The term “artificial intelligence” came around the 1950s. Since then, it has bloomed into something that may or may not replace many people in many industries. In this episode, the CEO of Accelerant Agency, Jordan Wilson, delves into the power of generative AI brings into our daily lives. He also demonstrates how you can utilize ChatGPT correctly so you won’t have to deal with AI Lying. Jordan also shares seven tools that will definitely provide so much value in your life. We touch so many points to expand your understanding of generative AI. So, let’s open our doors into the future, and we won’t be left behind as many businesses advance into the modern world.
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Harnessing The Power Of Generative AI In Everyday Life With Jordan Wilson
We are here to have Jordan Wilson who’s dug in and is advising clients every day on how you can use AI in everyday life. Who is Jordan Wilson, you ask? He is the Founder and CEO of Accelerant Agency. It’s a boutique digital strategy company based in Chicago that scales startups and small businesses. Jordan created and included Everyday AI, a media company dedicated to helping everyday people like us understand and use generative AI through a daily livestream podcast and a free daily newsletter.
Everyday AI has quickly become one of the fastest-growing podcasts in the tech industry. I remember Jordan was telling me that there were 40,000 podcasts based in tech, but he is moving up that chain pretty quickly. Jordan, welcome to the show. We are very happy to have you here. We are very excited to hear more about AI because a lot of people are like, “What is AI? What does it do?” Some people are scared of it. Some people are excited about it. Before we dive into AI, let’s talk a little bit about you. What were you like as a little boy?
Thanks for having me. Jordan as a little boy, I’m not too much different now. I wouldn’t say. I will say this. I feel like I have always been a creator. I have always been an entrepreneur. My earliest childhood memories were setting up a lemonade stand with my friends while my friends would sit there and do what you would think a little kid would do at a lemonade stand. I didn’t know what this was called at the time, but I was running A/B tests. One day, I would put the sign on the east side of the street. The other day, I would put it on the other side, and I would write it down. I was young. I was 5, 6, or 7.
That is pretty young to be that analytical.
Yeah, but I would write down the different changes I made, and how much money we made at the end of the day. I feel like I have always been the same. I’m extremely analytical. I always had that entrepreneurship in me, even before I knew what it was.
I didn’t read about this in your bio, but I want you to tell the audience. You spent ten years at a non-profit for challenged kids and you created partnerships with Nike and Jordan. Tell us a little bit about that part of your life.
It was wild, if I’m being honest because when you go to work at a non-profit, you don’t expect that you will be spending the majority of your time running branding sessions for NBA players. It went quickly. Yes, we did work with at-risk youth, impacting thousands of at-risk youth a year from Chicago to Los Angeles and coast to coast with New York.
Nike and the Jordan brand became some of our biggest partners. They do great work in the community. A lot of people don’t always give them the credit or the recognition they deserve, but at all times, they are doing great things and under-resourced communities. We essentially became an activation agency for Nike and the Jordan brand. I’d say for several years out of those ten years, I was traveling the country helping run these large activations with Nike and Jordan brands. It was wild.
That’s great that you did that. I always think that the more you make, the more you should give away. One thing I did want to mention is that whoever asks questions, or comments, and I air it on the show, we will send you three chapters of my book, Exit Rich. I’m going to help Jordan write his book. Jordan needs a book. You have some fans over here. I’m so excited for the show. It’s going to be a great show while that’s interesting. I know you had your digital media company, which I believe you still have, but how did you get started in AI?
It came through that. I have a small business called Accelerant Agency, and we use a lot of software for our clients because to grow companies, you have to make use of the newest technology. It happened by chance. I started to see all these AI-powered tools in 2019 and 2020, and we started to use them pretty routinely probably starting in 2021. After that point, I always had this idea of starting almost something separate that I thought would be the future of the digital strategy space.To grow companies, you should make use of the newest technology. Click To Tweet
Funny enough, even before I started my company, I wrote my business plan. I said, “I don’t know what it is, but the digital marketing and the digital advertising space is going to change so much in the next five years.” Even in the original business plan, I wrote down that part of what Accelerant Agency should be doing is essentially saving up money so we could focus on whatever this big shift in the industry is.
I didn’t know what at the time, but it’s AI because it’s gotten to the point where it’s impacted our daily lives. Especially, for your audience if they are business owners and if they are looking to grow their business, or maybe sell their business, it’s hard not to pay attention to what AI can do now for your business.
How is artificial intelligence being integrated into the various aspects of business operations?
It depends on the business. As an example, the largest companies out there, your Fortune 100s may be starting to develop their own. If we think of the most popular AI tools, which is probably something like ChatGPT, your biggest companies are essentially creating their versions of that that all their employees can use.
At the very other end, the smallest of companies are probably the ones that are using it the most these generative AI tools because there’s less red tape and bureaucracy. The majority of companies in the middle are in this wait-and-see phase. They are saying, “How are we going to govern this? How are we going to set up restrictions and guidelines so that our employees can use this and we can grow our company but also that we can still be safe with our data? Also, we can still protect our proprietary information.” I do think you have a lot going on at each end of the spectrum right now.
I was looking at my Facebook newsfeed and all of a sudden, this company said, “How to create your avatar. How to look like a Barbie.” You can look like a Barbie, Superman, and all these different characters. It’s AI creating your avatar very inexpensively on an app that they have created. It’s very interesting. What are some of the specific industries or sectors that have shown significant advancements and benefits through the adoption of AI and technologies?
I also think it’s important to very shortly hit rewind because AI is not new. AI has been used in the business sector since the ’80s pretty routinely or technically, even before that. AI has technically “been around” since the ’50s, but it’s been used in many sectors since the ’80s. It’s like the business boom where the financial industry was one that was pretty prevalent in the ’80s. AI’s usage in these different sectors is not necessarily new, but where we are now is new with this more generative AI, which opens it up for almost anyone.
Before, the financial sector essentially had its own AI models that the industry had been using to help detect fraud. Investment companies have had their own AI systems for decades to help them best invest portfolios. The generative AI which is what most of us now are seeing like what you said on social media, is newer and that’s where you can take things like, “I can take text and make a Barbie avatar for my business or to create something that my small brand or a smaller company can use.” AI has been around for a long time but this generative AI wave is much newer.
We have signed an agreement and I’m moving forward with our own AI proprietary language and software model. We are digging in deep. We are creating something very unique for my specific industry. For the clients, we are going to create avatars and stuff which is going to be a lot more in-depth than the Barbie avatar because we are going to be asking questions and they go back and forth with clients. However, there are a lot of issues associated with AI too. Is it telling you the truth? Does it lie to you? How do you know? You have to always trust but verify. Talk a little bit about that piece.
Yes, AI lies constantly.
I have heard stories. Maybe you have it, but there have been lots of stories where attorneys have gone to court with different pleadings and things like that and they used AI to write it. The judge is like, “Get out of my courtroom.” Do you know these stories I’m talking about, right?
Yeah. There was an infamous lawyer who used AI to help prepare the case and submitted essentially some lies. They use ChatGPT. They weren’t using it the correct way. They submitted that to a court and it got thrown out. It cited fake cases.
That’s what most attorneys are.
That’s a good point. I’m sure it’s not the first time but that was the one that grabbed headlines. You have to use AI responsibly and you also have to know how to use it. It’s a little bit more of a learning curve.You have to use AI responsibly, and you also have to know how to use it. Click To Tweet
I don’t know if that’s one of the examples you are going to be working with us, but we want to figure out how to use it. What’s the right way? What’s wrong with you? If you want to jump and end it, you can. I don’t know if that’s part of your example.
Let’s do it because maybe this will be fun. We can give people a look at, “If you use AI correctly, here’s what it is capable of.” I’m going to go ahead. I will do my best to walk people through and give people a little example of what this is and what it can do.
We already have lots of questions that are waiting for you to answer.
I will explain what I’m doing here. I am using ChatGPT. I’m hitting enter on this prompt and I’m going to explain to you exactly what I’m doing. One of the biggest things that we talked about is using ChatGPT or AI the correct way. When we talk about AI lying, a lot of that comes from not using AI in the correct mode.
In this example, I’m in ChatGPT and I have different plugins enabled. Essentially, plugins give ChatGPT which is a large language model extremely flexible capabilities. The biggest thing why or how ChatGPT lies is it does not have access to the internet because it essentially cuts off in September 2021. With many people out there, business is ever-evolving. Things are happening all the time. If you are asking, ChatGPT for something, chances are, it’s updated or it’s changed since September 2021.
In this example, I’m giving ChatGPT access to a couple of different things via these plugins. I’m allowing it to read the internet in a PDF. I’m giving it access to a spreadsheet and also, another feature, which is to create a diagram. In this prompt that I typed out here, I said, “Please assume the role of a financial analyst at Nike.”
I have a nicer color-coded version of what happens and what you get when you run this exact prompt. When you give ChatGPT access to plugins, it can do a lot of amazing things. In this example that I was doing, my page refreshed on me. I was saying, “Assume the role of a financial analyst at Nike.” I give it access to read a PDF. This is an actual Nike filing because if you are a public company, you have to make a lot of these documents public.
I am asking ChatGPT to read this PDF, and then in the green there in this long prompt, I’m instructing it to look for certain information about revenue and to put it in a spreadsheet. I’m asking about fiscal operations for 2019 in this example because this is a 2019 financial report. Later in the prompt, I’m then asking it to create a visualization from all of this data. This is all in one prompt. It takes about 30 seconds to run and do all this.
What we go from, is we go from this 109-page financial filing, and then ChatGPT grabs all of this information. In this information, we checked it. It’s all accurate. It comes from different pages in that PDF. It’s not just, “It’s reading this graph and copying and pasting it.” It’s grabbing this different information from different pages in this 109-page PDF. It’s making us a table inside ChatGPT.
Who created the 109-page document?
That’s a financial filing of Nike that they have on their website. It’s a lot. In this example, if you are a financial analyst, if you are looking at a company. Maybe you want to buy them or maybe you want to acquire them or invest in them, there’s probably a lot of documents that you are going to have to read. This is a way that you can use ChatGPT plugins to make sure it doesn’t lie to you. You give it access to a PDF. It reads it. It’s then creating a sheet based on what you tell it to because I have a spreadsheet plug-in there. Also, it’s creating a diagram as well.
All in one prompt, all within ChatGPT, and all very factually accurate. That is one example of something that anyone can do if you use ChatGPT the correct way and how you can take a task that would normally take many hours. A lot of time to read through this document, grab all these stats, put them inside of a spreadsheet, and then chart certain rows or columns in there. It can be done now in a matter of seconds.
What do people do wrong in most cases?
Most people do not know how to use ChatGPT. They go in there. They find something on the internet. They copy and paste it and they hope it works. It’s a model. ChatGPT is a large language model. You have to be able to go back and forth, but most importantly you have to make sure that ChatGPT has access to the correct information. Even that right there and knowing what we talked about, there’s a cutoff.
If anything has happened in your industry, or if you are asking ChatGPT for something, if anything has changed since September 2021, which everything has, it is not going to be accurate. That’s how you get ChatGPT lying or making stuff up. Sometimes it will tell you, “As a large language model, I don’t know this. I don’t have access to this information,” but you know other models like Google Bard. There are all these different AI chatbots. Sometimes they will tell you, but sometimes they will just make things up.
Many business people, entrepreneurs, or employees think it’s easy and quick. I have my employees go, “I don’t have to write a prospectus anymore on any of our engagements. I can just go to ChatGPT.” However, the problem is that people do it thinking it’s easy. They don’t go back and inspect what they expect and that’s when they get in trouble like attorneys do. If you do it correctly, it isn’t as much of a time-saving as maybe you thought it would, but it still does save you time and writing documents from scratch, but you got to do a correctly. That’s the biggest issue of people saying, “This is so easy. This is a quick fix.”
I talk about that all the time. In the end, it can save you a lot of time. Don’t get me wrong, but a lot of people don’t want to put in that initial work to make sure they are doing it correctly or to make sure that ChatGPT has all of the access that they need. Sometimes, people want the fastest shortcut but it can end up saving you a lot of time in the long run, but you have to put in a little bit of leg work up front to make sure everything is correct.Sometimes, people want the fastest shortcut. Generative AI can save much time, but you should put in a bit of leg work up front to ensure everything is correct. Click To Tweet
You have to also be careful about putting your client’s name in there because ChatGPT can take off and run with that proprietary information. What are your thoughts on proprietary information?
Don’t put it in. Companies also need to be aware of a couple of things. If it’s on your website, so many companies don’t even know what they have on their website that’s already been scraped and crawled by all of these AI chatbots. They don’t know. A lot of companies upload all these PDFs and do not have their settings correct and all of that information is public. Don’t upload sensitive and confidential information. Don’t do it. If you don’t know what you are doing, don’t upload all of your company’s information if it’s not already public.
It would be great to get a list of the dos and don’ts from you and then we can we can connect that to your podcast when it comes out in addition to the live. We are going to get to some questions. Are there any accessible entry points or strategies for such businesses to store and integrate AI into the organization? We have already talked about some of that.
There’s a lot. I’m going to try to make this timely as well because so many companies run on Microsoft Windows. I’m excited about it. I’m on a Mac, but I might buy a Windows for this. I tell people, if you remember, ChatGPT was this big wave. It came out of nowhere and everyone has been talking about AI ever since. Windows will release Copilot. Many companies run their organizations on Microsoft Windows. Windows is releasing Copilot in their newest version of Windows. For ChatGPT or all these other AI software, you have to log on to a website and use it. Copilot will be built into the operating system of Windows.
I don’t think people understand how significant that is and how it is going to change how all businesses are run. Now all of a sudden, if your company uses the latest version of Windows and you enable Copilot, you can talk to your computer and you can say, “That email Michelle sent me, can you read me that spreadsheet, answer this question about it, and create a presentation?” It will do it just like that. You don’t have to enable anything. It’s got to fundamentally change how businesses operate. It’s going to be a pretty big deal.
When is that coming?
They haven’t given a date. They have already started to release the beta version in small batches. I don’t know. They haven’t said. All they said is, it’s coming and it’s rolling out.
Is that going to have bugs in it just like ChatGPT has where you have to trust or verify and do some of the legwork? It’s probably the same scenario I would imagine.
Any software from Microsoft to Apple to ChatGPT, there’s always going to be some bugs, but that’s why they are starting to release it in very small batches to enterprise clients first, so they can hopefully work out a lot of those bugs before they release it to the general public. It’s worth keeping an eye on especially if you are your company or if your organization uses Windows.
Do you foresee any legal ramifications for people who use AI-created content? We talked about some of the attorneys going to the court. What other legal ramifications do you see coming down the road?
This is the greatest of great areas if I’m being honest because no one fully knows how this is all going to be litigated. A big piece of news is it was reported that The New York Times will be opening a lawsuit against OpenAI. There’s not a lot of details and this is all hearsay, but that is the report.
Was it because AI is running books now? Is that why?
I believe it was because some of ChatGPT’s features were able to bypass paywalls. I believe this is all reported. I’m not the end-all, be-all, and say-all here but there’s going to be so much gray area with how this is litigated in the long run. It’s because your big publishing companies for so long had put out this information and then you have these large language models that said, “We are going to scrape this and use it as general knowledge.” It’s going to be a lot of legal battles that we are going to see in the coming years about companies like OpenAI with ChatGPT, Google Bard, and Microsoft Bing Chat. All of these large language models have collected all of this information and are giving it to end users.
There’s a lot that we are going to see and a lot that’s going to come down the road. You always say you don’t know what you don’t know. What advice would you give to business leaders who want to use AI in their strategies but don’t know where to start?
I will answer it like this. Don’t start with the tool you think is best for the job. I always tell people to start where they are spending the most time on manually repetitive tasks. Even in our newsletter, we gave everyone a breakdown. I said, “You can even use time trackers.” Install a time tracker on your computer, or your browser, and find out where you are spending the most time.Don't start with the tool you think is best for the job. Start where you spend the most time on manually repetitive tasks. Click To Tweet
You have to install time trackers because we all need help. Sometimes tracking where our time goes. All we have is time. It’s the most valuable possession we have.
That’s a great example. I have a daily podcast. What is producing a daily podcast is a very manual and time-consuming thing? It’s the show notes. We identified even with producing a daily podcast. What are those things that are most manually repetitive, and then we found the right tools that would address those?
I would recommend to anyone, that if you are trying to implement AI into your business, start figuring out where you are spending the most manual time. Start to categorize or put those things into different buckets and only then, find those most manually repetitive tasks and find the correct AI-powered tool that can help you in those areas.
It’s probably good for social media, content creation, and things of that nature to help expedite that process. How can businesses stay updated on the latest AI trends and technologies to remain competitive in a respective market?
It’s hard. Our team spends many hours every single day keeping up with everything so we can have informed discussions like this. You can subscribe to a bunch of newsletters, watch a bunch of YouTube videos, or read a bunch of news articles. It’s time-consuming. That’s why I started Everyday AI because I’m like, “I can do this for other people. I can keep up with all the news. I can bring on smart people and you can ask questions.” There’s no easy way. There’s no shortcut. You have to find the right resource that can help you keep up with it because to keep up with it all manually by yourself, it’s a tall task because things change so quickly.Find the right resource to help you keep up with AI because things change quickly. Click To Tweet
You need a good AI team and we are going to talk about how to look for this team and how to know who to hire because everybody wants to get into the AI industry. Everybody wants to program AI now. How can businesses ensure their employees are adequately trained and prepared to work with AI technologies?
It’s going to be a growing job market because all of a sudden employees are going to have access to all of these new tools and software and even coding languages that they didn’t need or didn’t have access to before. A lot of companies are starting to create new roles in the C-Suite like a Chief AI Officer. Companies have already been doing this for months.
Do you think a Chief Technology Officer or a CTO should also learn AI and combine those two roles?
It’s going to be so prominent that if the company already has a CTO, I wouldn’t try to couple AI onto that person’s plate because normally at larger companies, CTOs have their hands full. To try to expect them to also take on generative AI strategy and implementation can be an unrealistic expectation. I’d say that larger companies that have a full C-Suite, should be dedicating roles to Chief AI Officers, which so many large companies are already starting to do.
Are there a lot of people who qualify for that position right now or are we going to see a lot more individuals start training or getting the training that they need to become that AI officer?
Their jobs are in high demand. Netflix made a huge because they were trying to hire someone for a very important AI role and there are not a lot of people in. I believe they offered a salary of under $1 million. It was $900,000.
They couldn’t find anybody?
It’s not that they couldn’t find anyone. The supply and demand paradigm is not equal. There’s way more demand than there is supply for these high-level AI roles. A lot of times companies have to put out $900,000 for an AI product manager role. They have found someone but they knew to be competitive and I’m sure they knew it would create a little bit of a PR splash as well.
On colleges, tech schools, software schools, and development schools, are they teaching AI now?
There are plenty of people who have this experience in this background, but it’s not enough. There are people out there who have 10, 15, or 20 years of experience in AI, machine learning, deep learning, and some of these related fields, but there’s not enough. It will take time to catch up.
It’s an industry. For kids who are going to college, it should be on their radar because it’s a huge opportunity. After all, there are not many people doing it or many people trained in it to start getting into it. It’s a huge opportunity.
I could talk for hours about how different universities are responding differently to AI. As you said, the smart universities right now are creating programs. I did an Executive Education Program for AI at Kellogg. Kellogg is smart. They are putting it out there. You also have other universities that are like, “Students can’t use AI. We are not going to teach about it.” It’s strange because there does seem to be this choose-a-side mentality in higher education with AI. We have to be able to train this next workforce because companies are going to need more of these people.
We are going to have to train up because AI is also going to replace a lot of jobs and a lot of industries. One of the biggest things was researchers in the medical industry. Also, researchers in the legal industry, and paralegals. Now paralegals are saying, “You still need us. You can’t rely on AI.” Peter Diamandis who’s a good friend of Tony Robbins talked about this and has a conference. He has a huge conference and he’s been talking about this for decades now that AI is going to replace a lot of jobs. What are your thoughts on this?
It’s something I don’t talk about a lot. My actual take on it is it’s going to be a lot more impactful than I think people want to say because we want to have an optimistic view of what artificial intelligence can do for the US economy. If we are being honest, if we look at the last several months if you take away all companies that are in the AI-related industries. As an example, if you take away Meta. You take away Alphabet, Google’s owner. You take away NVIDIA and IBM.
If you take away the big companies that are investing in AI technology, the stock market is down. It’s been relatively healthy, even though it might not seem like it but the Nasdaq has grown. The DAO has grown and a lot of this is because of AI. There’s been plenty of studies that these AI-related companies are driving that growth. People think that it’s going to keep going. I don’t think so necessarily. It’s going to lead to a lot of job loss more than even a lot of analysts are talking about.
That’s why it’s important for people to get ahead and learn it now because that will future-proof your career or future-proof your business or give you at least a leg up. Once everyone figures out how to use generative AI if your company has already started to get its feet wet, it has started to figure some things out, you will at least be ahead once everyone else gets on board.People need to get ahead and learn to use generative AI now because it will future-proof their career or businesses. Click To Tweet
That’s what we are doing. We are trying to streamline the process and make things look a lot more efficient. We are having fewer employees, not because we want to, but as a company, in order to be efficient and profitable, you need to. This thing has been going on for decades even with or without AI. That’s what some of these machines are. You put in these two manufacturing plants and industrial companies.
We have an agricultural company for sale and it’s for a lot of money. It’s $2 million or $3 million because this machinery going to cut their workforce in half. It’s going to allow them to run and produce 24/7. It’s going to allow them to produce quadruple the amount of products they are producing right now or even more. There are going to be a lot of jobs that are being replaced. That’s why in my opinion, it’s valuable and important to talk about those other industries people should get into that support AI because otherwise, we are going to have a lot of people at the unemployment line. What are your thoughts?
You also have to look at what the biggest companies are doing with their task force and what they are doing with their money. As an example, the biggest companies in the world are investing their money into generative AI. They are investing, for example, in Microsoft. Microsoft is investing billions of dollars into AI not just their operations, but other companies.
It’s one of the biggest investors in OpenAI, but Microsoft at the same time has laid off over the past year tens of thousands of people. At least, they had one big layoff of 10,000 people. IBM is the same thing. The biggest companies in the world are investing billions of dollars into AI, yet at the same time, either slowly or not so slowly reducing their workforce. The average person or the savvy business owner out there has to look at the writing on the wall and understand that if you want to keep up, you want to keep your business thriving, or if you want to exit rich, you have to pay attention.The savvy business owner should understand that you should pay attention to AI for you to keep up, keep your business thriving, or exit rich. Click To Tweet
With even just the internet and social media, companies had a nice easy ten-year period where they could figure it out. With Facebook, maybe in a couple of years. The internet or a website is not for us. You could be fine, but the overwhelming majority of companies now, if they are successful, have paid attention to websites or social media. The same thing can be true for AI, except I don’t think you are going to get a decade. You are going to get 1 year or 2 years tops. You have to get with it and you have to understand. Otherwise, you are going to be on the wrong side of those layoffs.
You are going to get left behind and statistics have changed dramatically in business. It used to be that 90% to 95% of all startups will fail in the first 1 to 5 years. We all know that but now, out of 27 million businesses, only 30% of startups are failing, yet those business owners have been in business for 10 years or longer, 70% of them are going out of business and that’s because of lack of AIM. It’s Always Innovate and Market. You are in the marketing industry. It’s going to be Always Innovate Market in AI, otherwise, you are going to end up going out of business so this is huge. That’s why we had Jordan on the show and he is my first guest on AI.
Companies have to start looking at this very seriously and start adapting these language models into a corporation. Otherwise, you are going to be passed by and eventually go out of business. How do you see this affecting the economy and the job market going forward with all these employees being laid off? What are your thoughts there?
We still have to look at the other side of the coin because there will undoubtedly be a lot of job creation. There will be new sectors created that didn’t exist before in the same way the internet created a lot of new jobs. AI will also create a lot of new jobs. I will argue with anyone all day. In the end, it’s unfortunately going to be a net minus. In the end, we are going to lose far more jobs than we will create.
What this can lead to is the same way over the last few years, we have seen the rise of the gig economy. We have seen the rise of freelancers, startups, and entrepreneurs. It’s going to double down on that because when people when smart people get laid off, what do they do? A lot of them start their jobs or they start competitors.
If they lose a job, what they need to do is create a business.
Create a cashflowing business and that’s what we have to look at. We will end up losing far more jobs than we create but it is easier than ever now for people to start a business that is impactful and means something through the use of AI. It used to take many months or longer but now, you can create a pretty solid business that people will pay for in a weekend if you know how to use AI tools.
A lot of employers are going to become entrepreneurs unless the company gets up to speed and starts incorporating AI and training on AI. They can’t incorporate it without training. We are excited because we are starting now. We are before the crowd. There are a couple more questions here that we want to read. What do you envision as the next big development of AI for businesses and how should companies prepare for these changes?
I think about this sometimes late at night when I can’t sleep, but I will tell you this. I’d say the next big development for companies and this isn’t a cop-out answer. It is the widespread adoption of generative AI because I’d still say that a very few percentage of companies are using generative AI. Their employees are, whether they are telling the company or not. I see that the companies themselves and businesses are going to implement company-wide generative AI strategies.
You are going to see whether companies are using it. I keep saying Microsoft because I like what they are doing, but they are creating a business. They haven’t officially announced this, but it’s been reported, that they are creating an enterprise version of ChatGPT specifically aimed at enterprise companies.
That’s the next wave I see companies officially in the same way that when you start a new job, you get your laptop, Outlook, and employee handbook, you are going to get your generative AI basics whatever the companies are. I see the company’s next big phase is starting to integrate those tools similarly to how Copilot is going to work on people’s computers.
It’s like the self-driving cars. How can AI be employed to enhance security measures and protect sensitive data from evolving threats?
That’s why a lot of companies are creating their large language models because they are either not sure to the extent of how the other companies may be using data, or they don’t even want to risk it. They are like, “No. We’d rather invest millions of dollars creating our technology that we can own based off of other people.” It’s weird and I don’t want to get too technical but you can tap into some of these bigger companies’ technology through APIs.
You see a lot of companies creating their own as a workaround to not share data because here’s the thing. If you implement this company-wide, there are going to be people who are misusing it whether on purpose or accidentally. It is hard for a company to prepare for that because think of how many times employees can accidentally hit reply all on an email and they didn’t mean to or, “I put the wrong person on this email and now I accidentally sent them our KPIs or our quarterly report.” Think of that on a much larger scale. I get the hesitancy that big companies are going through, but they are going to start to figure it out.
It brings up a great question that I just thought of. Content creation is king. When you have independent contractors or interns using Fiverr or any of those companies, you want them to sign off that you own that content because there are lots of lawsuits in the courtroom over who owns the content. When it comes from ChatGPT or any of these AI sources, what happens there?
We talked about some of these copyright issues and how things are going to be tied up in the courts. There are not a lot of ways around that because all the biggest companies are getting sued. If we talk about AI image generation, that one’s especially sticky because early on, there are tools such as Midjourney there’s tools such as DALL·E from OpenAI, and Stable Diffusion. There are all these AI image generators where you can put in a text prompt and get an image out but they were trained on copyrighted works of art. Early on, you saw that it would even sometimes accidentally include an artist’s signature on something.
That’s the scary part because I always teach my clients to protect their content.
It’s hard, but there are other companies that I don’t talk about a lot such as Adobe. Adobe in their systems, they are saying, “We trained our image generation model on only works that they had access to.” They went to bat for companies and said, “You can use our products and feel good about the AI images because it’s all images that we have access to.” There still could be bugs or disputes, but you do have companies that are trying to be a little more closed-sourced with it if that makes sense.
We have a couple more questions. We are about to run out of time but this is such an interesting subject. What are some innovative ways that businesses are using AI to improve customer experiences?
An innovative way is to train custom chatbots on your data. As an example, if you order a product online and you might want to return it or there’s a problem, a lot of times you are either chatting with a bot and those bots have been around for ten-plus years or maybe you are chatting with a live human. Now, what a lot of companies are trying to do is try to find something in between because humans are expensive and those old-school bots are terrible and they don’t know anything.
Now, they are training these AI bots like a ChatGPT on all of their data. Let’s say you are a company like Zappos. That’s a smart and innovative way. As an example, Michelle could put up every single episode that she’s ever produced, every single video, and all of her books. She could have people say, “Hire Michelle as your consultant.” I know a lot of innovative companies that are working on that where they are essentially replicating a business leader, everything they have ever talked about, and allowing fans, customers, or whatever you want to call it to have access to that person as a coach or a mentor. A lot of companies are doing that. That’s super innovative.
What are some common misconceptions or myths that you have encountered and how can these be addressed?
Probably one of the most common is people saying, “ChatGPT can’t write as well as humans.” That’s false.
I see a lot of people right now writing books from ChatGPT.
Some are great and some are not so great. As an example, Harvey Castro. I know he wrote a book on ChatGPT and Healthcare. He uses ChatGPT to help produce his podcasts and to clone his voice. That’s one of the most common misconceptions I’d say is when people think that you can’t get very high-quality written output out of ChatGPT because you can. I have been getting paid for twenty-plus years to write for big companies and I can write about 95% to 99% of the quality me, a professional writer by trade, but at about 15 to 20 times faster.
I wonder how publishing companies like The New York Times, Wall Street Journal, and USA Today are going to react to that.
There are a lot of legal messes. There’s another story. An author, there was a new book being sold under her name and she said, “I didn’t write it right,” but someone else trained a model. It studied all of her previous books and somehow started the publishing process of a book that wasn’t hers. If you want job security, go into litigating AI copyright issues because it is going to be rampant over the next couple of years.
It already is, and it’s going to exponentially increase. You got a lot of fans on here. Brian says, “I agree with everything he says.” We have also got Sorin said, “It will no doubt replace jobs in some areas like customer service and marketing.” Time will tell. What do you see as the future of AI in the next few years?
I don’t even think my brain can comprehend. Maybe I will take an easier way. I will say 1 to 3 because, over the next years, companies are going to be playing catch up. They are going to be trying to figure this out. I see that over the next years. A big push to understand AI and how it can grow companies. After that, I’m putting on my crystal ball here or my wizard hat.
We are going to come back to you in a year and have you back on the show and see what came first.
Hopefully, I got a couple of things right. What’s going to happen is you are going to have a lot of acquisitions. There are going to be bigger companies that are making nine figures that are going to get acquired because, in a very competitive landscape where everyone is competing for consumer’s attention, it’s easier now because of generative AI to create very compelling and very personalized content for consumers.
In big industries, you are going to have literally companies that are doing 9 figures right now and in 2 to 3 years struggling to keep up and they are going to get acquired from the companies that are growing in that are already out and running with generative AI. If I have to put on my, you know, 2 to 3-year hat. We are going to look back now and be like, “Can you believe that blank company got left behind and they got acquired by blank? I never would have seen that coming.”
What about the cost? It used to be when you bought the first iPad, the first computer, the first this and that, the cost was exponentially high and it started to go down. What do you see with the cost associated with AI right now?
It’s criminally cheap.
You just want to create your language model from your data.
Even that is criminally cheap because we look at least 10 to 20 new AI tools a day and we usually share 2 to 3 of them in our newsletter. There are companies now where it’s $50 and you can upload all of your documents and get a smart chatbot and put it on your website. Those didn’t even exist a few months ago but now you have so many companies. It is so easy to start using generative AI and the costs are so low.
Some of these companies eventually are going to start to raise their prices on a lot of these things, because it’s all about, “You have to get the customers.” You have to get them in the door, you have to have them paying, and you have to train your models. That’s the other thing. All these companies need as many users as possible because they are training and making their AI software services better based on your feedback and all of your data. It’s a race for data and feedback. All of these software are not going to be as affordable as they are now but it’s wild to me.
You want to hire a programmer and I’m sure there are some AI programmers out there to train your language model on your data. What is that running right now? I have heard anywhere from $200,000 up to millions.
To tell you the truth, it very much depends on how big the company is and how much data they have. A company like mine does not have a lot of data. I could do that in a weekend with easy tools and I don’t need a developer.
You can create an avatar and get into consistent questioning and feedback with your clients. That’s a little bit more involved.
If you want to do something completely bespoke, it’s more involved but I talked about one of these tools on my show called D-ID. They are worth a couple of billion dollars now, but you can create a custom avatar on there and train it on your data. They also have a D-ID chat that you can put on your website. A lot of it is, as a business owner, you have to make a decision. You are saying, “Are we ultimately going to trust this company and give them all of our data? Yes or no.”
Companies that say, “Yes,” and feel okay with that, there are cost savings to it. Companies that are like, “Either I don’t want to do that or I need more customization than this service provides,” then they are building their own, which a lot of times, can be much more costly. There are other services that are easy to use. You don’t have to be a developer. It’s drag and drop. Even if you are not very computer savvy, you can still figure it out but you are giving up “control” of your data.
Are there any other tools you want to name-drop? They can get this on your Everyday AI podcast.
The timing of this is serendipitous because I never talk about tools on my podcast and I just did for the first time in Episode 86. I talked about tools. I will give you the quickest rundown. The seven tools I mentioned on the Everyday AI live stream. D-ID was the first one. Also, Jasper is great for copywriting. It’s like a different version of ChatGPT.
We have Pictory. You can upload a script text and it will create a video with videos that match up and align with the text of your script. We also have WellSaid Labs, which is a great text-to-speech. You can enter your text and get a great voiceover. Michelle, I know you have a very popular book in theory. You could use a tool like this to narrate a chapter of your book with very human-like sounding voices.
I don’t have to pay a voiceover anymore.
A voiceover, no, and all of these tools I’m mentioning are paid plans. They might be $20 to $100 a month, but none of these are free. Someone else asked me. They are like, “Are you getting referral kickbacks for all this?” I’m not. These are all tools that I have used and I know that they are good. No one’s paying me to say this.
MeetGeek is another one. What MeetGeek does, and this is what we use. It can go on your Zoom calls, your Google Meets, and your Microsoft Teams. It sits there as a participant. It records and transcribes everything but the thing that I like is it gives you an AI summary. It says, “Michelle and Jordan talked about this. Here’s the action plan. You need to do A, B, and C. Here’s the overall tone. Here’s what went wrong. Here’s concerns.” MeetGeek is a great tool that can help you get on with your meetings because that’s so time-consuming.
These are the last two. Perplexity is an AI search. It’s something in between a ChatGPT and a traditional Google search. You can still have that conversation with a large language model but the difference is it will show you every single source that it used to give you the information. You can put in a simple question and it will say, “We looked at these fifteen different articles,” and it will show you them all. It’s great for citation and sourcing and if you want to dive deeper.
Last but not least was Beautiful.AI. You can think of ChatGPT for creating graphics and presentations. You can say, “I need this type of graph. Here’s the data.” It will build it for you very beautifully or like a full presentation. “I need a presentation on the history of artificial intelligence,” and it will create it for you. Those were some of the best tools that have pretty broad use cases for different audiences whether you are a business owner, a marketer, or in sales. One of those seven, you should be able to instantly start using and save time to grow your bottom line. That’s what it’s all about.
You dropped a lot of golden nuggets right there. You dropped a bomb on us.
I was saving them for the end making sure people stay and read the whole show.
Who else did you want to thank?
Everyone else like Arturo, Rim, Monica, and Dr. Harvey Castro.
We specialize in helping business owners build a sustainable, scalable, and sellable business when they are ready. Go ahead and get your copy of Exit Rich. For everybody here, we will get their three chapters of Exit Rich. We are incorporating AI. We tell all our clients they have to incorporate AI because if they don’t, they are not going to be sellable.
The business won’t be sustainable. It won’t be scalable and it certainly will not be sellable. You have been a great guest. One of my best and favorites. You dropped so many great tips on AI. You offered a lot of clarity and great resources. It’s impeccable. Thank you so much. How can our readers get in touch with you? Talk about your podcast.
Thank you for having me. People can find me or find us at YourEverydayAI.com. We go live every single weekday morning at 7:30 AM Central Standard Time. It’s great because I’m bringing on the president of DigitalMarketer who is very well-known, and people can ask him questions live. I bring on great guests every single weekday morning and we have discussions and we all learn AI together live. The podcast usually goes out about 20 minutes after we wrap up and then the free daily newsletter about 2 to 3 hours after the show is done.
How do we subscribe to the newsletter? Can we just go there?
It’s at YourEverydayAI.com. It’s going to be right there, right, front, and center on the homepage. Put in your email address and then you are going to be learning AI and understanding it in a much better way. You are not going to have to waste hours a day. We are going to do it for you. That’s what our team does. We cut through the mask, cut through the BS, and only give you the most important information that you need to learn and leverage AI.
I know this is like drinking through a fire hose so you have to go back and read this again and again. Any last-minute go-to nuggets that you want to drop.
I will end with some advice. The advice is don’t be overwhelmed by AI. It can be overwhelming. I get it. I feel that way sometimes too. The only way that you can make AI work for you is to be intentional about it and don’t get distracted by trying new things because that’s all that the information out there. A lot of it’s bad and essentially they say, “Here’s 50 tools. Here are 500 prompts. Try this.” Don’t do that. You will get distracted. Do what I said. Focus on where you spend the majority of your time growing your business. If you are trying to exit, sell your business, or whatever it may be.
Spend time figuring out where you are spending your time and only then should you start taking on AI tools or software one at a time. Only the ones that are going to help you be more efficient or have a better output in those areas where you are spending the most time. Do that. Don’t get overwhelmed. Start slow. Make sure you can measure the return.
That’s important as well because whether you are doing this yourself as a business owner or you are trying to push it up in your organization, you have to be able to show the return on investment or the return on time investment or time saved. Take it slow, start where you are spending too much manual time, and go from there. Listen to us because we help you every day.
Listen to Everyday AI, and if you are going to hire a programmer like I did, you want an AI developer. You want to make sure you do your due diligence. Jordan, you have been a great guest. We truly appreciate all of the information and all of the content. Great golden nuggets and resources. I love to have you back on. We will probably do it once a quarter because AI is going to change so rapidly and evolve. It’s important to do those quarterly updates. You can almost do monthly updates.
It’s a lot, but at least, we will know in a few years, if my bold predictions came true or not.
We will know. We will have you back on. Thanks again, Jordan. Thanks to everyone who asked questions and made comments. It’s truly a great show. Thank you to my readers or followers. Make sure you subscribe to the show. Make sure you go back and read this. More importantly, share this with your network, employees, or people in college. We need to get AI trained and get those universities up to speed. Share this with your sphere of influence and entrepreneurs. Let’s get the message out there and let everyone tune in not just to the show but also to Everyday AI. Thanks again. See you next time.
- Accelerant Agency
- Everyday AI
- Exit Rich
- Stable Diffusion
- ChatGPT and Healthcare
- Episode 86 – Past Episode on the Everyday AI podcast
- WellSaid Labs
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