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Will AI Jeopardize the Future of Your Business?
I've been using AI tools in my business on a daily basis since the Winter of 2022. Since that time, the impact it has had on my own business has been 100% positive. Tasks that used to take the better part of an hour were now being completed in 10-15 minutes. In fact, tasks that I might have outsourced even a year ago can now be done in-house without giving it a second thought.
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Is it an exaggeration to say that one person can conceivably do the work of three on any given day? I don't think it's an exaggeration at all. Once you familiarize yourself with the tools, it's amazing what you can accomplish on an individual level. Those are the pros, so what about the cons?
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Job Losses
We’re seeing a lot of disruption already playing out in the business world with AI having an impact much faster than originally anticipated. The speed at which this shift has taken place has caught many by surprise. Back in November of 2022, some experts were talking about the initial AI implementation being rolled out over a 12-18 month period. That entire process has played out to the point where thousands of jobs have already been lost through the first six months of 2023.
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The ease of use and cost-effectiveness of AI has prompted executives to opt for automated solutions, even though the quality of output may not always match human standards. As one executive put it, “It’s good enough to implement it immediately. There’s no need to wait for the next round of improvements.”
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Personally, I can easily see a whole lot of jobs disappearing over the next 12-24 months worldwide. The question is, will there be ongoing publicity over this? Or, will it happen quietly with little to no fanfare?
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Back to the Foundational Principles of Business 101
People pay us for the value we bring to the marketplace. AI isn't going to change that. What changes is the value that's placed on a product or a service? The question is, can AI replace the specific value you bring to the table through your business? Do you see it as an asset or a threat?
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In the world of advertising and marketing, it's both. It's a threat because we no longer need as many people to get the job done. It's an asset because those who remain can increase their efficiency tenfold.
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Eventually, it will become the new normal. A job that used to take an hour gets reduced to ten minutes with the help of AI. That leaves fifty minutes to do what? Relax? Hardly. The productivity mindset will demand additional jobs be slotted into whatever time remains. In other words, businesses will eventually default back to increasing production, not reducing workload or time.
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Should You Still Be Building a Personal Brand?
If you've been reading this newsletter or listening to my podcast for a while (www.jimgaliano.com/podcast) you may be wondering, "What about building a personal brand? Does AI change anything?"
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I believe building your personal brand is more important than ever. Why? Because of the "human touch" connection that occurs when people follow people online. It may be the last place where people feel connected without having to leave their homes. Your ability to provide that to your listeners, readers, or viewers will give you a significant advantage over your competitors.
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In that respect, you can go on to become a spokesperson or leader in whatever market you're in. If you give people something they're not getting elsewhere, they'll come back for more. I’ve seen quite a few bloggers and video creators who more or less share their life and business journeys with their audience and they make a full-time living between advertisements and some of the products they sell.
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That’s the human touch element I’m talking about.
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Is the Future of Your Business in Jeopardy?
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Let me start wrapping things up by getting back to the question, "Is the future of your business in jeopardy?" I honestly feel much better about the future as a business owner than I would as an employee. From the cockpit, we have access to information and data we wouldn't otherwise have access to. We're not flying blind, so to speak.
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I recommend familiarizing yourself with AI today and start utilizing it on a regular basis if at all possible. Start combining its capabilities with your existing skillset and experience. Learn from firsthand experience how it can improve your existing business. You can improve what you're doing in the short term and some of those improvements could be more significant than you think.
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Is Blogging Still Relevant in 2023?
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Yes, blogging is still relevant in 2023. According to multiple sources, blogging continues to be an effective marketing channel for lead generation, brand awareness, and SEO. While social media platforms like TikTok, Facebook, and Instagram have made it easier to share short-form content, long-form written content is still valuable for educating and engaging audiences.
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In fact, the demand for high-quality content is growing, with more and more people turning to blog posts for reliable information and advice. While the platform has evolved over the years, blogging remains a popular way to share information and connect with audiences. So yes, blogging is still a relevant and profitable strategy for businesses and individuals alike.
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How can businesses adapt their blogging strategy to stay relevant in 2023
To stay relevant in 2023, businesses can adapt their blogging strategy by following these tips:
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- Choose at least one other platform to promote your blog, such as social media, email marketing, or guest posting.
- Create long-form written content that educates and engages your audience.
- Align your content strategy with your business goals and target audience.
- Use a mix of evergreen and seasonal content to keep your blog fresh and interesting.
- Follow best practices for on-page SEO, including keyword research, topic clusters, and internal linking.
- Publish new content frequently to keep your blog active and attract more visitors.
- Build trust and loyalty with your audience by being transparent and competitive.
Is blogging worth the time and effort? I think it depends on where things are business-wise for you. If the products and services are already selling, then you can go all in on a marketing plan to sell even more. If product sales are waning, then you're putting a lot of effort into selling something that (unfortunately) isn't generating a lot of interest anymore.
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In that case, it makes more sense to find or create something that sells better and then go all in on the marketing once again. Whether that be blogging, podcasting, video creation, etc.
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Okay, I think that's a wrap for this issue. I hope you enjoyed it. If so, please share it with a friend, social media, etc. - https://www.jimsnewsletter.com.
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Thanks for reading and I'll see you next month!
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