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Avinash Mada
2 Feb 202408:41

TLDRThe speaker shares their experience of leveraging AI tools to enhance productivity and competitiveness in their business, achieving significant revenue growth. They highlight the potential for AI to disrupt various white-collar jobs and emphasize the need for upskilling in AI to avoid job loss. The speaker also mentions their initiative of offering free masterclasses to help people worldwide prepare for the AI-driven future.

Takeaways

  • 🤖 The speaker employs 14 AI tools to achieve the work output of 50 employees, enhancing efficiency and reducing costs.
  • 💰 By embracing AI, the speaker's business has been able to compete with larger businesses, resulting in a revenue of 2025 lakhs and the potential to scale to two crores.
  • 🏆 The speaker is recognized as one of the youngest achievers in the country, attributing part of this success to the effective use of AI.
  • 📈 The company experienced a significant revenue boost in the first week of May 2021, amounting to 25 lakhs, with many clients involved in cryptocurrency.
  • 🚀 The impact of AI was so profound that after a period of disruption, the company's monthly revenue stabilized at 2 to 4 lakhs within six months.
  • 🌐 There is a predicted wave of AI upskilling in the next 7 years, which may lead to job losses across various white-collar job categories.
  • 🔄 80% of programmers perform basic tasks that could be largely replaced by AI, as they follow standard operating procedures and rely on tools like GitHub and Stack Overflow.
  • 🇮🇳 In India, a large portion of the service industry is composed of basic developers, which makes them vulnerable to being replaced by AI.
  • 🌟 The speaker emphasizes the importance of upskilling in both one's primary industry and in AI to ensure a better future in the face of automation.
  • 🎓 The speaker conducts free Master Classes to help individuals update their skills and stay competitive in the AI-driven job market.

Q & A

  • How many employees does the speaker have in their companies?

    -The speaker has approximately 14 employees in their own companies.

  • What impact does the use of AI tools have on the speaker's business?

    -The use of AI tools allows the speaker's employees to work with the same effort and resources as if they had 50 employees, enhancing productivity and competitiveness.

  • What is the additional cost associated with employing AI tools?

    -The additional cost for employing AI tools is approximately $50 extra per employee, which includes tools priced at $100, $50, or $10 each.

  • How does the speaker's revenue compare to other businesses not embracing AI?

    -By embracing AI, the speaker's business is able to compete with larger businesses and has made a revenue of 2025 lakhs, a significant advantage over non-AI embracing competitors.

  • What was the revenue made by the speaker's company in the first week of May 2021?

    -In the first week of May 2021, the speaker's company made a revenue of 25 lakhs.

  • How did the cryptocurrency trend affect the speaker's clients in 2021?

    -A significant number of the speaker's clients were into cryptocurrency, which likely influenced their business strategies and revenue streams in 2021.

  • What was the speaker's monthly revenue after being introduced to AI?

    -After being introduced to AI, the speaker's monthly revenue was between 2 to 4 lakhs.

  • What does the speaker predict about the future of jobs in knowledge-based fields?

    -The speaker predicts that there will be a significant job loss in knowledge-based fields due to the impact of AI, as many jobs can be automated.

  • How does the speaker describe the skill level of the majority of developers?

    -The speaker describes the majority of developers, about 80%, as very basic, mainly following standard operating procedures and not requiring advanced skills.

  • What advice does the speaker give to developers and professionals in the service industry?

    -The speaker advises developers and professionals to upskill in their industry and in AI, using the right tools like Char, GitHub, and other AI tools to ensure a better future and to avoid being replaced by AI.

  • What initiative is the speaker taking to help people update their skills in AI?

    -The speaker is conducting free Master Classes for almost 40,000 members across 25 countries and five continents, every Saturday for three and a half hours, to help them update their skills and succeed in the AI era.

Outlines

00:00

🤖 Leveraging AI for Business Growth

The speaker discusses how the integration of AI tools has significantly increased productivity in their companies, allowing them to compete with larger businesses. With 14 employees and AI assistance, they've managed to achieve a revenue of 2025 lakhs and potentially scale to two crores. The speaker also mentions being recognized as one of the youngest achievers in their country and highlights the importance of AI in the current business landscape. They emphasize the transformative impact of AI on various industries, predicting job displacement in many white-collar sectors due to the capabilities of AI tools.

05:05

🚀 Addressing the AI Skill Gap in India

The speaker addresses the prevalent issue of a large percentage of coders in India having very basic skills, which are easily replaceable by AI. They point out that 80% of programmers perform standard operating procedures and lack innovation, unlike the top 20% who make critical decisions. The speaker criticizes the service industry in India for not fostering product-based innovation and instead serving other countries' innovators. They stress the urgent need for upskilling in both traditional fields and AI to avoid massive job losses. The speaker also shares their initiative of conducting free Master Classes to help people update their skills and stay relevant in the face of AI advancements.

Mindmap

Keywords

💡AI tools

AI tools refer to artificial intelligence software applications that automate tasks, analyze data, and make decisions to improve efficiency and productivity. In the context of the video, the speaker uses 14 AI tools to enhance their employees' work output, reducing the need for a larger workforce and increasing revenue. This demonstrates the transformative impact of AI on business operations and competitiveness.

💡Revenue

Revenue is the income that a business receives from its operations, such as sales of goods and services, before any expenses are deducted. In the video, the speaker highlights the significant increase in their company's revenue due to the implementation of AI tools, which allowed for more efficient use of resources and effort by the employees.

💡Compete

To compete means to strive to be more successful than others in a particular area, often by offering better or cheaper products or services. In the video, the speaker emphasizes that by using AI, their company is able to compete with larger businesses that may not have yet embraced AI technology.

💡Cryptocurrency

Cryptocurrency is a digital or virtual currency that uses cryptography for security and operates on decentralized networks, such as blockchain technology. In the video, the speaker mentions that many of their clients are involved in cryptocurrency, indicating a specific industry sector where AI and its analytical capabilities could be particularly beneficial.

💡Disruption

Disruption refers to a process that displaces established ideas, businesses, or technologies, often causing significant changes in industries. In the context of the video, the speaker discusses how their business was disrupted, likely due to external factors like market changes or technological advancements, but AI helped them recover and improve their operations.

💡Upskilling

Upskilling is the process of improving one's skills or learning new ones to enhance employability or career progression. The video emphasizes the importance of upskilling to be AI-ready, suggesting that individuals and businesses must adapt to the changing job landscape brought about by advancements in AI.

💡Job loss

Job loss refers to the reduction of employment opportunities or the elimination of jobs, often due to technological advancements, economic changes, or other external factors. In the video, the speaker predicts job loss across various fields due to the increasing capabilities of AI, which could replace human labor in many tasks.

💡Developers

Developers are professionals who create, test, and maintain software or applications. In the context of the video, the speaker discusses the potential impact of AI on developers, suggesting that a significant portion of them may need to upskill or face job displacement as AI becomes more capable of performing their tasks.

💡Service industry

The service industry encompasses businesses that provide services rather than physical goods. In the video, the speaker points out that India belongs to the 80% of people in the service industry who may be affected by AI, as their roles often involve basic tasks that can be automated.

💡Free MasterClass

A Free MasterClass is an educational program offered without charge, often led by experts in a particular field. In the video, the speaker mentions conducting a free MasterClass with almost 40,000 members across the world, highlighting the global interest and need for AI education.

💡AI expertise

AI expertise refers to a deep understanding and skill set in the field of artificial intelligence, including knowledge of algorithms, machine learning, and data analysis. In the video, the speaker emphasizes the growing demand for AI expertise in the job market, suggesting that up to 50% of knowledge-based job holders will need such expertise in the next seven years.

Highlights

The speaker has 14 employees and uses AI tools to maximize efficiency.

AI tools enable the speaker's employees to work with the same effort and resources as 50 employees.

The cost of AI tools is approximately $50 extra per employee.

Embracing AI allows the speaker to compete with larger businesses and achieve significant revenue.

The speaker's company made 2025 lakh of Revenue due to AI implementation.

The speaker is considered one of the youngest achievers of the country.

In May 2021, the company made a revenue of 25 lakhs in the first week.

Many clients of the speaker are involved in cryptocurrency.

The speaker's team was disrupted for two months during the pandemic.

After introducing AI, the team's monthly revenue recovered to 25 lakhs within 6 months.

AI is expected to cause a wave of job loss in various fields, including white-collar jobs.

Upskilling to be AI-ready is crucial for the future.

90% of the technical support team was replaced by an AI, saving $2,000,000 monthly.

80% of coders perform basic tasks, which can be automated by AI.

India has a large service industry workforce that may be affected by AI advancements.

The speaker conducts free Master Classes for upskilling in AI, reaching 40,000 members worldwide.

Upskilling in AI is necessary to avoid being replaced by AI in the future.

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