State of the art AI: How to use AI to start your business

by Olesia Zinchenko on NOV 21, 2022

Starting your own business is not an easy feat. But with the right tools and resources, it can be a rewarding experience. And with the help of artificial intelligence (AI), you can give your startup a leg up on the competition.

As you have read in our previous article, AI tech is a fastest-growing industry on Earth. If you want to read more, get familiar with the newest report regarding how the AI industry blooms. We invite you to join our AI Hackathons, where you can meet like-minded people from all around the world and create a prototype of a tool which will revolutionize any industry.

But if you’re not into AI Hackathon yet, here are essential tips to get started:

Use AI to discover new business opportunities!

There is a lot of data out there just waiting to be analyzed. And with the help of AI, you can sift through this data to find new business opportunities. One way to do this is to use a tool like Google Trends. This tool lets you see how popular specific keywords are. You can use this information to determine which products or services are in demand.

Another way to find new business opportunities is to set up Google Alerts. This tool will send you an email whenever a recent article that contains the keywords you're interested in is published. This is a great way to stay on top of trends in your industry.

Or if you don't know why Stable Diffusion, Cohere AI or Whisper AI are the new “in”, you can also use exploding topics to see for yourself!

Find an environment that will support you.

Once you've identified a few potential business opportunities, it's time to start finding your knowledge base and the right environment of people that will be ready to help you on your way.

When it comes to AI, here you have a brilliant opportunity to be one of the pioneers. Today you can become part of the AI ​​community together with real professionals, leaders of global companies, startups, developers - these people will lead the market in a few years. Certainly, this support will be very important for you, especially at the start. AI Hackathon might be the best place where you can learn most in the least amount of time with help of mentors, support of team members and all additional panels and talks to help you grow.

first AI art competition

Why should I participate in an AI Hackathon?

A hackathon is a great way to test your ideas for implementation, applicability and, what is important, to get valuable feedback from mentors and judges. This is an event where you'll work with a team of people with different backgrounds and skill sets, but with a very common mission. So it's also a great way to meet potential co-founders. For example in our Cohere Thanksgiving AI Transformers Hackathon winners had an opportunity to grab an online coffee with the founders of Cohere!

Join AI Hackathons and start working on your ideas, and next weekend you may already have your working prototype to test or show to potential investors. Yes, that’s impressive, we know. That's why we’re doing it and inviting you into this journey.

Starting your own business is a big challenge, but it's also a rewarding experience. And with the help of AI, you can give your startup a leg up on the competition.

Join the AI community of builders and entrepreneurs to create the future of tech with AI!

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Olesia Zinchenko

Marketing member at LabLab.ai team

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