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VC Funding: A Comprehensive Guide for Startup Founders

Venture capital funding, often called vc funding, is essential for today���s startups. It transforms ideas into reality, helping entrepreneurs disrupt industries. Vc funding is private equity financing for startups and small businesses with high growth potential. Venture capitalists provide capital, expertise, connections, and guidance. They help companies navigate rapid expansion and market competition.

Venture capital���s impact on business is significant. Venture-backed companies represent a substantial portion of U.S. IPOs, driving economic growth and shaping industries. This highlights venture capital���s pivotal role.

Table of Contents:The Mechanics of VC FundingStages of VC FundingThe Role of Venture CapitalistsThe Current State of VC FundingRecord-Breaking Investment LevelsChanging Investment PatternsThe Impact of VC Funding on StartupsPros of VC FundingCons of VC FundingNavigating the VC Funding ProcessThe Future of VC FundingDemocratization of AccessFocus on Diversity and InclusionEmphasis on Sustainable and Impact InvestingConclusionThe Mechanics of VC Funding

Understanding vc funding is crucial for entrepreneurs. Let���s explore the venture capital ecosystem and the process.

Stages of VC Funding

Venture capital investments have stages, each matching a company���s growth phase.

Seed Stage: The earliest phase, used to prove a concept or develop a prototype.Series A: Companies with a track record seek to scale operations and raise money. This often involves issuing common shares, potentially leading to equity dilution for common shareholders.Series B and Beyond: These stages focus on expanding market reach and new products. Later-stage companies aim to further raise funds, potentially impacting the original investment.

Each stage has expectations and challenges. Funding and investor scrutiny increase as companies advance. Capital funds and vc firms assess factors like management fees and fund returns to mitigate downside protection for their limited partners.

The Role of Venture Capitalists

Venture capitalists are more than funding sources. They play a key role in portfolio company growth.

Much of their investment builds infrastructure. This includes expense investments like manufacturing and marketing, and providing working capital. Venture capitalists often take board seats, mentor, and leverage networks to help companies succeed.

The Current State of VC Funding

The venture capital landscape constantly evolves, influenced by various factors.

Record-Breaking Investment Levels

Despite economic uncertainty, venture capital thrives. More VCs than ever are investing more capital than ever. Many venture capital firms have pension funds and insurance companies as limited partners that rely on high growth rates and long time horizons to perform well.

Several factors drive this surge, including rapid digitization, new technologies, and increased interest from non-traditional investors. Angel investors also contribute to venture funding, sometimes taking the role of ���lead��� investor. Private equity firms may also invest alongside venture capitalists in pre-seed seed and seed series funding rounds. Many firms typically structure investments so they do not always retain voting rights, which also depends on the round of funding.

Changing Investment Patterns

Investment patterns are shifting alongside increasing vc funding volumes. Venture capital investments continue at a high rate as fund managers must find appropriate portfolio companies for venture funds and capital funds to invest in and generate returns on invested capital.

Focus on later-stage deals, backing established companies with a clear track record of financial performance and management teams.Increased interest in healthtech, edtech, and climate tech. Venture capitalists are attracted to high-growth companies looking to raise funds to expand rapidly. Vc investments must perform for businesses to succeed so that investors can generate returns to their institutional investment partners like pension funds.Growing attention to diverse founders and underrepresented communities. VCs invest across various stage companies to take companies public for successful ventures.

These changes reflect societal shifts and highlight the venture capital industry���s dynamic nature.

The Impact of VC Funding on Startups

For startups, vc funding can be transformative but challenging.

Pros of VC FundingAccess to substantial capital. Seed funding often provides just enough to get off the ground.Expert guidance and mentorship from experienced venture capitalists and capital partners.Network effects, connecting startups with potential customers, partners, and future investors. VC funding is especially critical when building the infrastructure required for expansion, including expense investments for manufacturing, sales, marketing and beyond.Credibility boost, enhancing market profile. A VC firm will help a company avoid additional investment on expenses that they already have, so they are essentially sharing services.Cons of VC FundingOwnership dilution in exchange for funding. It is crucial to understand how your percentage of company ownership would be affected if your company became successful, even with some dilution, as many VC-backed startups are high growth and become very valuable over time.Pressure for rapid, possibly unsustainable, growth.Loss of some control, with investors influencing decisions and potentially changing the company���s success by holding board seats.The fundraising process can be time-consuming for founders.Navigating the Venture Capital Funding Process

Understanding the process is key for entrepreneurs seeking vc funding.

Develop a solid business plan and pitch deck.Research and identify relevant VC firms. Consider factors such as the management teams and typical fund investments to choose the appropriate firms.Network and get introductions to investors.Pitch your idea and company. Emphasize the potential for growth rates.Undergo due diligence if a VC is interested. Ensure accurate financial performance representation. VC firms and angel investors will likely perform detailed diligence. Be prepared to present projections.Negotiate terms and close the deal. This typically involves establishing clear voting rights.

Securing funding can take months and multiple attempts. Persistence and adaptability are crucial. If you do not successfully obtain the required funding or are seeking more than just initial funding amounts, consider how best to utilize capital funds.

The Future of VC Funding

Several trends are shaping vc funding���s future.

Democratization of Access

New platforms aim to broaden entrepreneur access to venture funding.

Equity crowdfunding platforms.Rolling funds for smaller investors. Many companies go this route before attempting to bring on traditional funding rounds that VC���s prefer. Venture Capital Firms all have very specific expectations on their investment.Accelerators and incubators for early-stage funding and support.Focus on Diversity and Inclusion

Greater diversity is needed in both the VC industry and funded startups. Efforts to address systemic biases are crucial.

Emphasis on Sustainable and Impact Investing

Many VC firms now incorporate ESG criteria into investment decisions, reflecting responsible investing and recognizing sustainable business potential.

Conclusion

Venture capital funding drives innovation and growth. The evolving vc funding landscape presents both opportunities and challenges. By understanding the process, trends, and mechanics of vc funding, startups can use it to achieve their visions. Whether you���re seeking funding or looking to invest, venture capital and capital firms play a significant role in shaping the business landscape.

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AI Model Selection: A Guide for Startup Success

Picking the right AI model can feel overwhelming. The success of your project hinges on making the correct choice. This post guides you through AI model selection. We’ll explore key factors, discuss various model types, and provide real-world examples. You’ll gain the skills to choose AI models strategically.

AI has existed for a while. However, its rapid growth created a complex landscape. This makes it difficult for startups, investors, and even marketers to know where to start. This guide will help provide direction for selecting a machine learning model.

Table Of Contents:Understanding AI Model CategoriesSupervised LearningUnsupervised LearningReinforcement LearningDeep Learning ModelsAI Model Selection: Key ConsiderationsProject Goals and Business ObjectivesData Requirements and AvailabilityModel Complexity and InterpretabilityComputational Resources and ScalabilityEthical Considerations and Bias DetectionPractical Steps for Effective AI Model SelectionCase Study: AI-Powered Customer SegmentationConclusionUnderstanding AI Model Categories

AI models are broadly categorized by their learning style and function. Understanding these categories is the first step in AI model selection. Using selection techniques helps one understand machine learning.

Supervised Learning

Supervised learning is like having a teacher. The model trains on labeled data provided by human experts. For example, image classification models learn from labeled pictures of “cat” or “dog.” Supervised models excel at prediction by finding relationships between inputs and outputs.

One example is using supervised learning models like linear regression and logistic regression decision trees to forecast stock prices.

Unsupervised Learning

Unsupervised learning lets the model explore data independently. Unlike supervised learning, it uses unlabeled data. The algorithms identify trends and patterns by examining similarities. These models are helpful for tasks like fraud detection, where labeled data may not exist.

Reinforcement Learning

Reinforcement learning uses trial-and-error within an environment. This could be trading, medical treatments, or gaming. Successful actions receive positive rewards, reinforcing effective behaviors. Reinforcement learning can use sample datasets and aims to improve a model’s performance on classification tasks over time.

Deep Learning Models

Deep learning models use interconnected layers of computational units. These networks mimic the human brain. Deep learning models are powerful with unstructured data, like in medical diagnosis using image analysis. This method typically works best on larger datasets where maximum likelihood estimation and related probabilistic measures provide better model fit. Common models employ neural networks which often include backpropogation.

AI Model Selection: Key Considerations

The variety of AI models can make selection seem challenging. Here’s where the aspects of choosing the right AI model come together. Each step in the selection process relies on careful assessment of the needs for the final model based on statistical methods and testing.

Project Goals and Business Objectives

Define your desired outcomes. Whether it’s cost savings, automation, or revenue generation, ensure alignment between project goals and business direction.

Understanding the problem helps guide AI model selection. This focuses your energy on relevant choices, especially with candidate models that perform specific functions. For example, regression models such as linear regression and support vector machines are often preferred for predicting continuous outcomes, while decision trees are particularly well-suited for tasks involving discrete or categorical variables.

Data Requirements and Availability

Consider your available data. AI models need data, and selecting the right type depends on having sufficient data in the right formats.

Data privacy also influences data storage decisions. Consider whether smaller datasets with relevant variables might be preferred over larger, more general data sets, or the extent to which data cleaning techniques will be employed.

Model Complexity and Interpretability

Complex models can be powerful but may lack transparency. Sometimes, simpler, more interpretable models are preferred.

Transparency builds trust. Select models that meet your needs for both performance and interpretability. For example, support vector machines provide accurate classifications on unseen data, while a naive bayes algorithm often requires less computational resources and data preperation but typically underperforms neural networks when presented with the same test set.

When the logistic regression model becomes overly complex a penalty term can be introduced to improve the generalization to unseen data, or prevent the model from becoming too dependent on specific data. Often the final select model can change when presenting the findings to project stakeholders.

Computational Resources and Scalability

Complex models require more processing power. Consider budget and scalability to avoid bottlenecks.

Analyzing resource needs guides effective decision-making in AI model selection. For example, some classification tasks benefit greatly from using K-Nearest Neighbor (KNN), but model selection becomes more nuanced with KNN due to the resource intensity when searching for the best probabilistic measures on large test data sets.

Bootstrap sampling and k-fold cross validation provide good metrics for evaluating model performance without requiring multiple models. Selecting learning algorithms and training on a subset or data sample, such as a random selection of data points can provide an initial gauge of the computational complexity and identify the right data preperation needs for further evaluation.

Ethical Considerations and Bias Detection

Bias can affect AI models. Evaluating ethical implications ensures fairness. Be mindful of potential biases in your data and models.

Ethical AI is crucial. Consider these aspects in your AI model selection process. For instance, is a logistic regression decision trees or a neural network a better choice for your data?

Practical Steps for Effective AI Model SelectionStepDescriptionDefine Your ObjectiveWhat problem are you solving? What are your success metrics?Analyze Your DataWhat data do you have? What is its quality, quantity and format?Research Model TypesExplore various models like random forest or maximum likelihood estimation, considering their strengths and weaknesses.Start Simple, Then IterateBegin with a basic model and increase complexity as needed.Evaluate and RefineContinuously monitor and adjust your model for optimal performance. Look at its predictive modeling, how it handles outliers, etc.Case Study: AI-Powered Customer Segmentation

A retail company wanted personalized marketing. They chose unsupervised learning for customer segmentation. The analysis revealed distinct customer groups.

They analyzed purchase history, behavior, and demographics. As a result, targeted campaigns drastically improved conversion rates.

Conclusion

Effective AI model selection is critical. This involves aligning technology with business goals for success. Careful consideration of business objectives, constraints, and potential impacts paves the way for successful AI integration.

Make AI model selection central to your planning. Whether you’re a startup founder, investor, or marketing leader, the right AI model choice is key to achieving your goals. A better understanding of model accuracy when training machine learning models allows you to better navigate the model selection process by selecting and iteratively improving upon candidate models through resampling methods on multiple times using the sample dataset rather than testing once on training data and then finally testing on unseen data. Model parameters must be carefully chosen during training to minimize issues like overfitting.

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CEO Mistakes Lessons: Key Insights for Startup Success

Starting a business is tough. You are likely in your twenties, maybe thirties, full of energy and drive, but possibly lacking the experience that only time can give. Many new CEOs want to learn about CEO mistakes lessons to gain crucial business knowledge and avoid common pitfalls.

It’s easy to get caught up in the excitement and overlook potential problems. One might ask themselves, “What did I get myself into?” One of the main keys to running a business is accepting you’ll learn many CEO mistakes lessons and using them to improve.

Table Of Contents:Failing Fast: A Necessary Evil in BusinessCutting Losses: When to Let Go of EmployeesPromoting the Right PeopleFinding the Balance in Management StyleAgreements Aren’t Set in StoneThe Importance of Defining Company CultureBeing Cautious with PartnershipsHiring Smart and Understanding Employment LawsWhy is Innovation Important?Embracing Employee Training and DevelopmentCommunication IssuesMaking Informed DecisionsConclusionFailing Fast: A Necessary Evil in Business

The idea of “failing fast” might sound counterintuitive, but it’s a valuable concept. The sooner a mistake can be made, the sooner one can learn from it. Think of any business or sports leader; they all have learned from failures.

Consider a project that’s been dragging on for months, showing no signs of success. A common leadership mistake is to keep investing time and money, hoping things will turn around. A leader might convince themself of the commitment, ignoring the warning signs.

Giving projects a reasonable timeframe, like 6-12 months, is smart. You need to check their progress regularly. If there’s no improvement, it’s time to move on, learn from the experience, and apply those lessons to future projects.

Cutting Losses: When to Let Go of Employees

The “hire slow, fire fast” concept is a great framework. It suggests taking your time during the hiring process to find the right fit. It also encourages quickly addressing underperformance in new and even old workers.

This isn’t suggesting all employees be perfect all the time. It’s not saying you can’t give someone a bit of space for them to turn things around. This is about consistent struggles in performance after a reasonable time, such as a year.

This can hurt company finances and market share. This also might be very hard mentally for an executive. Think too of your solid performing teammates, as they might be losing motivation due to the underperformer.

Promoting the Right People

It’s easy to assume that someone with all the right skills is ready for a promotion. However, this could hurt your goals and timeline in the long run.

Consider when a person who excels in their current role, but lacks the ambition for a higher one, is offered a job promotion. They might accept out of shyness or a fear of saying “no.” This leads to them being a terrible fit for the new responsibilities.

Instead, invite everyone to an open competition for the position. This lets ambitious individuals step forward and demonstrate their leadership potential. It also avoids placing someone in a role they don’t truly want.

Finding the Balance in Management Style

A company must figure out which leadership style is the most suitable for its goals. Being too strict doesn’t work for long-term plans, and the reverse is not always the best, too.

When a leader is too demanding, employees might start asking for approval on even minor steps. It crushes the freedom for people to feel creative and stifles employee engagement. This lowers initiative and can damage the overall workplace culture.

Being too friendly can make employees think performance doesn’t matter, leading to decreased motivation. Finding a balance is crucial for long-term employee performance and business success. Effective communication and open communication are essential here.

Agreements Aren’t Set in Stone

Sometimes, agreements just don’t work out as planned. Being open to negotiation is not giving up or a fault; it’s a sign of adaptability.

Think of a bonus system designed to motivate better performance. Sometimes the company’s goals and long-term focus differ. A win-win sounds like the ideal here, but many find it’s not the case.

Renegotiating agreements can sometimes lead to success by keeping long-term goals aligned. Do not fear opening the lines of communication with any team member or stakeholder to address concerns.

The Importance of Defining Company Culture

Company culture significantly impacts morale and productivity. Executives who have struggled will always encourage others to learn from those lessons, as a key mistake can be not defining the desired work space.

In a company, without clear communication of your core values, you get a mess of differing cultures merging. One of these values is that of trust, and the lack of a unified culture creates confusion. The MT High Tech Business Alliance article details a CEO’s experience; they had to invest $75,000 to realign their team and company due to cultural issues.

Always set values and expectations in the early days to help all new employees align from the start. Encouraging employees to embrace the company’s values is key to long-term success.

Being Cautious with Partnerships

Many startup founders dream of starting their ventures with trusted allies. Entering a new chapter without considering a partner’s full plans may become a painful endeavor in the end.

Imagine starting a company with a partner whose background complements yours perfectly. Once you have revenue streams, your goals then change. What happens if your partner just wants money now, not future returns?

It’s good to have tough discussions upfront with your new partner or board member. Discuss your personal long-term and short-term goals, and those of your business. A simple alignment discussion may go a long way.

Hiring Smart and Understanding Employment Laws

Workforce issues are a common trap, like employment laws that a CEO might not be fully aware of. Making informed decisions when hiring people you oversee or partner with can prevent legal complications and fines. Always read laws in each place or area your new employee, contractor, or business partner might be working in.

Common CEO Mistakes and SolutionsMistakeSolutionNot defining company culture early onClearly define and communicate company values from the startRushing into partnerships without aligning goalsHave in-depth discussions about long-term visions with potential partnersOverlooking legal nuances in employmentThoroughly research and understand employment laws in your stateOnly Focusing on Short-TermWhen long-term and short-term goals don’t work, consider a switch.Ignoring employee feedback and concernsEstablish open communication channels and actively solicit feedback.Why is Innovation Important?

Failing to be in a competitive and adaptable space hinders company growth, which should not be an environment of failure. Technology in recent times has given access to everyone with tools. Use all tools needed to become the leader everyone wants.

Leaders must consider adapting and embracing innovation. Some companies even use delegation techniques and communication software like Google to do weekly chats with their partners. Technology necessitates changes in older business models.

Successful CEOs understand the need to stay agile and embrace change to drive growth. This includes fostering a workplace culture that values continuous improvement.

Embracing Employee Training and Development

Many believe employees should think of education and skills by themselves. However, 74% of surveyed employees would appreciate being offered training. Investing in employee growth pays off in a big way in the future for any CEO, employee, contractor, or board member.

This improves skills and loyalty. Embracing these lessons is a CEO’s biggest tool. This means education needs to be prioritized.

Continuous training helps retain the knowledge that all business owners, board members, partners, and CEOs want for their ventures and career path. Continuous training helps grow not only the business, but also the morale of a team. A key element for employee retention is offering personal growth and professional growth opportunities.

Communication Issues

Poor communication can cloud your message to the team. It can create confusion among team members about your intentions. This situation may escalate if you, as an owner, partner, or CEO, do not act promptly to address it. Stay open to communicating and providing updates consistently to avoid misunderstandings.

Good communication creates employee and stakeholder trust. Feedback needs to come at every level. Take your communication seriously and pay attention to both good news and bad news.

Making Informed Decisions

Decisions shouldn’t be solely based on feelings and should not be made only at an executive level. It is wise to gather all needed information from all team members. One should reach out and encourage all workers, members, and stakeholders to share concerns at every step.

To make better decisions, foster accountability in an environment where workers have a say. Consider data-driven insights from all available information or resources inside your own place of employment. One of the biggest mistakes is making decisions that cloud judgment.

Conclusion

CEO mistakes lessons aren’t just speed bumps; they are valuable learning opportunities. All leaders, in any capacity, would suggest reading or learning through podcasts, for example, to find inspiration. Learn through business case studies and lessons learned from other leaders.

When businesses and partners share knowledge and focus on working through issues, things improve. However, being too firm in decisions or management style can sometimes be detrimental. To help prevent missteps, consider reading case studies and stories from other leaders, executives, and CEOs.

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Navigating the AI Future of Work: Trends and Insights

The AI future of work is a hot topic, sparking debate. Will robots replace us, or will AI become a collaborative partner, increasing our productivity growth?

The reality of the AI future of work is more complex. It’s not about total human replacement. It’s about how this quickly developing technology is reshaping work and the labor market.

Table Of Contents:AI’s Impact on Jobs: Separating Fact from FictionThe Rise of the “AI-Augmented” WorkerThe Skills You Need in an AI-Powered WorldCoding: Still a Valuable Asset, but Maybe Not for EveryoneSoft Skills: The Human EdgeAI Future of Work: Opportunities Beyond DisplacementThe Potential for Increased Productivity (and the Pitfalls)Industries Facing ChangeThe Importance of a Human Touch (Even with Chatbots)Proactive Steps to Prepare for the AI RevolutionLifelong Learning: The New NormalEthical Considerations: Not Just a BuzzwordHow Employers Can Use the Power of AIWhat Might an “AI-First” Business Look Like?The Role of Governments and InstitutionsPotential Policy Interventions: Guardrails and Safety NetsConclusionAI’s Impact on Jobs: Separating Fact from Fiction

Mass unemployment fueled by AI is a common fear. Some studies suggest potential impacts on cognitive tasks, differing from earlier impacts on factory jobs. These impacts might also include occupational shifts.

AI is great with pattern recognition, data analysis, and natural language processing. Jobs heavy in these areas *could* see change, like some legal or customer service roles, where AI might offer faster customer support.

The Rise of the “AI-Augmented” Worker

A realistic view sees AI as a tool to help. Instead of job loss, consider “job *transformation*.” This means current roles could change.

Professionals may work alongside AI “copilots.” Imagine a doctor having immediate patient data, allowing for quicker diagnoses and feedback during office visits. This supports better patient-first care, while also demonstrating how we might use AI tools to support our day-to-day tasks.

The Skills You Need in an AI-Powered World

If AI won’t take *all* jobs, what skills will be important? Various thought-leaders are discussing this.

Technical skills will be helpful, but flexibility is more critical. This involves responding to change in a shifting market. Automation technologies are constantly improving so those that embrace those improvements will be at an advantage.

Coding: Still a Valuable Asset, but Maybe Not for Everyone

Coding skills, while still relevant, might become a helpful mindset that not everyone requires. Basic coding understanding helps in a digital workplace.

Think of it like knowing basic math, even if using a calculator for big calculations. You need the base, but you’ll rely on tools more than ever. This reliance means leveraging generative AI.

Soft Skills: The Human Edge

Reid Hoffman suggests on a podcast that certain skills will thrive in an AI-heavy workforce. With AI handling repetition, humans will make the difference. What do humans offer that computers can’t?

Social intelligence is hard to build into machines, currently. Empathy and understanding our environment, which we regularly engage with, helps build relationships businesses need. This means soft skills will be critical when we consider occupational transitions in the near future.

AI Future of Work: Opportunities Beyond Displacement

The future of work, powered by AI, does more than change current jobs. There are jobs not yet imagined that might exist. New roles might also need to leverage data collection as well.

New roles could emerge focusing on maintaining and developing AI tools. Some examples shared by news organizations, such as the National Fund, include:

AI System Trainers.Maintenance Specialists.Ethics Consultants.Data Analysts.

There will still be training and processes to develop. Future jobs may have us work differently, using more artificial intelligence. This could also mean greater use of automated systems in the future.

The Potential for Increased Productivity (and the Pitfalls)

Generative AI tools, like ChatGPT, are proving helpful in some markets. One benefit is boosting productivity, which some organizations already see. More roles might also spend more time spent with strategic planning.

AI might help democratize skills and offer more job satisfaction by assisting with less critical, routine work. However, it may create bias for lower-skilled workers based on data used for training. So, businesses should provide training and support for working with AI software.

Industries Facing Change

AI’s influence goes beyond the tech sector, affecting all fields. The future of work will reach far and wide. It will be important for organizations to prepare for the transitions needed.

Here are industry types that could face shifts from technology, based on business press feedback:

Healthcare: Imagine AI-powered diagnostic tools.Finance: Picture fraud detection systems with smart algorithms.Customer Service: Envision customer service chatbots handling routines, offering faster answers.

This shift will mean some job categories may involve new roles and new tasks. Some jobs involve more basic data analysis, and those will change.

The Importance of a Human Touch (Even with Chatbots)

However, a robot can’t match our strengths. Some technology executives see a human advantage with new technologies, like machine learning. Even when dealing with service chatbots, human interaction will still be needed.

A recent Forbes article notes the risk, as businesses must recognize this as another tool. Humans are vital, as AI helps with repetition, but a strategic mindset is a game-changer for teams. We are in the early stages, so it is important to develop the right skill sets now.

Proactive Steps to Prepare for the AI Revolution

With all this change, how should *you* prepare?

A recent Brookings article notes that change will happen with or without acceptance. Businesses and individuals should embrace AI to improve their time and production. It is smart to prepare now, as it takes a longer time to master skills.

Lifelong Learning: The New Normal

Don’t view learning as a “one-time” event for your first career. Being competitive requires continuous learning. Ongoing education will be necessary in today’s work environment.

Companies can offer AI workshops to support workers using these new programs. This may feel overwhelming, but remember, technology changes have occurred throughout history, like the internet and phones becoming common. New generations will learn AI like earlier ones adopted those. Organizations may consider training programs for greater adoption.

Ethical Considerations: Not Just a Buzzword

Ethics might be overlooked in the rush for new technology, but they’re crucial. Leaders, managers, and owners must use ethics for business success. Thinking about ethical usage of AI systems early on will help later.

Ensuring strong practices around algorithms and private information is essential. Keeping workers safe and free to produce and engage has value in many ways.

How Employers Can Use the Power of AI

It’s easy to focus on employees when discussing AI, but businesses matter in the AI revolution, too.

Many businesses have tight finances and pressure to innovate quickly. How might AI integrate into companies, and should they prepare?

What Might an “AI-First” Business Look Like?

Businesses can gain assistance through AI, as discussed in business media. There might also be impacts to supply chains down the road.

By providing ways to quickly analyze reports and offering creative input for content and ads, leaders have fewer tasks for more strategic work. These leaders should understand that many lower-wage jobs might face change while other higher-wage jobs might not. There also might be new career paths for workers as things change. This may also lead to new opportunities in .

Below is a table showing how an AI-integrated office might operate.

AreaRole Before AINew Role With AIManagementAnalyzingStrategic planning and decision support.EmployeesDoing Routine TasksFocusing on advanced processes.Product TeamsResearch/brainstormingFaster analysis and greater speed/delivery of ideas. This could result in improved data processing.

This approach offers workers and businesses a different, hopefully improved, way of working professionally. There also might be new requirements, such as more advanced skills for various fields. Roles that have a high share of tasks involving elementary data could change drastically.

The Role of Governments and Institutions

AI transformation is large-scale, so wondering about other stakeholders, like government, is natural. Those with the highest earners may discover new work activities and opportunities as time moves on. Those with more manual skills will see their work routines impacted in the short term.

Policymakers are already discussing actions regarding future worker rights. Ideas are circulating and may have impacts. Some suggestions may have an emphasis on having basic cognitive skills. These discussions are in the early stages, and some estimates involve impacts at a midpoint adoption of this new technology.

Potential Policy Interventions: Guardrails and Safety Nets

One idea is offering a consistent voice for worker discussions with management, and greater influence for business and workers on AI decisions. More discussions might include things like net zero emissions.

Ideas have emerged about new training approaches for unemployment caused by technology making some jobs lower priority. The bigger opportunity is helping workers find higher-skilled, rewarding positions using strategy over simple processing or writing. We may also find there is a higher demand for health professionals as we move forward. We also need to be sure we are helping workers, and the recent McKinsey Global Institute report is a strong read. The goal should also be discovering what is uniquely human that AI cannot handle efficiently.

Conclusion

Hollywood enjoys telling wild stories about the Robotics’ future. These stories often depict a dark future in which AI takes over for its evil plans.

Most humans want a quiet, normal life with interesting work that rewards them fairly. We want peace and freedom to live safely. The truth about AI’s future of work is that it is a helper working in the shadows.

It’s not here to terrify and end civilization. Much of it is already quietly part of daily routines, from assistants detecting bank account security concerns to using apps for easier shopping. It will also play an important part in our having more sustainable environments with greater opportunities for those supporting a net-zero transition.

Some projections show there may be a potential increase in those supporting the environment and those working in more customer-facing roles, in contrast with possible job losses for those doing production work. Those working in food services may find some changes. Also, an aging population means change, with more emphasis on shift employment needs in some locations. 

It also means that as workers change occupations, it is critical to offer the right tools and support with a focus on workforce development and multiple options for different roles, especially for those in knowledge worker roles seeking new tasks for higher levels of professional challenges, which hopefully will lead to higher pay.

Those are some findings that a recent McKinsey Global report offers when reviewing the situation, specifically those areas that typically require careful analysis, with many opportunities for greater efficiency from AI automation.

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Coding Mindset: The Key To Unlocking Success

Ever found yourself staring at lines of code, feeling like you’ve hit a wall? It’s a common experience when learning how to write code. Developing a strong coding mindset is less about innate talent and more about nurturing a particular approach to thinking.

This approach emphasizes how you tackle challenges, learn from errors, and maintain persistence. A coding mindset involves viewing problems as puzzles to be solved, promoting a proactive and resilient attitude. This outlook is essential for anyone learning to code.

Table Of Contents:The Foundation of a Developer MindsetEmbracing the “Why” in the Coding MindsetFrom Problems to Solutions: Start Thinking Like a CoderWriting Code Is About Solving Specific ProblemsMake Your Code More Easy To Read and UnderstandComments Should Explain the ‘Why’The Power of Continuous Learning for Software DevelopmentReading and Understanding Code Improves the Developer MindsetEveryone Needs Some Help When They Write CodePersistence Pays Off For Developers To Solve ProblemA Growth Mindset Helps Improve The Developer MindsetBuilding Practicality into Your Code DevelopmentFocus On The Right Details for Better Coding ResultsConclusionThe Foundation of a Developer Mindset

The basis of a developer mindset rests on core beliefs about your abilities. It acknowledges that skills and intelligence are not fixed traits but can be developed over time. This perspective is crucial for continuous growth in the field of software development.

Professor Carol Dweck, at Stanford University, has extensively studied how beliefs about abilities shape learning journeys. Her research differentiates between a “fixed mindset” and a “growth mindset.” People with a fixed mindset believe their abilities are unchangeable, which often leads to avoiding challenges and fearing failure.

Individuals with a growth mindset, however, view challenges as opportunities for growth. They prioritize learning effective methods for addressing difficult problems. They then apply this knowledge to all their future tasks, constantly improving and adapting.

Embracing the “Why” in the Coding Mindset

Comments in code should primarily explain “why” a certain approach was taken, not just “what” the code does. By considering this, a programmer can concentrate on writing code that is easier to understand. Effective code makes its purpose and value immediately apparent to anyone who reads it.

Max Kanat-Alexander discusses “Code Simplicity,” emphasizing that good programmers write code with clear intent. This viewpoint highlights the importance of understanding. He notes, “the purpose of the software is not to show off how intelligent you are.”

From Problems to Solutions: Start Thinking Like a Coder

Programmers convert real-world problems into logical steps a computer can execute. This translation might seem challenging at first. It’s similar to building with LEGOs, where the bricks are lines of code, and the instructions are in a language you’re still learning.

When debugging, do you systematically test each component, or do you change things randomly, hoping for a positive outcome? An unorganized approach can be like searching in a dark room. The right mindset focuses on small, manageable fixes and a good problem solving technique.

When approaching a new task, start with a piece of paper. Write down, in your preferred language, all the different components of a solution as simple, sequential steps. This preliminary planning can significantly clarify the coding mindset process.

Writing Code Is About Solving Specific Problems

Code should generally be created based on current needs, not anticipated ones. Striving for overly generic solutions in anticipation of future changes can result in unnecessary complexity and confusion. It’s always important to know what kind of specific problem you are solving for.

Well-designed code should enable easier maintenance and improve readability. This benefits both the original author and other software developers. Easier debugging is another key advantage of well-structured code.

Make Your Code More Easy To Read and Understand

When revisiting code you or others wrote months ago, will its function and purpose be immediately clear? Consistent coding conventions, meaningful variable names, and insightful comments are vital for enhancing readability. All of these together will help other software developers better understand code.

Good coding uses variables and functions that serve as the “nouns” and “verbs” of the programming language. Naming elements poorly can create confusion for anyone reading code.

Comments Should Explain the ‘Why’

Code comments can be excessive if they describe actions that are obvious at a glance. Comments should focus on explaining the reasoning behind the code, not just stating what it does. Omitting comments entirely can cause future difficulties for those who need to understand the broader context.

Comments facilitate smoother transitions into debugging or maintenance later on. They provide essential context and rationale. This makes it easier for developers to make necessary modifications or fix issues.

The Power of Continuous Learning for Software Development

Think about preparing a new recipe. The first attempt might involve closely following the instructions and making some mistakes. You take notes about the successful elements and the areas needing improvement.

Later, you try to reproduce that challenging recipe again, applying the lessons learned. Software development follows a similar iterative process. You are constantly building on previous experience.

Writing code involves repeated iterations of reading, assessing, and improving. This cycle of refactor code leads to refined versions and enhanced functionality.

Reading and Understanding Code Improves the Developer Mindset

Becoming a proficient developer is linked to your ability to both write and comprehend code. This skill is essential for growth. Through this dual capability, you learn, adapt, and improve.

Reading code can often be more challenging than writing it. You might encounter code written by others, each with their unique styles and approaches. This task requires more than just recognizing the syntax of the programming languages.

Consider how authors encourage aspiring writers to study classic literature. Similarly, a coder should examine how others have crafted their coding solutions, learning from their techniques and insights. Understanding open source projects are a great way to accomplish this.

Everyone Needs Some Help When They Write Code

Are you stuck on a coding problem? Don’t hesitate to seek assistance and learn to ask effective questions. All coders, regardless of their expertise, need help at times.

In software development, collaboration and insights from other developers are often crucial. Sharing knowledge and experiences can significantly accelerate problem-solving. This can also expose you to different techniques that will help you grow as a programmer.

Online communities like Stack Overflow (valued at over $300 million) thrive on developers assisting each other. Numerous specialized communities exist, accessible through platforms like IRC or Meetup groups. These platforms offer in-person collaboration across various programming languages and topics, fostering a supportive environment for learning and growth.

Persistence Pays Off For Developers To Solve Problem

Think about the last time you spent hours on a frustrating task but continued anyway. Maybe you were assembling furniture or navigating a difficult level in a video game. Did giving up feel almost unacceptable, not an option you considered?

There’s a psychological principle at work called ‘loss aversion.’ This concept explains how the emotional impact of a loss feels much greater than the pleasure of an equivalent gain. Understanding this can help manage expectations and maintain motivation.

Programmers can fall prey to biases, such as believing a bug fix that “should” take two hours will be quick, even after developers spend eight hours. They persist stubbornly. While useful at times, can lead to burn out.

Taking a break isn’t necessarily detrimental. Jason Fried mentioned learning to stop work entirely or shift focus. A break can rejuvenate your mindset, providing a fresh perspective.

Recognize the potential for time focusing to turn into time lost. Sometimes taking a break helps the sesame street approach and helps get past frustration. Stepping away can be more beneficial.

A Growth Mindset Helps Improve The Developer Mindset

Have you noticed how children approach new tasks without apprehension? They might not excel at coding (or math, or any other subject) initially. ClassDojo creates and distributes growth mindset videos aimed at young learners, particularly those in K-6.

When encountering difficulties, they simply believe they haven’t mastered the skill yet. Consider children practicing singing before achieving fame. Like this growth mindset song on YouTube illustrates.

This outlook enables approaching code without anxiety, focusing on the learning process. Adopting a growth mindset fosters resilience. It encourages continuous improvement in coding abilities, allowing the developer thinks to not get frustrated so easily.

Building Practicality into Your Code Development

Consider “life hacks,” where people discover practical solutions to everyday annoyances. Solutions such as preventing garlic breath or simplifying travel. Programmers often apply similar ingenuity to their work, even extending it to personal matters like relationships.

It involves not just the “how,” but also injecting humor into the process. There’s an entire website dedicated to “programming” humor. Showcasing the lighter side of a profession known for its mental challenges.

Sites like When in Git and What the Commit demonstrate creative ways to handle common issues a code developer faces. These platforms highlight the blend of technical skill and creativity. Which are part of a strong coding mindset.

Focus On The Right Details for Better Coding Results

The tiniest syntax error can often go unnoticed until it causes a system crash. This necessitates constantly thinking and questioning, ‘Have I considered every possibility?’ This mindset involves acting as both the architect and the building inspector. Simultaneously designing and checking for vulnerabilities, helps students and professionals.

Here is a simple table about some common coding issues:

Issue TypeDescriptionPossible SolutionSyntax ErrorTypographical errors in the code.Careful review and use of code editors.Logic ErrorThe code runs but produces incorrect results.Step-by-step debugging and testing.Runtime ErrorErrors that occur during program execution.Exception handling and input validation.

A coding mindset requires accepting that progress isn’t always a smooth, ascending line. Consider a complex project and its timeline, along with achieving each milestone within a defined period. Unexpected issues are inevitable, yet software development demands incremental releases.

Conclusion

Cultivating a coding mindset, grounded in a robust “growth mindset,” involves acknowledging the continuous learning process. Adjusting your perspective on errors is crucial for success as a software developer. This shift in viewpoint promotes resilience and continuous improvement. The mindset mindset helps.

The ability to read code critically, seek assistance strategically, and maintain persistence are essential traits. These skills enhance problem-solving capabilities. Improving your approach to projects.

Embracing challenges, learning from mistakes, and continuous learning are cornerstones of a strong coding mindset. By focusing on these aspects, you can improve your abilities. These will also help you don’t solve the problems inefficiently. It also creates a much more rewarding career in software development.

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Soft Skills in the AI Era: Why They Matter More Than Ever

As AI continues to transform industries, many professionals worry about automation replacing their jobs. However, in my bestselling book Lean AI, I highlight that while AI excels at efficiency and data processing, it’s human skills—like creativity, emotional intelligence, and leadership—that remain indispensable. As an AI expert and a leader in AI-driven growth strategies, I believe these soft skills are more valuable than ever in the age of automation.

With years at the forefront of AI innovation, this experience has driven companies to scale efficiently using AI-powered automation. However, despite AI’s growing capabilities, human intuition, problem-solving, and interpersonal skills remain irreplaceable. While AI excels at handling repetitive tasks and data analysis, it still struggles with inherently human capabilities.

This article explores why soft skills are critical in the AI-driven world, how they complement AI, and what professionals can do to future-proof their careers.

Why Soft Skills Are More Valuable Than Ever1. AI Lacks Emotional Intelligence and Creativity

AI can analyze patterns, generate text, and even create art, but it lacks true emotional intelligence. Human creativity, intuition, and the ability to understand context go beyond what AI can currently achieve. This is especially important in leadership roles, where decision-making often requires emotional nuance and ethical considerations.

AI tools can assist in research and automation, they cannot replace the human ability to innovate and mentor others. Soft skills such as critical thinking, adaptability, and communication remain crucial in AI research and management.

2. Collaboration Between AI and Humans is Key

Rather than replacing workers, AI is designed to enhance human capabilities. Companies that successfully integrate AI often require employees who can work alongside these technologies. The ability to interpret AI-generated insights, provide creative solutions, and communicate findings effectively will be highly sought after in the workforce.

For example, in industries like marketing, AI can generate data-driven reports, but it takes a skilled marketer to craft compelling narratives and strategies that resonate with human emotions. The same applies to fields like healthcare, education, and management, where empathy and human judgment are essential.

3. Leadership and People Management Still Require Human Expertise

Leadership is one area where AI falls short. Managing teams, inspiring employees, and navigating workplace dynamics require soft skills that AI cannot replicate. Great leaders need to motivate, mentor, and resolve conflicts—tasks that demand emotional intelligence and interpersonal skills.

As AI takes over more technical and repetitive work, leadership roles will become more focused on fostering innovation, collaboration, and ethical decision-making. This shift will make soft skills even more indispensable in executive and managerial positions.

The Most Valuable Soft Skills in an AI-Driven World

To stay competitive in an AI-enhanced job market, professionals should focus on developing the following soft skills:

1. Creativity and Innovation

AI can assist in generating ideas, but human creativity is what drives true innovation. Thinking outside the box, developing new strategies, and adapting to unexpected challenges are skills that AI struggles to replicate.

2. Emotional Intelligence and Empathy

Understanding emotions, building relationships, and effectively communicating with others are crucial in any work environment. Whether managing teams, negotiating deals, or providing customer support, emotional intelligence remains a key differentiator.

3. Critical Thinking and Problem-Solving

AI can process information quickly, but it cannot always determine the best course of action in complex situations. Professionals who excel in critical thinking and problem-solving will be invaluable in making sense of AI-generated data and applying it effectively.

4. Adaptability and Resilience

The rapid evolution of AI means that job roles and industries will continue to change. Being adaptable and open to learning new skills will help professionals stay relevant in a shifting job market.

5. Leadership and Communication Soft Skills

Strong leaders must guide teams, make tough decisions, and communicate effectively. AI can provide insights, but it takes a skilled leader to interpret that information and inspire action.

How to Develop Soft Skills for the AI Era

As AI continues to evolve, professionals should take proactive steps to enhance their soft skills:

Invest in Personal Development: Take courses on leadership, communication, and emotional intelligence. Platforms like Coursera, Udemy, and LinkedIn Learning offer valuable resources.Engage in Collaborative Projects: Work with teams, participate in group discussions, and take on leadership roles to strengthen interpersonal skills.Practice Public Speaking and Writing: Effective communication is key in an AI-driven world. Join public speaking groups, write articles, or engage in networking events.Seek Mentorship and Coaching: Learning from experienced professionals can provide insights into leadership, problem-solving, and strategic thinking.Embrace Lifelong Learning: Stay updated on industry trends, AI advancements, and new business strategies to remain competitive in the job market.Conclusion

While AI is transforming industries, it is not eliminating the need for human expertise—especially in areas requiring creativity, emotional intelligence, and leadership. As AI expert, I know that soft skills are becoming more valuable in AI research and beyond.

My extensive experience in AI-driven automation has shown that while AI can enhance efficiency, it is still human ingenuity that drives innovation. To thrive in an AI-enhanced future, professionals must focus on developing their creativity, adaptability, and interpersonal skills.

By embracing continuous learning and strengthening these uniquely human abilities, we can ensure that AI serves as a powerful tool rather than a threat to our careers.

Scale growth with AI! Get my bestselling book, Lean AI, today!

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Always Be Launching: A Modern Marketing Approach

Ever feel stuck in a relentless cycle of planning and perfecting your product, only to see disappointing results upon release? As a startup founder or marketing head, you understand the importance of getting your product out there. But the traditional “big bang” launch often falls short. That’s where the concept of “always be launching” comes in.

The “always be launching” strategy is essential for startup founders in today’s digital world. By adopting a method of frequent, smaller launches, you can achieve more significant long-term success in a brief attention cycle. Airbnb, for example, launched three times before gaining major traction.

Table Of Contents:From Big Bang to Continuous BuzzWhy Traditional Launches Fall FlatAlways Be Launching: A New WayBuild a Strong Connection, not Just SalesThe Power of ConsistencyCelebrating Wins and Showing AuthenticityInteract and Listen, Don’t Only Share.Sharing More Than Services: Showing KnowledgeThinking Beyond Short Bursts of AttentionGo Directly to Your Audience Facing ContentPutting Always Be Launching Into PracticeConclusionFrom Big Bang to Continuous Buzz

Social media has significantly changed how products are launched. In the past, product teams focused all their marketing efforts on one major event, or a big launch. Many of those strategies aren’t effective in today’s competitive environment.

Today, ongoing interaction offers a great solution. Consistent promotion gives the market small, digestible pieces of content on your timeline. A long-term connection is much more impactful and meaningful than an isolated spike of attention.

Why Traditional Launches Fall Flat

Previously, companies had limited options for promotion. A common tactic involved gaining favor with key individuals and media outlets. Securing front-page newspaper coverage and positive reviews held more weight in the past.

Nowadays, this approach is less practical, especially with feeds delivering content to millions globally. Additionally, journalists are now more inclined to critique than advocate. Modern writers prioritize engagement metrics over delivering straightforward news.

Always Be Launching: A New Way

Continuous connection can be effective with the right implementation. Embracing openness and authenticity can cultivate strong support. Consider the necessary steps your business needs to take for successful integration.

How do you make the change to *always be launching*? Here’s a breakdown of the shift from large, one-time events to smaller, more frequent product launches.

Build a Strong Connection, not Just Sales

Launch activities extend beyond mere sales promotions and advertisements. View them as an ongoing process that provides audiences with a clear understanding of your brand’s values. Share content addressing common questions or concerns, transforming customer relationship-building into an engaging conversation.

Focusing your business activities increases the likelihood of developing customer trust. Consider regularly compiling case studies to add to the library of content. By growing content and gathering customer feedback, you define success easier.

The Power of Consistency

Regular content updates can leave a lasting impression. Consistently posting images, videos, and relevant discussions keeps your content fresh in users’ feeds. This attracts attention to new developments and enhances the visibility of your offerings.

Here’s how some leading companies use “always be launching” tactics:

CompanyTacticDescriptionTeslaCEO EngagementElon Musk actively uses platforms like X, sharing company progress and connecting directly with audiences.HubSpotContent OfferingsThis platform regularly publishes blogs, ebooks, and webinars.AtlassianAtlassian SolutionsProvides resources and support for users through community forums and detailed documentation.

Offering a consistent stream of content facilitates organic growth. You also cultivate loyalty and establish yourself within the community. Creating an ongoing conversation also helps define what product excellence is for your target audience.

Celebrating Wins and Showing Authenticity

Sharing your recent project successes keeps your potential customers informed. It’s beneficial for people to witness your enthusiasm for progress and growth, from major milestones to daily achievements. Acknowledging your team’s contributions extends engagement beyond followers.

It strengthens partnerships with collaborators who contribute to your business’s success, as well as fosters customer loyalty. Sharing all your content, will assist in creating build momentum. Communicating both significant and minor advancements promotes transparency. It fosters greater trust compared to focusing solely on pushing information.

Openly expressing enthusiasm and inviting conversations might contrast with conventional methods. It also might require extra effort to implement, especially at first when developing your launch strategy.

Interact and Listen, Don’t Only Share.

Move beyond simply publishing content to gather email updates to add to your list. Listening to discussions, feedback, and customer preferences shows you’re attentive. You gain valuable insights into market preferences to continue your continuous improvement efforts.

Prioritize fostering conversations over mere promotional pushes. Responding personally creates value in a deeper sense. Addressing the pain points of the users, creates loyal customers, and increases your organic growth.

Sharing More Than Services: Showing Knowledge

Don’t limit your discussions to just your products; educate customers about broader industry trends. Provide relevant details based on data, experiences, or alternative perspectives on recent news within your field. By adopting an educational approach, you enhance engagement and trust, even between product releases.

Taking calculated risks and remaining adaptable are valuable qualities. Taking those steps helps to solidify your authority and credibility in the field, leading up to a time launch and actual launch. By remaining informed about trends in the news, you can leverage the popularity, to assist in getting information out for your own launch days.

Thinking Beyond Short Bursts of Attention

Look beyond typical marketing activities and consider long-term customer relationship-building efforts. You might focus on expanding a loyal email list or nurturing communities on social platforms. As you continue creating content and adding to the platform, users can begin sharing things on their social media.

Engaging customers over months or years simplifies interaction, reduces costs, and alleviates pressure compared to short-term sales drives. Consider this before the initial launch plan to best serve the customers. Taking a broader perspective benefits your outreach efforts as well. Prioritize sustainable growth during development to extend beyond short-term marketing campaign initiatives.

Go Directly to Your Audience Facing Content

Previously, company promotions relied on securing attention through various publications, but now you can communicate directly with a vast audience. Your message is delivered instantly, unfiltered by intermediaries. It also leaves you more funding since you’re not paying outside sources and can move any budget upfront.

Direct communication offers greater control over narratives. This allows you to cultivate personalized relationships with users. It simplifies fostering customer support and enhances responsiveness in providing solutions, especially for the software engineers that are creating it.

Embracing independence from traditional promotional methods proves effective when navigating rapidly evolving markets. Once a problem comes up that needs to be solved, devops engineers can jump on it quicker, along with better customer service because you’re closer to the consumer. You may even gain new insight on what the global talent pool is thinking.

Putting Always Be Launching Into Practice

If these strategies for direct connection and authenticity resonate with your organization, consider developing a practical roadmap. Determine how this approach aligns with your current processes. It is often asked, by software engineers build teams and how can the constant changing be adapted.

Integrating frequent actions requires commitment and adopting alternative methods as your new standard. If you’re thinking that will be too difficult, rest assured that with these next steps it’s easier than ever. And if you’re questioning the time to start all this, many engineers build and grow once starting.

Here are a few steps to consider adding, and remember it’s a great way to get your name to the top of hacker news. It’s good to do something new and refreshing:

Begin with Small Steps. Share insights content frequently, but not incessantly.

Doing concise posts maintains high customer interest. This would work out perfectly when using things like product hunt.

Integrate Input Gathering. Schedule regular monthly intervals for reviewing comments and gathering feedback. Gathering and addressing things helps keep negative reviews at bay, along with having time feedback sessions.

Collecting audience insights informs decision-making when releasing new products. That also helps time people in different positions stay organized.

Set Realistic Benchmarks. Consider monitoring monthly email list growth to enhance visibility. Consider sharing insights as you continue.

Conclusion

You may have noticed a shift in your promotional activities, transitioning from large-scale, one-time efforts to smaller, more frequent initiatives. Changing approaches isn’t just about reacting to trends; it’s about strategically demonstrating commitment and cultivating market support for sustainable growth. When businesses change directions too fast, sometimes launches fail and businesses close, leaving many confused and without a company or service.

Embracing the “always be launching” approach offers new opportunities for achieving business objectives. This ongoing engagement supports your team, offering stability and flexibility in a challenging environment. Embracing this mindset allows you to shift focus on building relationships with people making it.

Scale growth with AI! Get my bestselling book, Lean AI, today!

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Navigating AI Literacy Requirements for Startup Success

Ever feel like you’re drowning in a sea of AI jargon, unsure what “high-risk AI” really means, or if your company even needs to worry about “AI literacy requirements?” You’re not alone. The EU AI Act is one of the first major laws dealing with artificial intelligence, and AI literacy requirements will likely become standard practice in many companies.

As someone who works with businesses daily, I’ve seen the confusion firsthand. Companies need a foundation in artificial intelligence principles and practical use cases, but sometimes don’t know where to start.

Table of Contents:Demystifying AI Literacy: It’s the Law NowWho Needs AI Literacy Training?It’s All About Context: Adapting AI Literacy to Your BusinessBreaking Down AI Literacy Requirements: Skills for the AI AgeThe Six Pillars of AI LiteracyBeyond Principles: Proactive Steps Toward ComplianceThe Consequences of Non-ComplianceEnforcement Isn’t WaitingFines and Real NumbersThe Reputational Fallout Might Be WorsePractical Steps: Building Your AI Literacy RoadmapImmediate Action: Gap Analysis, Policy FoundationsBuilding Knowledge: Diverse Training, Engaging ContentStaying the Course: Updates, Open DiscussionConclusionDemystifying AI Literacy: It’s the Law Now

The European Union is setting out to become a leader in AI regulations. Starting February 2, 2025, companies have AI literacy obligations that fall under Article 4 of the Act. This is particularly relevant as 82% of business leaders anticipate a shift to employees using new AI capabilities.

It affects any entity using or providing AI solutions. Whether your team handles internal operations, uses AI-powered customer service tools, or sells a 3rd-party AI system to consumers, understanding “AI literacy requirements” is crucial.

Gartner predicts that by 2027, over half of Chief Data Officers will fund AI literacy programs. The question then becomes: to whom should organizations provide these AI literacy measures?

Who Needs AI Literacy Training?

The scope of AI literacy requirements extends to a broad group. Think of it like data protection rules: Almost everyone needs basic training.

The regulation specifically names providers (those building or selling AI tools) and *deployers* (those using them) of AI. This includes internal staff and anyone acting on behalf of your business, such as your employees. Even HR departments can be trained to prevent biases when using AI for recruiting.

Dutch supervisory authorities stated that AI literacy must match the level of employees where the AI is used. Guidance was provided regarding bias and training employees to account for it.

It’s All About Context: Adapting AI Literacy to Your Business

The European AI Act doesn’t have a single requirement for organizations and their AI literacy needs. Here’s some context-specific guidance:

AI system risks and types: How people use or might be impacted by your company’s AI system is important. If it’s used to train your staff, it’s considered higher risk than other activities.Company resources: Providing AI literacy to the workforce depends on their current knowledge and company size.Key workers: Ensure that employees and anyone assigned to AI tasks have the knowledge to use AI. Non-technical workers are included in AI literacy training requirements, and your organization needs to prepare for that.Breaking Down AI Literacy Requirements: Skills for the AI Age

AI literacy goes beyond a surface-level understanding. Basic knowledge of an artificial intelligence system’s inner workings is involved.

It’s a set of capabilities enabling smart, informed use of AI tools, along with risk awareness for team members working with them. A good analogy is explaining AI literacy through key terms for individuals to better understand AI.

Six building blocks provide insight into this understanding.

The Six Pillars of AI Literacy

Various factors contribute to AI literacy, beyond just skills and technical requirements. These six AI literacy principles form a base for organizations to understand and comply with European law:

Recognition: Identifying AI. A non-tech tool will reveal that an AI system operates through processing.Know and Understand: Grasping the basics. This includes the surface definition of Artificial Intelligence and its mechanics. You’d understand how it generates output.Use and Apply. The focus here is on using an AI-powered application. After use, you can integrate your learnings to accomplish other jobs and tasks with AI systems.Evaluate. Analyzing AI systems’ outcomes involves understanding their implications. Once learned, you can make informed choices about artificial intelligence.Navigate ethically. Topics like AI safety and biases fall under ethics. Fairness is another principle to consider within AI literacy.Create. Some studies didn’t include “create” as a literacy component, but many disagree. This would involve designing the AI for the specific task you’re training it on.

Hands-on training provides understanding, ethical awareness, and evaluations for AI projects. While views differ, studies found common trends in successful factors for literacy requirements. Almatrafi et al. studied and evaluated 47 articles on AI principles from 2019 to 2023.

Beyond Principles: Proactive Steps Toward Compliance

Companies might wonder what concrete steps they can take beyond high-level definitions. Start simply by assessing your current situation.

Then, begin education internally and externally. Consider seeking help from outside specialists.

Outside counsel and firms can offer legal compliance guidance to help avoid violations, especially with complex AI systems. Internal surveys or focus groups might also be necessary.

The Consequences of Non-Compliance

Compliance requirements might seem intimidating. Here’s why it’s beneficial to address this sooner rather than later.

Ignoring AI literacy isn’t just about missing opportunities; it could become financially and legally costly. There are serious consequences involved.

Enforcement Isn’t Waiting

While immediate, heavy penalties for not fulfilling Article 4 obligations might not occur instantly, legal challenges can arise. Consider potential individual or collective action from affected users.

Formal laws regarding penalties are scheduled for later in the year. Before that, enforcement will focus on lawsuits by users for companies failing to meet obligations. As stated in a related piece of law, the product liability regime was enhanced for non-compliance.

Another aspect of liability related to artificial intelligence and organizational adherence is the proposed AI Liability Directive. Regulatory bodies could also take action now, such as demanding increased scrutiny in your higher-risk systems, potentially delaying project deployments.

Fines and Real Numbers

Although not immediately enforceable for literacy requirements alone, penalties can accumulate quickly by mid-2025.

The most significant AI Act violation carries potential penalties of up to €35 million or 7% of global annual turnover. Bans are coming for certain system behaviors, including AI with social scores. Prohibited AI practices will carry large administrative fines.

General-purpose AI models that show a risk could also bring about large fines for organizations. These are just a few of the many AI models that could get an organization in trouble without having proper training and literacy requirements.

The Reputational Fallout Might Be Worse

Imagine a product launch delayed or altered due to inadequate employee training for your industry. Consider the potential for public relations issues affecting employees and customers.

Brand erosion impacts financials and even talent pool attractiveness, worsening over time. Your compliance program and ethical considerations when using AI systems can significantly influence your firm’s reputation.

Practical Steps: Building Your AI Literacy Roadmap

It might be tempting to delay, waiting for things to become “official.” Starting with small steps today can make a difference in achieving compliance before regulatory inquiries begin.

There isn’t a single strategy for implementing AI literacy programs. Focus on these ideas to improve this task:

• The Role within EU AI Act requirements and the systems an entity handles.
• Type of artificial intelligence or risks within systems that employees use.
• Tailoring training around staff when understanding new literacy requirements. Consider internal roles in AI as well.

Immediate Action: Gap Analysis, Policy Foundations

Ask key workers how AI technology is used in operations (even indirectly). Conduct surveys to assess current knowledge.

Then, involve different internal groups—IT staff, HR experts, managers—to address risks together. This promotes “cross-functional ownership” early on, avoiding silo effects later when dealing with legal matters. Public authorities also need to pay attention to this and perform gap analysis to be prepared.

National competent authorities should also have literacy requirements met as well. Part of the AI Act’s requirements involve protecting fundamental rights so it’s something to account for too.

Building Knowledge: Diverse Training, Engaging Content

When designing an AI Literacy Program, align the content and tasks with your AI goals and staff skill level. If some are analyzing technical reports and assessing risk, they’ll benefit from targeted learning. Ensure courses are flexible, allowing individuals to learn at their own pace.

Provide your organization with various learning mediums, such as:

Video explanations on concepts.Tests and quizzes.Training for team coding activities and operations to learn the tools hands-on.

No worker wants text-heavy pages and long meetings for every training subject, so use various tools. Ensure all organizational activities are documented in your records.

Learning MediumDescriptionBenefitVideo ExplanationsShort videos explaining AI concepts.Engaging and easy to understand.Tests and QuizzesAssessments to check understanding.Reinforces learning and identifies knowledge gaps.Hands-on TrainingTeam coding activities and operational tasks.Practical experience with AI tools.

External experts with experience in developing AI literacy plans are also available. Organizations in specialized businesses, like the life sciences industries or financial services industries, should consider seeking external guidance.

Staying the Course: Updates, Open Discussion

Further guidance is likely to be published. For additional help with AI literacy and AI regulation, refer to these AI regulation insights. Laws will continue to evolve.

Treat AI training for organizations like employee onboarding: with periodic revisions and discussions as systems update. Make sure your team stays informed about developments, especially regarding the EU Artificial Intelligence Act and any guidance from the AI Office.

Conclusion

AI systems won’t automatically train workers and keep firms updated on European law regarding literacy practices and AI safety. Embrace proactive learning instead of reacting to non-compliance issues. Doing so will create growth opportunities when addressing AI literacy requirements.

Start training today. Consider these training courses as part of your risk management process, ensuring everyone is responsible for artificial intelligence. A sufficient level of ai literacy for organizations can also give the European Artificial Intelligence Board a model to follow for informed deployment of safe practices.

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Unlock Success: The Surprising Power of Asking Questions

Have you ever considered how asking the right questions can open up numerous opportunities? The power of asking questions is more than just being curious. It’s a fundamental skill that can reshape your personal and professional growth, fostering deeper insights, sparking innovation, and building more meaningful connections.

Table Of Contents:The Transformative Impact of CuriosityThe Science Behind QuestioningThe Power of Asking Questions in Professional Settings1. Enhanced Problem-Solving2. Improved Communication3. Increased Creativity and Innovation4. Better Decision-MakingOvercoming the Fear of Asking QuestionsThe Art of Asking Effective Questions1. Use Open-Ended Questions2. Avoid Leading Questions3. Follow Up with Probing Questions4. Use the Socratic Method5. Incorporate Reflective QuestionsThe Power of Asking Questions in Personal GrowthFAQsQ: How can I improve my questioning skills?Q: What should I do if I’m afraid to ask questions?Q: How do I ask questions without sounding accusatory?Q: What is “inquiry” as it relates to questioning?ConclusionThe Transformative Impact of Curiosity

We are all born with an inherent curiosity. As children, we often ask “why” and “how,” always wanting to understand the world around us.

Unfortunately, many people lose this inquisitive nature over time. We tend to focus on having answers instead of asking questions, often fearing that not knowing might make us seem less capable.

Embracing curiosity and asking questions can significantly impact both our personal and professional lives. It involves exploring new perspectives, challenging what we think we know, and nurturing innovation.

The Science Behind Questioning

Research indicates that asking questions profoundly affects our brains and actions. Questioning stimulates various brain areas, including those linked to memory, language, and problem-solving.

This mental activity can boost cognitive abilities and enhance creativity. A study in the journal *Neuron* showed that curiosity improves learning and memory.

Participants who were curious about a topic were more likely to recall related information, even if it wasn’t directly tied to their original question. For example items found in the HBR Store could contain further information and details on these studies.

The Power of Asking Questions in Professional Settings

At work, the power of asking questions is a crucial asset for both leaders and team members. Here’s how it can boost your career:

1. Enhanced Problem-Solving

By asking insightful questions, you can explore issues more deeply and identify root causes that might be missed. This method helps in creating more effective and innovative solutions. Thinking through some case selections might be a useful thought exercise.

2. Improved Communication

Questions clarify expectations, minimize misunderstandings, and keep everyone aligned. They also show that you’re actively listening and engaged, strengthening professional relationships.

Checking your email preferences can keep you updated on effective communication strategies.

3. Increased Creativity and Innovation

Asking “what if” questions and challenging norms can generate new ideas and methods. This type of curiosity-driven innovation can help companies stay competitive in fast-paced markets.

4. Better Decision-Making

By gathering various viewpoints through careful questioning, leaders can make well-informed decisions that take into account different perspectives and outcomes. Tools like the HBR Guide series can help to formulate good questions.

BenefitExample QuestionProblem-Solving“What factors might we be overlooking here?”Communication“Can you explain your thoughts on this?”Creativity“What if we looked at this problem differently?”Decision-Making“What are the possible risks and advantages of each choice?”

If needing more options, review resources for assistance to find an answer.

Overcoming the Fear of Asking Questions

Despite the advantages, many people are hesitant to ask questions, particularly at work. Overcoming this fear is essential to fully use the power of asking questions. Here are some methods to help:

1. Reframe your perspective: Consider questions as indicators of involvement and intelligence, rather than ignorance. It is also helpful to review Emotional Intelligence topics and other popular topics that may assist with communicating effectively.

2. Start small: Begin by asking questions in less critical situations to gain confidence. For help on managing teams and work-life balance, you could explore other areas on this site.

3. Prepare in advance: If you’re anxious about asking questions in a meeting, write down a few beforehand. Referencing the magazine archive might provide additional discussion points.

4. Practice active listening: Concentrate on understanding others, which naturally leads to more relevant questions. You can explore topic feeds and manage your account settings to personalize your learning experience.

5. Embrace the learning opportunity: Keep in mind that each question offers a chance to learn and develop. The big idea is always continuous improvement, and exploring HBR can be a useful first step to improving knowledge on a subject.

The Art of Asking Effective Questions

Not all questions are the same. To really utilize the power of asking questions, it’s crucial to create questions that generate meaningful answers and keep conversations flowing. The HBR Emotional Intelligence series can help you to understand how to better relate with others. Here are some strategies for asking better questions:

1. Use Open-Ended Questions

Choose open-ended questions instead of those that can be answered with a simple “yes” or “no.” These encourage deeper thinking and discussion. The library topic for emotional intelligence can also add additional ideas.

For example, instead of asking, “Did you enjoy the project?”, ask, “Which parts of the project did you find most difficult or fulfilling?” The article reprints from HBR press can help add more insight.

Consider how you are going to save this information in your orders account, or through your account settings email.

2. Avoid Leading Questions

Be cautious of questions that might direct the conversation or show your biases. Strive for neutrality to gain honest and useful feedback.

Checking the HBR guide can assist to avoid these questions.

3. Follow Up with Probing Questions

Don’t hesitate to explore further. Follow-up questions such as “Can you elaborate on that?” or “Why do you think that is?” can reveal important insights and show real interest.

Explore HBR to gather the information for further questions.

4. Use the Socratic Method

This method uses a series of questions to encourage critical thinking and clarify ideas. It works well in educational settings or when tackling complicated issues.

If needing support with how to apply this, search for information from Harvard Business School.

5. Incorporate Reflective Questions

Questions that prompt self-reflection can foster personal development and deeper understanding. For example, “What did you gain from this experience?” or “How might you handle this differently in the future?”

There are also minute managers on the emotional intelligence series which can help understand more about how asking these questions may result.

The Power of Asking Questions in Personal Growth

The advantages of questioning go beyond work. In our personal lives, asking meaningful questions can result in:

1. Stronger relationships: Asking questions demonstrates care and empathy, creating closer connections with others. This also relates to the topic of managing people that can be further investigated.

2. Enhanced self-awareness: Thinking about our thoughts and actions through self-questioning can boost personal development and emotional intelligence.

3. Better decision-making: By challenging our beliefs and looking at different viewpoints, we can make wiser choices in our personal lives. Harvard Business Review contains information that can help add ideas to further investigate and explore to build stronger relationships.

4. Continuous learning: Maintaining a curious attitude keeps us interested and receptive to new ideas and experiences. One could consider looking at global editions to gain an international viewpoint.

FAQsQ: How can I improve my questioning skills?

A: You can start by practicing active listening and focusing on understanding others. Try using open-ended questions and follow-up questions to gather more detailed responses.

To keep track of your improvement, note your progress. Be sure you understand digital accessibility options available as well.

Q: What should I do if I’m afraid to ask questions?

A: Reframe your thinking by seeing questions as a sign of engagement, not lack of knowledge. Start with small, less intimidating situations and prepare some questions beforehand. Referencing case selections could assist.

Q: How do I ask questions without sounding accusatory?

A: Use neutral language and show genuine curiosity rather than making assumptions. Instead of asking “Why did you do it that way?”, try “Can you explain your approach?”

Make sure you keep copyright permissions of information that may help.

Q: What is “inquiry” as it relates to questioning?

A: Inquiry is the act of seeking information by asking questions; it is a systematic investigation. It goes beyond simple questioning to actively pursue knowledge and understanding.

Using inquiry, especially with emotional intelligence, can make a large impact.

Conclusion

The power of asking questions is genuinely life-changing. By embracing curiosity and improving our questioning abilities, we unlock a world of opportunities, innovation, and growth.

Whether in our careers or personal lives, the right questions can promote better understanding, creative solutions, and stronger relationships. As we handle an intricate world, the skill to ask insightful, probing questions will be increasingly important.

So, be bold, challenge your assumptions, and maintain that youthful sense of wonder. Your next big breakthrough might be just one question away, don’t be afraid to ask questions.

Scale growth with AI! Get my bestselling book, Lean AI, today!

The post Unlock Success: The Surprising Power of Asking Questions appeared first on Lomit Patel.

Essential Brand Reputation Management Tips for Startups

Ever felt like you’re shouting into the void, wondering if anyone even *hears* your brand’s message? It’s a common frustration. Many leaders are secretly concerned they’re perceived poorly but maybe are afraid to admit it or talk about brand reputation management.

Think of brand reputation management as crafting the story people tell about your company when you’re *not* in the room. It is more than responding to negative reviews. It is shaping a perception that attracts loyal fans and creates a positive brand reputation.

Table Of Contents:What Exactly is Brand Reputation Management?Why You Should Prioritize How Your Brand is PerceivedKey Elements for Shaping Public OpinionThe Importance of Tracking Public PerceptionThe Right Way to RespondCrisis Brand Reputation ManagementBuilding Positive Connections with CustomersSEO to Help Spread Your Brand MessageShowcasing Customers’ Own Voices: How Word of Mouth Influences OthersWays to Gauge Online SentimentConclusionWhat Exactly is Brand Reputation Management?

Brand reputation management is about monitoring what people say about your brand, both online and off. You must respond to customer complaints, letting potential and current customers know you understand them. A brand reputation management strategy helps with growth and building a community that connects to your vision.

Think about brands like Apple or Tesla. These brands didn’t build customer loyalty by only chasing sales. They connected through experiences, great customer service, and an inspiring purpose, influencing public perception of a brand by proactively addressing potential concerns, as shared on a post titled, “Master the 3 Pillars of Brand Reputation Management” by Sprout Social.

Why You Should Prioritize How Your Brand is Perceived

It is simple. A positive reputation often boosts revenue. A study has shown a whopping 90% of consumers consider it essential that the companies they support align with them on relevant societal concerns.

Building customer trust helps a brand with long-term value, which many say is “priceless”. Forbes published “A Guide To Online Reputation Management For Brands.” They wrote about how proactively engaging can greatly help companies gain positive reviews.

Brand trust is crucial for long-term growth. By building a good reputation, your customers will trust your brand more. They will become loyal customers, especially when a company is aligned with them on societal causes.

Key Elements for Shaping Public Opinion

Many areas in the business contribute to brand sentiment, which is key to keeping things positive. From the support team to leadership, it should involve every business unit, like customer service. It might even mean that reputation management isn’t just the task of a single person, but that of every customer-facing employee.

These business areas work together by providing customer feedback, reporting any concerns or trends. This needs to include customer concerns and the perception in the current landscape. Having teams like support and marketing aligned makes things more seamless.

The Importance of Tracking Public Perception

Social listening helps identify potential issues *before* they spread. It gives context about who, where, and what needs to be done. It can provide real-time insights into the conversations happening around your brand.

Using these services to understand social mentions means identifying potential trends as they happen. With technology improving every day, social listening tools will improve and offer features like sentiment analysis.

Social Listening ToolsTool NameKey FocusBrand24AI-powered media monitoringBrandwatchConsumer intelligence, trend predictionGoogle AlertsBasic web monitoring (free)ReputationUnified feedback platform, customer data integration

Checking review sites regularly needs to become common practice. Keeping up-to-date and actively checking social profiles must become second nature.

The Right Way to Respond

Acknowledge problems and address customer criticism. Focus on making things right when people complain, especially on public platforms.

An effective brand reputation management process lets you do things with intention instead of being caught off guard. Thinking through messaging templates for common things is a wise approach. However, making things too canned and not caring might come off robotic.

The personal, human approach will go far to building brand connection with potential customers and customers. This is especially critical with addressing negative customer complaints, where empathy will help the most.

This should make you ask what does reputation management mean for business operations. This also will make companies question what the cost of having crisis reputation management will be.

Crisis Brand Reputation Management

Think of reputation management in advance. Many don’t have plans for how to handle something bad happening, like product issues, platform outages, or unexpected global events. This type of thinking will give brands direction about how to act *before* the need arises.

Here is how companies can manage negative reviews and still come across authentic:

Show empathy for any of their frustration or the perceived issue that might have happened.Be active with providing a potential path, reassurance, or possible resolution.Have continued open dialogue so there is a solution found or one worked on until solved.

Every business eventually makes some mistakes or unpopular decisions. If reputation is high, they might navigate through with very few things noticed. For businesses that are on unstable ground and not tracking conversations, those are big blows.

It could easily take down companies who are not connecting on a more personal level with current customers. Those companies are also likely not focused on brand management.

Building Positive Connections with Customers

It isn’t all crisis aversion. Customers love to be heard, so they should be asked regularly for their honest feedback. Soliciting customer feedback is essential to learn what can be improved upon.

Authenticity goes far these days. Even having a business rating between a 4-4.7 is ideal.

Why is this you ask? Having all positive “5 star” reviews will potentially make customers suspect something isn’t legitimate. Some things, though rare, just are not 100% every time.

SEO to Help Spread Your Brand Message

Around 68% of online experiences typically originate from a search engine. Being very intentional with how you manage your online perception will help. It’s important for local businesses to have a focus on this as much as big companies do.

Things like creating fresh and very targeted content. It must be answering people’s problems and needs to increase rankings. Here are other factors:

Be accurate on business info on websites, profiles, posts or anywhere it is published.Build high-quality link backs (do-follow and high authority preferred).Create unique, detailed products pages with search term included and search relevant (not only commerce) search term and also variations to not do things in a robotic way.

Many businesses struggle to get brand awareness where they want, which an intentional brand reputation management strategy would help with that. If you need help knowing where your brand reputation stands right now. Using all of the tactics explained here should do it.

Showcasing Customers’ Own Voices: How Word of Mouth Influences Others

It’s shown 69% of customers trust recommendations from their favorite social media influencers. It’s obvious why aligning with authentic voices through partnerships can create a strong connection. Brand awareness increases significantly. Shopify Collabs will find creators, help promote, bring on more customers and sales to help scale your company.

User-generated content is great also, such as an employee experience, or customers using something cool in real life. Those feel like true perspectives and more credible than a generic customer testimonial.

Ways to Gauge Online Sentiment

Having hard data, like reviewing the metrics of your brand reputation and understanding how to track brand awareness will keep you on the path.

Net Promoter Score (NPS) is a measurement that asks, how much would you recommend us to family or friends, if you don’t mind sharing it here?High levels would be scored a 9-10 and “promoter”.Middle, like 7-8 are “passive” ratings.On the lower side, scoring 1-6 is very concerning as its a “detractor” in this model.Tracking things like repeat customer rates and orders can provide clues. Are you getting a lot of feedback for refunds?Understanding social reach helps. You may need social media management and media management assistance for this.

If you have never heard of any of this information above before, then you are likely flying a bit too blind with perception management. You most likely need a reputation management tool and more active data. A small business likely needs online reputation management services in the same way.

Some owners or founders might not see or admit the importance of understanding data, even more reason to care. They should learn about industry standards and what’s expected by customers.

Conclusion

When there are a few critics, taking accountability is really smart to do, even on seemingly very small things. When companies make mistakes and aren’t forthcoming, this creates issues to have customers stay with the company if they want or feel valued enough. Customers put high value on a brand’s narrative being authentic.

Brand reputation management has to do with constantly building relationships with those that already bought from you. Those customer relationships will benefit a business for a really long time. By gaining the customers’ opinions, you can make sure your company meets customer satisfaction metrics and increase the lifetime value of customers by turning them into repeat buyers.

It becomes your competitive edge. Building a comprehensive brand strategy can help minimize reputational damage in the long run.

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