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5 Altitudes of AI in Business with David DeWolf

David DeWolf is the founder and CEO of Knownwell, an innovative startup that is reimagining the way organizations are run in the era of AI.

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Guest Resources

Known Well – Check out and see the path to exponential profit growth.

AI Know How Podcast – Listen to how to apply AI to your business.

David DeWolf Website – Visit David’s website. Live and Lead With Principle.

Knownwell Client Intelligence Beta Waitlist – Join the beta waitlist to get early access.

Knownwell’s Free AI Readiness Assessment – Assess Your AI Transformation Readiness.

3 Value Bombs

1) Achieving success can be a formidable task without a basis in prayer.

2) AI, the most transformative technology, can either diminish or enhance humanity.

3) Commit to spending dedicated time each week, around 15 minutes, to read and listen to AI-related content, ensuring you stay well-informed about the technology.

Sponsors

HubSpot: With the HubSpot for Startups program, you can save 30-90% on a platform that scales right along with you! To see if you’re eligible to join the HubSpot for Startups program and take your growth to the next level, visit HubSpot.com/startups!

NetSuite: Download NetSuite’s popular KPI Checklist absolutely free – designed to give you consistently excellent performance – at NetSuite.com/fire!

Ziprecruiter: Let ZipRecruiter help you conquer the biggest hiring challenge: finding qualified candidates. Just go to this exclusive web address right now to try ZipRecruiter for free! ZipRecruiter.com/fire.

Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS:  5 Altitudes of AI in Business with David DeWolf

[1:12] – David shares something he believes about becoming successful that most people disagree with.

  • He believes that achieving success can be a formidable task without a basis in prayer.

[2:12] – Why and what did you learn from working at 3Pillar for over 16 years and transitioning to a new opportunity?

  • After 16 years as an entrepreneur and CEO, David’s journey was incredible but became all-consuming.
  • His initial purpose was to create a work environment where employees could excel professionally and have fulfilling personal lives. However, he realized he was not living that ethos himself.
  • In the final months, exhaustion set in as he took on more responsibilities. A significant wake-up call occurred when he could not focus on playing Legos with his son, finding himself constantly drawn back to work.
  • He decided to take a break in 2023 to refresh and recharge, especially with his two oldest kids getting married. It was a fantastic year of renewal, travel, family time, and grounding himself.

[4:47] – What motivated you to start something new?

  • When he left 3Pillar, he was unsure what to do but knew he needed space and time.
  • After about two months, he realized he had been wearing blinders for 16 years, seeing everything through the lens of 3Pillar.
    • Experimenting with board seats and consulting, he discovered that leadership and being part of a team were fulfilling, and retirement did not suit him.
  • He started hearing conversations about AI in a new light, realizing there were exciting and unsolved challenges aligning with his purpose.
  • This led to his excitement about returning to an operating role, focusing on AI, and aligning it with his life’s purpose after his daughter’s wedding.

[7:16] –  What was the opportunity you saw, and why was it so compelling?

  • As AI gained attention, David noticed three main conversations.
    1. The focus was on technology with significant investments but limited impact on daily life.
    2. About applying AI to enhance personal productivity, streamlining tasks like writing code
    3. How AI would transform business operations.
  • Amid fears and questions, solutions and vision were lacking. This gap excited him because he loves using technology and business to uplift people.
  • AI, being the most transformative technology, has the power to either diminish or enhance humanity.
  • David feels a calling to be in that space, guiding AI adoption in businesses to ensure it elevates people’s lives rather than diminishes them.

[10:50]- A timeout to thank our sponsors!

  • HubSpot: With the HubSpot for Startups program, you can save 30-90% on a platform that scales right along with you! To see if you’re eligible to join the HubSpot for Startups program and take your growth to the next level, visit HubSpot.com/startups!
  • Ziprecruiter: Let ZipRecruiter help you conquer the biggest hiring challenge: finding qualified candidates. Just go to this exclusive web address right now to try ZipRecruiter for free! ZipRecruiter.com/fire.
  • NetSuite: Download NetSuite’s popular KPI Checklist absolutely free – designed to give you consistently excellent performance – at NetSuite.com/fire!

[13:47] – The five altitudes of business that AI will transform:

  1. Robotics: Involves manual work, often associated with tasks on the factory line.
  2. Execution (Knowledge Work): Recent advancements, such as chat GPT, aid in knowledge work and execution, improving productivity in tasks like writing emails.
  3. Operations: Focuses on how discrete work processes work together, orchestrating execution across multiple domains to create a cohesive system that produces results.
  4. Strategy: Involves making strategic trade-off decisions, requiring contextual analysis to make informed choices based on the surrounding environment.
  5. Ideology: Encompasses the values, beliefs, and vision of an organization, representing the foundational principles guiding its actions.

[16:39] – What is the best way to prepare for this transformation?

  • You need to grasp the difference between artificial intelligence (AI) and traditional computing, where AI involves inference and judgment, bringing a probabilistic element compared to deterministic mathematical algorithms.
  • Understanding is crucial for envisioning how AI can transform businesses.
  • You should actively experiment with AI tools like ChatGPT to stay relevant in a world increasingly shaped by AI, emphasizing its potential to enhance productivity and create leverage.
  • From a business perspective, you should identify and address fundamental pain points in your operations, exploring new solutions made possible by AI.
  • By educating yourself about AI, experimenting with its applications, and strategically addressing business challenges, you can better prepare to adopt and leverage AI technologies for significant advancements.

[18:59] – What should you do to ensure you are not left behind?

  • Commit to spending dedicated time each week, around 15 minutes, to read and listen to AI-related content, ensuring you stay well-informed about the technology.
  • Allocate time for hands-on experimentation. Devote 15 to 30 minutes to perform a task using an AI-based tool, gaining practical insights and expanding your understanding of its potential applications.
  • Actively experimenting, you will witness the transformative power of this technology and begin envisioning innovative possibilities.

[19:53] – David gives a takeaway.

  • Most entrepreneurs are contemplating how to harness the power of this groundbreaking technology, embraced globally, to benefit their businesses and realize its full potential in uplifting humanity. It is possible to achieve both objectives concurrently—leveraging the technology for the greater good while ensuring it proves advantageous for your business. By adopting this approach to integration, you can enjoy the best of both worlds, creating a synergy where technological advancement aligns with human betterment.

[20:47] – David gives his call to action.

[22:22]- Thank you to our Sponsors!

  • HubSpot: With the HubSpot for Startups program, you can save 30-90% on a platform that scales right along with you! To see if you’re eligible to join the HubSpot for Startups program and take your growth to the next level, visit HubSpot.com/startups!
  • NetSuite: Download NetSuite’s popular KPI Checklist absolutely free – designed to give you consistently excellent performance – at NetSuite.com/fire!

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!

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