How To Capitalise On The AI Gold Rush

AI is about to change your world, but

everyone's telling you what to be

fearful of and what to be scared of.

Today, I sat down with Pierce Lenny, an

ex-dragon, a multi-millionaire, and

someone's business I just invested in

because he knows so much about AI, he

can make sure you don't get disrupted.

And instead of giving you a basic list

of AI tools, we're giving you practical

advice on how to make AI work for you so

you can build a one-person business that

runs itself. Let's go. Right. What's the

first thing we need to learn? So

starting with AI the first thing people

forget right is that you've got access

to all human knowledge uh and also the

more you use them the more it learns

about you. So ideas right getting

started it's about you know validating

and ideas essentially so you don't have

all the answers but now you can use AI

to understand everything you can about

you give it context or people forget

this don't just give it one line give as

much context as you can about you your

background your expertise your education

what your likes are your dislikes what

your dream is what interests you what

doesn't what are your strengths and

weaknesses give it everything and then

ask it okay based on this here are my

ideas But what other ideas could there

be that I should be focused on? And then

when you've got a list of ideas, you've

kind of whittleled it down. Okay, start

validating them. Ask, okay, well based

on this idea, how would it execute?

What's the first step? What's the

competition look like? If you're using

AI, you can use any, you can use OpenAI,

Chat GPT Google Gemini Anthropic

whatever works for you, perplexity, but

use them and start then doing the

research. You've got access to basically

a room of PhDs you can send off using

deep research. That's what it's called

to do the research for you.

>> I'm just thinking about the audience

listening to this. My my my instant fear

when I for the audience when I hear you

explain this is they'd be scared to give

away all their information. So I've got

an app called what's your dream? People

can download it on the app store Android

store and you can go and ask it you know

to figure out the dream with you but

we've noticed that people are scared to

put their information in there that what

do you think about that side of it? So

people need to understand okay there's a

fear of where does the information go

okay think of think of as a model as a

as an intelligence a brain essentially

and your context your information your

ideas the research you want it to do

it's using that intelligence to deliver

the results you want okay your idea

isn't going to be sucked into this model

and then disseminated to humanity it's

still private in a way you got to be

slightly careful it's not a lawyer it's

not someone where like a doctor but you

shouldn't be worried about that Right?

This is having access to an infinitely

patient, all knowing sidekick, mentor,

business partner, co-founder, right? And

you've never had this before. Most

people because of these fears or not not

learning to use it properly aren't using

it properly. And if you do, you're

already ahead of the game.

>> Give it information that's going to help

it understand you as a unique human

being and how the ideas and and things

that it could help you make money from

are related directly to you. So if you

do like fishing, tell it.

>> If you do not like crypto, tell it.

>> And make sure that the machine

understands all the data points.

>> Just give it more than you probably

think you need to.

>> Right. Over over explain.

>> Over explain. Okay. Great. All right. So

what next people need to know?

>> So the next one then is so you've got

your you got your idea, you've validated

it or you validated maybe several ideas

because you you haven't quite whittleled

down which one to do yet. The next one

really is strategy and start making

decisions. So by that I mean if you got

your list of ideas, you got your dream

and also you might have one dream but

there might be different ways of going

at it. So you start to whittle down the

strategy and decisions about how do you

start moving it forwards and that

includes things like you know what are

the difficult questions okay um what are

the risks how what what assets do I

need? What how much finance do I need?

How many people do I need? And people

don't often can't do this because most

people have not grown up. I was a banker

and a lawyer and an accountant, you

know, I went to university, all this

kind of nonsense. You don't need to do

that anymore. You can now have literally

and this is why management consultants

as you all know are struggling. You

know, McKenzie's of the world. Okay.

They're kind of going away because now

you have a McKenzie literally in your

pocket

>> and and the decision side. Quickly, just

quickly before we move on, explain a

little bit more about the decisions.

What do you mean by that? So a lot of

people when you're when you're trying to

start a business, okay, it's it's

decision paralysis almost that you think

you well often sometimes you don't know

how to make a decision because to make a

decision you've got to be able to take

information and then analyze it and

based on that process is then pick the

best route. It's never going to be

perfect. Any decision I always say to my

children is better than indecision.

>> But most people struggle to make

decisions. So even now you can spin up a

couple of AIs and say right here's one

customer type and here are three

different customer types so personas

almost and say based on my coffee brand

in your case for this persona what

should it look like what should the plan

be how would I how would I reach them

what would the branding look like so now

you can almost people call it AB testing

you can now A to Z test everything what

that allows you to do then is make a

decision if you can't make a decision

ask the AI to start making decisions for

you quite frankly Because if it knows

you and you've been honest and you've

explained and given it all this context,

it will help you make decisions.

>> I think making decisions in life in

general, people don't actually know.

They get, like you say, too many

options. That's another way of putting

it. They have too many choices and they

don't go and dedicate themselves to one

thing

>> or you haven't got the confidence that

you know enough to make a decision.

Well, now you don't have that problem.

In business often, as you know, it's a

path of least resistance, isn't it? What

this allow you to do is find the path of

least resistance based on the access,

the assets, the guidance you've got.

>> I love it. Okay, so people have come up

with an idea, they've got a a strategy,

they're ready to make decisions based on

that data. Then what?

>> So this is where your favorite subject,

you start to think about, you know,

content and marketing. And by content,

I'd do that in in its broadest form.

Everything from your collateral to to

your brand actually. And then how do you

once you've got an idea, you've got a

plan, you've got a strategy, how do you

let's call this go to market really. How

do you take this product to market? And

that's the thing where let's face it

most venture capital goes in people

technology but a lot of it's gone in

marketing. So the question is how do you

do this but in the most efficient and

optimal way and not thinking you need a

plan where you've got to throw millions

of pounds at something as you know it's

starting small but so now you uploaded

yourself your context you've now

uploaded a plan okay your product what

it is how you want to go to market what

what you wanted to do now you're asking

it okay based on that and all your

access to this knowledge how do I start

how do I take that first step how do I

go to market how do I get my first

customer do I prototype

>> and right Now all of these processes

we're already going through now open AI

can you can use it to do

>> you can use this other thing people get

confused with okay you can use any AI

but the issue is is try and use one

because if you you use lots of them now

you might use different ones to do sort

of make images or video but in terms of

the dayto-day try and use one because

>> you have all your data

>> it's got memory now so it's it's

building this context and memory over

time

>> because if I I want to download all of

my thinking into all of my brain into

one AI and then all these other AIs plug

into it later.

>> So that's where the world's going to go.

So people now worrying about SEO and the

internet, the internet's going away. So

your AI will know everything about you.

It'll know your heartbeat, your mood.

It'll know your your, you know, your

listener what you need for the barbecue

the weekend, what kind of Barbie. It'll

go off and talk to corporate AI. There

going to be no internet anymore. So you

got to think about

>> they'll bring it to you based on your

mood. You need to take vitamin C today.

Here's a couple of links. You know, sort

of

>> links. It'll go and talk to loads of

455,000

supplement AIs that sell supplements and

it'll do a deal. And if you're giving it

authority to actually transact, it'll

buy it for you. So again, with AI, when

you're looking at what your dream is and

starting a business, this mistake people

make, don't perceive the market and the

world you're going to be playing in as

it is today. It's about to change

dramatically.

>> Interesting. Yeah. And content

marketing, people hear it all the time.

So AI, you know, and things like what

Google have done with Vimo3, is it VMO3?

That you can literally come up your

marketing campaigns as well with these.

So they can literally come at your

physical imagery.

>> You can almost make a TV advert quality

uh video these days with audio. You

know, it costs a bit of money to do

that, but the day is coming. You if you

know creative agencies, it's your

background. You can now create any

content.

>> You can conjure anything that's in your

head into reality. So I'm quite

creative. I wave my arms around a lot,

but I'm rubbish at drawing, right? But

now I can have an an idea, a concept, a

video, an image in my head, and I can

literally use one of the many platforms

to conjure that into reality.

>> If I was starting a new agency today, I

think the prompts is where the value is.

So you need to tell these things the

ideas

>> for it to really make something totally

unique. Number four, what's next?

>> So it's the product. And

>> by the way, a lot of this content and

decision and ideas can help you come up

with a product. Now, some people might

come up with a product first. actually

you might want to go through this

process first.

>> Yeah. So I would I would probably put

this here actually. Um so product or the

service. So this is the key to it. Now

often you've got a great idea of what

the product or service is. Now again

when you're starting out in business,

people can be locked into what they

think the product or service should be.

>> So what you can do through you've got

your context, you've got your ideas,

you've got your strategy, you've now

done a bit of market testing. Maybe even

if it's virtual market testing with

virtual personas, you can now start to

test well actually is there a market for

my product and you have this thing

called product market fit and what you

have to do is either change the product

or change the market you're kind of

going after and eventually they align

and that helps you take your product to

market. So with AI you've now got the

opportunity to and this goes from

physical product. I mean I've got a 3D

printer at home. I don't know if you've

got one. I got my I've got my 3D

printer. I love it. And I can I can have

an idea. I can doodle it and there are

platforms you can doodle. It'll turn it

into a 2D image. I can turn it into a 3D

image. I could turn it into a CAD

drawing and I can print the thing.

Literally, you could not do this 6

months ago, a year ago. Prototype

something, a physical product.

>> This is such an important thing for you

guys listening. So many people come to

me and say they want to launch a shoe

brand or a t-shirt brand or you can make

one or two now as samples to even sell

online as a pre-order for example.

Right. So then you've got other product

which are more sort of knowledge

products and that's then a question of

creating lots of different versions of

it and and testing it and triing it and

finding the people you want to sell to

and as we all know people are afraid of

doing this getting in front of them and

getting feedback.

>> Totally. Right. Number five. What's

next?

>> So number five. So you've now got your

product or service. You're using AI to

create decks and collateral and and

documentation. So now you're starting a

business. And now what AI is fantastic

at is automation. So now you got to ask

yourself what are the 10 or 20 things I

need to do every day or every week.

Okay? And this is what I do in my

business is automation. So I look at it

as um this there are three vectors

right. Look at it like this. Variability

something which you you do lots of

different things all the time. Velocity

like lots of data and you then you got

value something really really high

value. So you won't use an AI say call

agent to try and call somebody and sell

them a very expensive product. Okay. But

something is kind of low value, you

will. If there's a huge amount of data,

you'll use artificial intelligence. If

there isn't, you can use yourself or

humans. And if it's variable, you're

doing lots of different things. AI is

not very good at that. It likes like

simple workflows. So, if you've got low

velocity, you've got reasonably low to

midval, and it's not too variable, AI

can do it for you. If you're the

opposite, you should do it. And

everything in the middle, which is a

growing number of things because the AI

is getting better all the time, is where

you augment yourself. So look at what do

I need to do? What is the workflow? What

is the process? And then automate

>> and this is the key to it.

>> This by the way is probably one of the

biggest mistakes people make in business

before AI. They don't make enough

processes. They have they make it blind

on them and then when they're on holiday

the business doesn't work anymore.

>> Or you hire somebody, they they learn

how to get get things done and for

whatever reason they leave and you got

to start again.

>> So now you don't. The beauty is these

people and AIs they never leave.

>> And for making an automated system is

there is there a type of prompt you'd

recommend? I mean I think for a lot of

people let's say for example I I work

with a brand called high level they

automate your email marketing and stuff

like that. So there's tools out there

that are already doing some of this

automation for you but what give me an

example of an automation AI would do as

a practical you know prompt.

>> So there are different types of

automation. Okay. So you mentioned one

there where the place to start is the AI

that your existing application providers

or SAS providers software as a service

providers are providing. So they're

trying to add AI to everything. Okay. So

start there and use that because you're

used to using it. The problem is Simon

is that once everybody's using the AI

within the existing applications, it's

like having been spellch check.

Everyone's got the same thing. So how do

you differentiate? And you differentiate

by doing what you said is you write down

literally no matter how boring you might

find it your processes, your workflows

step by step and you look for AIs or you

can build AI. So you can now take

applications and take AIS and you can

knit them together. You can use

different platforms or lots of them to

bolt together workflows and process. So

write me this and then once you've

written it uh draft me an email and put

the email in my draft. Okay? Managing

your inbox. Lots of things you can do,

but don't try and be too clever. Okay? I

always say start with the things where

AI is good, it's reliable, and it works,

and where there's a return on that

investment for you in terms of time or

money.

>> You can do things which are very clever,

like video production, for example. And

the tech's there, but it's not quite

there yet, but you're going to learn

over time. to focus and automate on the

things that are the most mundane, the

most repetitive that you have to do and

that frees you up and your team to add

more value. So number six really is

about this is your creative support. The

point here really is is to start

thinking, okay, you've got your product,

you you've automated the process. It's

now that iteration, that ongoing process

of testing your product, testing your

marketing, talking to your customers or

talking to avatars of your customers.

You can now set them up as AIS

essentially content collateral writing

and you're an expert at this that

constant iteration which can wear people

down or can become very expensive. So

the archetypal example I think is

copywriting.

>> So no matter what you do, you have to

write something and it might be it might

be emails. You might not be very

confident at writing emails. Now you can

get help doing that. There's no need

anymore to have any uh worry or concern

or doubt about communications or writing

anything and lots of people fearful of

that. So creative marketing now becomes

actually extremely powerful. But as you

were saying the key here is is to learn

how to use AI. You can have the best

copywriter or the best business email

writer or letter writer in the world on

your desktop at your fingertips. It's

also creative empowerment really. You

might not be a creative. Okay, you might

not be very good at mathematics but now

you can be. So whatever you thought you

weren't particularly good at, you now

can be. And what this does, I think it

empowers people, gives you the

confidence. This is why I think everyone

can become an entrepreneur because this

whole uh AI world is now giving you all

these tools. You don't even need to come

up with the ideas anymore and then the

system will tell you how to do it.

That's why I think the whole world is

going to have to become an entrepreneur

as well because a lot of jobs are going

to get taken away from people to

>> I think the gig economy is coming for

all of us.

>> We talked about this a lot. So every

organizations don't want employees

anymore. They want people to be there

for discreet projects and to go on in

life whether it's your business or even

your career. You've got to be an

absolute monster, a killer at using this

technology. Otherwise, you won't be able

to differentiate yourself.

>> Seven. Let's keep going because it's

blown my mind.

>> Seven now is the big one. So, analytics.

So, now you're motoring, got your

business, you you feel empowered. You've

got AI helping you automate the mundane.

But what it's really about is and and

this can be analytics, metrics, how much

money you make, whatever you want to,

and insights as well. So the way I look

at this

is like this. Imagine you're a soldier

looking across a field. It's dark you

and then suddenly someone gives you

night vision. You look across that field

and you can see things now that they

can't. That gives you a competitive

advantage and it means you can react to

it. The thing is you can now use all the

data you have. I don't care if you've

got a corner shop. I don't care if you

got a oneman person. You're doing you

know jet washing people's drives. You

can now look at data across an area,

your customers, where they are, how much

they earn, what you should be doing, how

your website's working or isn't as the

case may be.

>> Use AI to give you your night vision

into data. That's competitive advantage.

And this now is something that only big

companies could do. Anyone can do it

now.

>> So, just as a business example, so when

uh we bought the house we're in now, my

wife looked at all the crime rates in

different areas and worked out that this

street was the lowest crime street in

Britain. one of the lowest crime streets

in Britain and that made her want to buy

the house. Now I don't see anybody say

for example in the property industry

giving those sorts of insights into when

you buy a property like the house is

nice that you know maybe the bedrooms

are nicely done the bathrooms are good

but if you could get AI to tell you that

the crime rate and you are selling

houses in the lowest crime rate location

for example in Britain you can start to

use these insights and analytics to be a

completely different type of business

>> thing is that the the existing business

owners often they're doing what they do

the way they've always done it and

they're stuck in their way

>> and they're using AI to try and protect

what they've been doing the last 10 50

years or even longer. Now there's an

opportunity just to look at things

completely differently and don't just

tweak around the edges what everyone

else is doing. Just think how do I build

an AI first business like you just said

there. You might find the property

websites they could do this very very

well.

>> So always think AI first.

>> Every single business can be disrupted

if you even if you just use this part of

this video and got every single business

that already exists and started thinking

about it with AI analytics first. You

could probably beat most companies

today.

>> And what's amazing is this is what blows

my mind. We've done this for a customer

in the um healthcare sector. So you got

the known knowns, things you know you

need to know and you kind of know you

learn it. Okay. Then you got the known

unknowns, things you need to go and look

at and research. But AI is fantastic at

the unknown unknowns. Okay. You can just

give it a data set and say based on

everything you know about me, based on

my plan, based on how things are going,

just tell me something I don't know. And

it will look at the data and say did you

know that these customers are buying

this if you do this this many times? You

I never knew that. Mhm.

>> And then you can double down on it.

>> Okay. Number eight,

>> big one. So this is the kind of thing

that a lot of people look for, people

reach out to you for. So you've got your

business, it's going, you know, you got

your analytics, you're selling things,

>> but now what? It's that it's that

confidence, you know, the imposter

syndrome sometime when you start to do

well, the mentor, the support. And

>> I use people think I've got all the

answers, right? I don't. I use my AI as

my own infinitely patient mentor

>> uh and sidekick. And the beauty of these

things is they're never going to second

guess you. They're never going to judge

you.

>> Where does the data source come from the

mentoring? Because that's by the way why

I built my app because I want people to

know it's come from me, but where does

the data

>> so yours is a great example. So your

your app is you. So you can now mentor

as Simon Squib. Um but what you've done

here going from 1 to seven, think of

just think of the amount of data this AI

has now got. Now, this is your business

at the same time. I mean, mine's got my

ECG.

>> So, you're giving me a date about your

business, but also about your personal

life. I talked to about, you know, some

personal things sometimes, just ideas.

What do you think about this or the

children or how do I get my kids for the

GCSEs?

>> It's like a secret diary. I want to read

it now. I want to read all your prompts

or questions. You don't want to read it.

>> You definitely don't. So, so all that

context about you is now okay. Well,

given the support and don't forget this

has got access to all human knowledge

about most subjects. So again, when you

go through all of this, you know, AI can

change your life, but don't completely

cognitively offload,

>> right?

>> You've got to be using your the wet wear

in our heads. But with mentoring though,

it's like any mentoring is that it's

really about the context, asking it

questions, and then like any mentor, you

just said there, I've seen that as well,

is you know, you don't just run off and

go and do whatever is said. You're

taking in data and information and the

mentor might give lots of ideas and you

can apply analytics and insight to it to

actually check what the mentor is doing.

You can actually use I've done this

quite a lot. You use two different AIs.

>> So say what they're saying.

>> Here's the context versus

>> yeah now you can't all this context

maybe but you can give us some ideas and

say what do you think about this advice

or this as you set up as a mentor.

>> So number nine what's next?

>> So number nine is really is now it's the

innovation isn't this? People talk about

AI that's out there and it is and it's

dial up internet. Okay, it's going to

get a lot better. But now with the this

technology is moving very very quickly.

I always say we're living in an

exponential world now. People are still

thinking in a linear fashion. So if you

can just change your mindset actually

it'll make a big difference. But then

use this then say okay my product's

doing this and it might be doing you

know two three five 10 grand a month

already whatever it is. Do I grow that

business? Do I tweak it? Can I innovate?

How do I develop it? or do I start

another business and it might be

completely different but it might be

adjacent as well. So start to use it to

sort of innovate as well because one

thing you can't do in the world in which

the world we're living in very very soon

>> is less than your laurels and stop you

always have to keep moving. I I gave a

talk to my um daughter's um business

studies class A level students and Btech

in the UK they're all about 17 whole

class said who's using AI and most

people put the hand up. I said what for

talking to your friends having a laugh

they all kept the hand up. Who's created

an image? One person puts a hand up.

Probably my daughter actually. Who's

created a video? Nobody. So very

quickly,

>> the the skill set AI drops off very

quickly.

>> You just got to jump on and do it.

>> Yeah. You you've got to become an

absolute expert.

>> I I also think with the innovation

thing, I would tell everybody

>> that they should imagine a world where

everything you think is normal no longer

exists. So for example, people think

websites are going to be around forever.

I'm already seeing where straight away

people are just going straight on Tik

Tok shop and selling. We can already see

this, right? They don't have a website.

They go on Tik Tok shop and they sell on

Tik Tok. There's no website. So, I think

we need to realize how much change is

about to happen and you can start

imagining. Imagine, you know, write your

own like crazy new world and build a

business around it. So, what's the last

one? What what do we not want to miss

out on?

>> So, the last one really is so your

business starts to grow. Um, I always

say use AI first of all personally. You

use a bit of an expert yourself in your

organization. new starters do all these

things especially this one here which is

automate but the last one really is

about an optimal organization AI first

organization and productivity you know

in my business we have a we have our

strap line is this grow your workforce

not your payroll

>> so here you can have it's the infinite

team

>> what's the name of your business by the

way just script

>> implement AI

>> I've just invested in his business so

just disclaimer there I've invested in

it because it's brilliant and I I I will

put a link down below if anyone wants to

find out more

>> so implement AI. Um, but this is the

infinite team. Okay, you can now it'll

just be you. But once you know what

you're doing, you've the validation, you

got the plan, you've automated, you've

tested it, you've done the analytics,

you know, you got the mentor and

support, the confidence, you know how to

innovate. Now it's a question of scaling

up. And when you scale up, most

businesses have the issue of as your as

your revenue grows, your costs just go

with it. In the worst case, your costs

actually they increase. In AI,

>> most people are raising money because

their costs are more than

>> doing that, isn't it? In AI, you want to

basically disengage the two. So your

costs hardly move, especially people,

but your revenue grows. And that gap in

the middle is profit, dividends, wealth

creation.

>> Yeah. So if I if I want to be more

productive, let's take my business, what

I'm doing, h what would I do? How would

I be more productive?

>> So I guarantee you said it actually. I'd

guarantee if we even if we sat down

together and went through everything you

do and you you wrote down literally the

processes the workflows and you look at

you say where in there can I use this

technology today or it's nearly there in

say 6 months where can you to automate

some steps now you don't want to auto

you've got 10 steps say you don't want

to automate one and 10 because there's

all humans in the loop in the middle you

want to automate one to three 3 to 7 to

10 but try and automate as many steps in

workflow as you can and the other point

is which you might find if you look for

your businesses is don't just try and

automate and and everything the way

you're doing it today.

>> So, I'll give you an example. So, we had

a a recruitment company. They recruit um

kind of, you know, builders, joiners,

brick layers, you know, roofers for

construction companies. They've got

200,000 people in their database. Got a

room of about 10 people making calls all

day. Are you available for work? Only

cover 5,000. Our made 3,000 phone calls

in 3 hours. contacted 500 people and

found 50 that will work.

>> Wow.

>> But they would never think like that

because they've never seen it

>> and yet the existing system works as far

as they're concerned on that.

>> So once you understand all of this, you

got to start thinking about productivity

wise how to use AI in ways that other

people aren't.

>> When I come to productivity, I always

like Yeah, there some tools aren't there

yet. By the way, there's this tube ad

where the company did.

>> Yeah, I won't mention the name, but I

think that's one way of going. Yeah, I

mean because but it was basically the

tube ad was um

>> don't hire humans and I was about to say

it and I think it's their ad that got in

my head. That is kind of a scary point

around this, isn't it? Because

productivity does like you say doesn't

increase cost but increases your

revenue. So more people need to do this

>> so that as they don't get hired coming

out of university for this, right?

>> Cuz so we said it before the gig economy

is coming for all of us.

>> So if you're not being hired, you got to

find a way of working for yourself. hire

yourself and you have to and I know it

feels scary but if you learn all of this

stuff if you apply it even one of these

things get deep into understanding one

of these things then you won't need

someone to hire you you'll have your own

business and someone will want to hire

you because you know how to do one of

these things

>> so if you can do all of this even if you

end up working for somebody for a period

of time you are going to find yourself

in in gainful employment

>> yeah we have to save humanity and this

is one way uh give them the tools to

have a better life I hope you enjoyed

that guys We're now off to have some

chicken, but you can subscribe to this

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