Future of Startups: How to Apply AI for Success in Pitching for Growth

A blog about the practical steps you need to take to make AI work for your idea to a pitch-ready project

‍

By Nav Singh

‍

AI has gained substantial traction in all aspects of our lives and in various industries — use cases include updating customer records, movie recommendations, fraud detection, risk assessment, healthcare, transport, shopping apps, and even trading apps. Companies also can use AI in a customer relationship context to analyze the text of incoming customer messages or requests for customer feedback and trigger automated processing that delivers fast and efficient responses. 

However, a critical issue remains around applied AI for many companies, and especially those that want to have success in pitching for growth with their start up idea: expanding beyond its generally small-scale use. Interestingly, only 1% of pitch decks secure venture capital because the difference lies in the details that may be overlooked and the clarity provided, and that’s where AI may be able to assist.

Many startups are struggling to find out the best way to pitch their ideas, and even with AI. They want to know how to make use of this technology and industrialize it and make it work at scale.

How best to apply AI

To reap the benefits of AI, startups must know how to go from proof of concept to production applications with their idea while addressing important challenges such as having the perfect paper to prototype of their idea. What paths should companies take to achieve these goals and improve business performance? How do you define your company's purpose with clarity, and how do you address the problem with insight while at the same time presenting your solution as a beacon of hope? The key is to detail your product like the masterpiece it is, explain your business model to make it truly compelling and clear, and finally showcase your team – the architects of your vision. This can all be done with a perfect pitch deck created by AI.

‍

Let’s deep dive into some other key considerations:

• Have the right architecture and infrastructure in place. Industrializing AI requires having a flexible, scalable, cost-effective infrastructure and architecture that can easily adapt to future business needs. Many companies applying AI solutions still run into limitations around performance and face a high cost for energy consumption given the substantial computational power it takes to train and deploy AI models. Having the right IT landscape and the proper AI-compatible software in place can go a long way to ensuring optimal performance and maintainability. 
• Clearly define your AI models. Especially when dealing with issues related to pitching ideas, companies need to make sure their AI models are explainable to investors. Make sure there is no bias in your models and that model performance does not deteriorate over time. 

‍

How Mystartup can help

Mystartup is an AI platform that helps entrepreneurs turn ideas into reality. Our AI-powered tool converts your business idea into launch-ready plans and investor-winning documents. 

Get personalized guidance, formulate winning strategies, and generate essential documents – all tailored to your vision. 

With mystartup.ai, you can develop comprehensive business and marketing plans, create effective pitch decks, connect with a community of like-minded founders and mentors, and find investors interested in funding your vision. To find out more, watch this podcast with our co-founder and get in touch to see how we can help you: https://lnkd.in/gPcaRDVp