At the recent SXSW, tech-savvy billionaire Mark Cuban has some words of wisdom for small business on how they can integrate AI to beat the competition but also cautions them to not completely rely on it.
Mark Cuban Advises Small Business on AI
Most of us know Mark Cuban from the popular business reality show Shark Tank and he is the owner of the Dallas Mavericks team. He is very popular among budding entrepreneurs and small business owners for providing practical advice to scale their businesses.
At the recent SXSW in Austin, Texas, Mark was invited on a panel to discuss the need and growth of small businesses.
1) AI is Changing the World
Mark Cuban wants every business to take note of how it’s changing the world we live in:
“AI is changing everything, and you can make a decision to say, oh, my business is just running. I don’t need to worry about it. Or you can say, wow,this is an opportunity. I can be more competitive. I can take advantage of itand create new opportunities. I don’t have to do things the way it’s always been done.”
Cuban’s advice highlights a crucial mindset shift for businesses. Instead of fearing AI, businesses can start small: using AI chatbots for customer queries, AI-driven analytics to optimize sales, or content creation tools to streamline marketing.
2) Spend Every Minute Learning AI
When asked about what advice Mark wants to share for the next generation of entrepreneurs, here’s what he said:
“If I was starting today, would spend every wakingminute learning about AI. Not even if I’m sleeping. I’m listening to podcasts talking about AI. … My whole Instagram and TikTok feeds are now hacks because there’s that much changing that rapidly. And so it’s one thing tohave a business and how you integrate AI, that’s one thing. But if you’re just getting started right, as you learn these things, it’s so much easier to start.”
The key point for you is to at least start checking about AI developments via your social media. You can search for #ArtificialIntelligence on instragram, like 3-4 posts, and soon, your feed will have many posts about latest AI tech. This way, you are becoming more aware about AI without putting in extra effort or changing your daily routine. It’s an easy hack!
He also specifically about NotebookLM by Google. This AI Tool can transforms research notes into AI-generated podcasts. So, now you can learn anything in your favorite format. You don’t have to read book or watch tutorials, you can get information by listening to a podcast, which you can listen while exercising or travelling.
3) AI is a Tool, not an Answer
At last, he also guided anyone starting their business to not think AI as a one-stop solution:
“Let me just add this, AI is never the answer. AI is the tool. hatever skills you have, you can use AI to amplify them. That’s right.Whatever intelligence you have, whatever intellectual property you have in your mind, you can use AI as a way to clean out. …But not using it means somebody else is going to be amplifying their skills. And that could be the difference between, you know, getting ahead of you or not.”
Cuban specially mentioned how AI can’t just write great scripts or create awesome videos. But if you have the skills and knowledge about that, you can use AI to make your work easier and faster. Otherwise, your competitor will do that.
So, learning AI will not make anyone instantly successful, but it will open new doors and keep you ahead of your peers.
You can watch the full keynote here:
Takeaways
Incorporating AI into your business strategy isn’t just a trend—it’s becoming a necessity. By embracing AI, small businesses can innovate and stay competitive in an increasingly digital world.
A Tool, Not a Replacement
Importantly, Cuban views AI as a tool to augment human capabilities, not replace them. He cautions against relying solely on AI, emphasizing the irreplaceable value of human creativity and critical thinking in business. citeturn0search4
