Key Takeaways from MAICON and How AI Can Transform Your Business
ASMM Digital has been using AI in different forms for almost 4 years. Over the past year, I have personally made it a mission to learn more about AI, how I can use it to do a better job for my clients, and how I may be able to help my clients and networking partners embrace it for their businesses as well.
Last week, I had the opportunity to attend MAICON in Cleveland, Ohio, and I wanted to share with you some exciting insights that could revolutionize the way we approach AI in our businesses.
Rethinking AI: From Cost-Saving to Revenue-Building
Most of us have been viewing AI as a means to save costs within our organizations. However, this mindset is limiting our potential. Instead, let's shift our perspective and think of AI as a way to build revenue and grow our businesses. Imagine using AI to automate repetitive tasks, allowing us to free up our staff to focus on client experience, sales, and other areas of growth.
Leveraging AI Like ChatGPT for Business Growth
Many business owners are not fully utilizing Language Models (LLMs) like ChatGPT to their advantage. These AI tools can be instrumental in tasks such as market research, lead generation based on conversion probability, campaign forecasting, building audience personas, and understanding customer pain points and needs. It is important that we, as business owners, harness the full potential of AI to gain a competitive edge. We are on the cutting edge right now. If we can use it to our advantage early, we will be the pioneers in our industries.
Identifying Business Problems and Applying AI Solutions
Before implementing AI solutions, it's crucial to identify the problems within our businesses. Instead of asking if AI can solve a specific issue, let's make a comprehensive list of challenges and assess their potential value to our business if solved. For example, You currently get more leads in than you can handle. Because you have no way to filter out the good from the bad. If you solved this problem it could mean 10 more qualified leads a day. Those 10 leads may have a 60% conversion. How much revenue will that add to your business? Once you have these needs defined, then you can start looking for AI solutions to the problems. This will help us prioritize and find the most effective AI solutions.
AI's Impact on SEO and the Importance of Branding
SEO is going to be impacted by AI. Every search engine has indicated that they are putting AI at the front of their businesses. The general consensus is that this will mean people are more likely to find your business on their AI model than on the search engine itself. The problem is that most smaller businesses, as in smaller than Coca-Cola, Mercedes, or Paramount Studios, will suffer. You will most likely not be found on ChatGPT.
So, what are you doing today to build your brand? Social media, local news, podcasts, and speaking engagements are no longer a nice-to-have. If you want to survive the age of AI, you need to start considering branding today. You need a strategy.
Using AI to Simplify Your Life as a Business Owner
Finally, you can start using AI to make your life as a business owner easier. Here are just two examples of how AI can simply your life.
1) Summarization
If your meeting notes are not proprietary, you can add those to ChatGPT, ask it to summarize the notes, and specifically point out action items from the meeting.
2) Explanation
At MAICON I had the opportunity to hear Christopher S. Penn, co-founder and the chief data scientist of TrustInsights.ai, speak. He suggested using AI to explain things in terms of something you already understand. For example, I asked ChatGPT, “Explain this to me in terms of running - "The goal of thermal field theory is to describe a large ensemble of multiple interacting particles, including gauge interactions, in a thermal environment," Mustafa says. "It also describes the creation and annihilation of new processes in a thermal system that are not present in vacuum or conventional field theory. Thermal field theory is a useful tool by which a complicated many-body system can be addressed only through the thermal averaged properties observed over a long period of time." Read the response that ChatGPT generated here.
Big News From ASMM
On a more personal note, ASMM Digital is launching a new division, ASMM AI Consulting. Stay tuned for more information.
Let's embrace the potential of AI and stay ahead in our industry. Together, we can unlock new opportunities for growth and success. If you're interested in exploring how AI can transform your business, whether through speaking engagements, consulting services, or other AI-related initiatives, please feel free to reach out to me directly by contacting us at 443-679-4916