⚡️ Entrepreneurship + AI ⚡️

Today in your AI Report:

• 💻 Case Study: Going From $0 to $25M in a Basement

• 🤖 3 Ways to Use AI to Win

  • Learn Anything Faster

  • Make AI Your Personal Consultant

  • Use AI Assisted Automations 

• 📚 Further Reading and Supplemental Resources

Read Time: 11 Minutes

Together with Hubspot

AI-Powered Productivity: Transform Your Day

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Tap into its power to automate tasks, elevate decision-making processes, and gain a competitive edge in your industry. Step into the league of accomplished entrepreneurs who are harnessing AI to drive growth and foster innovation in their ventures.

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CASE STUDY

💻 From $0 to $25M in a Basement

David Park was the ultimate underdog. Not long ago, he was working from his parent’s house, day and night, and had no money.

That all changed in 2020, when David and his co-founder Henry were experimenting with GPT-2. "We realized that people wanted to have a friendly AI-assisted writing journey,” David explains.

They started with a minimal product. Just LLM-powered auto-complete while typing. "You write, Jenni completes" was their early slogan.

AI Autocomplete, explained by Jenni

As the AI landscape evolved, so did Jenni.ai. They adapted their pricing model when API costs dropped, integrated chat features as LLMs advanced, and added document uploading capabilities as context windows expanded.

By staying at the forefront of AI developments, Jenni.ai was able to continuously provide cutting-edge value to its users.

The journey was not without challenges, as David persevered through years of failure and even a cancer diagnosis. "I really only got any semblance of success in the last 18 months so it's 9 years… almost a decade of just gut punches," he shares. But his conviction in the potential of AI never wavered.

After decades of effort, David’s belief paid off when Jenni.ai's valuation skyrocketed from $3 million to an estimated $10-30 million in just 6 months.

🔑 Key Takeaways for Your Business

1. Timing matters – Jenni was the right product at the right time. And you can only do that if you’re up-to-date. Being subscribed to us is a great start 😉

2. Experiment, experiment, experiment – David was always on top of the newest tools, and trying out GPT-2 is what eventually sparked the idea for his startup with 2.5 million users.

3. Always be adapting – AI moves at lightning speed. If your products don’t keep up, your customers will leave for the latest and greatest.

➡️ Read the full case study here.

1) Learn Anything Faster 🧠

For entrepreneurs, the ability to learn quickly and efficiently is more important than ever.

Bill Gates predicts that within the next decade, nearly everyone will have access to a personalized AI tutor that can deliver lessons tailored to their individual learning style.

However, with these techniques, you don't have to wait 10 years to start leveraging the power of AI to accelerate your learning.

Here are some practical ways you can use AI to learn anything faster:

Instantly summarize massive amounts of information 📚

One of AI's most powerful capabilities is its ability to condense vast amounts of information into concise summaries in mere seconds.

Using BookAI.chat, you can chat with full books.

Here are some questions to try with BookAI:

And with Consensus, you can quickly grasp the academic literature about your industry within minutes.

Referencing published, reputable studies can greatly boost the persuasiveness of your marketing messaging.

Here are some questions to try with Consensus:

Tools like these can save you days of reading, help bulldoze obstacles, and build your confidence in your strategies.

Use AI to create study aids and practice tests 📝 

Entrepreneurship often requires gaining brand-new skills on tight timelines and developing familiarity with foreign topics overnight.

In these situations, AI can be an invaluable study buddy by helping you create flashcards, quizzes, and practice exams based on the material you're learning.

Tools like Revisely helps you create a quiz on any topic in just seconds.

By testing your knowledge and identifying areas where you need improvement, you can focus your studying efforts and retain information more effectively.

Additional Tutorials

• AI Unleashed shows how to use Perplexity for Market Research.

⚡ AI can accelerate learning by summarizing information and providing insights to overcome business challenges.

2) Make AI Your Personal Consultant 💼

A typical consulting fee is anywhere upwards of $100 / hour. What if you could reduce that to close to $0? Well, you can. If you use AI. 

💡 If you want to explore using AI as a consultant, you need Claude Pro.

The new Claude 3 Opus model beats GPT-4 in intelligence. It also has a massive context window and lets you upload documents, PDFs, and images to give context about your business.

AI can analyze data, make predictions based on previous patterns, and recommend strategies to tackle business problems — all tasks commonly completed by (overpaid) consultants.

Claude Pro costs $20/month, but you can get started with a free account.

Example: Picking the best CRM to use

This is a prompt you could use if you want consulting on what CRM to use for your business.

Notice, with slight modifications you could reuse that same prompt for selecting any tool such as the best Project Management Software, Website Hosting Platform, or Payroll Solution.

For best results, more information is better. Make sure to give the AI enough context about your situation, to be hyper-clear in your ask, and to be thorough in your prompting.

Claude AI also makes an incredible technical consultant 🤓

Let’s say you need to learn to use a new software for some aspect of your business.

Whether it’s an unfamiliar email marketing tool, graphic design app, accounting software, domain registrar, or even a common tool like Excel, models like Claude and GPT-4 are remarkably proficient at providing step-by-step tutorials for both troubleshooting and best practices.

Consider these hypothetical examples.

Using an email marketing tool for the first time?

Try questions like these:

Having trouble in Excel or Google Sheets?

Try questions like these:

Received a confusing email from your domain registrar?

Try a prompt like this:

⚡AI can provide expert advice on various business topics and technical support for software tools.

3) Use AI Assisted Automations 🐎

A study by MIT shows that the use of AI can increase a skilled worker’s productivity by a whopping 40%. How? Automation.

Unilever cut the time customer support agents spent writing customer responses by 90% using a custom AI tool. With tools like SiteGPT, you can do the same.

💡 If you want to start automating your business using AI, the mix of Zapier and GPT-4 is incredibly powerful. 

Zapier lets you automatically retrieve data from all your applications, run it through an AI prompt, and then send the results back out to any destination.

It’s free to get started with Zapier. You can create an account here.

Before you get started, it’s important to know that a Zap (Zapier automation) consists of two main elements:

Trigger: This sets off the automation. Example: Receiving an email.

Action: This is what happens in response to the trigger (can be multiple actions). Example: GPT-4 drafts a reply to all new emails.

Setting up your first Zap is surprisingly easy. Zapier wrote a step-by-step beginner’s guide to help you get started, and we provide a few examples below.

Sample Automations from Zapier’s Community

Here are some sample automations to try:

How to instantly draft a reply to new Customer Support emails

These are the 5 steps in Zapier and Gmail:

1. Inside of Gmail, create a label called “Customer Support”

2. Trigger: Anytime this label is applied to an email in Gmail

3. Action: Open a conversation in ChatGPT

4. Action: Format data in Zapier’s Formatter

5. Action: Create a draft in Gmail

You can use this template link to copy this automation.

How to instantly send new Facebook Lead Ads to Google Sheets.

These are the 2 steps to set it up in Zapier:

1. Trigger: Anytime a new lead comes in on Facebook

2. Action: Create new spreadsheet row in Google Sheets

For more guidance, use this detailed tutorial.

The possibilities with Zapier are endless.

Even if you’ve never automated anything before, with AI as your free consultant, we are confident you can be up and running within a few hours.

If you need some help getting started, Zapier has tons of templates and tutorials ready for you to implement.

If you need more specifically with how to combine AI and Zapier, their team wrote this article to get you started.

⚡ Zapier and GPT-4 can automate tasks, boosting productivity by up to 40%.

🎧️ Podcasts & Talks

• This $3B Founder Is the Next Elon Musk — Figure’s CEO, Brett Adcock, came on My First Million to talk about how big the impact of humanoid’s will be in just 5 years.

• Sam Altman: OpenAI, GPT-5, Sora, Board Saga, Elon Musk, Ilya, Power & AGI — In Sam’s return to the Lex Fridman Podcast, he discusses how close OpenAI is to AGI, and how they plan to manage it.

• AI SAFETY PANEL: Elon Musk, Max Tegmark, Greg Brockman, Benjamin Netanyahu — Some of the biggest players in AI, including Open AI president Greg Brockman, discuss how to handle AI safety.

📖 Books

• ‘The Algorithm,’ by Hilke Schellmann — In this book, Emmy-award winning journalist Hilke Schellman talks about how AI has already taken over the workplace.

• ‘Competing in the Age of AI,’ by Marco Iansati & Karim R. Lakhani — How to be strategic in a world dominated by AI? It’s the question of the century. This books answers it.

• ‘Generative AI: the Insights You Need From Harvard Business Review — Understand what the future will look like through this compilation of all of HBR’s works.

📲 Influencers

• Dr. Fei-Fei Li — Dr. Li is the co-director of Stanford’s human-centered AI institute and co-founder of AI4ALL. On her Twitter page, she talks about the human impact of AI.

📃 Articles

• “How Soon is Now? Predicting the Arrival Date of AGI” — This paper by the University of Oxford uses economic modeling techniques to predict the expected arrival date of AGI.

• “10 Easy Ways to Start Using AI in Your Business” — LinkedIn Top Voice, Scott Jones, outlines simple ways to optimize your business using AI.

📹️ YouTube Tutorials

• “Top 19 Zapier ChatGPT Automations” — In this video, AI Andy explains simple AI automations that you can setup today.

• “How to Use ChatGPT to Easily Learn Any Skill You Want” — Acquiring new skills is one of the most valuable ways to spend your time. In this video, Bri Does AI explains how to learn more in less time.