[OBO Digest] Will AI make your business irrelevant?

The biggest tech trends impacting online businesses and how to leverage them to work for you in 2023

Online Business Owner • January 12, 2023

Welcome to the return of the Online Business Digest.

To say we have huge plans for 2023 is an understatement. But we’ll save all that for later because first, we have some unique, innovative, and thought-provoking insights from the world of AI.

In many ways, AI has seen faster development in the past few weeks than in the past several years combined. Technology is developing at a rapid pace and businesses from all industries are beginning to feel the effects.

This week, we’re covering how these changes affect you and how to get ahead of the curve so you can make AI work for you and your business.

Let’s dive in, and don’t forget to share The Digest with your biz besties, clients, and friends so they too can be in the know about what’s happening in online business!

Enjoy,

The Team at OnlineBusinessOwner.com

News + Happenings

Creating Better Content Faster With AI

There’s been plenty of discussions recently about the future of content creation, with many creators thinking it could be used to create quality content faster and at scale.

While AI will likely continue to play a heavier role in content production, that’s not quite what we’re talking about here. Instead, the question you need to ask is: How can I use AI to inform what I produce?

This can be as simple as asking Chat-GPT for a list of 50 examples of short-form content for your business and tossing out everything you don’t like.

In the past, this took lots of time as you turned to Google in search of content ideas—or worse, scrolling through social media in the hope of finding inspiration.

It required a lot of filtering. And even when you did find something interesting, you would then have to perform competitor research, create a content schedule, make a plan to repurpose it… and all this before you even began to create your content!

The recent exponential rise of AI has changed this, allowing you to simply pick and choose the best ideas it presents you, making a few tweaks to best suit your audience.

In short… this entire process can now take minutes instead of hours!

At a time when you no doubt have so much to do and are looking to better optimize your workflow, this could be the difference between achieving your goals and falling short. So, how do you do this? Here are some specific action steps to get you started.

Assemble a brief on everything you’ve already tried, who your competitors are, notes on your brand voice, and context for the offers you sell.
Enter this brief into Chat-GPT and ask for the specific type of content you want to create along with a number of options—going higher allows you to get some less obvious and more original ideas, so don’t be afraid to ask for 100+.
Filter out the mediocre answers, gather the ones you like, and start creating!

That’s it. There’s no better time to ignite your content strategy, and by implementing AI into your workflow you can save time, resources, and set yourself up for huge success.

Social Media News + Updates

📸 Instagram recently launched Group Profiles, allowing you to create profile posts that only show up for a select group of friends or followers—this could be a powerful method for building engagement for high-ticket offers.

⏰ The TikTok Shop is live, providing a native integration for creators and direct-to-consumer businesses to sell their products via the platform.

📸 Instagram Candid Stories offer an interesting contrast to the typical heavily filtered content normally posted online, potentially creating opportunities for more “raw” content to succeed on the platform.

⏰ The US House of Representatives has been mandated to delete TikTok from government-issued phones; could this be an indicator of future legislative efforts against the social media platform?

📸Instagram AR ads offer a new form of engagement for businesses to leverage with consumers, especially for more interactive conversion objectives like downloading games or participating in contests.

Will AI Take Over Jobs And Make Today’s Online Businesses Irrelevant?

With the huge breakthrough of Chat-GPT and its extremely effective language and information processing abilities, many people are understandably concerned about the potential impacts on their livelihood.

The greatest fears appear to be concentrated in college graduates, with 69% expressing concerns that AI will take their jobs in just a few years.

This is a huge leap from the talk of automating retail and food industry roles like cashiers, expanding to include a variety of skilled labor roles.

Take law firms, as an example, who are looking into the possibility of consolidating the jobs of multiple paralegals to accelerate the research process for cases.

Obviously, the need for relevant context and information accuracy is still there, but the most time-consuming aspects of many roles are being cut down—or even eliminated—as the work of multiple people can be done by a single person.

This is worrying for many. Yet is it all doom and gloom for online business owners?

Absolutely not!

Why this matters for online business…

There’s currently a tremendous opportunity for highly driven businesses because although your clients may soon no longer need many of the roles they have traditionally hired out for, what they will need more than ever is a reliable partner.

The execution of great ideas, for instance, still has a clear advantage in the wake of AI, in everything from product development to design, and even marketing strategy.

Yet this isn’t where the opportunities end!

And it’s businesses that both adapt and embrace these evolutions that are set to come out on top, as this thought-provoking piece from Tidio clearly demonstrates.

Ways You Can Leverage AI Right Now In Your Business

AI has been making its way into the primary functions of many businesses for quite some time—in fact, 86% of CEOs say it’s already deeply integrated into their systems.

Its potential is boundless, although one of the biggest areas where you can begin putting AI to work for you right now is marketing and sales.

Lead scoring is a great example.

Many ESPs (email service providers) provide this option, allowing you to automatically rate the quality of your leads based on their level of engagement. This not only saves you a lot of time but allows you to better leverage everything from your advertising budget to sales processes.

Why this matters for online business…

Used properly, AI presents an incredible opportunity for you to get more done in less time—let alone scale your operations in more efficient and effective ways.

One of them, as we’ve already discussed centers around Lead Scoring.

Yet there’s so much more you can utilize once you dig a little deeper.

In this interesting guide from Levity, 7 applications are put to the test, showing you what you can implement today to make AI truly work for you.

In Other News

🚗 The US government has launched new tax credits for electric vehicles—could this change the buying behavior of millions of car owners?

📈 What you can learn from the 10 biggest Pacific Northwest startup funding rounds of 2022, and what it means for the global direction of online business as a whole.

💰 Even though cryptocurrencies have taken a major hit across the board, blockchain technology has tons of possibilities even beyond the world of finance; here’s what we can expect for the future.

YOUR WEEKLY KICK IN THE PANTS

@thewhyoffi

@thejustinwelsh

[OBO Digest] Will AI make your business irrelevant?

The biggest tech trends impacting online businesses and how to leverage them to work for you in 2023