AI, ChatGPT, OpenAI - 5 Things SaaS Founders MUST Know...

AI is in the news everywhere every day AI is in the news everywhere every day we're hearing about chat GPT open AI all we're hearing about chat GPT open AI all we're hearing about chat GPT open AI all these innovations that maybe they take these innovations that maybe they take these innovations that maybe they take everyone's jobs maybe they will put you everyone's jobs maybe they will put you everyone's jobs maybe they will put you out of business or maybe it'll make you out of business or maybe it'll make you out of business or maybe it'll make you work so much faster that you can grow a work so much faster that you can grow a work so much faster that you can grow a company a lot easier I think there's a company a lot easier I think there's a company a lot easier I think there's a lot of myths and misconceptions around lot of myths and misconceptions around lot of myths and misconceptions around AI right now so that's why in this video AI right now so that's why in this video AI right now so that's why in this video I'm going to talk through five things I I'm going to talk through five things I I'm going to talk through five things I think every SAS founder should know think every SAS founder should know think every SAS founder should know about artificial intelligence I'm Rob about artificial intelligence I'm Rob about artificial intelligence I'm Rob Walling I'm a Serial entrepreneur with Walling I'm a Serial entrepreneur with Walling I'm a Serial entrepreneur with multiple exits I've written four books multiple exits I've written four books multiple exits I've written four books on building startups and I've invested on building startups and I've invested on building startups and I've invested in almost 150 companies the first thing in almost 150 companies the first thing in almost 150 companies the first thing I want you to think about with regards I want you to think about with regards I want you to think about with regards to AI is how it might be applied within to AI is how it might be applied within to AI is how it might be applied within your SAS application as a feature or a your SAS application as a feature or a your SAS application as a feature or a way to level up your customers and make way to level up your customers and make way to level up your customers and make them more productive and in order to do them more productive and in order to do them more productive and in order to do that I've come up with a framework of that I've come up with a framework of that I've come up with a framework of sorts maybe a taxonomy you might call it sorts maybe a taxonomy you might call it sorts maybe a taxonomy you might call it of things that AI does well and I of things that AI does well and I of things that AI does well and I actually ask chat gbt and Google trying actually ask chat gbt and Google trying actually ask chat gbt and Google trying to figure out if there is is an existing to figure out if there is is an existing to figure out if there is is an existing taxonomy or classification of these taxonomy or classification of these taxonomy or classification of these components that AI does really well and components that AI does really well and components that AI does really well and I couldn't find one so I came up with my I couldn't find one so I came up with my I couldn't find one so I came up with my own and there are four components to it own and there are four components to it own and there are four components to it four things that I think AI does well four things that I think AI does well four things that I think AI does well and with each of these you'll be wanting and with each of these you'll be wanting and with each of these you'll be wanting to ask yourself does my SAS app do that to ask yourself does my SAS app do that to ask yourself does my SAS app do that or need to do that and can I use AI to or need to do that and can I use AI to or need to do that and can I use AI to do it so the first is generative AI so do it so the first is generative AI so do it so the first is generative AI so this includes AI that generates text this includes AI that generates text this includes AI that generates text from nothing it generates images from from nothing it generates images from from nothing it generates images from its Corpus it can take a blog post and its Corpus it can take a blog post and its Corpus it can take a blog post and turn it into a YouTube outline it's turn it into a YouTube outline it's turn it into a YouTube outline it's taking nothing and you know it's a taking nothing and you know it's a taking nothing and you know it's a language learning model so obviously

language learning model so obviously language learning model so obviously there's something underneath but it's there's something underneath but it's there's something underneath but it's you giving it a prompt and it producing you giving it a prompt and it producing you giving it a prompt and it producing a result so if you have a social media a result so if you have a social media a result so if you have a social media posting tool or you have a tool that posting tool or you have a tool that posting tool or you have a tool that helps people place Google AdWords or helps people place Google AdWords or helps people place Google AdWords or Facebook ads you know that they need to Facebook ads you know that they need to Facebook ads you know that they need to come up with text for the headline and come up with text for the headline and come up with text for the headline and text for the body of the ad and maybe an text for the body of the ad and maybe an text for the body of the ad and maybe an image for if it's a Facebook or an image for if it's a Facebook or an image for if it's a Facebook or an Instagram ad so generative AI could be Instagram ad so generative AI could be Instagram ad so generative AI could be used in one of those cases the second used in one of those cases the second used in one of those cases the second category of AI is categorization if you category of AI is categorization if you category of AI is categorization if you gave chat GP t a list of a thousand gave chat GP t a list of a thousand gave chat GP t a list of a thousand different websites could it classify different websites could it classify different websites could it classify them as being e-commerce or content or them as being e-commerce or content or them as being e-commerce or content or SAS or something else it could you can SAS or something else it could you can SAS or something else it could you can train these models pretty easily with train these models pretty easily with train these models pretty easily with prompts to be able to figure out which prompts to be able to figure out which prompts to be able to figure out which categories that things fit into and so categories that things fit into and so categories that things fit into and so if you have a place in your app where if you have a place in your app where if you have a place in your app where someone might need to do manual work to someone might need to do manual work to someone might need to do manual work to categorize things such as for example categorize things such as for example categorize things such as for example support emails where you might want to support emails where you might want to support emails where you might want to categorize them into pricing tier or categorize them into pricing tier or categorize them into pricing tier or categorize them by topic this is categorize them by topic this is categorize them by topic this is something that you could think about something that you could think about something that you could think about integrating the third category of AI is integrating the third category of AI is integrating the third category of AI is summarization so this is taking a summarization so this is taking a summarization so this is taking a YouTube video and turning it into a two YouTube video and turning it into a two YouTube video and turning it into a two paragraph summary turning this YouTube paragraph summary turning this YouTube paragraph summary turning this YouTube video into a tweet thread taking a video into a tweet thread taking a video into a tweet thread taking a podcast episode and writing show notes podcast episode and writing show notes podcast episode and writing show notes for it that are much shorter than the for it that are much shorter than the for it that are much shorter than the transcript I realize that summarization transcript I realize that summarization transcript I realize that summarization is really generative and that it's is really generative and that it's is really generative and that it's taking a source and turning it into taking a source and turning it into taking a source and turning it into something else but for the exercise of something else but for the exercise of something else but for the exercise of thinking through how this can apply to thinking through how this can apply to thinking through how this can apply to your SAS application I think it's pretty your SAS application I think it's pretty your SAS application I think it's pretty important to separate generative from important to separate generative from important to separate generative from summarization and realize that if folks summarization and realize that if folks summarization and realize that if folks need to do something like this in your need to do something like this in your need to do something like this in your app it's probably time to think about app it's probably time to think about app it's probably time to think about integrating and the fourth thing that AI

integrating and the fourth thing that AI integrating and the fourth thing that AI does well is prediction so you can does well is prediction so you can does well is prediction so you can imagine if you have a financial imagine if you have a financial imagine if you have a financial application something that has a lot of application something that has a lot of application something that has a lot of numbers in it frankly and any kind of numbers in it frankly and any kind of numbers in it frankly and any kind of graph that has a trend AI can take that graph that has a trend AI can take that graph that has a trend AI can take that and Trend it out not just in a linear and Trend it out not just in a linear and Trend it out not just in a linear fashion but it would take seasonality fashion but it would take seasonality fashion but it would take seasonality into account it could take a lot of into account it could take a lot of into account it could take a lot of things into account frankly so this things into account frankly so this things into account frankly so this might be a narrower use case and if might be a narrower use case and if might be a narrower use case and if you're not in financial or you know you're not in financial or you know you're not in financial or you know let's say you're a metrics dashboard let's say you're a metrics dashboard let's say you're a metrics dashboard anything like that I think predictive AI anything like that I think predictive AI anything like that I think predictive AI could be a compelling feature for you to could be a compelling feature for you to could be a compelling feature for you to potentially integrate so again those are potentially integrate so again those are potentially integrate so again those are the four categories and if I were a SAS the four categories and if I were a SAS the four categories and if I were a SAS founder today and what I'm telling my founder today and what I'm telling my founder today and what I'm telling my tiny seat companies is to think about tiny seat companies is to think about tiny seat companies is to think about whether any or all of these use cases whether any or all of these use cases whether any or all of these use cases can help your customers get there faster can help your customers get there faster can help your customers get there faster within your app so that was the first within your app so that was the first within your app so that was the first point of five things you should know point of five things you should know point of five things you should know about AI the second one is that unless about AI the second one is that unless about AI the second one is that unless you build something novel that is you build something novel that is you build something novel that is non-obvious and difficult to build AI is non-obvious and difficult to build AI is non-obvious and difficult to build AI is not a differentiator realizing that if not a differentiator realizing that if not a differentiator realizing that if you ask open AI or you hit their API and you ask open AI or you hit their API and you ask open AI or you hit their API and you create something that a year ago you create something that a year ago you create something that a year ago would have been unimaginable today it's would have been unimaginable today it's would have been unimaginable today it's really easy if it takes you a couple really easy if it takes you a couple really easy if it takes you a couple days to build that anyone could build it days to build that anyone could build it days to build that anyone could build it in a couple days that's the thing of AI in a couple days that's the thing of AI in a couple days that's the thing of AI is it's not a differentiator but it is is it's not a differentiator but it is is it's not a differentiator but it is something of an accelerant right something of an accelerant right something of an accelerant right everyone can use this and this reminds everyone can use this and this reminds everyone can use this and this reminds me when the rails web development me when the rails web development me when the rails web development framework came out for Ruby several framework came out for Ruby several framework came out for Ruby several years ago and when we first saw it we years ago and when we first saw it we years ago and when we first saw it we were like well now you can build Twitter were like well now you can build Twitter were like well now you can build Twitter in 20 minutes you know there's this in 20 minutes you know there's this in 20 minutes you know there's this great demo of doing it but what we great demo of doing it but what we great demo of doing it but what we realized is that it's not a realized is that it's not a realized is that it's not a differentiator because anyone who knows

differentiator because anyone who knows differentiator because anyone who knows Ruby can use rails and so it became an Ruby can use rails and so it became an Ruby can use rails and so it became an accelerant where we can now build more accelerant where we can now build more accelerant where we can now build more things faster and developers become more things faster and developers become more things faster and developers become more efficient but everyone can use it and so efficient but everyone can use it and so efficient but everyone can use it and so it is not a differentiator in fact the it is not a differentiator in fact the it is not a differentiator in fact the differentiation is if you don't use it differentiation is if you don't use it differentiation is if you don't use it you will slowly fall behind so if you you will slowly fall behind so if you you will slowly fall behind so if you don't use a web development framework don't use a web development framework don't use a web development framework today like a rails or a Django or a today like a rails or a Django or a today like a rails or a Django or a laravel and you're coding in those laravel and you're coding in those laravel and you're coding in those languages is you will get a lot less languages is you will get a lot less languages is you will get a lot less done in the same amount of time the last done in the same amount of time the last done in the same amount of time the last point on this is the obvious ideas that point on this is the obvious ideas that point on this is the obvious ideas that will take you a week to build like hey will take you a week to build like hey will take you a week to build like hey take this YouTube video and turn it into take this YouTube video and turn it into take this YouTube video and turn it into XYZ they are already or they will soon XYZ they are already or they will soon XYZ they are already or they will soon be Commodities because these things are be Commodities because these things are be Commodities because these things are not that hard to build and so there is not that hard to build and so there is not that hard to build and so there is no moat right you need you still need a no moat right you need you still need a no moat right you need you still need a moat today like you needed a moat six moat today like you needed a moat six moat today like you needed a moat six months ago and these moats will be the months ago and these moats will be the months ago and these moats will be the same AI is just another thing to same AI is just another thing to same AI is just another thing to sprinkle into your application the third sprinkle into your application the third sprinkle into your application the third thing to know about AI is that the Big thing to know about AI is that the Big thing to know about AI is that the Big Ideas the huge horizontal plays like Ideas the huge horizontal plays like Ideas the huge horizontal plays like open Ai and like Google's Bard they're open Ai and like Google's Bard they're open Ai and like Google's Bard they're going to be dominated by the existing going to be dominated by the existing going to be dominated by the existing incumbents the Googles the microsofts incumbents the Googles the microsofts incumbents the Googles the microsofts maybe the Facebooks maybe IBM and maybe the Facebooks maybe IBM and maybe the Facebooks maybe IBM and obviously open AI which kind of cracked obviously open AI which kind of cracked obviously open AI which kind of cracked this whole thing wide open but there is this whole thing wide open but there is this whole thing wide open but there is so much money flowing into those so much money flowing into those so much money flowing into those companies into these efforts that we as companies into these efforts that we as companies into these efforts that we as bootstrapped are mostly bootstrap bootstrapped are mostly bootstrap bootstrapped are mostly bootstrap Founders we don't stand a chance in Founders we don't stand a chance in Founders we don't stand a chance in those spaces so don't think about those spaces so don't think about those spaces so don't think about building your own models because the building your own models because the building your own models because the models of Dolly and of chat GPT are models of Dolly and of chat GPT are models of Dolly and of chat GPT are moving so quickly that by the time you

moving so quickly that by the time you moving so quickly that by the time you get yours trained their two three get yours trained their two three get yours trained their two three versions past you and it's so expensive versions past you and it's so expensive versions past you and it's so expensive and time consuming to build them that we and time consuming to build them that we and time consuming to build them that we now have to think about building on top now have to think about building on top now have to think about building on top of their models rather than thinking of their models rather than thinking of their models rather than thinking that we as mostly bootstrap Founders can that we as mostly bootstrap Founders can that we as mostly bootstrap Founders can possibly compete in horizontal AI the possibly compete in horizontal AI the possibly compete in horizontal AI the fourth thing you should know about AI is fourth thing you should know about AI is fourth thing you should know about AI is that it is an incredible accelerant that it is an incredible accelerant that it is an incredible accelerant within your company consider using it within your company consider using it within your company consider using it internally and in fact I think every SAS internally and in fact I think every SAS internally and in fact I think every SAS company can use AI internally whether company can use AI internally whether company can use AI internally whether it's to repurpose content like I've it's to repurpose content like I've it's to repurpose content like I've talked about a YouTube video into a talked about a YouTube video into a talked about a YouTube video into a tweet thread or a blog post into a tweet tweet thread or a blog post into a tweet tweet thread or a blog post into a tweet thread or a podcast into a you know a thread or a podcast into a you know a thread or a podcast into a you know a transcript or a podcast into show notes transcript or a podcast into show notes transcript or a podcast into show notes or ask Chad GPT to write cold emails for or ask Chad GPT to write cold emails for or ask Chad GPT to write cold emails for you based on a Persona or it can even you based on a Persona or it can even you based on a Persona or it can even help outline YouTube videos based on a help outline YouTube videos based on a help outline YouTube videos based on a title you know whatever else it can do title you know whatever else it can do title you know whatever else it can do to help you be more productive can to help you be more productive can to help you be more productive can potentially help you get there faster potentially help you get there faster potentially help you get there faster and grow faster and I'm not talking and grow faster and I'm not talking and grow faster and I'm not talking about ways to implement AI as a feature about ways to implement AI as a feature about ways to implement AI as a feature in your product I'm talking about a way in your product I'm talking about a way in your product I'm talking about a way to make your internal operations more to make your internal operations more to make your internal operations more efficient and more effective I think of efficient and more effective I think of efficient and more effective I think of it a little bit like in 2008 when it a little bit like in 2008 when it a little bit like in 2008 when suddenly I was able to Outsource work to suddenly I was able to Outsource work to suddenly I was able to Outsource work to a five dollar an hour virtual assistant a five dollar an hour virtual assistant a five dollar an hour virtual assistant in the Philippines and that changed the in the Philippines and that changed the in the Philippines and that changed the game for my little software company at game for my little software company at game for my little software company at that point AI can do something similar that point AI can do something similar that point AI can do something similar for you not every SAS app needs AI for you not every SAS app needs AI for you not every SAS app needs AI inside I think most do and I think most inside I think most do and I think most inside I think most do and I think most can use AI but I do believe that every can use AI but I do believe that every can use AI but I do believe that every SAS company in its own operations can SAS company in its own operations can SAS company in its own operations can and should be using AI namely chat GPT

and should be using AI namely chat GPT and should be using AI namely chat GPT these days but there are also many tools these days but there are also many tools these days but there are also many tools that utilize open AI like automata or that utilize open AI like automata or that utilize open AI like automata or alright that you can be using in your alright that you can be using in your alright that you can be using in your day-to-day operations the fifth thing day-to-day operations the fifth thing day-to-day operations the fifth thing you should be thinking about in terms of you should be thinking about in terms of you should be thinking about in terms of AI is that some businesses some SAS AI is that some businesses some SAS AI is that some businesses some SAS companies are effectively ticking time companies are effectively ticking time companies are effectively ticking time bombs because AI is going to make your bombs because AI is going to make your bombs because AI is going to make your business obsolete or just really business obsolete or just really business obsolete or just really unnecessary very inexpensive very easy unnecessary very inexpensive very easy unnecessary very inexpensive very easy to accomplish because if you have a team to accomplish because if you have a team to accomplish because if you have a team of five or ten analysts that are of five or ten analysts that are of five or ten analysts that are analyzing data and summarizing things analyzing data and summarizing things analyzing data and summarizing things and doing operations that AI can now do and doing operations that AI can now do and doing operations that AI can now do for almost free in the snap of a finger for almost free in the snap of a finger for almost free in the snap of a finger the value of what you do is going to the value of what you do is going to the value of what you do is going to drop dramatically so something you could drop dramatically so something you could drop dramatically so something you could charge a thousand dollars a month for charge a thousand dollars a month for charge a thousand dollars a month for today might be worth 20 minutes of today might be worth 20 minutes of today might be worth 20 minutes of someone's time next month and that can someone's time next month and that can someone's time next month and that can really change the economics of your really change the economics of your really change the economics of your business and so I think a big thing to business and so I think a big thing to business and so I think a big thing to ask yourself is whether AI today can ask yourself is whether AI today can ask yourself is whether AI today can mostly replace what your product does mostly replace what your product does mostly replace what your product does and whether you need to integrate AI to and whether you need to integrate AI to and whether you need to integrate AI to make yourself more efficient or to stay make yourself more efficient or to stay make yourself more efficient or to stay ahead of this curve so that you don't ahead of this curve so that you don't ahead of this curve so that you don't wake up one day in a year or two and wake up one day in a year or two and wake up one day in a year or two and realize I don't really have a business realize I don't really have a business realize I don't really have a business anymore because people can accomplish anymore because people can accomplish anymore because people can accomplish what I'm charging them a lot of money to what I'm charging them a lot of money to what I'm charging them a lot of money to do they can accomplish this in a few do they can accomplish this in a few do they can accomplish this in a few minutes using chat GPT in a minute I'm minutes using chat GPT in a minute I'm minutes using chat GPT in a minute I'm I'm going to tell you the other AI video I'm going to tell you the other AI video I'm going to tell you the other AI video that you should watch immediately after that you should watch immediately after that you should watch immediately after this one but before I do that I want to this one but before I do that I want to this one but before I do that I want to let you know that microcomp Europe let you know that microcomp Europe let you know that microcomp Europe tickets are on sale you know this is the tickets are on sale you know this is the tickets are on sale you know this is the microconf YouTube channel and we run

microconf YouTube channel and we run microconf YouTube channel and we run in-person events and our Flagship Europe in-person events and our Flagship Europe in-person events and our Flagship Europe event is in Lisbon in October of 2023. event is in Lisbon in October of 2023. event is in Lisbon in October of 2023. if you want to get in a room where you if you want to get in a room where you if you want to get in a room where you can chat with other Founders who are not can chat with other Founders who are not can chat with other Founders who are not only chatting about how AI will affect only chatting about how AI will affect only chatting about how AI will affect their business but all the other SAS their business but all the other SAS their business but all the other SAS stuff of building launching and growing stuff of building launching and growing stuff of building launching and growing head to microconf.com Europe and see if head to microconf.com Europe and see if head to microconf.com Europe and see if you can still grab a ticket it's October you can still grab a ticket it's October you can still grab a ticket it's October 1st through the 3rd of 2023 tickets are 1st through the 3rd of 2023 tickets are 1st through the 3rd of 2023 tickets are going fast and we do expect it to sell going fast and we do expect it to sell going fast and we do expect it to sell out speakers include Michelle Hanson of out speakers include Michelle Hanson of out speakers include Michelle Hanson of geocodio Dr Sherry Walling Stephen and geocodio Dr Sherry Walling Stephen and geocodio Dr Sherry Walling Stephen and Allah Craven of stridentist I'll be Allah Craven of stridentist I'll be Allah Craven of stridentist I'll be doing a talk I hope to see you in Lisbon doing a talk I hope to see you in Lisbon doing a talk I hope to see you in Lisbon in October so we know that AI has huge in October so we know that AI has huge in October so we know that AI has huge potential but also has major pitfalls potential but also has major pitfalls potential but also has major pitfalls and you should check out this other and you should check out this other and you should check out this other video on our Channel about how chat GPT video on our Channel about how chat GPT video on our Channel about how chat GPT blew up a SAS app in the worst way blew up a SAS app in the worst way blew up a SAS app in the worst way thanks thanks for watching