Mark Cuban, the self-made billionaire owner of the Dallas Mavericks, is now encouraging small businesses to learn AI.
Cutting edge applications of Artificial Intelligence are seen on display at the Artificial Intelligence Pavilion of Zhangjiang Future Park during a state organized media tour on June 18, 2021 in Shanghai, China.
Since artificial intelligence entered the mainstream tech market, numerous tech firms have started implementing AIs into their services and products.
These include Google, Meta, Adobe, etc. But, some companies are still reluctant to use AI models.
Now, Mark Cuban explained why businesses, especially SMEs (small business enterprises), should learn how to use artificial intelligence.
Mark Cuban: Learning AI is a Must for Small Businesses
According to Forbes' latest report, Mark Cuban explained why small businesses should learn about AIs.
Dallas Mavericks Mark Cuban smiles during the game between the New York Knicks and the Dallas Mavericks at Madison Square Garden on January 30, 2019 in New York City.NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement.
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The billionaire talked about this topic during the previous Mackinac Policy Conference.
The tech tycoon said that small businesses must start educating themselves about artificial intelligence if they don't want to get left behind in the competition.
"You have to understand how AI is going to impact your business," said Cuban.
He added that small businesses need to have enough curiosity to encourage themselves to learn how to use artificial intelligence models for their benefit.
Companies Great With AIs and Those That Aren't
Fortune reported that Mark Cuban believes there will be two kinds of companies in the future.
He said these companies are great at AI models and those that aren't.
He clarified that businesses don't really need to be good at using artificial intelligence. But, they must have enough understanding about it.
"It's just like the early days of PCs. You didn't have to be good at PCs, but it helped. Then networks, then the internet, then mobile," explained the self-made billionaire.
How AI Can Benefit Businesses
Most generative and other AI models in the industry can really make human tasks easier and quicker. This means that they can benefit both small and big businesses.
Harvard Business Review provided the three ways in which AI can help small and big businesses.
- Artificial intelligence can offer a better customer service experience.
- AI can formulate better marketing strategies.
- Artificial intelligence can generate more engaging content.
You can click here to learn how AI benefits numerous companies.
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