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This is what makes money in AI …

Mango Mail is an email hosting company that my brother and I run. We compete with some of the biggest providers out there, because we've identified a market gap that customers have been wanting to see get filled for years: a user-friendly service that doesn't break the bank. A lot of business owners get tired of having to choose between expensive, flagship services and frustratingly low quality alternatives.

Let me tell you what so many new entrepreneurs just don't get: revenue comes from fixing unmet needs, not from how fancy your tech is. Mango Mail isn't an AI startup, but the same principles apply here. To generate revenue in AI, you must identify market gaps. You've got to find those hidden frustrations. Take notes on everything you observe around you… your job, your daily routines, and even your breaks. What annoys you? What takes too long? What are things that you wished were easier to learn about?

One thing I see changing the game is AI-powered legal assistants. I've used them before, and they shake things up. The AI legal assistants analyze tons of legal documents and cases, giving the best advice that they can in a matter of seconds. A lot of times, we just have small doubts and concerns that a cost-effective AI assistant can handle. Just the thought of lawyer fees is a headache, especially for trivial things. AI legal assistants can handle it, and save you time and money in the process.

I want to hear your thoughts, though. Do you agree with my assessment? Do you use AI for your business? What ideas do you see as potential for AI startups?

on February 8, 2024
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