The Ultimate Guide to Using AI for Better Business Efficiency

Summary

This video script emphasizes the importance of leveraging AI to enhance business efficiency and profitability. The primary focus is on reducing the time it takes for customers to receive services, as speed can increase market share and allow for premium pricing. Examples like Uber and helicopter services illustrate the value of convenience and time-saving. The speaker suggests using AI to streamline processes, such as scriptwriting for videos, to deliver products faster and charge more, ultimately improving the customer experience.

Takeaways

• 😀 AI can be leveraged to make businesses more profitable, efficient, and smooth.
• 🚀 The primary goal of using AI in business should be to improve and chase improvements.
• ⏱ Decreasing the time it takes for a customer to receive the final service is crucial.
• 💰 Faster service delivery can allow businesses to charge more and gain market share.
• 🌐 The importance of timely service delivery applies across all industries.
• 🚕 Examples like Uber show that convenience and speed can significantly impact customer preference and pricing.
• 🛩 The helicopter service from JFK to Manhattan is more expensive but valued for its time-saving convenience.
• 📝 AI can be used to automate and expedite tasks such as scriptwriting, making the process more efficient.
• 📈 By using AI, businesses can increase output and potentially charge more for faster service delivery.
• 🛠️ AI can be integrated into existing products, services, and processes to save time for the customer.
• 🎨 AI tools can be used for quick tasks like photo or video editing, generating videos, or creating graphics.

Q & A

What is the primary focus of the video regarding the use of AI in business?

The primary focus of the video is on leveraging AI to decrease the time it takes for customers to receive services, thereby making the business more efficient and potentially allowing for higher charges due to the added convenience and speed.

Why is it beneficial for businesses to deliver services faster to customers?

Delivering services faster can allow businesses to charge more money, capture more market share, and provide additional value to customers, which can lead to increased profitability and customer satisfaction.

What is an example given in the video to illustrate the importance of speed in service delivery?

The video uses the example of Uber versus traditional taxis, where Uber's convenience and speed of service delivery have made it a preferred choice for many customers, even at a potentially higher cost.

How does the convenience and speed of service delivery impact the customer's willingness to pay more?

Customers are often willing to pay more for the convenience and speed of service because it saves them time and provides a better overall service experience.

What is another example provided in the video where speed and convenience can justify a higher cost?

The video mentions taking a helicopter from JFK to Manhattan as an example where the convenience and time saved justify the higher cost compared to a taxi or Uber.

How can AI be used to improve efficiency in script writing for a marketing agency?

AI can be used to generate a first draft of a script quickly, which can then be modified and tweaked by the human writer to make it unique and personalized, significantly reducing the time spent on writing.

What is the potential financial benefit of using AI to speed up script writing?

By using AI to speed up the script writing process, a marketing agency could potentially increase its output and revenue, as it could produce more scripts in the same amount of time, allowing for higher charges per script.

How can AI be applied to other creative processes like video editing or graphic design?

AI can be used to automate tasks such as editing videos into short clips, adding captions, or generating first drafts of graphics, which can drastically reduce the time required to complete these tasks.

What is the key takeaway from the video for entrepreneurs looking to implement AI in their business?

The key takeaway is that entrepreneurs should prioritize using AI to make their business processes faster and more efficient, which can lead to improved customer service experiences and the ability to charge more for services.

What does the video suggest about the relationship between AI, customer service experience, and business profitability?

The video suggests that by using AI to enhance the speed and efficiency of delivering services, businesses can improve the customer service experience and increase profitability through higher charges and increased output.

How can businesses identify areas where AI can be leveraged to save time for customers?

Businesses should analyze their existing products, services, and processes to identify areas where AI can automate or speed up tasks, thereby reducing the time it takes for customers to receive the final deliverable.

Outlines

00:00

🚀 Leveraging AI for Business Efficiency and Profitability

The speaker emphasizes the importance of using AI in business to improve efficiency and profitability. They suggest that the primary focus should be on reducing the time it takes for customers to receive services or products, which can lead to higher charges and market share. The example of Uber versus traditional taxis is used to illustrate the value of convenience and speed in customer service. The speaker also mentions the potential for AI to expedite processes like scriptwriting, allowing for quicker delivery and modification of content, ultimately enhancing the customer experience and business performance.

05:02

💼 Increasing Output and Value with AI in Business

In this paragraph, the speaker discusses the financial benefits of using AI to increase work output and efficiency. They provide a hypothetical scenario where an AI tool is used to write video scripts, significantly reducing the time and effort required compared to traditional methods. The speaker calculates the potential earnings increase by showing how the same amount of work that took days can now be completed in hours, thus multiplying the income. They also touch on the convenience factor for customers, who are willing to pay more for faster services, and suggest that AI can be applied to various tasks such as photo and video editing, and graphic design to provide a competitive edge in the market.

Keywords

💡AI

AI, or Artificial Intelligence, refers to the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions. In the video's context, AI is presented as a tool to improve business efficiency, profitability, and customer service by reducing the time it takes for a customer to receive a service or product. An example from the script is using AI to generate video scripts quickly, thus saving time and potentially increasing revenue.

💡Improvement

Improvement is the act of making something better or enhancing its quality. The video emphasizes the pursuit of improvement as a primary reason for integrating AI into business operations. It suggests that AI can be leveraged to improve various aspects of a business, such as reducing customer wait times and streamlining service delivery, as illustrated by the example of Uber providing faster service than traditional taxis.

💡Efficiency

Efficiency in the video is described as the ability to perform tasks with the least amount of waste, time, or effort. It is a central theme where AI is proposed to increase business efficiency by automating processes and reducing the time it takes to deliver services. The script mentions using AI to write video scripts faster as an example of improving efficiency.

💡Customer Service Experience

Customer service experience encompasses all interactions a customer has with a business, and it is a critical aspect of the video's message. The script suggests that by using AI to expedite services, businesses can enhance the customer service experience, making it faster and more convenient, which can lead to higher customer satisfaction and willingness to pay a premium.

💡Market Share

Market share is the portion of the total market for a particular product or service that a business captures. The video implies that businesses that can deliver services faster using AI have the potential to capture a larger market share due to the added convenience and reduced wait times, as exemplified by the Uber versus taxi comparison.

💡Convenience

Convenience in the video is highlighted as a key factor that can influence customer choice and willingness to pay more. It is linked to the speed and ease of accessing services, with the script mentioning how the convenience of ordering an Uber through an app can be more appealing than traditional taxi services.

💡Script Writing

Script writing is the process of creating written content for videos, films, or other media. The video script uses this as an example of how AI can be utilized to generate first drafts quickly, thus saving time and allowing for more scripts to be produced in a shorter period, potentially increasing the revenue from script sales.

💡Video Editing

Video editing is the process of assembling and fine-tuning footage to create a final video product. The video mentions AI's capability to assist in video editing by quickly cutting footage into clips and adding captions, which exemplifies how AI can streamline the post-production process and deliver content faster to customers.

💡Revenue

Revenue is the income generated from business activities. The video script discusses how using AI can lead to increased revenue by allowing businesses to produce more output in less time, as demonstrated by the potential to write and sell more video scripts quickly due to AI assistance.

💡Competitors

Competitors are businesses that offer similar products or services and are in direct competition with one another. The video emphasizes the importance of using AI to outpace competitors by delivering services faster and more efficiently, which can result in higher prices and premium services due to the value of time saved for the customer.

Highlights

The primary use of AI in business should be to decrease the time it takes for customers to receive the final service or product.

Efficiency in delivering services can lead to higher prices and market share due to the value of time saved.

The convenience and speed of service delivery are crucial for customer satisfaction and willingness to pay more.

Examples given include Uber's efficiency compared to traditional taxis and the convenience of helicopter services over driving.

AI can be used to increase the efficiency of existing products and services, leading to faster delivery times.

Leveraging AI in business processes can result in significant time savings, which can translate to increased output and revenue.

AI can be utilized to generate first drafts of scripts or other creative content, reducing the time spent on initial creation.

The use of AI can lead to a tenfold increase in work output within the same timeframe, potentially increasing income.

AI can be employed to provide services such as photo or video editing much faster than traditional methods.

AI tools can generate videos, flyers, and graphics, offering a competitive advantage in speed of service delivery.

The ability to deliver services quickly using AI can command a premium price in the market due to the value of time.

Entrepreneurs should prioritize using AI to enhance the speed of service delivery to improve customer experience.

AI can be integrated into various business processes to identify and automate time-consuming tasks.

The transcript emphasizes the importance of leveraging AI to make improvements in business operations.

AI's role in business is not limited to internal efficiency but extends to enhancing the customer's perception of value.

The transcript suggests that AI can be a game-changer for businesses looking to compete on speed and convenience.

AI implementation in customer-facing processes can lead to a superior customer service experience.

Transcripts

you're probably watching this video and

wondering where you should be using AI

in your business now you've probably

seen some of my other videos on

leveraging AI to make your business more

profitable to make more money uh to make

it more efficient and run more smoothly

but at the end of the day as

entrepreneurs or as business owners or

even sometimes just employees we want to

figure out a way to leverage AI to make

things better so we want Improvement

we're chasing Improvement here so if we

want to chase Improvement here's the the

first place that I believe you should be

using AI in your business and I'll give

you a couple examples but at the end of

the day it all comes down to decreasing

the amount of time that it takes for a

customer to pay you and for them to get

their final service right the

deliverable whatever you're providing

for them then by the way this is not

specific to any industry it could

literally be anything but that service

that you're providing to the customer

has to be delivered to them in a timely

manner and one thing that I've figured

out in business is it's a great to you

know spend months and months and months

working on something but if somebody can

figure out how to get that service to

the customer faster than you can they're

going to be able to charge even more

money than you are first of all because

they're providing that additional value

but second of all they're probably going

to take a lot of market share and I

remember back to some examples like even

by the way Uber and taxis the reason

that like growing up I never like to

take taxis is just because they take so

long to get there there and it takes a

while to call and to order and to

explain where you're at and all these

different things and that's just a pain

nobody wants to go through that so when

businesses started thinking about okay

how can we provide this customer this

service more efficiently and faster more

importantly they would be able to charge

more than taxis because that service is

going to arrive faster and a lot of

times I see that by the way like the

convenience the sheer convenience and

the amount of time that I have to spend

ordering an Uber is used usually less

than a taxi now in some cities it's

different like for example whenever I go

to Paris I know that you know it's

pretty easy to find a taxi there there's

a lot of them and they have special you

know taxi privileges for like parking

and all that stuff and so a lot of times

it is easier to take a taxi and I will

but at the end of the day I know that in

most cities it's much easier for me to

just go on my phone click a couple

buttons and Order My Uber and I know my

Uber is going to get there quickly so

that speed that convenience makes a huge

difference for me and I know it does for

a lot of business people as well so I'm

even willing to pay more for that

convenience um there's also some

examples like for example if you land uh

in New York from JFK to Manhattan it's

probably depending on traffic an hour to

2hour drive now you could drive that in

a taxi or an Uber or whatever it is or

you could head over to the helicopter

and take a helicopter from a blade

helicopter from the airport to uh the

city and then you land in the city and

now you're just a couple minutes away

from your uh hotel or wherever you're

staying at right so that convenience

right there yes it's twice as expensive

as a taxi you know sometimes maybe not

quite twice as expensive but at the end

of the day it is more expensive but that

convenience that time that you're saving

makes a huge difference and so for a lot

of people it's worth it and they're

willing to do that now when it comes to

providing a service like that using AI

you need to start thinking about what

kind of AI can I leverage in my existing

products and services in my existing

processes in my existing ways of

business in order to save time for the

customer how can I deliver this faster

how can I finish working faster how can

I do all these things more efficiently

so a lot of times what it comes down to

is efficiency and there are some things

in the process I would say no matter

what process you're doing no matter what

uh product you're delivering there are

usually things that you can use AI to do

faster so for example if I am a you know

a script writer and I'm writing scripts

for videos and this is I'll give you a

couple examples just to get the gears

turning for you guys but this is kind of

what it comes down to let's say I write

scripts for videos let's say I work in a

marketing agency I want to write scripts

for videos but I'm just having trouble

coming up with ideas and you know it

takes me a while even just to type out

the script let's say I have the idea I

know exactly what I wanted to say but

just writing out that first draft of the

script it takes time so I could leverage

AI to do that that right there instead

of somebody spending 3 4 days writing

this whole script you know matching you

know all the the characters and the

story line and all that stuff and making

sure it's perfect yeah you can do that

but it's probably going to take you a

couple days and so you can deliver this

hourlong script for an hourong video

it's almost a movie at this point right

and you can type all that out or I could

have ai do that within seconds and it

can at least give me a first draft to

work off of and then I can use that AI

script in order to modify it and tweak

it a little bit to make it really my own

because at the end of the day I'm the

one that's providing the uh expert

knowledge here but I'm using AI to do it

10 times faster and so what does that

mean at the end of the day if we just

look at the raw numbers technically that

means I could do 10 times as much work

in the same amount of time so if I was

charging a per script price right I know

the right prompts to type into the AI

tool I know the right things to ask it I

know the right guidelines to set and if

I'm charging let's say $11,000 per

script instead of it taking me two days

to make $1,000 I can make $10,000 in one

day right or $10,000 in two days if I'm

doing it 10 times as fast so every two

days I'm making $10,000 $110,000 $10,000

so that like sheer output alone is going

to make you more money but then also we

have the side of convenience oh you can

go hire a script writer and they'll

write a script for you and it's going to

take them 2 3 days maybe I can can do it

in 15 minutes or let's say not 15

minutes but like turnaround time could

be 2 hours I can do it in 2 3 4 hours

and I'll get that product over to you

customer in 4 hours and it's going to be

perfect I will have proof Reddit and all

that stuff I can get that done in 4

hours while everybody else is taking 2 3

days but my price is not $1,000 it's

$1,500 so now on top of that I'm making

50% more and my output is 10 times

bigger than it used to be because I'm

using AI so really the number one thing

that you should be using AI for is to

save time for your customer I'm not even

talking about optimizing your

organization for efficiency for yourself

I'm talking about using AI to deliver a

product faster it also could be photo

editing it could be video editing like

you could literally use an AI tool to

edit this video and cut it into a bunch

of short clips and add captions and you

can do that within seconds uh you can

also use Ai and this is another good one

um you can use AI to generate video you

can literally just type in an idea about

videos or you can create flyers or

Graphics or whatever it is and at least

get a first draft and provide that

service much faster than everybody else

and why are you able to do that because

you're leveraging AI to provide that

service faster so really when it comes

to business entrepreneurship whatever it

is this is the one thing that you should

be using AI for first before anything

else find a way to use AI to make your

business more efficient find a way to

leverage it in a way that provides your

customer that that service or that that

product faster than your competitors and

if you can provide it faster than your

competitors you can charge more and you

can provide a more premium service

because people don't like to wait people

like things fast they like things to be

instant and a lot of times they're

willing to pay for that as well so as an

entrepreneur it's a smart move you

should be leveraging AI to make things

faster for your customer and at the end

of the day that improves the customer

service experience so thank you guys for

watching make sure you like comment and

subscribe and I'll see you all on the

next video

n

[Applause]