Shooting for the moon on an AI product idea is fine, though you can’t be betting on the sudden emergence of AI sentience to bring your madcap idea into being. Sorry, but throwing the dice and putting money down on AI sentience is just not in the cards for now.
Clever entrepreneurs are taking the LLMs and leveraging the AI into products or services that people want or need. In that sense, you could contend that the LLMs are an enabler for devising AI-based products or services. A crude analogy might be that if I showed you how to make fire, the fact that you could produce fire at will is mildly notable. If you then figured out that by controlling the fire you could cook meals, well, you are now harnessing the fire for an entirely utilitarian purpose.
A pivotal question that I often get at the AI pitch competitions is a classic chicken or the egg conundrum.Should the LLM be “perfected” first, before you try to use it for a particular use case ? Spend a week with peers and industry experts at the AI Grant summit in San Francisco in early November. As with any occasion where you have a chance to obtain investment and have investors, you’d be wise to have a good startup-experienced attorney and a tax expert in the wings. For this particular initiative, you would only need that advisory capacity if you get selected.prepared for these kinds of aspects at any time. Here’s the reason why.
Please know that I am not one of those pundits that proclaim ideas are dime a dozen. I don’t go for that. I do though openly agree that ideas are a long way from being something of the reality that works and can make money. Also, the effort to turn an idea into a productive product or service is an arduous and bumpy road. No doubt about it.
In essence, finding a solidly outstanding entrepreneur is a lot harder than you think. Finding good ideas is usually easier. Also, realize that most startups are going to have to pivot throughout their journey. The horse that was envisioned at the start is not necessarily going to be the same horse when the startup adjusts and advances along. Meanwhile, if an entrepreneur is worth their salt, they pivot as needed.