ESYB2 008 - Impact of AI on Businesses
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[00:00:00] In this video, I want to talk about the impact of artificial intelligence on your business, my business, and the entrepreneurship landscape moving forward because I understand some people love AI, but some people are very apprehensive of AI. They wish it didn't exist, really. Whichever camp you're in, what we have to do in this course is acknowledge that at the moment, AI is happening.

At the moment, The presence and use of AI is growing, and at the moment, there is dramatic, undeniable change that many, many, many industries are undergoing because of AI. And why we have to discuss it here is, if you asked me five years ago, ten years ago, what business should I get into? The entrepreneurship ecosystem was a lot more stable, which means less risk.

Now, so many industries. [00:01:00] are either getting dramatically impacted or obliterated or just very, just, just undergoing tremendous change and uncertainty that now, when I've had these conversations with entrepreneurs outside of this course, people have asked me, Hey, what business should I get into? I feel like, I don't know, because if I answer, my answer should include the now.

But I should also think about, well, will this be a good industry to be in in five years, ten years? I want to think for that person who's asking me, long term, because ideally they will succeed and be in this industry for a long time. And today, there is uncertainty. Because so many industries are just undergoing change.

I don't know, very few people, if any, know, the ultimate impact and whether AI will plateau at some point, or whether it will keep growing. Unknown. You can make predictions all, all you want, but there's predictions. So now it's really hard [00:02:00] to predict or suggest to people what business should get into.

Similarly, people ask me, Hey, is this a good business idea or not? I also, you know, don't know because every industry is so impacted. So what I wanted to do in this video is not to tell you, Hey, AI is good or AI is bad, but for us collectively as a community. To discuss which industry is undergoing the most change and which industry is safe from AI.

I'll give you some examples of just things that I'm observing because this is also something that I think about because I think about, I have to think about, well, what if the e learning industry changes, which it's undergoing change. It's very impacted by AI. I have to adjust myself. And my clients and students ask me this too and I have to think about it for them.

So I have to think of, I've been thinking about this a lot. So some examples, you [00:03:00] know, obviously if you're a designer like image design, many people are just going to AI and bypassing the designers. Design field isn't dead for humans today. We don't know the extent of how smart AI will get. And how, what's the percentage of the industry that will be impacted?

10%, 90%? We don't know where it's going to go because now AI is not perfect. But in six months ago, in six months in the future, it will be 20 times better. And in six months after that, it will be 20 times better. So we cannot rely on the fact that it's not good enough now because that field is going, the intelligence level of AI is growing exponentially.

So, a field like design. Very difficult to predict. So any, any creative field, which is sad for me because I feel like I'm a creative person. I'm a musician. I do music. I write actually [00:04:00] poetry and I've written books. I'm useless now in that regard, right? Because if not now, then in three years or two years, AI will be so much better at all of them than I am.

Then it's almost like, well, what's the point of me? I still want to be creative, but I don't know that I will be able to compete with AI. In any case, so anything creative, AI is going to kind of, but many services, writing services, design services, like we've been talking about, a lot of manual work, AIs might impact the service industry and the freelancing industry.

Of course, engineering. I can create you a program for something in like five minutes, whereas it would take a human maybe days or months, who knows. So the whole engineering and software engineering field is highly impacted in many other fields. And [00:05:00] my question with this gigantic preamble, before I get into it, my question for you is let's as a community in the Q&amp; A of this video openly.

Discuss what fields are safe that we can foresee, like, hey, AI, you're not going to touch this. Which would mean that at least we can play around in terms of business ideas. It's safe for the students of this class to at least live in those niches. Because if I told you, hey, get into e learning, I couldn't say that now because it's an industry that's changing rapidly.

I myself don't know what's going to be the future of my courses. If I told you get into design, if I told you get into marketing for somebody, that can be just done by AI in the future. If I told you start a customer support sort of call center, that's going to be AI. And it's not good or bad. I'm not making a comment on whether I want it or I don't want it.

I'm just looking at the [00:06:00] facts, kind of, and trying to be objective. And for us, I want to have an open brainstorm. Number one, which industries do you think are safe? From AI and not going to be impacted so you can feel comfortable continuing down there down the road With your business idea in there and which industries other than the ones I mentioned are getting impacted And I'll give you an example what I see not impacted is not so much an entrepreneurship But in terms of jobs the safest place to be at the moment.

It feels like is like a manager at some company because if you're a manager It's not some particular skill that AI can do like talking on the phone or writing or doing something creative. The managers don't necessarily exercise those skills, but it's kind of like, you know, they communicate a lot with other people and so it's very fluid and so you really need a human.

[00:07:00] But the people that the manager manages, those individual skill based jobs, some of them are. Getting impacted. But the managers that I know, their jobs are pretty safe, but I have a hard time saying that another job or business is completely safe. So that's the only one I can kind of think of. And of course manual labor at times, right?

You need to fix plumbing. You still need a person to come in with tools. You can say, in five years there's going to be a robot who will come and do this better than any plumber. But right now that doesn't seem to be happening. Or at least it will be an expensive robot, but we'll see, we'll, we'll see, you know, I can see a future where it's going to be a plumber robot, not a human, but maybe that's a little far down the line where it's still a little safe to be in that.

But in any case, let's have this debate or conversation in the Q and A. Hopefully the conversation is supportive, open, and we can all brainstorm together [00:08:00] and help each other.

