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“Does my insurance agent, who operates his own small business, need machine learning? No” If he has a fixed mindset you are right. But if he has a growth minds
by victor106 9y ago
“Does my insurance agent, who operates his own small business, need machine learning? No”
If he has a fixed mindset you are right. But if he has a growth mindset and has the intellectual curiosity to learn what ML is and if he can apply it to his business and finds out that he could maybe he can increase his business 10 fold. Even if you take a stance that he is not interested in growing just the fact that living in this age and time gives him(or his kids) the option to learn/play with powerful tools at a click of a button is worth appreciating on so many levels
- PeterisP 9y agoA major difference here is simple economies of scale. E.g. a particular technology feature might cost $100k to implement in your business and get you a 10% revenue increase. For a large business, doing so is a no-brainer; for a one-person business doing the same thing is clearly a waste of money and effort. And there are many things like that, causing the bifurcation between the needs and common practices in large companies vs small.
- victor106 9y agoThat’s exactly what today’s cloud technologies bring to any small business. You don’t have to invest $Y to know if you can increase profits by x%. You can invest $Y/10 (even less in some cases) to figure out if this works. If you zoom out and think about it for a second what most technology is doing today is making a small guy look big