Author Post: Catch The Next Big Tech AI Wave: Startups Flock To OpenAI’s Chat GPT And DALL-E

In the 2020s, a new wave of technology is emerging, one with the potential to unleash creativity and innovation on a scale never seen before. Startups are flocking to OpenAI, the company behind the revolutionary language processing engine Chat GPT and the powerful image generator DALL-E. Billions are beginning to flow in, as Microsoft recently announced a 10-billion-dollar investment and Google has begun to redouble efforts in the space. These powerful cutting-edge tools are poised to disrupt industries and create immense wealth for those founders that embrace them.

How?

In short, both Chat GPT and DALL-E are already being used to improve productivity, save time, and even generate creative ideas. In a recent Startup Club room hosted on Clubhouse, founders shared how they were using these technologies to improve their businesses. Some talked about how Chat GPT helped them improve their emails, blogs, and sales scripts, while others discussed how DALL-E saved them hours of time manipulating images.

The most exciting thing about Chat GPT is its surprising creativity. In one session, a 20-year marketing veteran was asked to come up with a tagline for the club, and while her suggestion was good, it was a bit long and not particularly memorable. But when Chat GPT was asked to deliver five taglines, it came back with some truly catchy options, including “Fuel your Startup Journey.” A tagline the club is considering adopting.

In a conversation with a comedian, we asked the bot to write a comedy routine about someone using their smartphone in the bathroom, and to our surprise, it generated a hilarious routine describing scenarios only someone who has used a phone in the restroom would understand. The comedian was so impressed, he decided to run all his current routines through the engine to see if it could improve them.

The ever-evolving landscape of technology is a tale as old as time. As a young adult fresh out of college in the early 1990s, I witnessed the advent of the Internet and the opportunities it presented for enterprising startups to revolutionize industries ranging from e-commerce to software downloading. The advent of broadband in the early 2000s opened the door for the rise of cloud computing, spawning a new generation of tech titans. And the 2010s brought about the proliferation of smartphones and social media, democratizing the means of communication, and enabling individuals to become powerful influencers, giving rise to a plethora of app-based startups.

As the technology landscape shifts once again with the emergence of powerful tools like OpenAI’s Chat GPT and DALL-E, startups are scrambling to find ways to leverage these cutting-edge technologies to gain a competitive edge. During this frenzy, many entrepreneurs are turning to the wisdom of industry veteran Geoffrey Moore, author of Crossing the Chasm and Inside the Tornado. Startups that can navigate the “tornado” of new technology adoption stand to reap significant rewards. “The tornado is a highly unstable and unpredictable market phenomenon that is caused by the rapid acceleration of a new technology or market category”. He emphasizes the importance of speed to market.

Based on my experience in this stage, those who can ship the fastest and those that can make it easy for customers to use or buy their services are positioned to win in a tornado.

This emphasis on speed and agility is especially critical in the early stages of product launch when the market is still in a formative stage and competition is less established. As startups race to harness the power of AI and other cutting-edge technologies, those that can move quickly and efficiently will be the ones that ultimately come out on top.

With the advent of Chat GPT and Dall-E, members in our incubator were prompted to ideate what kinds of products and services could be launched based on this new technology. Dozens of ideas were thrown up on the white board and within weeks one already had come to market.

As the 2020s unfold, it’s becoming increasingly clear that AI has the potential to generate significant wealth for those who can harness its power. Whether you’re a startup founder looking to streamline your operations or a tech entrepreneur with a new idea, now is the time to dive in and explore the opportunities that AI has to offer. From automating routine tasks to identifying new revenue streams, AI is poised to play a transformative role in the startup world. And as the pace of innovation continues to accelerate, those who can capitalize on this technology will be well positioned to reap the rewards.

And if you’re not sure what type of startup to launch, you can always just ask Chat GPT.