Is AI overhyped? Or is it the next big leap in productivity and profits? In this episode, we explore real-world examples of how GenAI is transforming small and medium sized businesses. Our guest, Steve Moritz, 2x AI founder and longtime IT consultant, shares how to start using AI in your business, the risks to mitigate, and why leadership buy-in matters. Plus, we discuss what AI’s expected productivity boost means for your investment portfolio.

Steve Moritz: https://www.linkedin.com/in/stephenmoritz/

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Chapters

00:00 Intro to Steve Moritz - the perfect guest to join as 2x AI Founder and longtime IT implementation consultant

04:10 What is GenAI? - replicative and generative use of data to make decisions

04:48 Comparing GenAI to Past Tech Shifts - the ability to generate a decision is wholly unique

06:58 Why the Breakthrough Now? - compute capacity has led to an exponential increase in workflow efficiency

11:30 The Biggest Misconceptions of AI - it will not take over the world, but it will reduce clerical jobs

17:35 The 4 Ways Every Small Business Should be Using GenAI Today - to enhance productivity and impact

23:36 Are Employees or Employers Benefiting from Increased Productivity? - this is a key business opportunity

27:09 Prompt Engineering in Hiring- that helps future proof your business

32:08 AI is Like an Employee - humans in the loop processes help plan for, detect, and solve for wrong outputs over time

36:55 Shadow IT - the difference between leveraging off the shelf, internal, and hybrid tools

43:06 AI Privacy, Security, and Transparency - the evolution of the cloud means that it is often safer than employer secured networks

46:59 Data Risk is a Top Concern - garbage in, is garbage out

52:12 Vertical and Horizontal Integration - how AI is changing the job market

59:40 Is AI Overhyped? - it augments your business but doesn’t change it

1:03:14 Small Business Benefits - by leadership endorsing sanctioned uses and finding workflows where data is in motion

1:08:03 How Does AI Affect Investing in the Stock Market? – if the promise is a productivity boost across most industries, AI should be a rising tide that lifts all boats

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