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AI Will Make You Extremely Rich or Kill Your Business in 2024
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Preface: I'm a solo-founder in the AI space and previously worked as an ML scientist; the new advancements in AI that I'm seeing are going to impact everyone here. It doesn't matter if you're just starting out, or a bootstrapped brick and mortar founder, or even a VC backed hard tech founder. Last year was when the seeds were laid, and this is the year we'll see them bloom. There will be an onslaught of advancements that take place that are borderline inconceivable due to the nature of exponential progress. This will change every single vertical.

I'm making this post because I think AI execution strategy will make or break businesses. Dramatically. Over $50B was put into AI startups in 2023 alone. This figure excludes the hundreds of billions poured into AI from enterprises. So, let's follow the money:

1) AI enterprise software.

There's a lot to unpack here and this is what I’m currently working on. AI enterprise software will encompass everything from hyper personalized email outbound to AI cold calls to AI that A/B tests ads on synthetic data to vertical specific software. The impact of the former is relatively self explanatory, so I'll focus on the latter. To illustrate vertical specific AI software, I'll use a simple example in the legal space. Lawyers typically have to comb through thousands of pages of documents. Now, using an LLM a VDB, an AI can instantly answer all of those questions while surfacing the source and highlighting the specific answer in the contract/document. There are dozens of AI startups for this use case alone. This saves lawyers an immense amount of time and allows them to move faster. Firms that adopt this have a fundamental advantage over law firms that don't adopt this. This was 2023 technology. I'm seeing vertical AI software getting built by my friends in areas from construction, to real estate, to even niche areas like chimney manufacturing. This will exist everywhere. Now, this can be extrapolated much further to be applicable to systems that can do reports and even browse the Internet. This brings me to my next point.

2) AI information aggregation and spread.

My gut tells me that this will have a crescendo moment in the future with hardware advancements (Rabbit, Tab, etc.). You won't have to google things because it will be surfaced to you. It's predictive in nature. The people who can get information the fastest will grow their business the fastest. This part is semi-speculative, but due to the nature of LLMs being so expensive to train, I have a strong feeling that large institutions will have access to the \fastest** and \best** models that can do this quicker than you and I can. This is why it's important to stay on top.

3) AI content generation

This is relevant to running advertisements and any digital marketing aspect of your business. If you can rapidly make content faster than your competitors to put in social media, you will outpace your competitors rapidly. I think most folks are familiar with MidJourney, Stable diffusion, etc. but don't know how to use it. You can generate consistent models for a clothing brand or generate images of a product that you would normally need to hire a professional photographer to take. There's also elevenlabs which is relatively easy to use and can be used to make an MP3 clip as a narration for an ad; this is something I've already done. I'm also still shocked by how many people are unfamiliar with tools like Pika which can do video generation. You could imagine companies having fleets of digital influencers that they control or conjuring up the perfect ad for a specific demographic using a combination of all of the aforementioned tools.

In summary, if you feel like I'm being hyperbolic or propagating science fiction fantasies, you're likely already behind. I truly recommend that everyone stays up to date on these advancements as much as possible. If your competitor comes across an AI tool that can increase their ROAS by 5x they can crush you. If your competitor uses a tool that increases the rate at which they receive and aggregate information by 200% (modest estimate) they will crush you. If your competitors have a tool that can reduce their employee size, then they will use it. They'll fire their employees to cut costs and reinvest the money back into their business. It will compound to the point where you're outpaced, and this isn't a level of innovation we've seen since the birth of the industrial revolution. Your customers can get stolen overnight, or you can steal your competition’s customers overnight.

TL;DR: This is an opportunity for entrepreneurs to scale faster than they could have possibly imagined, but this also comes with the potential for your company to be obliterated. We've never seen advancements that can have this drastic of an impact this quickly. Adoption will happen fast, and first movers will have a disproportionate and compounding advantage. Watch guides, meet with startups, follow the news, and get rich.

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i clicked on the one that op linked

whoever approved the mindy website design should be fired

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