The author of Personal Financial Affairs Jimmy Kamoul – in a recent article published by Forbes magazine – highlighted how the AI (AI) to achieve financial independence, especially by supporting entrepreneurs, can launch their projects at the lowest possible costs.
Entrepreneurship has become easier
The cost of developing software is always considered one of the largest obstacles to the establishment of companies, especially in the fields of technology.
The cost of developing the phone applications may reach between 30 thousand and 300 thousand dollars, in addition to the high costs to employ internal development teams or contract with external companies. However, Kamoul indicates that “the advancement of artificial intelligence tools in programming may completely change the equation.”
“Soft Mine” provides a prominent example in this field, as it provides a platform for developing applications based on artificial intelligence, allowing independents and small project owners to build their applications without the need for professional developers, thus reducing costs significantly.
According to a report issued by the company “McKinsey” in 2023, obstetric artificial intelligence may raise the productivity of developers by a large percentage, which enhances the chances of reducing expenses.
Reducing costs and increasing profitability
Kammol indicates that artificial intelligence tools give entrepreneurs many financial advantages, most notably:
- Reducing establishment costs: a project can start with less capital without the need for a huge development team.
- Speeding the launch of products: Artificial intelligence technologies contribute to reducing the duration of the development of products, allowing the ideas to be tested quickly and adapting to the market.
- Increased profitability: by reducing operational expenses, resources can be directed towards customer acquisition and expansion in the market.
- Reducing the level of risk: A study issued by “CB Insights” indicated that 38% of startups fail due to the exhaustion of funds, often due to excessive spending on the development of products. Here, artificial intelligence can contribute to maintaining costs within the reasonable limits.
A balance in the digital market
Kamoul explains that the major companies have always dominated the development and technology tools thanks to their huge budgets.
However, artificial intelligence began to “settle the pitch”, as she put it, by giving small companies and individuals effective tools for building websites, designing work flows, and developing applications with high efficiency and quality.
Artificial intelligence as a lifeline for financial growth
Among the basic advice provided by the author in the report is: “Invest in what is really important,” in reference to the importance of focusing entrepreneurs on marketing, developing customer experience, and improving the product, instead of spending huge sums on traditional software development. By redirect resources, financial stability and long -term growth can be achieved.
According to Forbes, the shift towards the use of artificial intelligence in the field of entrepreneurship is no longer an option, but a necessity in a time when everyone searches for financial independence and controlling their future.
And for those who look to establish his own work, this moment, thanks to artificial intelligence, may be the most appropriate to launch towards financial freedom.
