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People are using AI in the wrong places. [music] They're trying to start AI businesses when they shouldn't start AI
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businesses. They should use AI in their business and they're trying to advertise
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as AI businesses when you should just advertise the thing that your customer cares about, which is
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>> [music] >> How can we use AI to do the things that are the normal functions of the business
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way better, way faster? [music] What I'm seeing a lot, especially with founders or people who are starting out, is
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they're using AI to do a lot of dumb things really fast and they're trying to build companies that the models are
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going to swallow [music] up pretty much immediately anyway so already have for super users and it's just going to like
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become easier. And the question that I would ask for the entrepreneurs who are AI maxing [music] right now and again, I
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think it's very good to adopt new technology, is are you making more money? Just the very simple, are you making
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more money now? I had a business I looked at the other day. They had 11 VAs that were doing [music] data cleaning
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work. VAs? Yeah, virtual assistants. So, low-skilled labor overseas that was doing work and I think it was something
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in the neighborhood of like $11,000 a month is what they were paying for these 11 [music] VAs. And they were doing a
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good job and it all worked. They then spent $350,000 to try and create an AI system that
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[music] would replace what these 11 virtual assistants were doing. But that means they spent three plus years of
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costs on what these 11 virtual assistants were doing. And >> [music] >> it wasn't even the constraint of the
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business. It was just a process that they could automate, not that they should automate
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it because it's not the thing that's limiting their growth. And so they still [music] need more customers. That wasn't
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the limitation. They didn't have enough demand. People are using AI in the wrong
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places. They're trying to start AI businesses when they shouldn't start AI businesses. They should use [music] AI
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in their business. They're trying to advertise as AI businesses when you should just advertise the thing that
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your customer cares about, which is the solution to their problem, [music] the outcome. None of that's changed, but
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because you got really excited about it, you think your customers are going to be
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excited about it. A lot of people are afraid of AI. Um [music] so it's not necessarily even a positive and it's not
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making you more money.