts, and bullet points, and move details to an appendix. Highlight areas that need feedback or alignment. 3. Use the document as a central point for feedback. The goal is to do something other than hand over a perfect plan but to improve it. The value lies in the process of writing and collaborating on the document. 4. Focus on the purpose of each section rather than on finding the perfect template. Understand how each part can drive desired outcomes for your product. 5. Aim for outcomes, not just output. Don’t spend too much time perfecting the PRD. Use it to guide the team toward a concrete outcome, not just to produce a spec. – P.S What would you add here from your experience?

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7 resources to improve your PM fundamentals [1] Understanding APIs for Product Managers https://lnkd.in/dCb4MDcW [2] Mastering the Product Interviews - Solving Estimation Questions https://lnkd.in/dwWrFvnc [3] Cracking your next PM interview https://lnkd.in/dhQz8937 [4] Jobs-to-be-done Framework by HBR https://lnkd.in/dkMyvxiX [5] Beautiful case studies explained in beautiful way https://growth.design/ [6] SQL for PMs https://lnkd.in/dMMhtWuc [7] Understanding Frameworks for Product Managers https://lnkd.in/dwhrC-Hx Liked this? Follow Vishal Bagla for more.

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What is North Star ✨ framework? North Star framework is an important product management concept to define success metrics for business and inputs that drive the success metrics. Here is an attempt to simplify it (Go to PPT 💻) + What is a North Star Metric? A North Star metric is the one measurement that’s most predictive of a company’s long-term success. + Why Do We Need a North Star Metric? Focus and Alignment Company-wide View #northstar #nsm #northstarmetric #productmanagement

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Product Roadmap in simple words: 👉 List of problems 👉 Sequence of those problems 👉 Timeline of solutions to those problems 3 stages in building and maintaining a roadmap: 1️⃣ Ideation 2️⃣ Prioritisation 3️⃣ Alignment Want to know more ? Here is an article I wrote - https://lnkd.in/g78SG2xV #productmanagement #productmanager #aspiringproductmanager #productowner #productroadmap #roadmap ~~ If you found this post helpful, repost ♻️ this and follow me 👉 Nitish Rana for daily content at 𝟭𝟭 𝗔𝗠 & 𝟱:𝟯𝟬 𝗣𝗠 𝗜𝗦𝗧. You should also subscribe to my Newsletter 👉 The Product Leap if you are deciding to move into product role or have just moved.

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Product Roadmap in simple words: 👉 List of problems 👉 Sequence of those problems 👉 Timeline of solutions to those problems 3 stages in building and maintaining a roadmap: 1️⃣ Ideation 2️⃣ Prioritisation 3️⃣ Alignment Want to know more ? Here is an article I wrote - https://lnkd.in/g78SG2xV #productmanagement #productmanager #aspiringproductmanager #productowner #productroadmap #roadmap ~~ If you found this post helpful, repost ♻️ this and follow me 👉 Nitish Rana for daily content at 𝟭𝟭 𝗔𝗠 & 𝟱:𝟯𝟬 𝗣𝗠 𝗜𝗦𝗧. You should also subscribe to my Newsletter 👉 The Product Leap if you are deciding to move into product role or have just moved.

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Project vs Product Thinking https://lnkd.in/ey9h6iY6 by Shreyas Doshi Day 6 of 60 - PM Roadmap by Carl Vellotti Study Material Link: https://lnkd.in/ezKfseWA Creator: https://lnkd.in/eBgmqDYC Q1. Reflecting on your own experience, have you ever encountered a situation where conflicting versions of "truth" arose due to different languages being spoken (Product thinking vs. Project thinking)? How did you handle it, and what could you have done differently? A1. My history as a PM service provider forces me to dabble in both Project and Product thinking on a pretty even scale. Thing is, even if I am hired for a Project, it is usually by someone who is low on resources, and enabling product thinking to drive larger impact is a key part of success even if the engagement itself is a project. I remember, 3 years ago, my first freelance gig was as a Project Manager at a Web Design/Dev Agency. Time and time again, we will just work on projects and deliver what we had to work on. And then one day, it struck me, I didn’t have to limit myself to just a Client/Project Manager - and I can do more. Enter - Discovery. That was my first experiment, where I took my Product Thinking/Management learning and applied to a primarily project/delivery services business. And it worked! It turns out, client’s also care, and can take benefit from thinking that goes beyond just the ‘when’ and ‘who’. I started doing Product style discoveries with my project clients, and that led us to significantly grow our services revenues because we were providing more value than the competition based around outcomes, not just outputs. To this day, the why and what have become larger focuses for me personally whenever taking on a new engagement - be it project or product based. Q2. Do you think Product thinking and Project thinking are mutually exclusive, or can they coexist? Is it possible for a team to strike a balance between the two mindsets? Why or why not? A2. Hate the term ‘mutually exclusive’ - everything in tech has a lot of overlaps and if we define strict borders around things ‘without’ context, it will often lead to failures and systemic dysfunction. It is perfectly possible for a team to strike a balance between project and product thinking, one (there are more too) ways to effectively take part in both styles is to focus on the product side first, and then when it comes to execution, focus on the project side of thinking. tl;dv - AI Meeting Assistant social media team does an amazing job explaining PM VS PO (which overlaps a lot with PjM thinking): https://lnkd.in/evKtPPWk I can leave this at that. Q3 in comments. _______________________ Context behind this post: https://lnkd.in/e7ZQefjS

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In product management, tracking key metrics is vital for understanding product performance, user engagement, and business impact. Here are some core metrics you might focus on and their significance . 1️⃣ Monthly/ Daily Active User • Why It’s Important: These metrics track the number of users interacting with the product within a given timeframe, indicating overall user engagement. Monthly and Daily active users ratios help determine if the product is becoming part of users’ routines and highlight trends in user growth or churn. 2️⃣ Retention Rate and Churn Rate • Why It’s Important: Retention rate measures how many users continue to use the product over time, while churn rate shows the percentage of users who stop. High retention is key for sustainable growth and profitability, especially for subscription-based or SaaS products. Identifying why users churn allows for targeted improvements to retain them. 3. Customer Lifetime Value (CLV) • Why It’s Important: CLV estimates the revenue generated from a user over their entire relationship with the product. High CLV indicates that users find long-term value, and it informs spending limits for customer acquisition efforts. You can add more in the comments 😉 ProductManagement #TechMetrics #DataDriven #GrowthMindset #Betchifiedbootcamp

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Tired of struggling with PRD templates? Aspiring PM, I've created a comprehensive guide to help you master the art of writing effective Product Requirements Documents. From understanding the basics to crafting compelling narratives, it's all covered. Check out my latest article on Medium for a step-by-step breakdown. Link 👇 https://lnkd.in/g4izXaz7 #productmanagement #PRD #productdevelopment

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Learn how to apply metrics to succeed in your next product management interview... as an aspiring Product Manager. In the product management, understanding and utilizing key performance indicators (KPIs) is very important. Here’s how to prepare yourself to discuss and leverage metrics effectively in your interviews: 1. Learn the Fundamental Metrics Example Familiarize yourself with common KPIs such as Customer Acquisition Cost (CAC), Lifetime Value (LTV), Monthly Active Users (MAU), Churn Rate, and Net Promoter Score (NPS). >> Understand what each metric indicates and why it’s important for different types of products and business models. 2. Analyze Case Studies Example Study successful products like Spotify or Airbnb. Identify the KPIs they focus on and how those metrics drive their business strategies. >> Be ready to discuss these case studies in your interview to demonstrate your ability to analyze and learn from real-world examples. 3. Apply Metrics to Hypothetical Scenarios Example Consider a scenario where you need to improve user retention for a mobile app. Identify relevant KPIs (e.g., Daily Active Users, Retention Rate) and propose data-driven strategies to enhance these metrics. >> Practice explaining your thought process clearly and concisely, showing how you would use data to inform your decisions. 4. Get Hands-On with Data Tools Example Gain experience with analytics tools like Google Analytics, Mixpanel, or SQL. Learn to extract, analyze, and interpret data to uncover insights. >> Highlight your proficiency with these tools during your interview, providing examples of how you’ve used them to drive product decisions. 5. Create Metric Dashboards Example Practice building dashboards that track key metrics for a product. Use tools like Tableau, Power BI, or even Google Sheets to visualize data trends. >> Bring examples of dashboards you’ve created to your interview to showcase your ability to monitor and interpret metrics effectively. 6. Link Metrics to Team and Org. Goals Example Understand how KPIs align with broader business objectives. For instance, how improving customer satisfaction (NPS) can lead to higher customer retention and revenue growth. >> Discuss in your interview how you would align product metrics with strategic goals, demonstrating a holistic understanding of the business impact. 7. Stay Updated on Industry Benchmarks Example Research industry benchmarks for key metrics in the sector you’re applying to. Knowing these benchmarks helps you understand what good performance looks like. >> Use this knowledge in your interview to show your awareness of industry standards and your ability to set realistic yet ambitious targets. By focusing on metrics and honing your ability to use data to drive decisions, you’ll be well-prepared to impress in your PM interviews. #ProductManagement #CareerAdvice #InterviewPreparation #KPIs #DataDriven #AspiringPMs

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20 Terms Every Smart PM Should Know (Explained in 1 Line Each) To be a great Product Manager, you need to know the basics Here's your quick, no-fluff guide 1. MVP: The first, simplest version of your product 2. User Stories: What your users need, written simply 3. Backlog: A list of tasks for later 4. Wireframe: A basic sketch of your app or site 5. A/B Testing: Compare two options to see what works better 6. API: How two apps share data 7. KPI: A number that shows your progress 8. Sprint: A short burst of work (1-2 weeks) 9. Roadmap: The big-picture plan for your product 10. Tech Debt: Extra work from quick fixes 11. Agile: Working flexibly in small steps 12. Scrum: Managing work in short cycles (sprints) 13. Iteration: Improving a little bit at a time 14. Persona: A fictional user to help design 15. Funnel: Steps users take to become customers 16. Churn Rate: How many customers you lose 17. Heatmap: Shows where users click the mos. 18. SaaS: Software users pay for monthly 19. User Flow: The journey users take in your app 20. Product-Market Fit: When your product solves a real problem for many Know these terms & you're on your way to being an awesome PM! Hope this helps many  ♥️ Repost ♻ to help Aspiring PMs #careercoach #sachinsharma #productmanagers

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20 Terms Every Smart PM Should Know (Explained in 1 Line Each) To be a great Product Manager, you need to know the basics Here's your quick, no-fluff guide 1. MVP: The first, simplest version of your product 2. User Stories: What your users need, written simply 3. Backlog: A list of tasks for later 4. Wireframe: A basic sketch of your app or site 5. A/B Testing: Compare two options to see what works better 6. API: How two apps share data 7. KPI: A number that shows your progress 8. Sprint: A short burst of work (1-2 weeks) 9. Roadmap: The big-picture plan for your product 10. Tech Debt: Extra work from quick fixes 11. Agile: Working flexibly in small steps 12. Scrum: Managing work in short cycles (sprints) 13. Iteration: Improving a little bit at a time 14. Persona: A fictional user to help design 15. Funnel: Steps users take to become customers 16. Churn Rate: How many customers you lose 17. Heatmap: Shows where users click the mos. 18. SaaS: Software users pay for monthly 19. User Flow: The journey users take in your app 20. Product-Market Fit: When your product solves a real problem for many Know these terms & you're on your way to being an awesome PM! Hope this helps many  ♥️ Repost ♻ to help Aspiring PMs #careercoach #sachinsharma #productmanagers #linkedinnewsindia #wednesdaywisdom

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🌟 Hitting Product-Market Fit: The Ultimate Checklist for Success 🌟 As product managers, achieving Product-Market Fit (PMF) is the holy grail – but how do you really know you’ve nailed it? 🤔 Here are 10 clear signs that you’re on the right track: 1️⃣ Customers Pull, Not Push 📈 Users actively seek you out, and organic demand grows without heavy marketing. 👉 Example: Dropbox’s waitlist skyrocketed from 5,000 to 75,000 overnight. 2️⃣ Users Become Your Sales Team 💬 Loyal users spread the word, fueling viral growth. 👉 Example: Zoom gained 1M users in 2016 – without spending on ads. 3️⃣ High Retention + Usage Growth 🔄 Customers not only stick around but also engage more over time. 👉 Example: Slack teams consistently increased their monthly messages. 4️⃣ The "Disappointment Test" 😢 Over 40% of users say they’d be “very disappointed” without your product. 👉 Example: Superhuman crushed it with a 58% “very disappointed” response. 5️⃣ Effortless Sales 💰 Sales cycles shrink, approvals are faster, and pricing power grows. 👉 Example: MongoDB slashed its sales cycle from 6 months to just 30 days. 6️⃣ Advanced Support Questions 💡 Users start asking for possibilities, not just basic "how-to" help. 👉 Example: Notion users began creating their own tutorials and templates. 7️⃣ Market Validation 🏆 Competitors copy you, analysts notice, and partnerships emerge. 👉 Example: Airbnb’s home-sharing model inspired hotel chains to follow suit. 8️⃣ Team Alignment 🎯 Everyone on your team is aligned with customer needs, reducing debates. 👉 Example: Stripe’s consistent API design built a loyal developer community. 9️⃣ Demand Outpaces Supply 🔥 The challenge shifts from attracting users to scaling for them. 🔟 PMF Is a Journey, Not a Destination ⚙️ PMF evolves as markets change – continuous adaptation is key. ✨ Takeaway: When you hit PMF, the market pulls your product instead of you pushing it. Look for multiple confirming signals and always consider your unique context. 💬 Which sign resonates most with you? Do you have a PMF story to share? Let’s discuss below! 👇 #ProductManagement #ProductStrategy #Leadership #Innovation #TechnicalDebt #ProductDevelopment #EngineeringTeams #SustainableGrowth #SoftwareDevelopment #PMWisdom #TechLeadership #ShipSustainably #PMLife #TechLife #ProductionIssues #CustomerExperience #Agile #DigitalTransformation #BuildBetter #DataBacked #GrowthSchool #UserCentric #StartupLife #NextLeap #ProductDiscovery #UXDesign #UserResearch #TechProduct #MarketValidation #ProductInnovation #ProductSuccess #LeanStartup #FutureOfWork #ProductLeadership #GoToMarket #EmpathyInAction #FailFast #PMFellowship #NextLeapPMFellowship #BuildMeasureLearn #InsightsDriven #CustomerCentric #CommunicationSkills #CareerGrowth #ContinuousImprovement #Entrepreneurship #TechTips #ProductMindset #ProductSpace #AlwaysOnStage

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I got the chance to interview the goat. Here are 𝟓 𝐬𝐮𝐫𝐩𝐫𝐢𝐬𝐢𝐧𝐠 𝐩𝐫𝐞-𝐏𝐌𝐅 𝐫𝐮𝐥𝐞𝐬 𝐡𝐞 𝐬𝐡𝐚𝐫𝐞𝐝 ⤵ 1. Your best chance to reach PMF is doing discovery 2. You shouldn’t hire a PM pre-PMF 3. If you don’t have PM skills, hire a Product Leader 4. Go-To-Market is part of the Product Strategy 5. The first PM should come between 20-30 employees Two months ago I got the chance to interview Marty. I asked him some existential questions about pre-PMF startup 👶 I didn’t see much of his content around this space... To my surprise, Marty had a few contrarian views on them! Here are the top 5 that stuck with me ever since. Together with some actual quotes from the discussion. 1. Your best chance to reach PMF is doing 'discovery' “If you're not doing real discovery during product market fit, good luck. “The single biggest reason for most failed startups is because they are not using the skills of product discovery to come up with something good”. 2. You shouldn’t hire a PM pre-PMF “I don't recommend that product managers even be hired during the seed stage. That's the co-founders’ job”. “If one of the co-founders is not an experienced product person, all I could tell you is I'm not investing” 3. If you don’t have PM skills, hire a Product Leader Sometimes the founders don’t have PM skills, so what should they do? In that case, Marty recommends hiring a leader, not a manager: “Hiring an individual contributor product manager is probably not going to help because you need somebody with the political clout and experience to essentially act like a co-founder” “An individual contributor product manager is not going to be treated like a co-founder." 4. Go-to-market is part of the product strategy Early stage, Marty says that the product strategy includes go to market: “For early stage, go to market is very much part of the equation. It’s a sort of dance between getting the product and the go to market to actually align. So yes, go to market is a huge part of that product strategy. It doesn't mean that multiple people don’t collaborate. Maybe a founder has more sales experience and the other one has product experience." 5. The first PM should come between 20-30 employees "Even when the founder has great skills, eventually they need to delegate. "I usually encourage those founders to wait as long as they can, because things it's, that's a very difficult hire." "As a general heuristic, usually, it's somewhere between 20 and 30 engineers." ----- Thanks again to Marty for coming on the podcast 🙏 And sharing his gospel. I'm curious to hear what you think about these statements. Do you agree? Have you seen counter-examples working? Take care 💜 Enzo #martycagan #thegoat #startup

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🧪 Hypothesis-Driven Development: A PM's Approach to Innovation Want to de-risk your product decisions? Hypothesis-driven development (HDD) allows PMs to experiment, learn, and iterate quickly. Here’s how to start: 🎯Formulate a Hypothesis: Start with 'We believe [outcome] will happen if [action] because [reason].' 🎯Run Experiments: Design controlled experiments to test your hypothesis. Analyze & Iterate: Use data to confirm, pivot, or discard the hypothesis. This approach turns uncertainty into structured learning, helping you build better products. How do you integrate experimentation into your product strategy?

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Cohort Analysis is a powerful tool that every product manager should have in their toolkit. It allows you to understand user behavior over time, identify patterns, and make data-driven decisions that drive growth. Here are some key fundamentals I am sharing: ◾ Define Cohorts: Group users based on relevant criteria to analyze their behavior as a group. ◾ Track Key Metrics: Monitor metrics like retention, churn, and customer lifetime value to understand cohort performance. ◾ Identify Patterns: Look for trends and patterns within cohorts to identify areas for improvement. ◾ Segment Cohorts: Break down cohorts into smaller segments to uncover more granular insights. Example: A SaaS company might analyze cohorts based on signup month to determine which acquisition channels are driving the most engaged customers. Cohort Analysis is not just about data; it’s about using that data to improve your product. It helps you understand the ‘why’ behind user behavior and guides you in creating a product that keeps users coming back #productmanagement #dataanalysis #cohortanalysis #customerretention

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Worthy Read: In defense of feature team product managers by Ben Erez After Marty Cagan appeared on Lenny’s Podcast to promote his new book, Transformed, lots of people stepped up to disagree with some of Marty’s spicier assertions, like the fact that product managers on feature teams are not real product managers. Lenny invited product advisor Ben Erez to write a guest post explaining why he believes this isn’t true and sharing his insights into why sometimes feature teams are the right choice. Note that you need to be a subscriber to read the full article, but you can still get a lot of value out of what’s available to everyone. Check it out here: https://buff.ly/4bDLKVi ❓ Do you think feature team PMs are undervalued compared to empowered team PMs? How do you see the role of feature team PMs contributing to a company’s success? #prodmgmt #ux #engineering

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Great Product Requirement Documents (PRD) might be more important for your PM career than you realize. This is where ChatPRD comes in. It can take a few notes and help you go from 0 to 1 very fast. Here's your guide on how to use ChatPRD like the best, with insights straight from the founding team. Aakash Gupta collaborated with the team behind ChatPRD, Claire Vo and Alisa Haman, to create the ultimate end-to-end guide for using ChatPRD. Here’s what you need to know: ◾ The story and evolution of ChatPRD ◾ Comparing ChatPRD vs ChatGPT side-by-side ◾ Understanding the range of ChatPRD’s use cases ◾ The big difference between prompting ChatGPT and ChatPRD ◾ How to optimize your ChatPRD setup for success ◾ How to prompt ChatPRD well ◾ Most common mistakes #ChiefProductOfficer #cpo #softwarebusiness #productsense #productstrategy #productvision #prd #saas #saasbusiness #saasstartups #saascompany #productleadership #saasproduct #saasgrowth #productplanning #productlaunch #productdevelopment #productmanagement #productmarketfit #pmf #productvalue #productgrowth #mvp #productsuccess #earlystagestartups #productmetrics #productdesign #productjourney #softwaredesign #softwaredevelopment #ai #chatprd #chatgpt #productrequirements #chatbots #aienabled #aipowered #aitechnology #artificialintelligence #ai4good #aitools #artificialintelligencetechnology #ai #conversationalai #generativeai #aiadoption #aiapplications #genai #generativeai #businessbenefits #startupnews #aistartups #nearfuture #aievolution #futuretechnology #technologyadvancements #technologyinnovation #gptprompts #startupdemo #businessbenefits #guide #productmanagercopilot #breakthrough #gtm #gotomarket #gtmai 

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