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Navigating Technology & Financial Bias In Plant Medicine While Preparing For Artificial Intelligence-Driven Applications

AI Series Part 3

Midjourney AI interpretation of a robot mowing the lawn
Here is this week's Midjourney AI interpretation of a Happy Lawnmowing Robot"

Are you falling for the AI “gold rush”? 

Welcome back to the third installment of our series, where we dive into the realm of AI tools in small business applications. In our previous articles (Part 1 and Part 2), we ventured into the heart of AI’s allure, exposing its pitfalls and revealing the realities behind the hype. 

If you haven’t yet explored those (highly recommended), we advise approaching the myriad claims and promises made by influencers and YouTube gurus about Artificial Intelligence with caution. 

Now, as our journey progresses, we turn our focus toward uncovering the genuine AI gems that possess the transformative power to revolutionize industry operations within small business applications.

While we do acknowledge the immense potential that AI demonstrates, we haven’t seen much differentiation in artificial intelligence applications as it relates to solutions that ACTUALLY make our jobs easier in the industry, but maybe you know of one.

If so, we welcome your input and contributions as we venture forth in our quest for AI-driven solutions that bring tangible benefits to the plant medicine landscape. 

The Landscape of AI-Driven Tools

Inner Circle CMO Kyle Dammann exploring the limekiln's
The structures behind me are called "lime kilns" and for decades men stood above these furnaces and shoveled coal into them. Compared to them, we don't know a hard day at work.

To gain a comprehensive perspective, it’s crucial to understand the various categories of AI-driven tools and their potential applications within small business models.

Generally speaking, various AI-driven tools and apps are categorized as follows:

  1. Software & Coding
    AI-driven tools like Github Copilot offer valuable assistance to experienced coders and programmers in identifying issues and streamlining codes. Nevertheless, it’s vital to acknowledge that human validation remains essential to ensure reliable code for business operations. 

  2. Content Creation & Research
    The content creation and research category presents compelling possibilities, but it also comes with challenges. While AI bots can generate content, issues surrounding ownership rights and the authenticity of bot-created content must be addressed.

    Building authority and expertise through content requires human touch. While AI chatbots like Chat-GPT can pump out large volumes of content within seconds, they lack in firsthand experience and authenticity. At the end of the day, you’re the expert in experience, not the chatbot.

    Finally, research is one of the more valuable areas I’ve used AI tools for.  Chat GPT is a great portal for generating reasonably comprehensive summary information that tends to sound good, but a layer of fact-checking before a practical application is necessary. The chatbot might make a claim from last month but actually be referencing information from three years ago or something it made up entirely. 

  3. Business Systems & Admin
    Among the most promising categories (in my opinion) is the automation of business systems and administrative tasks. Businesses are fervently working to eliminate expensive administrative layers, aiming to efficiently manage processes through competent human oversight and a team of supportive bots.

    If you wonder whether AI threatens your industry, consider how well-known your processes and procedures are. Are they well-defined, mature, and consistent from project to project?  Are the parameters largely number-driven with a clear logic flow regarding how decisions are made?

    I think of accounting, bookkeeping, and other compliance-related industries being streamlined, significantly reducing the reliance on human intervention to sort and sift through vast amounts of data.

  4. Data Segmentation & Contextual Analysis
    This is where the bots can help us see into the future.  Provided we are working with a high-quality and relevant data set, AI-driven tools excel at revealing contextual insights that may otherwise remain hidden.

    By leveraging data from advertising efforts, user interactions and customer inputs, businesses can harness AI’s predictive abilities to unlock hidden patterns and make more informed decisions.               

Strategic Planning Amidst The AI Frenzy

There’s a saying I learned a long time ago that states, “Pioneering doesn’t pay,” and in many ways, I’ve found it to be true. As the AI landscape evolves, it’s vital to exercise caution and strategic planning to avoid succumbing to the allure of the “next big thing.” 

While taking calculated risks and exploring possibilities is important, curbing enthusiasm and avoiding bias are equally crucial. Careful consideration and cautious implementation will yield more sustainable results in adopting AI-driven tools. 

If you’ve followed this series, you’ve heard our promise to tell you how we use AI tools to save time or enhance our business efforts. Our next segment will unlock the transformative power of AI and walk you through the AI-based applications we use in our daily business. 

See you there. 

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Kyle Dammann

Kyle Dammann

Kyle Dammann is an entrepreneur, venture capitalist, team builder, and automation expert. After a family member fell into a life-threatening addiction to prescription medication and his own experiences with plant medicine, he decided to dedicate his time and skills to legitimizing and accelerating the birth of the plant medicine industry. Kyle believes that access to nature’s pharmacy is a fundamental human right and that all adults should have safe, reliable access to these proven and safe compounds.

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