AI Is Taking Over the Skies—An Insider’s View Into the Travel Industry
August 21, 2024
74% of IT Pros Fear AI Will Make Their Jobs Obsolete — Are They Right?
August 21, 2024
AI Accelerates Start-Ups: A Difference Maker for Small Businesses
Artificial intelligence (AI) is revolutionising the way entrepreneurs start and scale small businesses, reports the New York Times. Sean Ammirati, a professor at Carnegie Mellon University, observed unprecedented progress in his students’ start-ups, crediting AI tools like ChatGPT and GitHub Copilot. These technologies streamline tasks like marketing, coding, and customer acquisition, making it easier for entrepreneurs to launch their businesses. This acceleration in the start-up process is drawing attention from venture capitalists, suggesting that AI could significantly impact innovation and job growth.
Practical AI Applications in Business
Entrepreneurs across various industries are leveraging AI to tackle complex tasks without needing extensive resources. For instance, Steven Bright, an emergency room doctor, used ChatGPT to navigate the legal and technical challenges of launching Skittenz, a company producing colourful mittens. Similarly, Jamie Steven, another entrepreneur, utilised AI to learn the basics of running a business and accelerate the development of his app, Orb.net. These examples highlight how AI is helping small businesses get off the ground faster and with greater efficiency.
The Future of AI in Entrepreneurship
The use of AI in start-ups is still emerging, but its potential to transform the landscape is becoming clear. Research suggests that newer businesses are more inclined to experiment with AI, which could lead to faster profitability and stability. Investors are already pouring billions into AI-related start-ups, indicating a growing recognition of AI’s role in driving economic growth. As AI continues to evolve, it is poised to become an indispensable tool for entrepreneurs looking to innovate and succeed in an increasingly competitive market.
(Visit New York Times for the full story)
*An AI tool was used to add an extra layer to the editing process for this story.
