Edition 4 - 041924

4 Minutes of AI & Automation

What to expect:

• Your Friday treat bridging the gap in your mind that’s still asking: “Okay… but why is AI valuable to me?”

• This will be part 1 so I’m letting you know now there’s going to be a minor cliff hanger

Without further ado…

What every CEO should know about Generative AI:

You know the generative AI storm I’m talking about.

You know the unrelenting pressure to accept yet another paradigm shift in the technology world or be left behind.

Is this more tech hype? Or what are we actually doing here?

If this is actually some game changing stuff then how is it valuable to my business?

Before we go right into the deep end.. let’s take one step back and introduce some of these concepts.

Why Generative AI?

Simmer on this: Generative AI is the most recent evolution in 60 years of AI development as a whole.

The reason Gen AI is so powerful is because its the first application of AI that is able to generalize AND can understand inputs like text (language), images, video, etc.

It no doubt beats the past actions of simple classification and prediction.

We’re talking content created from a computer that has the ability to reason and generate output that is becoming more indistinguishable from human output.

Let me stop you here.

Go back and reread that.

Value creation from computers for business applications.

That’s what we’re dealing with here.

I hope you aren’t taking that lightly and allowing your mind to be blown.

Let’s continue…

“Give me one good reason Generative AI is worth my attention.”

As a whole, the main function is to enhance organizational effectiveness.

Put simply, the tech is here to help you do better. That’s it.

If you’re a business owner, you’re in the business of making money. Gen AI is probably the most powerful money making tool that has been invented since the birth of the internet.

What can it help you do better?

Classifying, editing, summarizing, answering questions, and drafting content.

That’s all just the first step.

You can actually think of Generative AI as a tool that learns your systems and replicates that work.

Like a virtual employee!

That’s the true power.

It’s ability to understand your workflows and eliminate the manual work your team is doing now.

Before you look to start scaling out a new team member - first consider if it’s possible to improve your existing team by augmenting their speed through an assistant that can read documents, process data, and generate new data exactly like a human would.

Now imagine using those tasks across any case:

Customer care, copywriting, graphic design, video creation, business analysis, technical support, content generation, custom solutions…

The list has no end.

With generative ai increasingly automating tasks, performing specific actions, and being integrated into enterprise workflows - the increase in the generalist population is tenfold.

You could go from a square that fits in a square hole…

To the king of leveraging LLM’s and gen ai to create your competitive advantage.

Okay I got slightly off track but where were we?

Right.

The excitement of Generative AI, considerations, and business opportunities.

Let me just give it to you straight.

The exploration is a must, not a maybe.

With the limitless range of use cases the question you should be asking is not if you should look into the technology.

You should instead ask: “How do I find my own profitable case and where do I start?”

The alternative is over theorizing and inaction could mean falling behind competitors.

I mean look at what you’re reading right now, the chances of someone else coming across similar thoughts and a push to change is very likely.

Gen AI is holding the potential to benefit all types of work.

Yes automating tasks is dope but much of its value is going to lie in how we integrate the technology into existing tools used by workers and businesses.

So where are we going from here?

Next time around we’ll dig into organizing for Generative AI, balancing risk, value creation, best way to leverage the tools, and the talent/skills required.

But who knows?

There’s so much going down day to day that we might just stumble upon something crazy before we talk next.

Two lessons you should take away from todays 4 Minutes of AI & Automation are:

1. Start small

You can always start with a basic tool like Claude or ChatGPT - do something as simple as chatting and asking what can you help me with?

Then move into something like generating an outline for the newsletter you’re writing so you have a guide that helps you… oh wait that’s what I’m doing.

You get it though?

Just do something.

Let your mind grapple with what’s really going on between you and the computer then build off of it.

This approach will help you navigate your journey much more clearly.

The next thing that will help is our Step by Step Guide to Language Models which has everything you need to learn the basics and deploy the best practices.

2. Costs to pursue

Like everything, there’s some costs associated depending on the use case and the data needed for software, cloud infra, technical insight, and risk mitigation.

Don’t overlook this, compare the practical benefits/risk and move forward accordingly.

Everything else aside for a sec

The fastest thing you can do now is to build a basic business case first and allow that to propel you into new projects.

I hope this was helpful to you.

Let us know if there are any questions you would like answered next week.

And as always…

If you’re ready to start keeping up with our inevitably AI abundant future, we’ve got you with the support.

🥂

The PressW Team

P.S. Whenever you’re ready, there’s a few different ways we can help you:

#1 Ready to understand exactly how your business would benefit from custom AI solutions? Let’s chat. >>> Request a 1on1 clarity call with our CEO, Tarun here

#2 Looking for the resource you need to train, build, and maintain your own personal agent? Access our Step by Step Guide To Custom Language Models.

#3 Have you seen Tarun’s LinkedIn? He’s putting a ton of energy into creating easy to understand content on how AI works in biz. Check out his stuff and give him a follow to keep up with more.

#4 Need a place to dive deeper into AI topics and learn something new every week? Bookmark The PressW Blog curated by developers and engineers working on today’s AI projects