Entrepreneur and AI enthusiast Shaan Puri shares 10 intriguing AI business ideas, including therapy for everyone, robots that automate warehousing, licensable deepfakes, and AI tutors. They also discuss the impact of AI in call centers and the ethical considerations of AI-generated pornography. Finally, they explore the concept of a self-doing to-do list powered by AI technology.
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Quick takeaways
Utilizing AI in customer service to reduce waiting times and provide better customer service.
Creating an AI therapist to make therapy more accessible and affordable for a larger number of individuals.
Exploring the potential of robots to automate warehousing processes and improve efficiency in logistics.
Deep dives
AI business ideas
The podcast episode discusses 10 specific AI business ideas to provide practical and specific examples. The speaker believes that there is a lack of detailed information on AI business opportunities and aims to offer tangible ideas. The speaker's credibility is established through their background as an entrepreneur, involvement in funding AI companies, and insights into the activities of top entrepreneurs in Silicon Valley. The ideas presented range from utilizing AI in customer service to creating AI therapy services, automating warehousing with robots, and developing AI-powered tutoring platforms.
Eliminating waiting with AI technology
One of the AI business ideas mentioned is the elimination of waiting in various contexts. The speaker discusses a company called Shepherd that finds overseas employees at a lower cost, but loses potential customers due to the waiting time for booking calls. The speaker mentions an AI phone agent service called Same Day that can reply to calls immediately, reducing waiting time. This solution is seen as a way to increase conversion rates and provide better customer service by addressing customer inquiries and scheduling in a faster and more efficient manner.
Increased accessibility to therapy through AI
The podcast highlights the potential of AI in making therapy more accessible. The speaker acknowledges the increasing acceptance of therapy and the current limitation of cost and privacy concerns. They propose an AI therapist in everyone's pocket, trained on vast amounts of therapy data, to provide support, guidance, and personalized therapy sessions. The goal is to make therapy affordable and available to a larger number of individuals, ensuring they receive emotional support and tailored advice. By leveraging AI, this idea aims to bring therapy to the masses and overcome traditional barriers to access.
Robots for automating warehousing
The speaker identifies the opportunity for using robots to automate warehousing processes. They discuss Amazon's investment in Kiva Systems for warehouse automation and highlight the potential for developing similar technologies. The speaker emphasizes that only 2% of warehouses currently use robotics, indicating a significant opportunity for growth. Automating warehouse operations through robots could lead to increased efficiency, reduced costs, and improved logistics. The speaker believes that companies focusing on warehouse automation could experience substantial success and that achieving widespread adoption of this technology will be transformative.
AI consulting for businesses
The podcast suggests that AI consulting could be a lucrative opportunity, particularly for established consulting firms. The speaker proposes that AI-specific consulting practices could help businesses identify AI market fits and implement AI tools or processes. They suggest combining conferences, content, and consulting services to provide valuable insights and guidance for companies seeking to incorporate AI into their operations. This approach could enable traditional consulting firms to adapt to the AI wave and offer specialized services to clients, ultimately creating opportunities for large-scale acquisitions and partnerships in the AI consulting space.
Episode 506: Shaan Puri (https://twitter.com/ShaanVP) is coming at you with 10 AI-specific business ideas that he would invest in tomorrow if they existed.
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Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.