Stephen talks about how embracing AI is the best way for the world to head into the future. It will be brighter and more creative.

Dave Young:

Welcome to The Empire Builders Podcast, teaching business owners the not-so-secret techniques that took famous businesses from mom-and-pop to major brands. Stephen Semple is a marketing consultant, story collector, and storyteller. I’m Stephen’s sidekick and business partner, Dave Young. Before we get into today’s episode, a word from our sponsor, which is, well, it’s us, but we’re highlighting ads we’ve written and produced for our clients, so here’s one of those.

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Dave Young:

Welcome back to The Empire Builders Podcast. Dave Young here, with Stephen Semple. And Stephen told me that today he wanted to talk about AI, and I’m just assuming that the hammer’s about to drop and that this podcast is now just going to be replaced by some kind of chatbot. Is that what you had in mind?

Stephen Semple:

How do we know it hasn’t already been [inaudible 00:01:52]?

Dave Young:

Well, gosh. Good point.

Stephen Semple:

At the core of this podcast is this idea that we need to be looking outside our space and looking for opportunities and kind of being open to things.

Dave Young:

Mm-hmm.

Stephen Semple:

And I wanted to put a little bit different look on what I think the AI opportunity is and bring a little bit of historic perspective to a couple of things. So that’s kind I wanted to do here. So here’s the interesting part. Let’s go back a hundred years.

Dave Young:

Okay.

Stephen Semple:

We’re in the 1920s. We’re in that period leading up to World War II. The Industrial Revolution is really getting going at this point. And if there was an economist out there looking forward and looking at the Industrial Revolution, here’s one way that they could look at it. At the time, one out of three people worked directly in agriculture. A third of the people were farmers, and not support the agriculture, farmers. And today, it’s like 1.5%. It’s like out of a hundred people, there’s a couple people who are farmers. None of us even meet farmers anymore.

So if you were an economist and you called that correctly, you would say, “Wait a minute, the Industrial Revolution is going to wipe out one of the largest employers in the economy,” it would be really easy to make the call, the economy is going to be a disaster. Our biggest employer is going to go from 30% to 1.5% of the workforce. So it’d be an easy way to call the Industrial Revolution. And it did work out that way, except, it didn’t.

Because here’s the other part that’s interesting is according to a study by MIT, now, this one doesn’t go back to 1920, it goes back to 1940, 60% of the jobs that we do today did not exist in the 1940s. The vast majority of the work that we do today, almost 2/3 did not exist. So the economy created a whole pile of new jobs. But here’s the interesting thing, it’s not just high-tech jobs, it’s ancillary jobs to that. So for example, heating and air conditioning repairman did not exist in the 1940s.

Dave Young:

Sure.

Stephen Semple:

While there was plumbing, a lot of homes did not have indoor plumbing. Being a plumber was not a huge thing in the 1940s. So it’s not just these changes bring, you got to look at, “Oh, well, what are the jobs in AI?” there’s going to be all sorts of opportunities that are going to present itself that we haven’t even dreamt of or thought of that we got to keep our eye open to.

Dave Young:

I agree with that. I agree. I’ve not dived in headfirst into ChatGPT and all of the other AI things like so many of us, many our Wizard of Ads partners have done. And I’m not sure what it is about it that when I have dabbled, it’s been a pretty good experience, pretty eye-opening. I’ve gotten some ideas, things like that. I’m not going to ask it to write anything for me, but I am asking it for some ideas, and it’s pretty darn good at coming up with some ideas.

Stephen Semple:

I find it good for first drafts of something. So again, that’s looking for ideas. Or sometimes, it’s I got this thing and I want to change it. So for presentations, I’ve got this idea and I want to turn this idea into a presentation, and it has to be a five-minute presentation. I want to follow this arc. It can give, again, that first draft where I can then look at it and dig into it and make some changes on it. So I’ve definitely been using it, there’s going to be opportunities of being an AI coach and all this other stuff, but those are on the nose ones.

When we take a look at brand new technologies that have come in, whether it’s the commercialization of flight, which created a huge opportunity for Marriott, and the opportunity Marriott was to provide food to the passengers on planes. So many of the jobs are not the ones that are on the nose, it’s ancillary things that this technology then creates.

Dave Young:

Sure, yeah.

Stephen Semple:

Right? That’s actually where most of the work is. The explosion in the airline industry created all these opportunities that were outside the airline industry, which were hotels and resorts and providing food to the airlines and that were outside of the creation of that technology. And so, what I’m suggesting people to do is don’t just think about AI, yes, think about AI from the standpoint of how can I use AI, think about AI from the standpoint of what’s maybe some of my opportunities on AI, but also recognize, the biggest opportunities are going to be on a fringe, around it that we probably haven’t even imagined yet.

Dave Young:

Yeah, I agree. It’s hard to imagine the things that you’re talking about right now, right?

Stephen Semple:

Yes.

Dave Young:

In a way, it’s sort of like when Jeff Bezos decided he was going to start selling some books on this little website called Amazon, and nobody knew the revolution that he was going to start in even things like distribution and having enough warehouses within miles of people that you could start ordering things that would be delivered the same day, not just books. There’s this butterfly effect of new things like that that we can’t envision what that’s going to mean.

Stephen Semple:

Absolutely. Well, it’s hard to believe that the iPhone was launched in 2007.

Dave Young:

Yeah.

Stephen Semple:

It’s not 20 years old. And think about all of the opportunities and changes. It was 2000 is when the first e-commerce, well, I think it was actually 1999 the first e-commerce transaction happened, but let’s say 2000.

Dave Young:

Sure. Yeah.

Stephen Semple:

E-commerce was not a thing before 2000. And it’s funny, I remember back, my oldest daughter when she was in middle school, and we were sitting down with a counselor, and the counselor was going through helping her figure out what she should do in high school because you got to pick the right things in high school because it’s the right things in high school that set you up for getting the right degree in university, and getting the right degree in university sets you up for work. And Crystal was cratering in that moment.

And I ended up having to look at the counselor going, you are trying to pretend that you know what’s going to be in demand 15 years from now. Let’s recognize we have no idea.

But here’s the key to this, I think, it’s really hard to be creative and open and able to seize these opportunities when you approach it from a place of fear, very, very, very hard.

Dave Young:

Stay tuned. We’re going to wrap up this story and tell you how to apply this lesson to your business right after this.

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Dave Young:

Let’s pick up our story where we left off. And trust me, you haven’t missed a thing.

Stephen Semple:

But here’s the key to this, I think, it’s really hard to be creative and open and able to seize these opportunities, and you approach it from a pla...