AI Helps Kick-Start New Business Concepts

The debate has been pretty intense on whether artificial intelligence will take away jobs, versus how many jobs it may create. But we have to look beyond AI’s impact on the traditional 9-to-5 employment box.

It’s already happening. Emerging businesses employing AI are offering services ranging from automating customer inquiries to providing product recommendation capabilities, and invoice cleaning services.in a YouTube production by technology influencer Liam Ottley. In one example, he cites a service startup “created an invoice-cleaning system that uses GPT to not only spellcheck but format and punctuate invoice descriptions” for service providers, such as plumbers or electricians.

“Instead of developers creating tools such as PowerBI dashboards, non-technical users can directly interact with data through conversation,” Walia says. “This streamlined approach eliminates both the time and cost associated with building a user interface.”, president and CTO of Momnt. “Because of the rapid acceleration of AI’s capabilities and applications to a range of business cases, new tools are coming into play almost every day, and with each tool comes new business opportunities.

Consider, for example, “a chief marketing officer of a clothing retailer who asks ChatGPT to develop an annual marketing plan, prompting it to generate a few innovative marketing campaigns,” Clayton says. “While the response might be impressive, both for its level of detail and that it might take 15 seconds versus days if not weeks for a team to generate something similar, it is still just one voice at the table.

Because of AI’s ability to process and analyze massive amounts of data, “business leaders can identify important business trends or financial analytics in real-time,” Lanehart adds.

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