“Shark Tank” star Kevin O’Leary sees a variety of pitches from entrepreneurs, particularly in AI. And he is all in on the know-how — the enterprise capitalist announced in December that his agency, O’Leary Ventures, is creating the “world’s largest” AI knowledge heart industrial park referred to as “Marvel Valley” (little question a nod to his “Mr. Fantastic” nickname) in North West Alberta, Canada.
So how can an entrepreneur stand out in a crowded AI discipline?
“I feel one of many huge startup alternatives being missed proper now could be training people on AI,” O’Leary said on Instagram, including that entrepreneurs shouldn’t ignore the service enterprise trade when trying to begin a enterprise.
“AI has such nice potential, [but] most individuals do not know the best way to use it, that is the important thing,” O’Leary mentioned.
Associated: 91 Service Business Ideas to Start Today
According to Indeed, a service enterprise is an organization that performs duties for the advantage of its prospects, together with “transportation, cleansing, touring, hospitality, upkeep or consulting.” These companies promote a service, relatively than a product.
O’Leary mentioned that if a service business can take “the ache level out of somebody’s studying time,” then it may be very profitable. On this case, getting somebody “to truly use AI” could be a enterprise win, he mentioned.
“Service companies could make a ton of cash if they’re efficient,” O’Leary mentioned.
In accordance with knowledge printed in January 2024 from the U.S. Census Bureau, the estimated income for companies industries increased almost 10% within the two years prior.
“It is large,” O’Leary mentioned.
