Tracing AI's Impact on Business Expansion

Dear Explorer,

Greetings from sunny Bali! Much like the weather here currently, the world of business is both exhilarating and unpredictable. However, an unexpected arrival has entered the business arena, forever altering the landscape.

Artificial Intelligence.

This isn't just another tech trend; it's one of our generation's black swan events - unexpected, with profound implications. Let's journey together through AI's fascinating trajectory, from its humble beginnings to its role as a game-changing ally in business expansion.

The First Steps of AI in the Business World

In the early 2000s, AI was like Jodie, the intern at the ad agency I once worked at - ambitious, brimming with potential, but mostly ignored in the boardroom. However, just like Jodie, AI refused to be confined to the sidelines.

Btw - Jodie left after 4 years and started what would become a multimillion dollar shoe brand. Go Jodie.

The initial applications of AI were humble, primarily in data management and simple analytics. But as it evolved, its ability to analyse and learn from vast data sets transformed it from an ignored intern into something like a Jodie on steroids.

That’s a weird picture.

What I mean is, it became a sought-after business strategist.

The Unstoppable Ascend of AI

Now, in 2023, AI sits firmly at the strategic core of modern business. Tech giants such as Google and Amazon have demonstrated its capabilities, using AI to offer personalised product recommendations and optimise customer service. AI hasn't eliminated business challenges. Still, it has sharpened our tools to address them, creating opportunities where once there were obstacles.

Einstein, AI, and the Constant Evolution of Answers

Albert Einstein once administered the same exam to his physics students twice. His students, puzzled, asked, "Why are we taking the same test again?" Einstein, in his wise and quirky way, replied:

"The questions are the same, but the answers have changed."

Mic drop Einstein.

Such is the journey of AI in business. The fundamental questions remain the same: "How do we grow? How do we gain a competitive edge?" Yet, with AI, the answers are continually evolving.

Take Google's new initiative, for instance, which allows you to view your competitors' ads. While their Performance Max AI solution may be something of a black box, their new Ad Transparency Center gives you a glimpse into your rivals' strategies.

Go on, try it. https://adstransparency.google.com/

But not now, I have more good things to say.

Not knowing exactly how the AI works might be frustrating. However, seeing your competitors' moves opens new avenues for strategy, emphasising the importance of doing the basics beautifully.

The Current Landscape: AI as a Key Business Ally

AI isn't just an accessory to business operations; it's a trusted partner. From crafting personalised marketing campaigns to predicting sales trends, AI's influence on business is as sharp as Gordon Ramsay on a bad day.

But wielding AI's capabilities is not just about integrating it into your operations. It's about understanding and adapting to its potential. Just like a master chef knows every tool in their kitchen, as a business owner, you need to familiarise yourself with AI’s functionality.

Since I’ve already given you one tool your competitors are going to wish you didn’t have, I should probably also give you another one.

Here’s a prompt that you can give to ChatGPT to do an analysis on your competitors:

I want you to act like and analyst / auditor. I want you to perform an analysis of [your brand] with the following top 4 competitors; [Competitor 1], [Competitor 2], [Competitor 3], [Competitor 4]. I need you to assess the differences and similarities between [Competitor 1], [Competitor 2], [Competitor 3] and [Competitor 4]. I need you to focus on pricing, market positioning, branding and messaging. Research the relevant market and analyse each brand to identify key differences and similarities. Present all the information in a detailed report hat includes charts, graphs, and tables. Based on all the information let me know how [your brand] can improve and actionable steps we can take to make [your brand] be better than [Competitor 1], [Competitor 2], [Competitor 3], [Competitor 4].

Embrace AI: The Catalyst of Business Expansion

Without AI, imagining a robust strategy for business expansion is like contemplating a smartphone without a touchscreen - nearly impossible. Therefore, embrace AI, harness its capabilities, and let it guide your business into new territories of growth and success.

As a SME owner, you're not just the Head Chef; you are some days, the entire crew.

You decide the menu, do the prep, and cook the deliciousness. But with AI on board, you're never really going to be navigating solo, ever again.

Let that sink in for a second.

It's your reliable partner, guiding you towards business expansion with a precision and speed that is awe-inspiring.

And if you haven't begun your journey with AI, consider this your call to action: start integrating AI into your business operations today. Learn from the giants and remember:

Do the basics, beautifully.

AI is about enhancing human intelligence, not replacing it. Tweet this, share it, and prepare to cook up a whole lot of goodness. Let AI be not just an ally, but a partner in your enterprise’s journey.

So go ahead, share this newsletter with as many people as possible, and together, we can be the forerunners in this AI revolution.

You rock,

Justin Theng

P.S. Ready to level up your AI game? Start with our AI Readiness Scorecard quiz - a free tool designed to gauge your AI readiness and identify opportunities for improvement. Don't miss out on this chance to put your business in the spotlight! Get Your Scorecard