Is Your Business Ready for the AI Invasion!

Created 89 days ago
by RitaP

Categories: categoryAI Insights
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by Tyler Kelley

Picture this: you’re chugging along, doing business as usual, when suddenly an AI-powered startup swoops in and starts poaching your customers.

They’re faster, cheaper, and more personalized than you can ever hope to be. Your revenue starts to dry up, and before you know it, you’re just another legacy company on life support.

Sound far-fetched? It’s not.

I’ve been in the trenches with generative AI since December 2022, and I’ve seen firsthand how these tools can give startups a massive advantage over traditional businesses. If you’re not paying attention, you’re going to get left in the dust.

Here are five reasons why AI-powered startups are a serious threat to your business:

1. They can serve your customers from anywhere. Geography is no longer a moat. If you’re not delivering exceptional value, your customers will flock to the AI-powered upstart that can.

2. They can personalize at scale. With AI, startups can tailor their offerings to each individual customer’s needs and preferences. If you’re still using a one-size-fits-all approach, you’re going to look ancient by comparison.

3. They can innovate at breakneck speed. AI tools allow startups to test and iterate new ideas at a fraction of the time and cost. If you’re still relying on manual processes and legacy systems, you won’t be able to keep up.

4. They can undercut you on price. With the efficiencies gained from AI, startups can offer lower prices while still maintaining healthy margins. If you’re not careful, you could find yourself in a race to the bottom.

5. They’re not bogged down by bureaucracy. Startups can make decisions and pivot on a dime. If you’re encumbered by red tape and slow-moving committees, you’ll always be playing catch-up.

So what can you do to protect your business from the AI invasion?

Here are four strategies:

1. Adopt AI tools yourself. The best defense is a good offense. Start experimenting with AI in your own business. Find ways to automate processes, personalize offerings, and innovate faster.

2. Focus on your unique value proposition. What do you offer that no AI can replicate? Lean into your domain expertise, your relationships, your brand. Make yourself indispensable.

3. Invest in your people. Your employees are your greatest asset. Upskill them on AI so they can help drive your adoption. Empower them to find creative ways to work alongside AI tools, not against them.

4. Stay vigilant. AI is evolving at an incredible pace. What’s impossible today may be trivial tomorrow. Keep your ear to the ground, stay informed about the latest developments, and be ready to adapt at a moment’s notice.

The AI revolution is here, and it’s not going to wait for you to catch up. If you’re not taking steps to AI-proof your business, you’re leaving yourself vulnerable to disruption.

Don’t be the next cautionary tale. Don’t let some AI-powered upstart eat your lunch. The time to act is now. Embrace AI, focus on your strengths, and innovate like your business depends on it. Because it does.

Tyler Kelley is the Co-founder and Chief Strategist of SLAM! Agency, where he helps mission-driven organizations and innovative businesses amplify their impact to drive meaningful change. In this column, Tyler provides actionable insights to help businesses and leaders navigate our increasingly AI-driven world.