If you are not AI savvy, you can still thrive, don’t panic. However, to stay competitive in this fast paced economy, tech savviness will dominate. Those that can blend good tech and human skills, will thrive as the tech dominated economy will need strong emotional intelligence leadership. 

The digital revolution is in expansion mode, and artificial intelligence (AI) is at its front. With investments in AI expected to reach 5-7 trillion dollars in the short term, according to Open AI CEO Sam Altam, this transformative technology will influence industries and redefine the skills required for greater success and prosperity. While the rise of AI is intimidating to most, it presents unique opportunities for entrepreneurs who can adapt and anticipate the needs underpinning the future of business. 

Tech savviness: A new baseline for ambitious entrepreneurs

In an AI-dominated marketplace, a basic understanding of technology is no longer optional. Entrepreneurs must become digitally literate, embracing tools and platforms that leverage AI and machine learning capabilities. This includes understanding the potential of AI to automate tasks, analyze data, market products, and personalize customer experiences. Whether you're developing AI-powered products or utilizing AI to improve operations, tech savviness will accelerate businesses across the board. Adding skills to your team, via internship, staffing and new departments is essential to stay on top of your game. 

The timeless power of human-centric skills

While AI excels at processing information and automating repetitive tasks, it struggles to replicate the nuances and complexity of human interaction. This is where entrepreneurs and ambitious people with strong emotional intelligence skills have a massive advantage.

Emotional Intelligence: The ability to understand, use, and manage our emotions as well the emotions of others will boost your competitiveness and profitability. Emotionally intelligent entrepreneurs can navigate complex negotiations, build rapport with partners, read the room, and create more productive teams.

Sales and Persuasion: AI may automate aspects of sales and marketing, but the art of persuasion remains a human led comparative advantage. Entrepreneurs that can connect with customers on an emotional level, understand their needs, and communicate the value of their products or services will thrive.

Risk Management: AI can assess risks based on data and probabilistic models, but human judgment is essential for interpreting that data and making informed decisions in today’s uncertain situations and geopolitically tense international relations. Socially competent people are very effective at understanding risk and preventing crises from happening.

Adaptability: The global market is constantly changing, and entrepreneurs must be able to pivot and adapt to new technologies, market trends and crisis prone economies. This is easier done if you can shape the minds of members of your team and build consensus. 

Building the team of the future

Few entrepreneurs possess every necessary skill. Therefore, building a diverse team that complements your strengths and fills any gaps is crucial. If you're not a tech expert, partner with someone who is. If your focus is on product development, ensure you have a strong sales and marketing team. The key is to recognize your limitations and surround yourself with people who can help you achieve your goals. If your team is not diverse, and not women inclusive, your risk of failures is higher.

Embracing the AI-powered future

The rise of AI shouldn't scare you but rather help you accelerate innovation within your business. AI should also not be seen as a “must have or die”. Take incremental steps, to study where AI capabilities can be streamlined into your business, unlock new markets, and deliver personalized experiences to your customers. In this digital age, the most successful entrepreneurs will be those who can blend tech savviness with the irreplaceable power of human connection.

In conclusion

The future of entrepreneurship is a hybrid one, where human ingenuity and artificial intelligence work hand in hand. By mastering the essential skills of this tech rich time, you can position yourself for success in a digitally distracted world. Remember, the most valuable asset you bring to the table is your personal human character, your ability to connect, empathize, and influence others. 


All information posted is for educational and information use only, and it should never replace professional advice. Should you decide to act upon any information in this article, you do so at your own risk.

Editors’ Picks

EUR/USD struggles near 1.0550 amid dour mood

EUR/USD struggles near 1.0550 amid dour mood

EUR/USD struggles near 1.0550 in the European morning on Thursday. The pair faces headwinds from risk-off flows due to rising geopolitical conflict between Russia and Ukraine and worries over the potential US tariffs on the EU. ECB- and Fedspeak are awaited. 

EUR/USD News
GBP/USD trades around 1.2650, upside potential seems limited

GBP/USD trades around 1.2650, upside potential seems limited

GBP/USD keeps its range near 1.2650 in early European trading on Thursday. The pair's sidetrend could be attributed to the softer US Dollar and a risk-aversion market environment. Traders stay cautious amid rife geopolitical tensions and a light economic calendar. Fedspeak eyed. 

GBP/USD News
Japanese Yen reverses Wednesday's losses against USD after BoJ Governor Ueda's comments

Japanese Yen reverses Wednesday's losses against USD after BoJ Governor Ueda's comments

The Japanese Yen adds to its modest intraday gains, dragging the USD/JPY pair to a fresh daily low, around mid-154.00s heading into the European session on Thursday. BoJ Governor Kazuo Ueda did not comment on monetary policy, though left the door open for another interest rate hike as soon as next month. 

USD/JPY News

Editors’ Picks

EUR/USD struggles near 1.0550 amid dour mood

EUR/USD struggles near 1.0550 amid dour mood

EUR/USD struggles near 1.0550 in the European morning on Thursday. The pair faces headwinds from risk-off flows due to rising geopolitical conflict between Russia and Ukraine and worries over the potential US tariffs on the EU. ECB- and Fedspeak are awaited. 

EUR/USD News
GBP/USD trades around 1.2650, upside potential seems limited

GBP/USD trades around 1.2650, upside potential seems limited

GBP/USD keeps its range near 1.2650 in early European trading on Thursday. The pair's sidetrend could be attributed to the softer US Dollar and a risk-aversion market environment. Traders stay cautious amid rife geopolitical tensions and a light economic calendar. Fedspeak eyed. 

GBP/USD News
Gold price retains its bullish bias near one-week high amid rising geopolitical risks

Gold price retains its bullish bias near one-week high amid rising geopolitical risks

Gold price maintains its bid tone heading into the European session and currently trades around the $2,660 level, or a one-and-half-week high touched earlier this Thursday. This marks the fourth straight day of a positive move and is sponsored by geopolitical risks stemming from the worsening Russia-Ukraine war.

Gold News
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu (SHIB) trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.

Read more
Why Nvidia’s story is far from over

Why Nvidia’s story is far from over

Nvidia delivers another earnings beat: Nvidia exceeded expectations with $35.08 billion in revenue, a 94% year-over-year increase, driven by strong performance in its data center business, which more than doubled to $30.8 billion.

Read more

RECOMMENDED LESSONS

7 Ways to Avoid Forex Scams

The forex industry is recently seeing more and more scams. Here are 7 ways to avoid losing your money in such scams: Forex scams are becoming frequent. Michael Greenberg reports on luxurious expenses, including a submarine bought from the money taken from forex traders. Here’s another report of a forex fraud. So, how can we avoid falling in such forex scams?

What Are the 10 Fatal Mistakes Traders Make

Trading is exciting. Trading is hard. Trading is extremely hard. Some say that it takes more than 10,000 hours to master. Others believe that trading is the way to quick riches. They might be both wrong. What is important to know that no matter how experienced you are, mistakes will be part of the trading process.

Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Strategy

Money Management

Psychology