Startups are also hopping on How to operate with shrinking budgets and leverage AI to streamline operational costs has become the preferred strategy for many founders and CEOs. However, the mistake they often make is limiting the role of AI to specific functions such as customer service or translations.
The potential of AI is much greater, and if harnessed properly, it can lead to the creation of AI-enabled business units that are able to deliver projects at greater speeds.
We used OpenAI’s ChatGPT to assemble an AI-based team and see if it could perform jobs like testing new products, preparing business plans, and more.
The results obtained were robust, and the evidence clear.
We saved several weeks and cut our expenses by over $10,000. The experience enabled us to come up with five key steps that founders can follow to fully leverage the power of AI and successfully integrate it as a valuable member of the team while taking into account its capabilities and limitations.
1. Clarity is important: Break down tasks as much as possible to improve accuracy
Before you start, you should have a clear vision of how you plan to use AI and what you want to achieve from it. In our case, we had to define and break down each task to increase understanding and clarity, and it will be the same for you.
For example, we used AI to test the impact of a new product feature on the Indian market. We have written to ChatGPT:
Give me the following:
- 10 companies that regularly work with Indian designers, adding information about their industry and projects.
- 10 popular hobbies among Indian freelancers in Bangalore.
- 10 top concerns among indian independents in bangalore.
- 10 of the biggest hopes among Indian independents in Bangalore.
The results obtained helped us gain a deeper understanding of our target market and reduce the estimated R&D time by several days. AI assistance in this process was even more valuable because we needed answers to the same questions regarding other Indian cities, like Kerala, which have a completely different cultural mindset compared to Bangalore.
Companies that successfully leverage AI as new members of their team will need to balance automation with the human touch.
By being able to leverage this information to our advantage, we saved approximately two weeks of research time, as well as over $2,000 in expenses.
To maximize your results, it’s important to ask ChatGPT to become the character you want. By doing so, the AI will be more clear about how to respond. It’s important to note that if you skip this step, your results may not match well with what you’re looking for.
For example, if we do the above task – researching the Indian freelance market – without defining the role, ChatGPT will not be as efficient. You may still save a few days of searching time, but not as much as you’d like.
This is because, as we will explain throughout the article, the key to getting the best results from AI lies in the details and in being as specific as possible.
Without a role, there’s a chance that working in chat will consume time rather than save it.
Also remember that AI still struggles to effectively handle abstract tasks, and still does You lack logic. So, sometimes you may be asked to dig deeper. Here’s another prompt we used that allowed us to successfully overcome the limitations of LLM.
- Hey, I want you to act as an AI-powered business assistant that saves time for required freelancers by taking care of non-core activities. In the next three messages, I will give you all the information about your experience, tone of voice, fears, and motivations. Here is the message. Read it carefully; It’s about the tone of your voice.