Turn Your Fear of AI into Profit — Follow These Steps to Transform Your Company and Boost Your Profits.

By temporary On Aug 1, 2024 25

Opinions expressed by Entrepreneur contributors are their own.

To all entrepreneurs who fear AI job displacement, it’s important to remember that headlines only share a slice of the story but don’t always call out exactly what you need to focus on. In the last year, numerous articles have been published about AI replacing jobs. While this is true to some extent, we also know AI is creating many new jobs. Journalists can choose to highlight either perspective. However, this article isn’t going to focus on convincing you, the readers, if there is more job creation or loss happening at the moment because what can you tangibly do with that information? Nothing meaningful. Rather, this article challenges you to think inward and ask yourself if your thoughts are aligned with the first question in this AI boom or the second: “Why is this happening to my job?” or “How can I make even more money from this disruption?”

If you’re asking the first question, remember why you became an entrepreneur in the first place. The true spirit of entrepreneurship is about capitalizing on pivot moments, not running away from them. If you’re asking the second question, your mindset is already on the right track. Keep reading, and best of luck on your AI-blended journey. I’m excited for you.

Embracing disruption

Let’s be honest, though — whether you are a business owner or a sole freelancer relying on the gig economy, it is delusional to think there will never be disruptions in an industry, especially as the pace of technology evolves and we continue to experience exponential growth curves — generative AI is a prime example.

I, too, was affected by generative AI abilities becoming democratized and publicly available, as various services we offer at OBIS are in the realm of data analysis, and various large language models can write queries and code, as well as troubleshoot and diagnose business intelligence related issues, etc. But instead of wasting my time wondering “why,” I constantly challenged myself to say, “How can OBIS serve our clients today even better?” and most importantly, how can I use AI to our advantage and open up new ways to personalize the client experience, create new services and deliverables, and overall just become the best AI advisor to clients during this massive technological shift? After putting our strategic thoughts to paper, we are confident we can put our best foot forward in the age of AI, and we are excited about watching the outcomes unfold.

Transform — don’t compete

Yes, AI is going to disrupt many opportunities for entrepreneurs and freelancers. Still, it’s up to people in those roles today to determine if they want their jobs to be replaced or merely transformed by choosing to focus on what they highlight in their portfolios. For example, let’s talk about the jobs that are at risk for automation since they are consistently brought up as an example of living within the crosshairs for elimination.

My honest opinion for the at-risk roles is a bit counterintuitive — it’s time to raise market rates, not lower them to “compete with AI.” You’re not going to compete with AI because you are not AI. You are a creative human being capable of understanding nuances, context, and client needs, as well as performing more specialized work than a generalized model that doesn’t know the existing needs of your prospects and clients. Lowering your rates to acquire jobs out of fear of displacement signals a lack of confidence in your own value.

And yes, the shift we are seeing is significant. But it’s also time to recognize that clients aren’t coming to you anymore for the first pass, but rather the final one — and the final one is what goes to market. This is where your expertise becomes invaluable. Your greatest assets are your unique perspective, creativity and ability to tailor solutions to specific client needs. These skills deserve a premium price tag. When clients use your work to represent their brand and grow their business, they’re not just paying for a service but investing in your specialized knowledge and human touch.

Your role isn’t diminishing in an AI-driven landscape – it’s evolving. You’re becoming more of a strategic partner, an expert who can navigate both human and AI-generated content to create optimal outcomes. This evolution in your role justifies higher rates, not lower ones. With this mindset, let’s explore how to reshape your portfolio to showcase your enhanced value in the age of AI.

A pivot portfolio strategy for roles at-risk

Here are five techniques you can use to market your services in an AI-generated content-saturated market — a pivot strategy for your portfolio:

Before-and-after showcases: Demonstrate your value by highlighting before-and-after examples of how you’ve transformed AI-generated work into polished, high-quality outputs. Emphasize the improvements in quality, relevance and personalization that your human touch brings.
AI literacy and industry-specific knowledge: Develop a deep understanding of AI capabilities in your field and how they interact with industry-specific requirements. Depending on what’s most valuable to your clients, use this knowledge to leverage AI effectively or differentiate your services from AI-generated work.
Data-driven validation: Conduct and share A/B tests comparing AI-only outputs with your enhanced work. Use concrete performance metrics to demonstrate the added value you bring to projects.
AI-enhanced strategy development: Create comprehensive strategies that blend AI analysis with your professional insights. Present clients with visual maps or plans showing how to use AI to identify trends and opportunities while applying your expertise to develop actionable, tailored strategies.
Offer premium refinement services: Position yourself as the essential final step in the production process. Emphasize your ability to take AI-generated drafts or preliminary work and refine them into market-ready, high-quality deliverables that align perfectly with client needs and industry standards.

Because, let’s face it — while AI is indeed transforming the job and gig economy landscape, it also presents incredible opportunities for those willing to pivot and adapt. By embracing AI and leveraging it to enhance your services, you can stay ahead of the curve and continue to thrive. The key to entrepreneurial success lies in your ability to capitalize on these technological shifts rather than fearing them. So, take these strategies to heart, adjust your approach, and let AI be the catalyst for your growth and innovation. And, of course, reach out to me if this strategy intrigues you and you want to discuss it further.