AI Guides with John Stroud | E109
Harnessing AI at any level of organization.
In this episode of the Financial Planning for Canadian Business Owners Podcast, host Jason Pereira interviews John Stroud, the CEO of AI Guides, an AI strategy and consulting company. The episode focuses on artificial intelligence, particularly generative AI, and how it can benefit businesses of all sizes, including single-person operations. The conversation explores various options available in the AI space to improve business operations.
Episode Highlights
00:43: John Stroud explains that AI Guides help organizations harness the power of artificial intelligence, specifically focusing on generative AI. He mentions that AI can benefit businesses of all sizes, even single-person operations, and there are various options available to improve business processes.
01:53: AI, particularly ChatGPT, is a hot topic and mentions its significant impact on technology. John highlights how ChatGPT quickly captured everyone's imagination and compares its impact to previous revolutionary technologies like the iPhone.
02:48: ChatGPT's impact has made artificial intelligence a hot topic in technology.
03:19: John and Jason highlight the impact of ChatGPT on the perception of artificial intelligence. John simplifies the concept of AI as a prediction machine and uses the analogy of a car to explain its three main components: data, data refinement, and algorithms.
04:45: John and Jason discuss how poor data management and errors in data input have hindered organizations from effectively leveraging AI. They highlight the need for accurate and well-maintained data to avoid the "garbage in, garbage out" problem and increase the chances of successful AI projects.
06:11: John and Jason discuss the importance of realistic expectations, adequate preparation, and the potential negative outcomes that can occur if AI initiatives are mishandled.
06:52: Generative AI has lowered the threshold for anyone to get involved in AI projects. The intuitive chat interface has made it easier for people to access and use AI. Additionally, the availability of pre-trained models has facilitated the implementation process.
10:06: John talks about the accessibility and practical applications of AI, focusing on specific use cases that can enhance productivity and efficiency for small businesses.
11:21 John explains how users can fine-tune the AI model with their own data for specific answers.
11:40: Jason and John mention using AI-powered tools like Chat GPT in Google Docs and Microsoft Office for writing blog posts, letters, and other documents. He emphasizes the time-saving benefits of these tools and how they can be easily implemented without intimidation.
15:48: John suggests treating the exploration of AI as a science experiment and considering the opportunities while managing the potential risks.
16:37: If someone wants to expand their use of AI, they can consider seeking outside help for advice, says John.
17:26: John mentions a system called "PDF or chat PDF" where PDFs can be uploaded, and questions can be asked.
18:35: John mentions the possibility of OpenAI developing more private containers for protecting information.
19:45 John discusses foundational steps and what people should be aware of before starting their AI journey.
24:00: John raises the topic of prompts and their importance in AI.
25:21: John discusses the fear of AI replacing jobs and the need for companies to invest in technology.
28:08: Jason highlights the creation of new tasks and opportunities through AI.
29:35: John advises staying ahead of the rapid pace of AI development and starting with small improvements.
30:31: John emphasizes the need for continuous learning and adapting to new tools and technologies.
3 Key Points
John and Jason discuss the potential risks, costs, and consequences of AI projects that are not properly planned or supported by the necessary infrastructure.
John and Jason explain how generative AI has made AI more accessible and easier to implement, addressing some of the challenges related to data stewardship and system integration.
There is a government grant in Canada that provides funding for digital strategies, making it easier for companies to explore AI opportunities.
Tweetable Quotes
"Chat GPT can be a helpful resource in understanding AI and its applications." - John
"Open AI is going to allow for more private containers where you make sure that your information will be protected." - John
"You are creating a digital strategy. So, for companies that have a $500,000 in revenue. They probably qualify for this grant, and that gives them $15,000 towards the preparation of this strategy. So, if you got a hunch about how you might be able to use AI, then the vast majority of the cost is covered through a grant." - John
Resources Mentioned