Please feel free to provide evidence-based best practices, share a micro-victory, discuss strategy and concepts with a frame work, ask for feedback, and create professional conversation. Treat every post as if you're at work and representing the best version of yourself.
Have you noticed a real market need that can be solved through some specific ML model or you plan to strap chat GPT to the first idea to try get rich on the AI hype train?
Businesses work just the same today as they worked 10 years ago. You need to find a pain to sell a solution. Strapping the AI label to crap won’t turn it to gold
Don’t worry so much in the first place. A big part of the AI projects being build now are wrappers around chatGPT. Besides this you forgot that 99% of VC funded startups fail. My suggestion is that you ignore the hype and focus on finding a problem to solve while making sure you’re making a sustainable business.
Find AI products that you like but see how you would improve them. There are many successful bottled water companies. There can be multiple AI products especially since we are still in the early days of AI.
AI is just a tool (obviously, kinda popular for now). Focus on the idea, what you can make for people.
I avoid it like the plague. Full of snake oil salesman selling bs. It'll be more ponzi than crypto at the moment. Wait till the tide goes out and see what's genuine. I'd even consider getting a job in a Boring ai niche before considering second mover advantage. I'd look to sell pickaxes rather than chase the gold rush. What do these ai companies need?
Develop an AI. That will always direct you to the nearest All You Can Eat Clam Bar
The thing about AI is that it can be everywhere. Automate your niche with AI.
You already know the process, Automate it.
Once you have a solution that saves time to logistic companies they'll pay good money for it.
Everyone, use AI to Automate the processes you understand the most. It'll come out as the most effective solution which you could make money out of it.
Best of luck🙂
Don't seek for a perfect AI new tech, seek for a new problem to solve, may be it will use AI, or may be - not. But as an entrepreneur - you need to invent a solution for an existing problem. Start with people, not with tech.
Always start with the problem you want to solve. AI becomes the team that helps you solve the problem. Then you charge people with the problem.
As many others have said, identify a problem that needs to be solved.
I personally have known of a problem for many years that I've wanted to build a platform to solve but I just don't have the time. Now with ChatGPT I can probably do it in a couple of weeks. But I still don't have the time because I'm in the middle of marketing my current startup that is doing well.
In this case I would build an MVP that would solve the problem pretty quickly and then monetize it shortly after.
Identify the problem, and provide the solution.
Great job
We at aii.cx start with the problem:
Low conversion rate on the website from traffic
With our service, website owners can create beautiful and useful AI tools on business topics and embed them on their websites. Website visitors can use this AI tool to get valuable answers and submit their leads. With these tools, our clients can boost conversions by up to 42%.
We help businesses solve a very common problem, which is why we have many clients. We also offer a free plan with generous limits. Everyone can fully try it before purchasing a paid plan.
Sell shovels
I wouldn’t build a new AI. I would do a service based biz surrounding AI.
Become a consultancy helping smbs implement solutions and streamline ops with existing AI tools.
Saves them money on current processed and supercharges their decision making, gives them more clarity on their business and puts them ahead of their competitors operationally.
Tough truth: if you have to ask you won't.
Here’s exactly what I am doing @ $70k+ a month.
First I just want new clients on a plan with me. I get most of them in by building them a site and then I offer ai services on top of their already reoccurring payment.
I have been in tech for around 10 years working as a dev.
I started an agency with the goal of helping businesses implement ai. So far almost none can really utilize it, maybe 20% of the hundreds of business owners I’ve onboarded understand it, and even less understand the benefits.
I decided to redesign my cold out reach strategy. I use outscraper to search and create spreadsheets of local businesses in the niches I focus. I sort the “website” column and keep only the businesses that have a blank in the website column. For each niche I’m targeting I created a template website where I then edit it, slap on their logo, change some text, and finally record a quick video going through the site, save video. I do this for all the companies on the spreadsheet. Then I will call them highlighting their place on google business (usually it’s 2nd page or worse because no website).I point out the mixture of negative reviews and how I can fix it. Email Them over my business info, the video, and how For $500 a month I’ll build and host the site with x monthly number of updates, and a few other services such as appointment booking, automated follow up/call back, CRM system, etc.
I’ve gotten this down to a science. The real money making comes in when clients ask me how they can grow. This is where I start offering some services with ai which include live chat bots on their site that are trained on everything related to their business and can act as a sales rep and even capture potential lead info, an auto blogger writing content for their niche driving traffic, helping them create new content leveraging ai, and the list goes on. These things are so new that you can often name your own price. So far out of 40 clients with ai services maybe 2 didn’t work out well. But I’d say for the ones that did, they went well because I already proved myself through the site offering so they trust me and didn’t even blink at the pricing.
If someone wanted to repeat what I am doing I would say this guy is probably the one that really got me going. I started the agency in June. https://youtu.be/HCM6ae9IH8E?si=lY0p5bK9OFK4c6x0
After trying many different ideas I think you must come out with something more than just a AI software. You could make a product or service that use AI, but not entirely based on AI. I heard different VCs moving more on this types of companies
I’ve been studying a very niche area using AI in sports science for 4 years now (all solo)
And when ChatGPT came to the seen I knew it was time for me to make my shot and monetize a lot of the research I have been doing.
So I recently launched my application - Olyup
This is my pitch: Ever wish you had a personal sports scientist and data analyst in your pocket? Meet Olyup: An AI chatbot that's not just revolutionizing sports performance, but also your personal data-driven insights. From nutrition and fitness to recovery and mental strategies, Olyup analyzes and elevates your game, all in real-time. Upload files, view detailed performance graphs, and get a comprehensive analysis at your fingertips. Whether you're an athlete, coach, or fitness enthusiast, Olyup is here to help you unlock your max potential, backed by data.
Can find the application here: https://olyup.tech
My strategy so far has been engaging with people on Twitter/X and have been getting users (some have even converted to paying)
The same way you pursue any other entrepreneurial endeavor, find people with a problem, solve their problem, monetize the solution. There’s more than one grocery store, pest control company, and dog food manufacturer in the world, and there’ll be more than one AI that can do any given task.