Partnering with Miami company JPMorgan Chase to bring AI-powered strategic consulting to small and medium-sized businesses

The partnership between JPMorgan Chase and Miami-based company Consulting IQ is set up to rebuild the landscape of small and medium-sized businesses (SMBs) and provides access to high-level strategic consulting tools powered by artificial intelligence.

This platform offers a wide range of features for SMBS. From developing sales, marketing and financial strategies to predictive analytics, industry-specific key performance metrics and comparisons of real-time economic scenarios.

“Most of these companies can’t afford traditional consultants. Our solutions provide the same advice as blending AI with a real human expert who tests all the responses,” says Diego Medone, founder and CEO of ConsultingIQ.

Through strategic alliances, JPMorgan Chase has become an operational partner to consult with IQ, but the relationship goes far beyond logistics. By leveraging its global reach, companies are developing initiatives to support the entire bank’s ecosystem, including their own companies and clients.

With a large number of SMBs in its portfolio, JPMorgan Chase sees this as a way to provide added value. Consulting IQ will serve as a 24/7 strategic business consultant for these clients, Medone told the Miami Herald.

The platform helps businesses protect their core operations, expand intelligently and operate more efficiently.

Medone highlighted that out of the 400 million companies worldwide, 99% are small or medium-sized, and 65% are at risk of failing within the first five years.

Consulting IQ aims to solve this problem by providing affordable consulting services. Traditional consulting costs a lot of SMB reach between $500 and $2,000 per hour.

The platform combines AI, data-driven tools, and predictive analytics with monitoring from human consultants to ensure advice is relevant and impactful.

Unlike typical AI systems, consulting IQ was specifically built to address the business challenges identified in thousands of interviews with entrepreneurs around the world.

AI across all business functions

ConsultingIQ provides advice in all key business areas, including strategy, sales, marketing, process improvement, tax, regulatory compliance, employment, and more. It is multilingual and supports English, Spanish, French, Italian, Japanese, German and more. It also has multiple conversion memory, allowing users to build on previous sessions.

For aspiring entrepreneurs, the platform provides a roadmap to assess whether an idea is viable and profitable, determining the steps and legal requirements needed to operate in a particular market, and how to successfully plan your business.

The platform is already in use by businesses around the world, including South Florida entrepreneurs. According to Medone, one person reported that within four months, sales increased by 60%, while another reported that they saved 30 hours a week in the decision-making process.

ConsultingIQ serves businesses in all fields, from tourism and construction to manufacturing, e-commerce, financial services and hospitality.

Companies can register and try out the free version at consultingiq.ai/. After that, you can use the paid plan.

Business born from the crisis

Medone got the idea during the Covid-19 pandemic after noticing a wave of small business closures. He envisioned providing SMBS access to strategic guidance on the same level as big companies for a small portion of the cost.

“With over 15 years of experience working with artificial intelligence, I wanted to first examine the size of the problem. There’s a risk that 65% of these companies will disappear,” he said.

After conducting interviews and confirming the lack of SMBS support, the company has pledged to develop a scalable, intuitive and cost-effective strategic consulting platform tailored to the needs of small and medium-sized businesses.

“What drove us was our desire to help these companies survive and thrive, and we wanted to give them access to insights that were once reserved for just a few people.”

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