⭐ 𝐅𝐨𝐜𝐮𝐬 𝐨𝐧 𝐭𝐡𝐞 𝐏𝐫𝐨𝐛𝐥𝐞𝐦 𝐅𝐢𝐫𝐬𝐭, 𝐍𝐨𝐭 𝐭𝐡𝐞 𝐀𝐈: 𝐓𝐡𝐞 𝐊𝐞𝐲 𝐭𝐨 𝐒𝐭𝐚𝐫𝐭𝐮𝐩 𝐒𝐮𝐜𝐜𝐞𝐬𝐬 My startup mentoring sessions have become exciting lately. I’ve noticed a clear pattern with early-stage startups reaching out for guidance. They fall into two distinct buckets: 1️⃣ Those focusing on 𝒊𝒎𝒑𝒍𝒆𝒎𝒆𝒏𝒕𝒊𝒏𝒈 𝑨𝑰 into their products. 2️⃣ Those focusing on 𝑨𝑰 𝒖𝒔𝒆 𝒄𝒂𝒔𝒆𝒔. The first group tends to dive straight into the tech. Their questions revolve around which AI models to use, what tech stack to build, or how to fine-tune and optimize their algorithms. It’s a highly tech-driven conversation from the get-go. The second group, however, starts differently. They begin with the use case—discussing the problem they’ve identified, the gaps in the market, and how they can solve it. Only after that do we explore if and how AI could add value. I find these 𝒔𝒆𝒄𝒐𝒏𝒅 𝒄𝒐𝒏𝒗𝒆𝒓𝒔𝒂𝒕𝒊𝒐𝒏𝒔 much more enriching. Why? Because we aren’t rushing to assume that AI is some magical fix. Instead, we invest time in understanding the problem and where technology, including AI, can act as an enabler rather than the solution itself. 🔑 𝐇𝐞𝐫𝐞’𝐬 𝐚 𝐭𝐢𝐩 𝐟𝐨𝐫 𝐬𝐭𝐚𝐫𝐭𝐮𝐩𝐬: Focus on the problem your product is solving before jumping into tech discussions. It’s tempting to force-fit AI into every product just because it’s a hot trend. But trust me—if AI isn’t genuinely needed, it could end up consuming valuable resources and delaying your time to market. 𝑺𝒐𝒎𝒆𝒕𝒊𝒎𝒆𝒔, 𝒕𝒉𝒆 𝒂𝒏𝒔𝒘𝒆𝒓 𝒕𝒐 𝒚𝒐𝒖𝒓 𝒑𝒓𝒐𝒃𝒍𝒆𝒎 𝒎𝒊𝒈𝒉𝒕 𝒏𝒐𝒕 𝒆𝒗𝒆𝒏 𝒓𝒆𝒒𝒖𝒊𝒓𝒆 𝑨𝑰 𝒂𝒕 𝒂𝒍𝒍. 🧠 #StartupMentoring #AI #TechStrategy #ProductDevelopment #UseCaseDriven #Innovation #AIInStartups
Vignesh Kumar’s Post
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21 billion USD investment in just 5 months? Can you guess which field I want to mention here? According to PitchBook data: Investors are recognizing the incredible value and potential of startups in Asia, pouring over $21 billion into generative AI startups since the beginning of this year through September 30, 2023 - up from $5 billion in 2022. Besides, more than 5,000 generative AI startups are building their solutions, disrupting industries with fresh ideas and locally relevant solutions. These small yet dynamic innovators are actually transforming the landscape with their ground-breaking achievements, navigating the quickly evolving technical field with astonishing commitment. However, despite their commendable success, startups face significant hurdles, such as resource limitations, ethical and regulatory complexities, and integration obstacles. This is where our CoFounder Pilot steps in! By leveraging AI intelligence, CoFounder Pilot enhances key metrics, making innovation more straightforward, faster, and effective. With CoFounder Pilot, you can confidently communicate the unparalleled value of your products and services to your ideal customer, propelling your startup to new heights of success. Ready to revolutionize your startup journey with AI-powered innovation? Join the waitlist now and let CoFounder Pilot be your partner in success: https://lnkd.in/gqeBBCCq
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# A Startup’s Guide To Gaining Competitive Advantage With Generative AI In today's turbulent economic landscape, startups are encountering unprecedented challenges. With reduced funding, slowed IPOs, and multiple rounds of layoffs across tech companies, getting a business idea sponsored and taken off the ground is harder than ever. So, what's the secret sauce to standing out in this competitive environment? The answer increasingly lies in leveraging Generative AI. As aspiring entrepreneurs and founders, understanding and harnessing the power of Generative AI can be a game-changer. Here's how you can utilize this technology to gain a competitive edge: 1. **Innovation in Product Development:** Generative AI can help you craft unique products by exploring vast design spaces that humans might overlook. By generating new ideas and prototypes rapidly, startups can bring innovative solutions to market faster. 2. **Personalized Customer Experiences:** Utilize AI to analyze customer data and deliver highly personalized user experiences. This can lead to increased customer satisfaction and loyalty, setting your startup apart from the competition. 3. **Operational Efficiency:** Automate repetitive tasks and streamline operations to reduce costs and free up valuable time for strategic initiatives. By doing more with less, startups can stretch every dollar further. 4. **Predictive Analytics:** Make data-driven decisions by leveraging AI to predict market trends and customer needs. This foresight allows startups to pivot swiftly and stay ahead of industry changes. 5. **Enhanced Marketing:** Create compelling and targeted marketing content using Generative AI. Personalize messages at scale and engage with your audience more effectively. Implementing Generative AI isn't just about adopting the latest technology; it's about integrating it into your core processes to drive growth and innovation. Those who leverage AI effectively will not only survive the current economic downturn but will emerge stronger on the other side. To explore more about how Generative AI can propel your startup, check out this insightful article from Forbes: [A Startup’s Guide To Gaining Competitive Advantage With Generative AI](https://lnkd.in/eTxTPi35). #StartupSuccess #GenerativeAI #Innovation #TechStartups #Entrepreneurship #BusinessGrowth #ArtificialIntelligence #Forbes #BusinessDevelopment
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Hi Jeffrey! The reasoning and rationale you exhibit in this post are oriented towards increasing marginal profitability in the near and medium terms. But in exchange for accumulating additional golden eggs now, I'm concerned that this reasoning severely endangers the goose later. As it turns out, this is the one functional goose we all rely on as it serves our many diverging interests imperfectly. Writ large, or taken to its logical conclusion, ANY opportunity to trim or wholly eliminate human headcount as an input in the processes of production should be embraced. I often write and/or comment about the demand side's "convenience trap;" well this would be the corollary on the supply/capitalist's side. Eventually, a tipping point is reached -- same as with relying on massive increases in national debt/deficit spending to fund/finance social goods such as infrastructure spending and human capital investment, so too will a threshold be reached whereby consumer spending (the economic deployment of wages and discretionary gains from capital) will prove no longer able to power 70% of American GDP. A more astute observer might conclude that any ego-driven desire to prove my point in this public forum, however advantageous in the immediate term, can or will hamstring me in the long run were the more powerful & connected to sour on my perspectives. The same can be said of maximizing any short-term profits aided by artificial intelligence in general and LLMs in particular. There will be tradeoffs. I solemnly hope that this post is indeed food (from a golden egg) for thought because winning some small battles can be tantamount to losing more comprehensive wars that drag on with no end and with no clear winners in sight. IMO.
General Partner and Co-Founder, Flybridge Capital Partners; Senior Lecturer, Harvard Business School
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Wow, I had Gemini summarize the post for our upcoming No-code AI tools workshop description and this is what it gave me. Seems too hyped and salesy. What do you think? We will attack more questions like this in the workshop series. See you there. 🔗 https://fi.co/e/358159 🚀 Supercharge your startup with AI! 🚀 Join our free workshop, "Prompt Generators: The NEW Secret Weapon for AI-Powered Success" and learn how to harness the power of AI prompt generators to skyrocket your business growth. We'll demystify prompt engineering and teach you how to generate winning marketing copy, analyze content like a pro, and ignite groundbreaking product ideas – all with the help of AI. Bring your computer and be ready to apply your learning to improve your pitch deck! 💻 Get hands-on experience and transform your pitch deck in real-time! This workshop is designed for founders, entrepreneurs, investors, and marketers ready to embrace the AI revolution. No tech jargon, just practical strategies and interactive exercises to help you master the art of prompt crafting. Register now and unlock the true potential of AI for your startup! 🔗 https://fi.co/e/358159 #AI #startups #promptengineering #innovation #entrepreneurship #marketing #HKFounderInstitute #SEEDEFY Laurent Koehler, John D. Evans, CFA, Catherine Somi, Lavine Hemlani, Phil Ingram, Carolyn Li, Founder Institute Hong Kong, Founder Institute AI ASEAN 🔗 https://fi.co/e/358159
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AI won't replace startup founders anytime soon. That's taking things too far. But I am certain that founders who use AI will replace those who don't. Building a startup has always been a game of making the most of limited resources. As my retired colleague Professor Howard Stevenson liked to say, "Entrepreneurship is the relentless pursuit of opportunity beyond resources controlled." In your quest for product-market fit, every dollar and every minute counts. AI helps every dollar go further. It allows you to get things done in hours that used to take weeks. Matt Mireles, founder of Flybridge portfolio company TalkTastic, created a customer support workflow in just 4 hours thanks to ChatGPT, Claude, and Zapier... just 96 hours before launch. See the video below where Matt introduces himself to his customer. This example is a 10x Founder in action. Investors want to back folks like Matt who can get so much done in a fraction of the time and for a fraction of the cost. Who know how to build AI-forward, AI-native startups from the ground up. Matt's customer service prototype is just one small example of the immense leverage that founders now have at their fingertips. What are you doing to take advantage of building in the Age of AI? #ExperimentationMachine #AIforStartups 🤖 I write about building startups in the age of AI. Subscribe to the Experimentation Machine newsletter: https://buff.ly/3viAAGH
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Building at the intersection of Food and Technology | Helping Organizations and Individuals thrive in the Digital/AI age.
3moI echo this 100 pc. The obsession with AI being the answer to everything is mind numbing. Really good founders start with the second approach and most likely end up with the following three buckets. 1. No AI needed 2. AI + Non AI hybrid solution 3. Solved by AI. 1 and 2 are more common if the problem is thought from a first principles perspective.