Friday, February 23, 2024

Velin Dragoev of Keen Fighter Discusses the Impact of AI on Business and Entrepreneurship

Leaders Perception Magazine is currently running an interview series called – Navigating AI’s Impact On Business

Meet Velin Dragoev, the founder of Keen Fighter, a website dedicated to bridging the gap between conventional martial arts and a more mindful approach to training. With a background in martial arts that spans over a decade, Velin launched Keen Fighter three years ago to share his experience and help people live life to the fullest. Recently, his website started generating income, allowing him to quit his day job and focus on growing his business. In this interview, Velin shares his thoughts on the impact of AI on the business landscape, how it will change customer service and experience, and how entrepreneurs can prepare for these changes. He also discusses the potential for AI to replace jobs and offers insights on how businesses can create jobs that are complementary to, rather than competitive with, AI. Finally, Velin shares an example of a business that is using AI in an innovative and impactful way, and how entrepreneurs can learn from this example to drive growth and success in their own businesses.

Interviewee Name: Velin Dragoev

Company: Keen Fighter

The Interview

Can you tell us about your background and how you got started in your industry?

Velin Dragoev: I come from a family of martial arts practitioners, and I’ve been training since I was 12 years old. About 3 years ago, I decided to start sharing my experience by launching my own website – KeenFighter.com – where I hope to eventually bridge the gap between how I see martial arts and the conventional way people have of looking at them. My aim is to help people become more mindful and live life to its fullest.

Can you share a recent success or accomplishment that you’re proud of, either personally or for your company?

Velin Dragoev: Recently, my website started generating income for me and that allowed me to quit my day job and shift my focus to growing it. Quitting my job was honestly the most liberating thing I’ve ever done!

In your opinion, what are the most significant changes that AI will bring to the business landscape over the next 5-10 years, and how can entrepreneurs prepare for these changes?

Velin Dragoev: I think the most significant change will be the complete automation of many low- to mid-level jobs. If you want to prepare for this, it’s a good idea to start learning how to use these tools and how you can implement them in your business. This technology has enormous potential and the sooner you start learning about it, the better-off you will be in the long run.

How do you see AI changing the way businesses operate, particularly in terms of customer service and experience, and what strategies can entrepreneurs use to leverage this technology effectively?

Velin Dragoev: I think we’ve already seen AI change both UX and customer service. With chatbots becoming commonplace, we’ve seen a huge boost in the efficiency of customer service. Since chatbots can take care of simple issues, it’s allowed customer service reps to focus on more complex issues. With AI, this will just go one step further. Maybe now, customer service representatives will only solve the most difficult of problems.

There is growing concern that AI may replace jobs that are currently performed by humans. What are your thoughts on this, and how can businesses and entrepreneurs ensure that they are creating jobs that are complementary to, rather than competitive with, AI?

Velin Dragoev: I think this will definitely happen, especially with low-level jobs. We’ve already seen freelance copywriters and copywriting agencies have to cut their rates so they can compete with AI writing services.

If you’re a business owner and you don’t want to create jobs that will get replaced by AI, I think you should focus on positions that require some level of decision-making. Maybe even combine a junior position with the senior position above it, and train your employees to use AI. That way the person doing the senior position can focus on the decision-making portion of the job and offload the more labour-intensive part to the AI.

What are some examples of businesses that are currently using AI in innovative and impactful ways, and how can entrepreneurs learn from these examples to drive growth and success in their own businesses?

Velin Dragoev: I think a great example of such a business is Ascent. It’s an app that uses AI to identify the regulations a company must comply with and keeps them updated as the rules change in the financial sector. Their AI constantly monitors for rule changes and quickly alerts the proper people to any compliance issues.

I think this is a great example of how you can harness the power of AI to analyze large amounts of data and provide something of value to your users.

Leaders Perception would like to thank Gill Valerio and Elevate Marketing for the time dedicated to completing this interview and sharing their valuable insights with our readers!

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