3 tips to starting a business using artificial intelligence

There are several aspects to consider when an entrepreneur who is in the process of creating a startup or business also uses technological elements such as Artificial Intelligence (AI), said Roberto Hernández, a researcher at the Tec de Monterrey’s AI Hub.

In his opinion, they should take into account factors that go beyond the business proposal or the technological application, such as the impact or repercussions on the environment.

He explained that these comprise criteria to anticipate the impact or repercussions of the startup or enterprise. “An increasing number of solutions that use this technology are required to solve different issues,” he said.

And he pointed out that, “Even though it seems that AI is already everywhere, there are still many areas of opportunity.”

Integrating different capabilities

The AI expert gave 3 tips to entrepreneurs whose business proposals use this technology:

1. Accurately analyze the problem to be solved with AI

The AI expert highlighted that, “There are many fields in which AI can help to systemize or streamline business processes.

“Whether by offering solutions to specific problems or by specializing in streamlining organization processes, depending on the entrepreneur’s vision.”

“It’s necessary for the team to know what we mean when we talk about ethics in technology development to prevent and identify potential risks.”

That’s why he stressed the importance of identifying and outlining the issue. “We have to know what it is we want to solve with technology, to see if AI can solve those problems.

“Alternatively, we should experiment to see if we’re not forcing the problem toward a technological solution, whether or not that is with AI. It’s often not required, as it could be just programming or data science.”

He said it is important to understand the problem they want to address. “See if the technical developers have the knowledge or identify the problem and join forces with others to find a solution together.”

2. Form a multidisciplinary team

Hernández claimed that if entrepreneurs only focus on specialized technical teams, they are leaving aside everything to do with marketing and developing a model for the business that’s in the process of growing.

“They must be skilled in technical development and sensitive to the problem that needs solving, the issue that the startup or business is addressing. But they should also find a way to communicate the product or service’s main message.

“They must know how to communicate and sell that technology. Often, because it’s something that is very new, it isn’t that easy to communicate it or generate potential sales, through adequate connections with potential customers,” he explained.

He added that he’s detected the need to build integrated teams based on his experience in the process of incubating proposals for the Artificial Intelligence Startup Acceleration Program (PASIA), as part of the fAIr LAC Jalisco initiative.

“It’s about searching for different perspectives and integrating elements of the environment into the use, promotion, and sale of the products and services in question in terms of technology,” he said.

3. Integrate ethics into decision making

Hernández said that it’s key for the Tec’s AI Hub to integrate ethics into the development of this type of technology, from the very conception of the startup or business.

“We start thinking about technology solutions without thinking about the ethical implications it may have, or the impact on privacy, for example, on people’s digital or human rights.”

“It’s necessary for the team to know what we mean when we talk about technology development and ethics to prevent and identify potential risks,” he added.

To this end, the Tec’s AI Hub has specific programs or workshops which include these aspects so that entrepreneurs may have the available tools and access to various resources.

It’s not too late for AI with ethics

Roberto Hernández stressed that there are more and more developers with a vision to create companies or position solutions in the market.

“Those who have AI knowledge don’t necessarily have the complete picture of how it will affect the market or environment.

“There are times when the person who determines the problem that needs solving doesn’t have the technical knowledge. It has to do with the entrepreneur’s context,” he highlighted.

Finally, he concluded that “It’s not too late think of products or services that use AI, since it will definitely be more necessary in the future and will require the involvement of productive sectors.”

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