AI Frenzy

John Felipe Branch, economicsentrepreneurship

At the end of 2022 the outstanding power of artificial intelligence was unleashed by a company after many years working on it. Mainly texted, just after a few months its new version is already available, accepting audio and image interaction.

We find ourselves in an intelligence explosion phase, with outstanding improvements in a reduced time frame. I am also using it, as a complement to my work on my new website.

However exciting this is, I want to share a few words for the entrepreneurs out there. We are working on long term projects with ambitious goals, exchanging money of today for higher amounts in the future. We however need inflows of capital to afford our operations and help towards achieving that main goal in our heads day after day. That forces us to seek promising faster returns.

The gold rush

This happened to me already in the blockchain frenzy of 2021. I took part in the gold rush. Building any kind of new venture in a new field, whatever side business takes much attention, building something meaningful probably requires a team (even just for the Real World paperwork) and at the very least 6 months for newcomers (those who were not exactly in AI previously and no AI product). If you are working on something promising try to stick to it, to your field, and keep slowly building it without distractions.

In a gold rush what you think the market needs will be commodities in 6 months from today. That means value at weight plus margin and not value by the quality or service provided itself, because there are several offerors and unlimited alternatives.

My past experience

We get distracted, we try to rush with the wave and lose 6 to 9 months from our main project. I remember how I lost a ton of time learning about NFT smart contracts and ETH tokens standards when my thing was more other kinds of tokens and even other blockchain. There is certainly a difference while one was about a property and commercialisation revolution the other is much more generic and applicable.

Short term I see AI as one of the greatest help available out there, and long term speaking is much more than this. In between apply it to your field and you will get a much higher return out of it.

This time I will stick to what I was doing and let others participate and win this race. Best of luck to you! Bring much value to the world!