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9 Best AI Business Plan Generators (May 2024)

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In today's fast-paced business world, having a well-crafted business plan is essential for securing funding, guiding decision-making, and charting a course for success. However, creating a comprehensive and persuasive business plan can be a daunting task, especially for entrepreneurs and small business owners who may not have extensive experience in this area. Fortunately, the rise of AI tools has improved the creative process, making it more accessible, efficient, and effective than ever before.

We will explore the top AI business plan generators that can help you create a winning plan for your venture.

1. Upmetrics

How to Write a Business Plan? | Business Plan Tutorial | Step by Step Guide

Upmetrics is an AI-powered business plan tool that guides individuals and small businesses through the process of writing a top-notch business plan. With its user-friendly platform and step-by-step guidance, Upmetrics makes it easy for anyone to create a professional-quality plan, regardless of their level of business expertise.

The tool offers a wide range of features, including 400+ business plan samples, AI-assisted writing, and financial forecasting up to 7 years. Upmetrics also provides an AI-generated pitch deck feature, allowing users to create a compelling presentation in less than an hour. The platform's flexibility and adaptability make it suitable for various industries, from tech startups to retail stores and service businesses.

Key features of Upmetrics:

400+ business plan samples
AI-generated business plans (Entirely AI-generated)
Financial forecasting up to 7 years
AI to create pitch deck in less than an hour
Free guides and educational resources
Real-time cloud storage
Easy collaboration and sharing option

Visit Upmetrics →

Plus AI is an AI-powered tool that specializes in creating professional, well-designed presentations, making it an ideal choice for crafting business plans. The platform integrates seamlessly with Google Slides, allowing users to access built-in editing and collaboration features.

With Plus AI, users can generate a comprehensive business plan outline based on a brief description of their business, which can then be easily edited and rearranged to suit their specific needs. Plus AI offers the flexibility to generate slides one at a time or create an entire presentation in a single step, making it a versatile tool for businesses of all sizes. The platform also provides a free trial, allowing users to explore its features before committing to a paid plan.

Key features of Plus AI:

Direct integration with Google Slides for easy editing and collaboration
Customizable slides that can be edited, revised, and themed after generating a first draft
Slide-by-slide or full presentation generation options
Free trial available for users to try Plus AI before committing to a paid plan

Use discount code: UNITEAI10 to claim a 10% discount .

Read Review →

Visit Plus AI →

3. Storydoc

Storydoc is an AI-powered business plan generator that simplifies the creation of interactive and persuasive business plans, without requiring any design skills. The platform offers a user-friendly interface with a wide selection of interactive slides tailored for startups and new businesses, which can be easily customized to align with the user's vision and requirements.

Storydoc's AI Presentation Designer creates scroll-based, web-friendly, and mobile-optimized presentations, complete with performance analytics. The platform also ensures the security and privacy of user data, adhering to stringent security protocols and industry best practices. With Storydoc, users can create engaging presentations that capture the attention of investors and stakeholders.

Key features of Storydoc:

AI Business Plan Presentation Designer for scroll-based, web-friendly, and mobile-optimized presentations
Secure and reliable platform that ensures the security and privacy of user data
Interactive slides that can be customized to align with the user's presentation vision and requirements
Mobile-optimized presentations that look great on any device
Integrations with Calendly, Loom, YouTube, Typeform, and more for added functionality

Visit Storydoc →

4. 15minuteplan

15minuteplan

15minuteplan.ai is an AI-powered generator that streamlines the creation process, allowing entrepreneurs and small to medium-sized enterprises (SMEs) to produce effective documents in just 15 minutes. Designed to make business planning universally accessible, the platform caters to users of all levels of business or writing experience.

With its advanced AI algorithms, 15minuteplan generates comprehensive, up-to-date plans based on the latest market trends and best practices. The platform also features a unique ‘Talk To Plan' functionality, enabling users to dictate specific changes or additions, which are then seamlessly integrated by the AI. Additionally, 15minuteplan supports various languages, making it accessible to users worldwide.

Key features of 15minuteplan:

AI Creation based on the latest market trends and business best practices
Talk To Plan functionality for easy dictation of changes or additions
Multilingual support for 10+ languages, with more being added continuously
User-friendly interface for inputting essential business information
Downloadable Word document for easy sharing and modification

Visit 15minuteplan →

5. Notion AI

Notion AI is an AI-powered tool in Notion that simplifies the creation of comprehensive business plans, emphasizing an organized and structured approach to business strategizing. The platform offers a wide range of features designed to streamline the business planning process, including AI-driven content generation, rewriting, shortening, expansion, and tone adjustment.

Notion AI seamlessly integrates with the Notion platform, allowing users to access features such as database creation, organization, and management, as well as collaboration and sharing options. With Notion AI, users can create tailored content that aligns with their business objectives and voice, while significantly reducing their workload in crafting compelling narratives that secure buy-in from investors and stakeholders.

Key features of Notion AI:

AI-driven content generation, rewriting, shortening, expansion, and tone adjustment
Integration with Notion for database creation, organization, and management
Collaboration and sharing features for inviting team members and stakeholders
Real-time cloud storage for secure and accessible data
Streamlined business planning process for crafting compelling narratives

Visit Notion AI →

6. Beautiful AI

Beautiful AI

Beautiful AI is an AI-powered presentation software that enables users to create stunning business presentations and plans in no time, without requiring any design skills. With this platform, users simply need to add text, and Beautiful AI will transform the content into elegant presentation slides, eliminating the need for manual image resizing or content placement.

The business plan template can be accessed by logging in, and users will be prompted to fill out a few key details about their business. Beautiful AI offers a wide range of features, including 65+ smart slide templates, custom presentation themes for brand consistency, and hundreds of customizable starter templates, ensuring that users never have to start a presentation or business plan from scratch.

Key features of Beautiful AI:

65+ smart slide templates with pre-designed slide galleries
Brand consistency with custom presentation themes
Hundreds of customizable starter templates
Designerbot for creating first drafts based on user requirements
Effortless content transformation into elegant presentation slides

Visit Beautiful AI →

7. Wordkraft AI

Wordkraft AI is an AI-powered web application that generates optimized, authentic, and high-quality content for various needs. Utilizing the powerful large language model GPT-3.5, Wordkraft AI specializes in creating content tailored to specific requirements, including professional and well-organized business plans. This tool helps users efficiently develop strategic documents that meet their unique business goals.

The platform offers a template that can be used to create a draft by providing essential details about the business. Wordkraft AI's AI capabilities assist users in creating content that aligns with their business objectives and voice, while also supporting collaboration and sharing features. With real-time cloud storage and seamless integration with the Wordkraft platform, Wordkraft AI is a valuable asset for business planning and presentations.

Key features of Wordkraft AI:

Integration with Wordkraft for database creation, organization, and management
A template for creating drafts by providing essential business details

Visit Wordkraft AI →

Bit AI is an AI-powered platform designed to enhance the creation of interactive and collaborative strategic documents. It features powerful wikis and AI writing tools that help in crafting well-structured and engaging content. With Bit AI, users can produce visually appealing and informative documents that effectively communicate their strategic vision.

The platform supports real-time collaboration, allowing team members to work together seamlessly on documents and incorporate feedback efficiently. Bit AI also ensures that documents are fully responsive, adapting to different devices for optimal accessibility and readability. Moreover, users have the option to create private documents, enhancing data privacy and security.

Key features of Bit AI:

Interactive and collaborative business plans for fostering teamwork and creativity
AI writer features for crafting clear and coherent content
Real-time collaboration for seamless teamwork and feedback integration
Fully responsive documents that adapt to different devices
Private document sharing for data privacy and security

Visit Bit AI →

9. Simplified

Simplified is an all-in-one AI-powered platform that offers a comprehensive solution for managing marketing efforts and crafting engaging content, along with a unique feature for creating a business plan. The platform's AI Business Plan Generator is designed to assist entrepreneurs and small business owners in rapidly producing professional and detailed strategic documents.

With its advanced AI capabilities, Simplified provides accurate growth forecasts and investment strategies, enabling users to make well-informed decisions for their ventures. The platform offers customization options to ensure that the final output aligns with the user's vision and goals. Additionally, it supports collaboration, allowing team members to contribute effectively to the document. Integrated marketing tools further establish Simplified as a versatile solution for both strategic planning and marketing needs.

Key features of Simplified:

Efficient business planning with a professional and comprehensive plan created in just a few clicks
Accurate growth forecasts and investment strategies provided by AI capabilities
Customization options to align the business plan with the user's vision and goals
Collaboration features for working with team members on a comprehensive and accurate plan
Integrated marketing tools for a cohesive and effective marketing strategy

Visit Simplified →

Creating the Best Business Plans with AI

The rise of AI-powered business plan generators has changed the way entrepreneurs and small business owners approach the crucial task of planning for their ventures' success. By leveraging the top 10 AI generators discussed in this blog post, users can streamline the creation process, ensure professional-quality plans, and access valuable insights and forecasts.

From Upmetrics' user-friendly platform and step-by-step guidance to Simplified's all-in-one solution for business planning and marketing, these AI-powered tools cater to the diverse needs of businesses across various industries. By harnessing the power of AI, entrepreneurs can save time, effort, and resources while creating compelling and persuasive plans that attract investors and guide their decision-making processes.

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Alex McFarland is an AI journalist and writer exploring the latest developments in artificial intelligence. He has collaborated with numerous AI startups and publications worldwide.

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The Top 10 AI Business Plan Generators: A 2024 Guide

A Free Business Plan Template

Ajay Jagtap

January 3, 2024

16 Min Read

Let’s face it, drafting a business plan has never been a stroll in the park. Thanks to AI business plan generators, the process has become much easier and faster.

But, with only a few worthwhile options available, it’s challenging to find the right business plan generator that suits your requirements.

Don’t worry; we’ve got you covered. Here’s a list of the 10 best AI-based business plan generators to help you get started.

Sounds interesting? Let’s dive right in.

What is an AI Business Plan Generator?

AI business plan generator , in simple words, is software that uses AI algorithms to create a business plan based on user inputs.

Usually, these generators use natural language processing (NLP) algorithms to produce written content tailored to the specific needs of your business.

It’s a go-to solution for entrepreneurs and small business owners to build an investment-ready business plan without spending a fortune on expensive consultants.

Let’s take a closer look at these 10 AI-based business plan generators.

10 Best AI-based Business Plan Generators

1. upmetrics.

Upmetrics is the most efficient and reliable AI-powered business plan generator helping new-age entrepreneurs create comprehensive business plans with its advanced AI capabilities.

With Upmetrics AI Assistant , writing a business plan is now easier than ever.

It can help you generate text, rewrite content, shorten or expand on it, and it also allows you to change its tone.

The subscription includes 400+ fully customizable sample business plans , video tutorials, well-written documentation, and guides to ensure that you are on the right track.

So, how does this Upmetrics AI assistant work?

Well, it’s quite simple. Once you input text into a section of your plan using the Upmetrics business plan editor, you can choose the “Write with AI” option for AI assistance.

Or you can simply auto-write the entire text by promoting what you want to include in that section.

There’s a drop-down menu where you can choose from Auto Write, Auto Improve, shorten, expand, and Professional, persuasive, and academic tones to update your text.

Here is an extended list of features that Upmetrics AI assistant can provide:

AI-powered text generation to write your business plan.
Content rewriting feature to polish or enhance content quality.
Content shortening option to briefly describe the context.
Expand upon your idea and introduce new concepts.
AI-powered assistant to help adjust the tone of your writing.
Accurate & reliable information depending on prompted information.
Real-time updates and cloud storage, eliminating the risk of data loss.
Intuitive, seamless, and responsive user interface.
Check and correct grammatical errors and spelling mistakes.
Business resources, video tutorials, and guides to help get started.

Check out Upmetrics’ pricing plans:

Remember, only Upmetrics premium users can access the AI assistance feature. Refer to a pricing page for more information.

The most helpful feature was to make a business plan out of a simple idea. Thankful for all the tools provided, especially AI which did a great impact on my work .

Create visually appealing business plans with our

AI Business Plan Generator

Plans starting from $7/month

2. Notion AI

As we all know, Notion is a productivity and note-taking app. It’s been around for a long time helping individuals and professionals create to-do lists, manage tasks & projects, and more.

Notion Labs Inc. has recently launched the all-new Notion AI which maximizes Notion’s existing capabilities with AI advancements.

Though it’s not a specifically developed AI business plan generator like Upmetrics, writing a business plan is one of many things you can do with Notion AI.

It can help you summarize text, offer key takeaways from your research, fix spelling & grammar, translate your text, edit tone & voice, and more.

Here’s a list of the pros and cons of Notion AI you should consider before purchasing.

Smart suggestions: Notion AI can provide intelligent suggestions based on user behavior.
Automation: It can help you automate various tasks reducing manual efforts.
Time-saving: Notion AI can produce content more quickly compared to human writers.
AI limitations: AI has its limitation, so it may not always provide accurate results.
Learning curve: understanding the platform with AI can be a steep learning curve.
Privacy concerns: Notion AI processes user data to personalize suggestions that may raise privacy concerns.

Check out the pricing plans for Notion AI. You may visit their pricing page for detailed information.

Copy AI is an AI-powered writing tool that uses NLP algorithms to turn your raw text into a persuasive copy. They cater to a wide range of users with 90+ tools and templates.

You can use Copy AI’s free business plan templates to write the initial draft of your business plan.

You may click here and log in to access the business plan template. Then, you’ll be prompted to fill out a few key details about your business.

This information may include details, such as business name, target market description, problems your business intends to solve, revenue model, etc.

Depending on your requirements, you may also select a friendly, persuasive, or professional tone for your content.

Pros and Cons

Here’s the list of pros and cons of using Copy AI you should consider before purchasing.

Ease of use: It has a simple and easy-to-use user interface.
Option to select specific tones: Users can select the specific tone for content. E.g., professional, friendly, etc.
Supports AIDA framework: Follows AIDA framework to create content tailored to the target audience.
Need lots of fact-checking: AI may sometimes produce incorrect information.
Highly random information: It may sometimes provide random information.
Generating long-form content can be frustrating: You may want to take one section at a time.

Copy AI has a free plan, but it only comes with 10 credits, so you will definitely need a subscription moving forward.

4. Beautiful AI

Beautiful AI is an AI-powered presentation software that helps individuals create exquisite business presentations in no time—with no design skills.

All you need to do is add text, and your content will transform into elegant presentation slides—no image resizing, no content placement, nothing. You may click here and log in to access the business plan template. Then, you’ll be prompted to fill out a few key details about your business. Here is why beautiful AI is a top pick for stunning presentations and business plans:

65+ smart slide templates with pre-designed slide galleries.
Brand consistency with custom presentation themes.
Hundreds of customizable starter templates.

The best part about Beautiful AI is you never need to start a presentation or business plan from scratch. Ask Designerbot about the type of presentation you need, and it will create a first draft.

Here’s the list of pros and cons of Beautiful AI you should consider before purchasing.

Ease of use: Anyone with less or no design skills can create presentations using Beautiful AI.
Hundreds of starter templates: The platform has 100+ starter templates to get started.
AI-powered designs: Beautiful AI uses Artificial Intelligence to suggest layouts, fonts, and themes.
Limited customization: AI-generated templates may not always suit your requirements.
Limited functionality: AI can create professional-looking documents but may lack advanced animation.
No free plan: Beautiful AI does not have a free plan, so you must pay for membership.

Beautiful AI doesn’t have a free plan, but a free trial is available. Check out its pricing plans.

5. Wordkraft AI

Wordkraft is an AI-powered writing tool that helps users create well-written and optimized content while saving time, money, and resources.

It uses GPT-3, one of the most sophisticated autoregressive language models available in the market, to generate AI content.

You can use Wordkraft’s free business plan template to create the first draft of your business plan.

Then, you’ll be prompted to fill out a few key details about your business. This information may include details, such as business name, goals, strategies, products and services you offer, financial projections, etc.

It also has a few advanced options that include—language, tone of voice, creativity level, and the number of variants needed.

User-friendly Interface: Wordkraft has a user-friendly interface that is easy to use and navigate.
Advanced options: It has advanced options to change language, tone of voice, and creativity.
Time-saving: AI can produce content more quickly than human writers.
Limited creativity: While Wordkraft AI can save time, it may not be as creative as humans.

Wordkraft AI has a free plan but comes with a 1,000-word limit, so you will definitely need a subscription moving forward.

You may visit Beautiful AI’s pricing page for detailed information.

A Bit AI is a cloud-document collaboration document and management platform that helps users create, share, and track digital documents.

The AI-powered tool allows users to add images text videos, cloud, and music files to their documents.

You can use Bit AI’s free business plan template to get started. Key benefits of using Bit AI to create a business plan:

Furthermore, you can embed Bit documents onto any website; you can interact with these documents and see them in their entirety.

Here’s the list of pros and cons of Bit AI you should consider before purchasing.

Collaboration: You can collaborate with your team to work on your business plan.
Pre-designed templates: a range of pre-designed templates to help you get started.
Automation: Bit automatically automates redundant and repetitive tasks.
Limited customization: Customization in pre-designed templates is limited.
No writing assistance: While Bit can provide templates for your business plan, it doesn’t provide any writing assistance.
No offline access: Bit AI is a cloud-based platform, so you must have a reliable internet connection to access documents.

Check out the pricing plans for Bit AI. You may visit their pricing page for detailed information.

7. Simplified

Simplified is an AI platform that uses artificial intelligence to help users generate and publish content quickly.

It’s not primarily an AI business plan generator, but it provides AI business plan templates that can be used to draft a business plan.

Besides business plan writing assistance, Simplified specializes in generating instant copies, creating long-form content, and developing visually appealing images and videos.

Here’s the list of pros and cons of Simplified you should consider before purchasing.

Accessibility: the tool is easily accessible even for non-technical users.
Recommendations: Simplified offers some intelligent suggestions based on the information provided.
Time and cost efficiency: It can help you save both time and money when writing a business plan.
Lack of customization: This tool can be valuable for beginners but not for detailed business planning.
Data dependence: The results heavily rely on the data. A lack of data may result in low-quality responses.
Limited understanding: the tool may lack industry dynamics and market nuances.

Check out the pricing plans for Simplified AI. You may visit their pricing page for detailed information.

8. Writecream (ChatGenie)

Like Wordkraft and Copy AI, Writecream is an AI-powered writing assistant that uses NLP algorithms to generate text-based responses to your query.

You can use Writecream’s free business plan generator to write the initial draft of your business plan. You may log in and select ChatGenie from the dashboard to kickstart the writing process.

Apart from business plan writing, you can use ChatGenie to generate textual content like cold emails, long-form blog posts, marketing copies, and digital ads.

Let’s have a look at the pros and cons of using Writecream for business plan writing.

Collaboration: Team members and advisors can collaborate in real time with Writecream.
Cost-effective: Writing a business plan with Writecream is less expensive than hiring consultants.
Not for detailed business planning: this isn’t suitable for detailed business planning with long-term financial forecasting.

Check out the pricing plans for Writecream. You may visit their pricing page for detailed information.

9. Cookup AI

Cookup AI is an ongoing database of AI tools where people can create and submit ChatGPT prompts for others to use. The platform has many AI tools for various tasks including SEO, programming, social media marketing, blogging, business planning, and more.

While it can help you create a decent business plan, you must provide a detailed description of your business and other pertinent information.

Remember, just like ChatGPT, this tool will only help you write a business plan. You will still need a business plan software or designing tool to structure this information and create a business plan.

While CookUp is 100% free to use, it may not be an ideal choice for detailed business planning & financial forecasting.

Here’s a list of the pros and cons of Cookup AI you should consider before purchasing.

Accessibility: Easily accessible tool, even for non-technical users.
Free to use: Cookup AI is a 100% free-to-use AI tool.
Limited information: CookUp AI’s response to queries is relatively limited compared to tools like Upmetrics.
Limited customizations: This tool may not be an ideal option for comprehensive business planning.

10. ChatGPT—A Free Alternative

ChatGPT is the most efficient and reliable yet free AI chatbot online. It is an AI language model trained by OpenAI, using deep learning algorithms to generate human-like responses to text-based prompts.

Technically, ChatGPT is not a business plan generator, nor does it offer any business plan templates.

Still, it’s on the list because writing a business plan is one of many things; you can do using ChatGPT—that too for free.

We have created a detailed guide on using ChatGPT to write a business plan to help you get started.

While ChatGPT is entirely free to use, there is a $20 monthly fee for ChatGPT Plus.

You don’t have to go for a paid version; ChatGPT is just fine for you to get started. We have created a detailed guide on using ChatGPT to write a business plan to help you get started.

Learn more Use ChatGPT to write your business plan

Here’s the list of pros and cons of ChatGPT you should consider before purchasing.

Cost-effective solution: Writing a business plan with ChatGPT is more cost-effective than hiring expensive consultants.
Efficiency: ChatGPT can efficiently organize data, generate financial plans, develop marketing strategies, and more.
Limited context: It may have limited context about your business. You can train the model before prompting it to write.
Lack of empathy: An AI language model may lack emotional intelligence and compassion.

That’s it. That was the list of the 10 best AI business plan generators. Let’s discuss how to take the final call—choose a business plan generator.

How to Choose an AI Business Plan Generator Software?

Still, trying to figure out how to choose an AI business plan generator? You should consider a few crucial factors before making the final call.

Features: Understand your required features in an AI business plan generator. E.g., writing assistance, visual templates, etc. For instance, Copy.AI, Wordkraft, and ChatGPT may help you write content for your business plan, but they won’t offer the visual templates that BIT AI and Beautiful AI can.
Pricing: Look for AI-based business plan generators that offer the features you require at affordable prices.
Ease of use: Choose a tool that is easy to use and navigate for someone with basic knowledge of writing and editing.
Reviews and testimonials: Check review websites like Capterra and Trustpilot for reviews and testimonials about such tools.

That’s it for today. Keep these factors checked before choosing an AI business plan generator, and you will be alright.

In a nutshell, these AI-based business plan generators can create a foolproof business plan in a few hours that used to take days—maybe even weeks.

AI has its limitations, so make sure you don’t rely heavily on it. Therefore, combining AI and human expertise in a holistic approach to planning would be a smart move.

Pick one of these tools, create a business plan, and take your business to new heights.

Build your Business Plan Faster

with step-by-step Guidance & AI Assistance.

Frequently Asked Questions

Which ai can write a business plan.

There are only a few certain AI writing tools that can help you write a business plan. Here are some of the most trusted AI business plan writing assistants.

Wordkraft AI

What are the benefits of using AI-based business plan generators?

The benefits of using AI-based business plan generators are enormous. The following are just a few of the major ones.

Time saver: Using AI business plan generators, you can write a business plan in minutes, which would normally take a human several hours or days.
Cost-effective: Hiring an expert business plan writer or consultant can be expensive. AI business plan writing tools are the most cost-effective alternative for small business owners.
Access to Data: AI tools like ChatGPT can access various data sources, so conducting market research or finding valuable industry insights is way easier with Artificial Intelligence.

Some of the other benefits of using AI-based business plan generators may include increased efficiency, customization, and user friendliness.

How do AI business plan generators work?

AI Business plan generators usually use natural language processing (NLP) algorithms to generate text-based responses to prompts or instructions. Some of the most popular AI writing tools, such as Copy AI, Wordkraft AI, and Writesonic, use the GPT-3 module for AI writing.

Are there any free AI-based business plan generators available?

AI-based business plan generator tools like Copy AI and Wordkraft AI have free plans but with limited functionalities. If using these tools, you will definitely need a subscription moving forward.

However, you can use ChatGPT; it is free and the most reliable AI language model to help you write a business plan.

Can the AI business plan generator provide guidance on market research?

Yes, AI business plan generators like Upmetrics will soon be able to guide your market research to help you create a comprehensive and well-organized market research section.

Upmetrics is developing an AI business planning chatbot; you can ask it for feedback, suggestions, or guidance about your plan. Learn more about Upmetrics AI Assistant .

Is technical knowledge required to use an AI business plan generator?

No. If you are using an AI tool like Upmetrics, you don’t need any technical knowledge to be able to efficiently use the tool and create a detailed plan.

About the Author

Ajay is a SaaS writer and personal finance blogger who has been active in the space for over three years, writing about startups, business planning, budgeting, credit cards, and other topics related to personal finance. If not writing, he’s probably having a power nap. Read more

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Harnessing the Power of AI: A Comprehensive Guide to Crafting a Dynamic Business Plan

If you have ever tried to write one, you know just how challenging crafting a business plan can be. There’s a lot of foresight, strategic thinking, and meticulous attention to detail involved. You have to understand what people want, figure out how to fund it, and explain your big ideas clearly. Entrepreneurs have to do all this while dealing with the everyday chaos of running a business.

To this end, one of the most useful applications of AI has been its ability to be your thinking- assistant- adding structure to your thoughts- and creating frameworks to help you navigate through complex problems.

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Why Use AI to Write Your Business Plan?

The arrival of artificial intelligence has revolutionized how you gather and put together information. AI’s predictive analytics and data-driven insights help businesses make more informed decisions, often leading to a significant competitive edge. Here are some of the competitive advantages of integrating AI into business planning processes:

Enhanced accuracy in market analysis and financial projections.
Real-time adaptation to market changes and customer behavior.
Personalized strategies that align closely with company goals and customer needs.

By leveraging AI, businesses can visualize their business plan in new ways Now data can be used as a strategic asset that drives growth and innovation. Writing a business plan is no longer just about a document to present to investors; it’s about creating a dynamic blueprint that evolves with your business and the market.

Use AI as your thinking Assistant

The ability to automate complex processes, gain insights from big data, and enhance decision-making can help the way you think about designing your business. This includes streamling operations, predicting customer behavior, and personalizing marketing efforts.

The ability to collect, process, and analyze vast amounts of information is what makes AI so powerful in business planning.

A robust business plan typically includes components such as market analysis, financial projections, and marketing strategies. AI can optimize each aspect of a business plan:

Market Analysis : AI tools can analyze market trends and customer feedback, offering a more nuanced understanding of the competitive landscape.
Financial Projections : Machine learning algorithms can provide more accurate revenue forecasts by analyzing past performance and market conditions.
Marketing Strategies : AI can personalize customer interactions and optimize marketing campaigns for better engagement and conversion rates.
Decoding Customer Behavior: AI algorithms are adept at analyzing customer interactions and feedback across various platforms. By processing this data, businesses can gain a nuanced understanding of customer preferences and tailor their offerings accordingly.
Predictive Market Trends: AI doesn’t just analyze the present; it’s also predictive. By examining historical data and current market conditions, AI can forecast future market shifts, giving businesses a strategic advantage in planning their next move.
Real-time Market Insights: With AI, market analysis is not a one-time report but a continuous stream of insights. This allows companies to adapt quickly to changing market dynamics and maintain a competitive edge.

Using AI to Develop Your Business Plan (With Prompts)

Your Executive Summary : Begin with an AI-generated executive summary that encapsulates the financial health and projections of your business. You can use specific AI tools to analyze historical data and generate a concise summary that highlights key financial metrics and future goals. A useful prompt to help you do this:

Write a very detailed executive summary for a [insert your company type] that is requesting funding. Here is some context to get you started: {Succinctly summarize the key elements of your business} {List 5 business objectives} { 3 unique selling points}

Company Description : Utilize AI to provide a data-backed company valuation and financial history. This can include automated calculations of burn rate, cash flow, and other vital financial statistics that give stakeholders a clear picture of your company’s fiscal standing.

Write a very detailed mission statement for a [insert business] that values [insert values] and offers [insert products and/or services]
Write a very detailed business description for a [ insert business name] that sells [insert products and/or services]. The company values [insert values].
Write a very detailed product description for (insert products and/or services) that highlights [insert features to highlight]

Market Analysis : Deploy AI algorithms to analyze the market size, growth rates, and trends. This will help you to forecast demand and price points, which are essential for accurate financial planning.

Write a very detailed market analysis for a [insert business type].
Create a target audience for a [insert business type] who wants to target [insert who you want to target. Include their age, race, gender, likes, dislikes etc]
What are the top 3 market trends for the [insert industry] and why are they trending?

Competitive Analysis : AI can help you perform a deep dive into competitors' financial strategies. By analyzing public financial reports and market data, AI can uncover insights into pricing strategies, market share, and financial strengths or weaknesses of your competitors.

Write a very detailed competitive analysis for a [insert company] who’s advantage is [insert your advantage over the market]
Find 3 competitors for a [insert business type] and explain their competitive advantage.
Write a unique selling proposition for a [insert product or service type] that is [insert unique selling proposition].

Sales and Marketing Plan : Predictive analytics can forecast the ROI of different marketing strategies, helping you to allocate your budget effectively. AI can also optimize your sales funnel by predicting customer lifetime value and churn rates.

Write a very detailed sales and marketing plan for a [insert business type] that offers [insert products and/or services]
Write a very detailed growth strategy for a [insert business type] that offers [insert products and/or services]

Ownership and Management Plan : AI can assist in modeling different ownership structures and their financial implications, as well as predict the financial impact of management decisions.

Write a very detailed Ownership Structure for a [insert business type] that has [include the ownership roles that you have in your company]
Write a very detailed Management Plan for a [insert business type] that has [include the roles that you have in your company]

Operating Plan : Use AI to simulate various operational scenarios and their costs. This includes everything from supply chain optimization to energy consumption and staffing requirements.

Write a very detailed Operating Plan for a [insert business type] that operates [include where you operate your business ex: online, storefront etc]
Write a very detailed risk management assessment for a [insert business type] that operates [include where you operate your business ex: online, storefront etc]

Financial Plan : This is where AI truly shines. Machine learning models can provide detailed revenue forecasts, expense projections, and cash flow analysis. They can also help in stress-testing your financial plan against various economic scenarios to ensure resilience.

Create a detailed year sales forecast for a [Insert business type] with an average growth rate of [XX% per year and an average order value of $XX]
Create a break-even analysis for a [insert business type] with an average order value of SIXXI. The Total cost per unit is $[XX]. The yearly combined fixed and variable costs is[XXX]
Write a very detailed funding request section of a business plan for a [insert business type] that is requesting [XX] for [insert what you need the funding for]

Develop A Robust Business Plan with Creately VIZ

Use the AI-powered visual intelligence of Creately VIZ to develop strategic business plans. The AI templates help you generate, expand, organize and transform all the information you require to put together a complete business plan. You can use Creately VIZ as your strategic partner - taking advantage of visual frameworks to build out winning strategies.

Business Model Canvas: The Business Model Canvas is a strategic planning tool, that condenses a comprehensive business plan into a one-page visual. Comprising nine key building blocks, it offers a holistic view of a business, from customer segments and value propositions to revenue streams and cost structures.

Strategic Blueprint: A strategic blueprint is a detailed, overarching plan that outlines an organization’s long-term goals and the actions needed to achieve them. It serves as a guiding document for decision-making and resource allocation. Typically encompassing mission statements, objectives, and tactics, a strategic blueprint provides a roadmap for navigating challenges and leveraging opportunities. It considers internal and external factors, aligning organizational strengths with market demands.

Capability Mapping: A business capability map is a visual representation that outlines the core competencies and capabilities of an organization. It provides a comprehensive view of the skills, processes, technologies, and resources required to achieve business objectives. Like a strategic blueprint, a capability map guides decision-making but focuses on the specific abilities needed for successful operations. It often categorizes capabilities into key domains, such as operational, strategic, and customer-related. This map serves as a strategic planning tool, aligning business activities with organizational goals.

AI transforms a static business plan into a dynamic blueprint that evolves with your business and the market. The competitive advantages it offers, from enhanced accuracy in market analysis to real-time adaptation and personalized strategies, underscore the transformative power of AI. As you embark on crafting your business plan, consider leveraging AI as your thinking assistant, ensuring your strategies align with evolving market dynamics. With AI, the journey from plan to success becomes a continuous and adaptive process.

Join over thousands of organizations that use Creately to brainstorm, plan, analyze, and execute their projects successfully.

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Start » startup, how to use ai tools to write a business plan.

These tools use artificial intelligence to generate full business plans you can take to investors.

A man sits at a white desk and looks at the screen of an open laptop. Scattered elsewhere on the desk are a couple of potted plants, a cup of pencils and scissors, a tablet and smartphone, and a few stacks of papers. The man is wearing a dark blue plaid shirt over a purple T-shirt, and he has one hand held to his chin in thought.

Writing a business plan is an important, if arduous, task. Most investors and financial institutions will ask to see your business plan before providing startup capital. But, for many entrepreneurs, putting pen to paper to detail your idea can be burdensome.

AI tools can speed up the process of writing a business plan by providing the framework and initial content. However, you’ll need to go through the plan in detail to make sure it accurately reflects the financial modeling, mission and vision, and other elements that you’re starting to put into motion. Consider any business plan generated by these AI tools as a starting point from which to finesse your plan to perfection.

[Read more: Writing a Business Plan? Here’s How to Do It, Step by Step ]

ProAI is built to generate custom business plans that include financial projections, market research, and a SWOT analysis. These detailed plans can be edited in the app or exported to Google Docs and Sheets for further editing. Simply answer some questions about your business information and goals; AI will create a custom plan with financials. The report can be ready in a few days, depending on the depth and level of customization required — something you determine when you go through the initial process. ProAI can also provide pitch decks and business funding. Pricing for ProAI starts at $199/month.

[Read more: 4 Effective Ways Small Businesses Can Leverage AI ]

Simplified offers a unique AI generator for small businesses. Like ProAI, you simply enter your small business details and objectives, or work off one of their existing templates (such as for a gym, food truck, or real estate service). Simplified’s artificial intelligence can generate market analysis, financial projections, and a clear value proposition for your plan. It can be edited within the tool. The best part? Simplified is free up to 2,000 words.

LivePlan Assistant is the company’s AI writing tool that can help you create a business plan. With this option, you can select one of LivePlan’s business plan templates and get help filling in each section from the Assistant. LivePlan’s database of 550 free sample business plans gives you a good starting point. The Assistant’s “Help Me Write” function will then generate ideas for each section of your plan according to the information you give it. It includes financial forecasting functionality, too. Pricing for LivePlan starts at $20/month.

WriteCream develops generic business plans that can be customized to fit your vision.

Upmetrics ’ AI Assistant can autowrite sections of your business plan, adjust the tone of your content to be more persuasive or professional, and reformat sections to make the plan flow. Unlike other tools on this list, Upmetrics also offers well-designed cover pages so you can make your document stand out. The platform lets you collaborate with different users on the same document so you can stay organized and coordinate better. And, instead of using a set template, Upmetrics has a drag-and-drop builder so you can determine what sections you want to include. Upmetrics starts at $7/month.

IdeaMaster.io

IdeaMaster uses ChatGPT-3 to create fairly basic business plans; if you’re looking for a short two-pager to share with investors before fully developing your concept, this is a good starting point. Simply tell IdeaMaster your industry and product type to get started. Plans include the basics, such as market size, MVP features, value proposition, sales and marketing channels, and key resources, among other things. Best of all, IdeaMaster is free.

WriteCream develops generic business plans that can be customized to fit your vision. It’s less sophisticated than other tools on this list, and it can be used as a blank canvas if you have a great idea but no time (or patience) to write a full business plan. It doesn’t come with the bells and whistles of other tools, but it is affordable: WriteCream is free-to-use for up to 10,000 words per month.

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Published: 20 February 2024 Contributors: Camilo Quiroz Vazquez, Michael Goodwin

Artificial intelligence in business is the use of AI tools such as machine learning, natural language processing, and computer vision to optimize business functions, boost employee productivity, and drive business value.

Artificial intelligence, or the development of computer systems and machine learning to mimic the problem-solving and decision-making capabilities of human intelligence, impacts an array of business processes. Organizations use artificial intelligence (AI) to strengthen data analysis and decision-making, improve customer experiences, generate content, optimize IT operations, sales, marketing and cybersecurity practices, and more. As AI technologies improve and evolve, new business applications emerge.

Artificial intelligence is used as a tool to support a human workforce in optimizing workflows and making business operations more efficient. These gains are made in various ways, including using AI to automate repetitive tasks, generate information based on machine learning algorithms, quickly process vast amounts of data sets and extract meaningful insights, and predict future outcomes based on data analysis. AI systems power several types of business automation, including enterprise automation and process automation, helping to reduce human error and free up human workforces for higher-level work.

According to McKinsey & Company, the use of artificial intelligence in business operations has doubled since 2017. 1 This is largely because AI technology can be customized to meet an organization’s unique needs. 63% of McKinsey’s respondents expect their investment in AI technologies to increase over the next three years. 2 To use AI in an effective business strategy, an organization must have a clear understanding of its business functions, how AI works, and what aspects of the business can be improved through AI implementation.

While the use of AI tools to automate repetitive tasks and increase employee productivity remains popular, businesses are also moving beyond these use cases and using AI to assist in higher-level, strategic initiatives that help drive broader business value.

Build, train, validate, tune and deploy AI models.

Accelerate the impact of AI with an end-to-end AI and data platform

Artificial intelligence, “the science and engineering of making intelligent machines, especially intelligent computer programs,” 3 uses large amounts of data and human knowledge to power computer systems with the ability to categorize data, make predictions, identify errors, have conversations, and analyze information in a similar way to humans.

One of the goals of artificial intelligence is to create computer systems that can mimic the critical thinking skills of humans. These systems rely on business data and use technologies like natural language processing (NLP), machine learning (ML), and deep learning to facilitate business operations. Integrating AI into business functions requires a baseline understanding of the following components:

These algorithms are a subset of artificial intelligence and are used to make predictions or classifications based on input data. Through training data sets, these algorithms can learn to identify patterns, discover anomalies, or make projections such as future sales revenue. Machine learning algorithms help mine large datasets for key insights that can offer real-world benefits for improved business decisions. Machine learning algorithms benefit from labeled data, which is data that a human expert categorizes before it is processed.

Deep learning is a subset of machine learning that allows for the automation of tasks without human intervention. Virtual assistants, chatbots, facial recognition and fraud prevention technology all rely on deep learning. By examining data that is related to user behavior, deep learning models can make predictions about future behavior. Compared to general machine learning, deep learning models can more accurately extract information from unstructured data such as text and images and do not require as much human intervention.

Natural language processing is a branch of AI that “enables computers and digital devices to recognize, understand, and generate text and speech.” 4 Customer support chatbots, digital assistants, and voice-operated technologies such as GPS systems are all powered by NLP. Used with machine learning algorithms and deep learning models, NLP allows systems to extract insights from unstructured data that are text- or voice-driven.

Computer vision is a subset of AI that allows computer systems to extract information from digital images, videos and other visual inputs. 5 Computer vision uses both deep learning and machine learning algorithms to learn and identify specific elements of digital imagery. Computer vision is currently applied in several ways, and applications are expanding as the technology progresses. For example, computer vision can be implemented in production lines to detect minor defects during the manufacturing process.

Integrating enterprise-grade AI can help free human workforces from repetitive manual tasks, improve data analysis, business strategy and decision-making, and optimize processes organization-wide. To do so, enterprises must have an infrastructure that properly manages data and supports AI technology. Having a strong data governance framework helps keep data available to all relevant stakeholders and secure from data breaches. It also helps promote the use of advanced data analytics. Part of this framework involves a digital transformation and the integration of hybrid cloud and multicloud environments to help manage large volumes of data. Once these systems are in place, an organization can begin mining data for insights and building training models to instruct AI technologies.

As new technologies enter the market, and existing ones improve, the possible applications of artificial intelligence in business grow more numerous. The benefits of AI vary and require the integration of technologies and human workforces to improve operational efficiency and drive business value.

Some examples that demonstrate the use of artificial intelligence in business include:

AIOps —artificial intelligence for IT operations—consists of the practice of using AI, machine learning and natural language processing models to streamline IT operations and service management. AIOps allows IT teams to quickly sift through large amounts of data and reduce the amount of time it takes to detect anomalies, troubleshoot errors, and monitor the performance of IT systems. Artificial intelligence helps IT teams achieve greater observability and provides real-time insights into operations.

Customer data helps marketing teams develop marketing strategies by identify trends and spending patterns. Artificial intelligence tools help process these big data sets to forecast future spending trends and conduct competitor analysis. This helps an organization gain a deeper understanding of its place in the market. AI tools allow for marketing segmentation, a strategy that uses data to tailor marketing campaigns to specific customers based on their interests. Sales teams can use this same data to make product recommendations based on customer analytics.

AI enables businesses to provide 24/7 customer service and faster response times, which help improve the customer experience. AI-powered chatbots can help customers resolve simple queries without requiring a human agent. This ability allows the human customer service workforce to address more complex issues.

McKinsey reported savings of USD 80 million for a South American telecommunications company that used conversational AI to prioritize higher-value clients. 6 Powerful conversational AI tools such as IBM watsonx™ Assistant help chatbots overcome some of the pain points of earlier models, which were unable to handle many customer questions.

Generative AI (GenAI) is a growing field that helps organizations optimize content creation. Tools such as ChatGPT provide content teams with powerful tools to create original content. These tools can generate images or text based on input prompts, and designers, writers, and content leads can use these generative AI outputs to help with brainstorming, outlining, and other project tasks. Gartner estimates that by 2025 generative AI will be used to create 30% of outbound marketing content, up from 2% in 2022. 7 Generative tools such as IBM watsonx™ Code Assistant can help developers by generating code.

While AI content generation is still largely unregulated, human employees should monitor the use of AI in generating content to prevent copyright infringement, the publication of misinformation, or other unethical business practices.

Artificial intelligence tools can be used to improve network security, anomaly detection , fraud detection, and help prevent data breaches. The increased use of technology in the workplace creates greater opportunities for security breaches; to thwart threats and protect organizational and customer data, organizations must be proactive in detecting anomalies. For example, deep learning models can be used to examine large sets of network traffic data and identify behavior that might signal an attempted attack on the network.

Data breaches can be costly and erode customer trust. The IBM Cost of a Data Breach Report 2023 indicates that the average savings for organizations that “use security AI and automation extensively is USD 1.76 million compared to organizations that don’t.”

The application of AI in supply chain management comes in the form of predictive analytics, which helps forecast future pricing of shipping and material costs. Predictive analytics also helps organizations maintain appropriate levels of inventory. This reduces bottlenecks, or the overstocking of products.

AI technologies are rapidly evolving, and their use is expanding to meet a wider variety of business needs and strategies. New technologies and the innovation of business leaders will dictate the future of AI—understanding how AI fits into your business model is key to maintaining a competitive edge.

IBM® watsonx™ AI and data platform includes three core components and a set of AI assistants designed to help you scale and accelerate the impact of AI with trusted data across your business. Easily deploy and embed AI across your business, manage all data sources, and accelerate responsible AI workflows—all on one platform.

IBM watsonx Assistant is a market-leading, conversational artificial intelligence platform designed to help you overcome the friction of traditional support and deliver exceptional experiences.

 IBM watsonx Orchestrate™ features generative AI and automation technology designed to help streamline your team's efforts and reclaim your day.

Artificial intelligence (AI) can offer deeper insights and eliminate repetitive tasks, giving workers more time to fulfill uniquely human roles, such as collaborating on projects, developing innovative solutions and creating better experiences.

If you’re a business leader not pursuing AI, know that your competition is, and you risk falling behind. It’s time to dispel the 3 myths hindering small businesses.

Technologies such as AI and automation have transformed the outsourcing market and BPO services, giving companies the ability to create efficiencies while also modernizing processes rather than relying on offshore outsourcing.

Explore blogs related to AI for business.

Discover how artificial intelligence leverages computers and machines to mimic the problem-solving and decision-making capabilities of the human mind.

Learn about enterprise automation and the strategic use of technology to integrate, streamline and automate business processes across an organization.

Explore IBM watsonx and learn how to easily deploy and embed AI across your business, manage all data sources, and accelerate responsible AI workflows—all on one platform.

1, 2 “ The state of AI in 2022—and a half decade in review ,” (link resides outside ibm.com) McKinsey & Company, 6 December 2022 3 “ What is artificial intelligence? ,” IBM.com 4 “ What is natural language processing? ,” IBM.com

5 “ What is computer vision? ,” IBM.com

6 “ Generative AI will first be successfully scaled in business operations ,” (link resides outside ibm.com) Marie El Hoyek, Curt Mueller, Nicolai Müller, McKinsey & Company, 5 February 2024 7 “ What Generative AI Means for Business ,” (link resides outside ibm.com), Gartner.com

Artificial intelligence in strategy

Can machines automate strategy development? The short answer is no. However, there are numerous aspects of strategists’ work where AI and advanced analytics tools can already bring enormous value. Yuval Atsmon is a senior partner who leads the new McKinsey Center for Strategy Innovation, which studies ways new technologies can augment the timeless principles of strategy. In this episode of the Inside the Strategy Room podcast, he explains how artificial intelligence is already transforming strategy and what’s on the horizon. This is an edited transcript of the discussion. For more conversations on the strategy issues that matter, follow the series on your preferred podcast platform .

Joanna Pachner: What does artificial intelligence mean in the context of strategy?

Yuval Atsmon: When people talk about artificial intelligence, they include everything to do with analytics, automation, and data analysis. Marvin Minsky, the pioneer of artificial intelligence research in the 1960s, talked about AI as a “suitcase word”—a term into which you can stuff whatever you want—and that still seems to be the case. We are comfortable with that because we think companies should use all the capabilities of more traditional analysis while increasing automation in strategy that can free up management or analyst time and, gradually, introducing tools that can augment human thinking.

Joanna Pachner: AI has been embraced by many business functions, but strategy seems to be largely immune to its charms. Why do you think that is?

Subscribe to the Inside the Strategy Room podcast

Yuval Atsmon: You’re right about the limited adoption. Only 7 percent of respondents to our survey about the use of AI say they use it in strategy or even financial planning, whereas in areas like marketing, supply chain, and service operations, it’s 25 or 30 percent. One reason adoption is lagging is that strategy is one of the most integrative conceptual practices. When executives think about strategy automation, many are looking too far ahead—at AI capabilities that would decide, in place of the business leader, what the right strategy is. They are missing opportunities to use AI in the building blocks of strategy that could significantly improve outcomes.

I like to use the analogy to virtual assistants. Many of us use Alexa or Siri but very few people use these tools to do more than dictate a text message or shut off the lights. We don’t feel comfortable with the technology’s ability to understand the context in more sophisticated applications. AI in strategy is similar: it’s hard for AI to know everything an executive knows, but it can help executives with certain tasks.

When executives think about strategy automation, many are looking too far ahead—at AI deciding the right strategy. They are missing opportunities to use AI in the building blocks of strategy.

Joanna Pachner: What kind of tasks can AI help strategists execute today?

Yuval Atsmon: We talk about six stages of AI development. The earliest is simple analytics, which we refer to as descriptive intelligence. Companies use dashboards for competitive analysis or to study performance in different parts of the business that are automatically updated. Some have interactive capabilities for refinement and testing.

The second level is diagnostic intelligence, which is the ability to look backward at the business and understand root causes and drivers of performance. The level after that is predictive intelligence: being able to anticipate certain scenarios or options and the value of things in the future based on momentum from the past as well as signals picked in the market. Both diagnostics and prediction are areas that AI can greatly improve today. The tools can augment executives’ analysis and become areas where you develop capabilities. For example, on diagnostic intelligence, you can organize your portfolio into segments to understand granularly where performance is coming from and do it in a much more continuous way than analysts could. You can try 20 different ways in an hour versus deploying one hundred analysts to tackle the problem.

Predictive AI is both more difficult and more risky. Executives shouldn’t fully rely on predictive AI, but it provides another systematic viewpoint in the room. Because strategic decisions have significant consequences, a key consideration is to use AI transparently in the sense of understanding why it is making a certain prediction and what extrapolations it is making from which information. You can then assess if you trust the prediction or not. You can even use AI to track the evolution of the assumptions for that prediction.

Those are the levels available today. The next three levels will take time to develop. There are some early examples of AI advising actions for executives’ consideration that would be value-creating based on the analysis. From there, you go to delegating certain decision authority to AI, with constraints and supervision. Eventually, there is the point where fully autonomous AI analyzes and decides with no human interaction.

Because strategic decisions have significant consequences, you need to understand why AI is making a certain prediction and what extrapolations it’s making from which information.

Joanna Pachner: What kind of businesses or industries could gain the greatest benefits from embracing AI at its current level of sophistication?

Yuval Atsmon: Every business probably has some opportunity to use AI more than it does today. The first thing to look at is the availability of data. Do you have performance data that can be organized in a systematic way? Companies that have deep data on their portfolios down to business line, SKU, inventory, and raw ingredients have the biggest opportunities to use machines to gain granular insights that humans could not.

Companies whose strategies rely on a few big decisions with limited data would get less from AI. Likewise, those facing a lot of volatility and vulnerability to external events would benefit less than companies with controlled and systematic portfolios, although they could deploy AI to better predict those external events and identify what they can and cannot control.

Third, the velocity of decisions matters. Most companies develop strategies every three to five years, which then become annual budgets. If you think about strategy in that way, the role of AI is relatively limited other than potentially accelerating analyses that are inputs into the strategy. However, some companies regularly revisit big decisions they made based on assumptions about the world that may have since changed, affecting the projected ROI of initiatives. Such shifts would affect how you deploy talent and executive time, how you spend money and focus sales efforts, and AI can be valuable in guiding that. The value of AI is even bigger when you can make decisions close to the time of deploying resources, because AI can signal that your previous assumptions have changed from when you made your plan.

Joanna Pachner: Can you provide any examples of companies employing AI to address specific strategic challenges?

Yuval Atsmon: Some of the most innovative users of AI, not coincidentally, are AI- and digital-native companies. Some of these companies have seen massive benefits from AI and have increased its usage in other areas of the business. One mobility player adjusts its financial planning based on pricing patterns it observes in the market. Its business has relatively high flexibility to demand but less so to supply, so the company uses AI to continuously signal back when pricing dynamics are trending in a way that would affect profitability or where demand is rising. This allows the company to quickly react to create more capacity because its profitability is highly sensitive to keeping demand and supply in equilibrium.

Joanna Pachner: Given how quickly things change today, doesn’t AI seem to be more a tactical than a strategic tool, providing time-sensitive input on isolated elements of strategy?

Yuval Atsmon: It’s interesting that you make the distinction between strategic and tactical. Of course, every decision can be broken down into smaller ones, and where AI can be affordably used in strategy today is for building blocks of the strategy. It might feel tactical, but it can make a massive difference. One of the world’s leading investment firms, for example, has started to use AI to scan for certain patterns rather than scanning individual companies directly. AI looks for consumer mobile usage that suggests a company’s technology is catching on quickly, giving the firm an opportunity to invest in that company before others do. That created a significant strategic edge for them, even though the tool itself may be relatively tactical.

Joanna Pachner: McKinsey has written a lot about cognitive biases and social dynamics that can skew decision making. Can AI help with these challenges?

Yuval Atsmon: When we talk to executives about using AI in strategy development, the first reaction we get is, “Those are really big decisions; what if AI gets them wrong?” The first answer is that humans also get them wrong—a lot. [Amos] Tversky, [Daniel] Kahneman, and others have proven that some of those errors are systemic, observable, and predictable. The first thing AI can do is spot situations likely to give rise to biases. For example, imagine that AI is listening in on a strategy session where the CEO proposes something and everyone says “Aye” without debate and discussion. AI could inform the room, “We might have a sunflower bias here,” which could trigger more conversation and remind the CEO that it’s in their own interest to encourage some devil’s advocacy.

We also often see confirmation bias, where people focus their analysis on proving the wisdom of what they already want to do, as opposed to looking for a fact-based reality. Just having AI perform a default analysis that doesn’t aim to satisfy the boss is useful, and the team can then try to understand why that is different than the management hypothesis, triggering a much richer debate.

In terms of social dynamics, agency problems can create conflicts of interest. Every business unit [BU] leader thinks that their BU should get the most resources and will deliver the most value, or at least they feel they should advocate for their business. AI provides a neutral way based on systematic data to manage those debates. It’s also useful for executives with decision authority, since we all know that short-term pressures and the need to make the quarterly and annual numbers lead people to make different decisions on the 31st of December than they do on January 1st or October 1st. Like the story of Ulysses and the sirens, you can use AI to remind you that you wanted something different three months earlier. The CEO still decides; AI can just provide that extra nudge.

Joanna Pachner: It’s like you have Spock next to you, who is dispassionate and purely analytical.

Yuval Atsmon: That is not a bad analogy—for Star Trek fans anyway.

Joanna Pachner: Do you have a favorite application of AI in strategy?

Yuval Atsmon: I have worked a lot on resource allocation, and one of the challenges, which we call the hockey stick phenomenon, is that executives are always overly optimistic about what will happen. They know that resource allocation will inevitably be defined by what you believe about the future, not necessarily by past performance. AI can provide an objective prediction of performance starting from a default momentum case: based on everything that happened in the past and some indicators about the future, what is the forecast of performance if we do nothing? This is before we say, “But I will hire these people and develop this new product and improve my marketing”— things that every executive thinks will help them overdeliver relative to the past. The neutral momentum case, which AI can calculate in a cold, Spock-like manner, can change the dynamics of the resource allocation discussion. It’s a form of predictive intelligence accessible today and while it’s not meant to be definitive, it provides a basis for better decisions.

Joanna Pachner: Do you see access to technology talent as one of the obstacles to the adoption of AI in strategy, especially at large companies?

Yuval Atsmon: I would make a distinction. If you mean machine-learning and data science talent or software engineers who build the digital tools, they are definitely not easy to get. However, companies can increasingly use platforms that provide access to AI tools and require less from individual companies. Also, this domain of strategy is exciting—it’s cutting-edge, so it’s probably easier to get technology talent for that than it might be for manufacturing work.

The bigger challenge, ironically, is finding strategists or people with business expertise to contribute to the effort. You will not solve strategy problems with AI without the involvement of people who understand the customer experience and what you are trying to achieve. Those who know best, like senior executives, don’t have time to be product managers for the AI team. An even bigger constraint is that, in some cases, you are asking people to get involved in an initiative that may make their jobs less important. There could be plenty of opportunities for incorporating AI into existing jobs, but it’s something companies need to reflect on. The best approach may be to create a digital factory where a different team tests and builds AI applications, with oversight from senior stakeholders.

The big challenge is finding strategists to contribute to the AI effort. You are asking people to get involved in an initiative that may make their jobs less important.

Joanna Pachner: Do you think this worry about job security and the potential that AI will automate strategy is realistic?

Yuval Atsmon: The question of whether AI will replace human judgment and put humanity out of its job is a big one that I would leave for other experts.

The pertinent question is shorter-term automation. Because of its complexity, strategy would be one of the later domains to be affected by automation, but we are seeing it in many other domains. However, the trend for more than two hundred years has been that automation creates new jobs, although ones requiring different skills. That doesn’t take away the fear some people have of a machine exposing their mistakes or doing their job better than they do it.

Joanna Pachner: We recently published an article about strategic courage in an age of volatility that talked about three types of edge business leaders need to develop. One of them is an edge in insights. Do you think AI has a role to play in furnishing a proprietary insight edge?

Yuval Atsmon: One of the challenges most strategists face is the overwhelming complexity of the world we operate in—the number of unknowns, the information overload. At one level, it may seem that AI will provide another layer of complexity. In reality, it can be a sharp knife that cuts through some of the clutter. The question to ask is, Can AI simplify my life by giving me sharper, more timely insights more easily?

Joanna Pachner: You have been working in strategy for a long time. What sparked your interest in exploring this intersection of strategy and new technology?

Yuval Atsmon: I have always been intrigued by things at the boundaries of what seems possible. Science fiction writer Arthur C. Clarke’s second law is that to discover the limits of the possible, you have to venture a little past them into the impossible, and I find that particularly alluring in this arena.

AI in strategy is in very nascent stages but could be very consequential for companies and for the profession. For a top executive, strategic decisions are the biggest way to influence the business, other than maybe building the top team, and it is amazing how little technology is leveraged in that process today. It’s conceivable that competitive advantage will increasingly rest in having executives who know how to apply AI well. In some domains, like investment, that is already happening, and the difference in returns can be staggering. I find helping companies be part of that evolution very exciting.

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Home » Sample Business Plans » Technology

How to Write an Artificial Intelligence Startup Business Plan [Sample Template]

Are you about starting an artificial intelligence company? If YES, here is a detailed sample artificial intelligence startup business plan template & FREE feasibility report. Artificial intelligence or AI is a rapidly rising market since more businesses and companies are integrating it to their processes of manufacture and customer service.

In recent years, different gadgets which use AI, for example smartphones and smart TVs, use virtual assistance software that works with AI to function and these devices are used by regular people on a daily basis to make their life more efficient and easy.

So if you want to be part of this changing and evolving world, this is the business plan format you should consider. Have it in mind that artificial intelligence business specializes on helping companies and businesses to integrate AI to their business processes.

The integration of technology will help them become more efficient, by reducing working hours and expenses. This business will also offer tech-services and training to any company or business that hires its services.

A Sample Artificial Intelligence Startup Business Plan Template

1. industry overview.

According to reports, the global artificial intelligence market size will reach $169,411.8 million in 2025, from $4,065.0 million in 2016 rising at a CAGR of 55.6% from 2018 to 2025. This industry has been one of the fastest-growing technologies in recent years.

It is associated to human intelligence with similar characteristics such as language understanding, reasoning, learning, problem solving, and others. Most manufacturers in the market have experienced enormous underlying intellectual challenges in the development and revision of such a technology. AI is set at the core of the next gen software technology in the market.

Report also has it that the growing number of innovative start-ups and advancements in technology have led to increase in investment in artificial intelligence technologies. Also, increase in demand for analyzing and interpreting large amounts of data is further growing the demand for artificial intelligence industry solutions.

Furthermore, development of more reliable cloud computing infrastructures and improvements in dynamic artificial intelligence solutions have a strong impact on the growth potential of the AI market. However, lack of trained and experienced staff can hinder the growth of the artificial intelligence market.

Note that the ability of AI technology to analyze collected data efficiently and forecast decisions through explicit algorithms aids in productivity improvement. For example, Netflix offer movies on the basis of users’ previous viewing experiences.

In our modern and more competitive business environment, AI has revolutionized the way of business management through integration of workflow management tools, brand purchase advertising, trend predictions, and other tools. All these are the key factors for the growing investment in AI technologies and machine learning market.

Meanwhile, many small startups and tech companies have been investing in adoption of open-source AI platforms to achieve higher efficiencies in their value chains. Also, the growing availability of low-cost quality AI technologies is expected to also contribute to the growth of the market.

You also note that AI has varied application areas including media & advertising, finance, retail, healthcare, automotive & transportation, agriculture, law, educational institutions, oil & gas, and other industries.

This diversity has propelled the market of AI across the globe, owing to developments such as self-driving cars, space exploration, accurate weather predictions, and others. Also, AI is expected to affect healthcare advancements, due to its ability to analyze huge amounts of genomic data and ensure more accurate treatment and prevention of medical conditions.

2. Executive Summary

Blue Binary® A I Technologies, Inc. is a consulting-oriented computer support venture that also satisfies the development and marketing needs of our clients. Our aim is to focus our services and support to differentiate our company from more price-oriented computer companies in the united states. We are on the brink of penetrating a lucrative market in a rapidly growing industry.

Located at Downtown Denver, we at Blue Binary® A I Technologies, Inc. understand the need to be flexible and responsive, to satisfy our clients by offering them what they want, when they want it, and before the competition can offer it.

Our business strategy at Blue Binary® A I Technologies, Inc. will be based around the need to offer quality products and services to our various target customers. This shall be undertaken through the establishment of a professional team and the provision of quality, custom-designed services, catering to the client’s particular needs.

Our company will be established on the assumption that the proper management of information technology for business is like legal advice or accounting, in that it is not inherently a do-it-yourself prospect, and requires outside expertise to install and implement it.

We believe that smart business people need to locate quality vendors of reliable hardware, software, service, and support. They need to use these quality vendors as they use their other professional service suppliers: as trusted allies.

Our intentions of starting Blue Binary® A I Technologies, Inc. are to serve as a solution provider to our clients. We plan to serve our clients as trusted allies, providing them with the loyalty of a business partner and the economics of an outside vendor. We want to make sure that our clients have what they need to run their businesses as well as possible, with maximum efficiency and security.

Blue Binary® A I Technologies, Inc. founder, Sebastian Craig, has invested in the company and we are seeking more private investment. We plan to use these extra funds to complete our patent process and initiate prototype development. We also believe that the start-up capital required will also cover expenses associated with the continuation of operations in the first year. We also plan to raise the capital by selling shares in the company.

3. Our Products and Services

We at Blue Binary® A I Technologies, Inc. will offer computer products and services to small, medium, and large scale businesses in Denver, Colorado. Our plan is to focus on providing network systems and services to businesses. The systems include both PC-based Land Area Networks (LAN) systems and minicomputer server-based systems.

We will also maintain the latest hardware and software capabilities so as to make sure we are continuously at the forefront in our market arena. Below are the services and products we plan to provide at Blue Binary® A I Technologies, Inc.;

Hardware Supply and Technical Support (Xenasys, Xenavex and BioXen devices)
Paperless Office Automation Solutions
Financial Solutions
Network Solutions
Data Backup Solutions and Services
E-commerce and Advertisement Solutions

4. Our Mission and Vision Statement

Our vision at Blue Binary® A I Technologies, Inc. is to provide products and services of uncompromising quality. We also plan to seek mutually beneficial and enduring relationships in all the commitments that we make, ensuring that they are straightforward and honest.

Our mission at Blue Binary® A I Technologies, Inc. is to be a responsible corporate citizen, fulfilling our obligations as an integral member of society. We believe that all our business decisions will offer appropriate weight and consideration to social and environmental impacts.

Our Business Structure

Our management team at Blue Binary® A I Technologies, Inc. has extensive experience in technology development, sales, marketing, finance and customer service. All our senior executives boost of industry specific expertise in artificial intelligence, computer processing, and business systems. Blue Binary® A I Technologies, Inc. is run by a Finance Major, Sebastian Craig, who’s experienced in the AI and financial services sectors.

He is a proven entrepreneur and is joined by a team of seasoned Veterans from virtually every discipline in technology and financial services. We at Blue Binary® A I Technologies, Inc. intend to establish close relationships with our clients, with the intention of expanding in the near future. We plan to start with the following business structure;

Chief Executive Officer

Technical Director

Marketing and Advertisement manager

Human Resources and Admin Manager

Sales and Marketing manager

Client Service Executive

5. Job Roles and Responsibilities

Tasked with building the firm’s effectiveness by recruiting, selecting, orienting, training, coaching, counselling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
Tasked with providing direction for the business
Will also be tasked with creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
Tasked with signing checks and documents on behalf of the company
Evaluates the success of the organization
Works as the project manager of the organization; works directly with employees
Tasked with designing advertising concepts and winning business proposals for the organization
Tasked with copy writing and laying out chronological advertisement plans
Tasked with developing strategic plan by studying technological and financial opportunities; presenting assumptions; recommending objectives.
Tasked with accomplishing subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
Should be able to coordinate efforts by establishing procurement, production, marketing, field, and technical services policies and practices; coordinating actions with corporate staff.
Tasked with building company image by collaborating with customers, government, community organizations, and employees; enforcing ethical business practices.
Obligated to maintain quality service by establishing and enforcing organization standards.
Tasked with maintaining professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; participating in professional societies.
Make certain that operations and marketing department perform efficiently, coordinate employee efforts, and facilitate communications between management and employees
Tasked with making sure that the organization work in line with international best practices.
Tasked with handling media planning, buying & representation
Tasked with creating advertising campaigns
Tasked with disseminating advertising campaigns through available mediums, such as TV, Radio and periodicals et al
Tasked with handling core digital services such as brand affinity, video advertising, rich media advertising, sponsorship advertising, classifieds/directories, lead generation, mobile messaging/email, digital display advertising, mobile advertising, social media management
Handle other related media and advertising advisory and consulting services
Tasked with overseeing the smooth running of HR and administrative tasks for the organization
Will have to define job positions for recruitment and managing interviewing process
Tasked with carrying out induction for new team members
Tasked with training, evaluation and assessment of employees
Oversee the smooth running of the daily office.

Sales and Marketing Manager

Tasked with managing external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
Obligated to model demographic information and analyze the volumes of transactional data generated by customer
Should be able to identify development opportunities; follows up on development leads and contacts
Writing winning proposal documents, negotiate fees and rates in line with organizations’ policy
Tasked with handling business research, market surveys and feasibility studies for clients
Tasked with supervising implementation, advocate for the customer’s needs, and communicate with clients
Create new markets cum businesses for the organization
Empower and motivates the sales team to meet and surpass agreed targets
Tasked with preparing financial reports, budgets, and financial statements for the organization
Tasked with providing the Company’s management with financial analyses, development budgets, and accounting reports
Tasked with financial forecasting and risks analysis.
Should be able to perform cash management, general ledger accounting, and financial reporting for one or more properties.
Tasked with developing and managing financial systems and policies
Tasked with administering payrolls
Ensuring compliance with taxation legislation
Handles all financial transactions for Blue Binary® A I Technologies, Inc.
Serves as internal auditor for Blue Binary® A I Technologies, Inc.
Tasked with welcoming clients and potential clients by greeting them in person, online or on the telephone; answering or directing inquiries.
Makes sure that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
Manages administrative duties assigned by the creative director in an effective and timely manner
Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information are supplied to clients when they make enquiries.

6. SWOT Analysis

We at Blue Binary® A I Technologies, Inc. don’t intend to just market and sell our product and services, but to provide customized services and products that will enable our clients to optimize their output and, assist in the attainment of their goals and objectives.

However, for us to attain the above stated, we hired the services of Fortune Ventures, a HR enterprise owned by Dr. Matthew Smith, a popular figure in business development and analysis, to analyze our strengths and weaknesses in our market. After thorough analysis and working with our management, we weren’t disappointed with the analysis we got. Here is a summary of the SWOT Analysis;

Our major strength at Blue Binary® A I Technologies, Inc. is our excellence in fulfilling the promise made to our clients to provide completely confidential, reliable, trustworthy service(s) through the provision of uncompromising services. Also, our timely response to clients’ orders and our skills and depth of knowledge is a massive strength for us.

Our main weakness at Blue Binary® A I Technologies, Inc. will be the time it will take to achieve our goals and the problems we will be facing as new entrants into the industry. We also understand that the introduction of new organizational practices and personnel who have not previously worked together will present a challenge. From this analysis, we have taken these weaknesses into consideration and have put plans in place to rectify and perform above them.

Opportunities

Reports have it that this industry has been one of the fastest-growing technologies in recent years. It is associated to human intelligence with similar characteristics such as language understanding, reasoning, learning, problem solving, and others.

We also understand that business people need to locate quality vendors of reliable hardware, software, service, and support. They need to use these quality vendors as they use their other professional service suppliers: as trusted allies. We at Blue Binary® A I Technologies, Inc. plan to leverage this growing demand and also create astounding service that will bring us closer to our clients and targeted audience.

According to our SWOT analysis, the slow adoption rate of new technologies and products in these parts of the world does not favor our intended products and services at Blue Binary® A I Technologies, Inc. It also noted that raising the adequate funds we need to build our business is another threat that will limit our success.

7. MARKET ANALYSIS

Market Trend

According to reports, factors like the Internet of Things (IoT) are set to further advance the AI and IT industries. The Internet of Things is the network of physical devices, vehicles, home appliances and other items embedded with electronics, software, sensors, actuators, and connectivity which enables these objects to connect and exchange data.

Each thing is uniquely identifiable through its embedded computing system but is able to inter-operate within the existing Internet infrastructure.

Reports have it that the figure of online capable devices increased 31% from 2016 to 8.4 billion in 2017. Experts believe that the IoT will consist of about 30 billion objects by 2022. It is also estimated that the global market value of IoT will reach $7.1 trillion by 2022.

Also, quantum computing is expected to have a big say in the industry in the near future. Quantum computers are incredibly powerful machines that take a new approach to processing information. Built on the principles of quantum mechanics, they exploit complex and fascinating laws of nature that are always there, but usually remain hidden from view.

Note by harnessing such natural behavior, quantum computing can run new types of algorithms to process information more holistically.

3D printing is also set to improve and advance in coming years. 3D printing more commonly refers to processes in which material is joined or solidified under computer control to create a three-dimensional object, with material being added together (such as liquid molecules or powder grains being fused together).

3D printing is used in both rapid prototyping and additive manufacturing (AM). Objects can be of almost any shape or geometry and typically are produced using digital model data from a 3D model or another electronic data source such as an Additive Manufacturing File (AMF) file (usually in sequential layers).

There are many different technologies, like stereo lithography (STL) or fused deposit modeling (FDM). Thus, unlike material removed from a stock in the conventional machining process, 3D printing or AM builds a three-dimensional object from computer-aided design (CAD) model or AMF file, usually by successively adding material layer by layer.

3D printing or additive manufacturing is a process of making three dimensional solid objects from a digital file. Robotics, virtual intelligence and biometrics are also expected to shape the industry. Biometrics which is simply the measurement and statistical analysis of people’s unique physical and behavioral characteristics will be the most crucial according to experts.

8. Our Target Market

Our target market at Blue Binary® A I Technologies, Inc. will be businesses who are dependent on reliable information technology. These businesses use computers for a vast range of functions, beginning with the core administration information such as accounting and record entry, communications, and personal productivity.

These companies, however, are not big enough to have dedicated computer personnel such as the Management Information System (MIS) departments in large businesses. We plan to focus on proactive, market seeking organizations that want to ensure an efficient and effective IT system that will assist in the realization of their business objectives.

However, our most important group of potential customers will be business executives in large, medium, and small corporations. Note that these include marketing managers, general managers, sales managers, and other decision makers who often need to access company data and information in their various business decisions.

They will not waste their time or money looking for bargain information, questionable expertise, or cheap computers and accessories. Our potential clients will include:

Research and Development Companies
Educational institutions (High Schools, Colleges and Universities)
Governments and hotels
Sport Organizations and social clubs
Banks, Insurance Companies and other related Financial Institutions
Corporate Organizations and technology companies
Manufacturers and Distributors
Real Estate Owners, Developers, and Contractors
Media Stations and Religious Organizations
Event planners and other businesses

Our competitive advantage

Our business strategy at Blue Binary® A I Technologies, Inc. will base around the need to offer quality products and services to our various target customers. This shall be undertaken through the establishment of a professional team and the provision of quality, custom-designed services, catering to the client’s particular needs.

We believe that our competitive advantage in this sector is our positioning as a strategic ally with our clients. We also believe that by building a business based on long-standing relationships with satisfied clients, we will simultaneously build defenses against competition.

Research has shown that the longer the relationship stands, the more we help our clients understand what we offer them and why they need it. Also, the delivery of whole, end-to-end solutions will have a significant impact on gaining commitment from the market at all levels. We believe in partnering with our clients so as to provide customized solutions that are needs-based.

9. SALES AND MARKETING STRATEGY

The very first element of our marketing strategy at Blue Binary® A I Technologies, Inc. will be that of differentiation from our competitors. In terms of marketing, we plan to showcase our company as a strategic ally, not just our products.

We also plan to offer extremely reasonable prices in comparison to competition, and we need to be able to sustain that. Market penetration through lower prices shall be undertaken where need be. We plan to use the following strategies to reach our targeted audience;

Direct marketing approach
Promptness in bidding for advertising and digital marketing contracts from the government and other cooperate organizations
We will also advertise our business in relevant business magazines, newspapers, TV and radio stations
Blue Binary® A I Technologies, Inc. will introduce our computer support company by sending introductory letters alongside our brochure to individuals, corporate organizations, government agencies, non – profits, religious organizations and key stakeholders.
We plan to list our business in yellow pages ads (local directories)
Attend relevant international and local expos, seminars, and business fairs et al
We also plan to create different packages for different category of clients in order to work with their budgets and still deliver excellent services
We will make use of the internet to promote our business

Sources of Income

We will generate revenue streams from a combination of licensing agreements, sales commissions, monthly subscriptions, registration fees, network access charges, service fees, transaction charges, training, promotional incentive programs, and sales of hardware and software.

We believe that the derived value of our company will come from the major partnerships established and developed in order to deliver transactional-based activities, providing opportunity to build brand loyalty, around which relationship marketing will play a key role. Below are ways we intend to generate revenue;

Offering Paperless Office Automation Solutions
Offering Financial Solutions
Offering Network Solutions
Offering Data Backup Solutions and Services

10. Sales Forecast

One of our objectives at Blue Binary® A I Technologies, Inc. is to develop a follow-up strategy to gauge performance with all our clients. We also plan to continuously formalize and measure cross-functional working communication so as to ensure that the various departments work harmoniously towards attainment of company objectives.

We will also instill a culture of continuous improvement in beating standards of customer satisfaction and efficiency. In other to understand what we have and what we are expected to reach, we took our time to analyze and set out our sales forecast. This sales forecast was done after extensive research, discussion, and analysis of what is obtainable in the industry. Outlined below is the sales projection for Blue Binary® A I Technologies, Inc.;

First Fiscal Year: $850,000
Second Fiscal Year: $1,620,000
Third Fiscal Year: $6,050,000

11. Publicity and Advertising Strategy

Our promotion strategy at Blue Binary® A I Technologies, Inc. will be based majorly on informing prospective clients of our existence and making the right information available to customers. We at Blue Binary® A I Technologies, Inc. plan to leverage an aggressive promotional campaign to introduce our products and services to the market.

Our intention will be to gain advantage of several media sources in announcing our services and in the process enforcing awareness of our existence. Listed out below are other strategies we hope to leverage on to promote and advertise Blue Binary® A I Technologies, Inc.;

We will list Blue Binary® A I Technologies, Inc. in local directories / yellow pages
We also plan to create an official website and employ strategies that will help us pull traffic to the site.
We will also distribute our fliers and handbills in target areas
We also plan to contact corporate organizations, non – profits and government agencies by calling them up and informing them of Blue Binary® A I Technologies, Inc.
Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our company logo et al.
We will place adverts on both print (newspapers and magazines) and electronic media platforms
We will also sponsor relevant community based events / programs
We will make use of the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our services
We also plan to mount our Billboards in strategic locations all around Denver

12. Our Pricing Strategy

We at Blue Binary® A I Technologies, Inc. believe that a vast majority of proactive, market-oriented businesses understand the value of having an efficient computer system, as well as the concept of service and support. They are much more likely to pay for them when the offering and benefits are clearly stated. We also understand that we will compete more against the box pushers than other service providers.

We plan to charge appropriately for the high-end, high-quality service and support we offer. Our revenue structure has to match our cost structure, so the salaries we pay to assure good service must be balanced by the revenue we charge. That is why we must make sure that we deliver and charge for service and support.

Payment Options

We at Blue Binary® A I Technologies, Inc. understand how important it is to establish varieties of payment methods for our diverse range do clients. We are very much ready to provide a wide range of payment methods to suit our clients. We hope to make our business dealings so simple and comfortable for our customers. We’ve also employed the use of a banking platform to help us provide all the services we will be offering below.

Payment by via bank transfer
Payment via online bank transfer
Payment via check
Payment via bank draft
Payment via mobile money

13. Startup Expenditure (Budget)

We’ve taken our time to analyze our market and we expect the cost of equipment we need might be the same price all over the United States, and any difference will surely be little enough to be overlooked. Outlined below is a detailed cost analysis of starting Blue Binary® A I Technologies, Inc.;

Incorporating fees in the United States of America will cost – $750
The budget for Liability insurance, permits and license will cost – $40,000
Leasing / renting an office space in a good location in Silicon Valley that will accommodate the number of employees for at least 6 months (Re – Construction of the facility inclusive) will cost – $165,000.
The cost for furnishing and equipping the office (computers, printers, projectors, markers, servers / internet facility, furniture, telephones, filing cabinets, and electronics) will cost – $40,000
The amount required to purchase the needed software applications – $3,500
Launching an official Website will cost – $500
Our budget for advertising and publicity – $40,000
The amount needed to pay bills and staff members for at least 2 to 3 months – $70,000
Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $5,000
Miscellaneous – $10,000

From the above cost analysis, we need about $600,000 to start Blue Binary® A I Technologies, Inc. The business we believe will grow to dominate the market and become the major stockholder in the global market.

Generating Funding/Startup Capital for Blue Binary® A I Technologies, Inc.

Blue Binary® A I Technologies, Inc. is a consulting-oriented computer support venture, that is also in the business of satisfying the development and marketing needs of our clients. We hope to raise enough funding to take care of start-up and initial running costs.

Blue Binary® A I Technologies, Inc. founder, Sebastian Craig, has invested in the company and we are seeking more private investment. We plan to use these extra funds to complete our patent process and initiate prototype development. We also believe that the start-up capital required will also cover expenses associated with the continuation of operations in the first year. We have numerous ways to raise funds, and they include;

Generate part of the startup capital from personal savings and sale of his stocks
Generate part of the startup capital from friends and other extended family members
Generate part of the start up capital from the bank (loan facility).

Note : Sebastian Craig has provided investment covering much of the starting assets, with the rest of required financing coming from a 5-year commercial loan obtained from our bank.

14. Sustainability and Expansion Strategy

We at Blue Binary® A I Technologies, Inc. plan to make our human resources element a crucial component in the delivery of service. We believe that by having enthusiastic, capable, and empowered people interacting with our clients, we can be able to comprehensively meet our clients’ needs.

We also have plans to give our teams enough leverage in decision-making to ensure that clients are handled promptly and to reduce lead-time in actual delivery of the service. It will be necessary to evaluate jobs and remuneration packages against market benchmarks to ensure they are competitive. We plan to ensure that our management philosophy is based on responsibility and mutual respect.

We also hope to create a flexible structure allowing for all business dealings to be undertaken swiftly and smoothly. Our management team extensive expertise and a broad knowledge of the products/services and markets, which, if well planned, will enable the business to realize its goals and objectives.

We will respect our community and treat all employees well. We will develop and nurture the company as a community. We will not be hierarchical, especially considering the rate of change in our industry, which makes it mandatory for us to be highly flexible.

We at Blue Binary® A I Technologies, Inc. want the company to stay lean and flexible so that we can respond to our markets’ needs quickly. As we expand, we expect to increase our personnel. We also plan to compensate our personnel well, so as to retain their invaluable expertise and ensure job satisfaction and enrichment.

Our compensation will include health care, generous profit sharing, and a minimum of 3 weeks vacation. Our In-house training shall be continuous with regular external training being undertaken, particularly following any new developments in the market. We believe that this will ensure that we are continuously able to anticipate our market needs.

External training will also be conducted to ensure we are aware of the latest products and technology. This will also ensure that our personnel are able to set high standards, or benchmark, using these organizations standards.

We also plan to encourage our employees to put forward any suggestions they might have regarding the improvement of any of the company’s functions. Such a culture will enhance innovativeness and creativity in turn leading to job satisfaction and enrichment.

Check List/Milestone

Business Name Availability Check : Completed
Business Incorporation: Completed
Opening of Corporate Bank Accounts: Completed
Opening Online Payment Platforms: Completed
Application and Obtaining Tax Payer’s ID: In Progress
Application for business license and permit: Completed
Purchase of Insurance for the Business: Completed
Conducting Feasibility Studies: Completed
Leasing, renovating and equipping our facility: Completed
Generating part of the startup capital from the founder: Completed
Applications for Loan from our Bankers: In Progress
Writing of Business Plan: Completed
Drafting of Employee’s Handbook: Completed
Drafting of Contract Documents: In Progress
Design of The Company’s Logo: Completed
Printing of Promotional Materials: Completed
Recruitment of employees: In Progress
Purchase of the Needed software applications, furniture, office equipment, electronic appliances and facility facelift: In progress
Creating Official Website for the Company: In Progress
Creating Awareness for the business (Business PR): In Progress
Health and Safety and Fire Safety Arrangement: In Progress
Establishing business relationship with banks, financial lending institutions, vendors and key players in the industry: In Progress

12 AI Business Plan Generators to Start Any Business in 2024

15MinutePlan

Wordkraft ai, beautiful ai.

Brixx Plan Software

Useful ChatGPT prompts for writing a business plan

Tips for using chatgpt to create a business plan, how to make sure the ai-generated business plan is good enough.

Hello! My name is Arto Minasyan, I’m the Founder and CEO here at 10Web, and a Co-Founder at Krisp. I’ve earned a PhD in Mathematics, in addition to a BA and Master’s in Physics, as well as an MBA. I am a serial entrepreneur, and I know that crafting a business plan can seem like a daunting task.

However, whether you are launching a new business or seeking growth for your current venture, it’s vital to communicate your vision in a thorough business plan.

That’s why I’m excited to share this list of AI business plan generators alongside a few personal tips that I think will inspire you and aid you in creating a well-structured and detailed business plan.

12 AI business planners to help you start your business fast

Generate and refine an executive summary.

Free Plan Paid plan: From 12$ / month

Key features

AI-generated, customizable business plans.
AI-assisted enhancing and editing.
Efficient process with only 4 questions.

Grammarly’s AI Business Plan Generator is a tool designed to assist aspiring entrepreneurs in creating an Executive Summary for their business plans. This tool is a part of Grammarly.com’s suite of AI-assisted writing and proofreading tools. It’s specifically tailored to generate business plans suitable for various types of businesses, leveraging Grammarly’s expertise in enhancing writing quality through AI-driven suggestions.

The AI Business Plan Generator operates in a straightforward and user-friendly manner. Users start by answering a few questions describing their business, including marketing and financial details and competitor information. With only 4 questions to answer, the more detail you can provide, the better the generated results will be for your business plan.

Once Grammarly generates the business plan, you can use its familiar tools to adjust the text for formality, tone, and length, in addition to the usual suggestions for grammatical improvements. The generated draft includes sections with customized, more fully developed plans that reflect your original responses, allowing you to focus more on refining ideas and less on the intricacies of writing.

Detailed AI-generated business plans.

Free to try Paid plan: From 99$

Quick, AI-generated plans.
ChatGPT 4 available.
Detailed business plans.
Editable via "Talk To Plan".

15minuteplan.ai is an AI-powered tool designed to create professional business plans quickly and efficiently. While it aims to help anyone who needs a business plan, with its ability to personalize financial statements and plans, it might be of particular interest to those seeking investor or bank funding.

This AI business plan generator relies on GPT-3.5 and GPT-4 to draw upon a vast array of deep sources, significantly reducing the time and effort traditionally required to create a business plan.

As described, the process of creating a business plan with 15minuteplan.ai takes about – you guessed it – 15 minutes. Users begin by answering seven critical questions that cover the business plan’s purpose, descriptions of products or services, target customer groups, drivers of success, weaknesses, budget and spending plans, and financial details. The handy AI-assisted suggestions can really speed up this Q & A part of the process.

Based on these responses, the tool generates a detailed business plan encompassing various elements such as an executive summary, industry overview, SWOT analysis, marketing strategies, segmentation, targeting, positioning (STP), product strategy, operations plan, management roles, financial projections, and risk mitigation strategies.

While access to the full business plan requires signing up, 15minuteplan.ai offers a substantial preview of the generated business plan to get an idea of what’s included. Additionally, the platform features a unique “Talk To Plan” option, allowing users to easily edit their AI-generated plans by specifying the changes they want, which the AI then integrates effortlessly. This system streamlines the entire process of business plan generation, making it more accessible and less time-consuming.

AI-enhanced business plan templates.

Free plan Paid plan: From 20$ / month

AI-assisted template interface.
Customizable business plan sections.
AI generated content options.
Flexible tone and style settings.

As the name suggests, Copy AI is an AI writing assistant leveraging AI’s power and natural language processing. Copy AI allows you to write almost anything, from optimized blog content to digital ad copies, eCommerce copies, sales copies, social media content, and more.

You can also use Copy AI as an AI business plan generator for almost any kind of business by logging in and selecting from a range of premade templates available online .

Once you have selected a business plan template, you’ll be prompted to fill in the following details:

Your business name
A description of the problem your business solves
A description of how your business will solve that problem
The target market description
Revenue model description

Besides providing you with a variety of business templates, Copy AI allows you to customize details such as the tone of your content and more.

AI-assisted business plan writing.

Free plan Paid plan: From 29$ / month

Utilizes GPT-3.5 for content generation.
Customizable business plans available.
AI-assisted editing for refinement.

WordKraft is an AI-powered web application for generating optimized, authentic and high-quality content for various needs, such as marketing, blogs, and social media. Like many AI tools, Wordkraft runs on the powerful large language model GPT-3.5.

You can also use Wordkraft’s free business plan template to generate a draft . Using the Wordkraft template, you’ll be asked to enter details about your business to guide the AI tool when generating the business plan.

Some details you’ll have to provide include an introduction of the business, the benefits, how the business solves the problem, the market for this product or service, and how to reach the target audience and make business.

Wordkraft is an excellent AI business plan generator for entrepreneurs looking for an easy-to-use interface and access to advanced features such as language and tone of voice options. This AI business planner generator also allows you to select the level of creativity that you need.

Generate presentations based on text prompts.

No Free plan available. Paid plan: From 12$ / month

Professional slides, powered by AI.
Design prompts for presentations.
AI-generated content tools.
Smart, auto-created templates.

Beautiful AI is a generative ai presentation software that enables businesses to create stunning presentations with minimal effort. With Beautiful AI you can access modern and creatively designed templates that you can use to jumpstart your presentations.

Luckily, Beautiful AI prowess extends as a business plans presentation and AI business plan generator. Using Beautiful AI, you can create elegant business plans and presentations by selecting from a collection of quality templates.

Beautiful AI gives you access to 100+ templates. You also don’t need any design skills to create a beautiful presentation or a business plan.

AI tool collection for documents & media.

AI tools for documents, graphics, media.
Enter plan details to generate.
Suitable for diverse business types.

Simplified is a collection of AI-powered tools that can help individuals or businesses of any size easily accomplish some tasks. Some of the tools offered by Simplified AI include an AI presentation maker, image generator , AI writer, AI content rewriter, image resizer, and more.

Among the many AI capabilities of Simplified is also an AI business plan generator. Using Simplified, small businesses can generate a business plan using the templates provided. These templates already contain the outline and structure of how the business plan should look. All you have to do is select the desired tone and the output language.

Alternatively, you can open Simplified AI Writer and start on a blank canvas. However, you must give context and instructions on the business plan you want to generate.

Simplified has many built-in tools , such as Grammarly and graphic design , video editing, and image generation capabilities. Leverage these tools to create stunning customizable design templates, photo, video, and graphic assets for your business plan and other business needs.

AI-assisted note-taking and templates.

Free plan Paid plan: From 10$ / month

Especially helpful for Notion users
AI integrated note-taking system.
Customize business plan templates with AI.

Notion AI is a productivity and workspace application capable of doing so many functions. You can use Notion as a project management app for note-taking and docs management, setup team spaces, and so much more.

While Notion is not specifically designed as an AI business planner, it includes features that can help accomplish so much in that area. Notion AI can help you design quality, interactive, and shareable business plans using templates. You do not have to start from scratch while designing your business plan.

If you have a team, Notion makes this even better. Your team members can collaborate and contribute ideas seamlessly. You can also leave feedback and integrate many useful tools such as Google Docs, Trello, and Slack.

AI apps for different purposes.

Collection of easy-to-use AI tools.
Minimal interface, powerful tools.

Cookup AI is a database of AI tools that you can use to achieve different tasks. Designed with non-technical users in mind, Cookup AI enables users to filter through the thousands of AI tools available and find exactly what they are looking for instead of navigating from site to site.

Among the collection of AI tools by Cookup AI is an AI business plan generator. Cookup AI business plan software is designed with a minimal interface allowing users to generate comprehensive business plans that outline their business goals, strategies, and objectives.

Remember to provide enough context and information about your business in a descriptive way to enable the Cookup AI business plan generator to get the details of your business plan right.

Using Cookup AI, your business can save a lot of time and effort as it is straightforward. However, you should work closely with your team members to ensure the business plan accurately reflects your business visions and goals.

Collaborative Business Plan Development.

Free plan Paid plan: From 8$ / month

Cloud-based collaborative documents.
Real-time collaboration, editing, sharing.
Embeds multimedia in business plans.
Free and premium template options.

Bit AI is a cloud-based collaboration platform that allows multiple teams within organizations spread around the globe to collaborate and organize and manage documents all in one place . Some of the documents that you can manage include wikis, knowledge bases, projects, client deliverables, technical docs, training guides, and client portals.

Using a set of prebuilt templates , you can also use Bit AI to create a modern business plan for your new business venture. Apart from access to high-quality business plan templates, using Bit AI allows you to collaborate in real-time, create responsive and private documents, interlink business plan documents, and track engagements on the document.

Using Bit AI, you can also make your business plan more engaging by embedding web links, lucid charts, draw.io, Figma, Youtube, Vimeo, Airtable, Google Sheets, and more.

Bit AI has a free business plan template to get you started. You can also access over 65 smart slide templates to help you with your design.

AI platform designed specifically for business plans.

No Free plan available Paid plan: From 20$ / month

Collection of tools for business plans
Pro plan review & guidance available.
Quick start for many business categories.
AI LivePlan assistant.

LivePlan is a business planning software with a set of different features to help you set up your business and tools to support you every step of the way. LivePlan is an automated business plan creation software that works for any type of business at any stage.

LivePlan breaks the business plan-building process into simple steps that are easy to follow. Its templates also conform to the usual business plan structure but can be customized as you deem fit.

LivePlan is an excellent AI business planner due to its large collection of templates and customizability. Remember to take advantage of its financial forecasting and performance tracking features.

The leading AI-based chatbot.

Free plan Paid plan: 20$ / month

Communicates in human-like language.
Summarizes intricate subjects.
Useful for composing, researching, inventing.
Integrated with Microsoft Bing.

ChatGPT is a revolutionary chatbot powered by machine learning and natural language processing that can replicate human-like conversations. But can ChatGPT write a business plan?

The short answer is yes, ChatGPT writes a business plan. Although ChatGPT is not specifically designed as an AI business plan software, through a series of prompts with information about your business, it is a great tool for brainstorming, researching, and creating a business plan draft .

While ChatGPT can generate huge amounts of text, it is wrong to expect it to generate the whole business plan immediately. To use ChatgGPT effectively when generating your business plan, you should understand the various parts of your business plan. Once you understand these sections, you can ask ChatGPT to draft content and guidelines for each section.

Alternatively, you can ask ChatGPT to generate an outline for your business plan. Based on this outline, you can instruct it to draft each part based on your provided information. More on this later.

Brixx Planning Software

Financial forecasting and planning.

Free plan Paid plan: From 13$ / month

In-depth financial forecasting.
Suitable for various business sizes.
Real-time collaboration and scenario testing.
Combine with ChatGPT for best results.

Brixx software is a f inancial forecast software for cash flow, budgeting, and business planning.

Apart from that, Brixx is also a business planning software that businesses can use to create a formal business plan that outlines the goals and objectives of their business and a roadmap to achieve them. If you’re curious about AI financial planning for business plans, then Brixx AI business planner might just be the tool you need.

With Brixx, entrepreneurs can communicate their business goals to stakeholders or share funding requirements with potential investors. If you already have a business running, you can use Brixx to monitor and forecast your business’s financial well-being to ensure it remains on track.

Finally, Brixx software can be integrated with AI tools like ChatGPT to create powerful AI business plan software. You can create a more comprehensive and accurate business plan using this combination.

How to write a business plan with ChatGPT: tips and prompts

70+ creative chatgpt prompts to innovate your marketing plan.

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To begin with, you need to generate an outline for your business plan. ChatGPT can help generate one by running a simple prompt with context about your business.

1. Generating a business plan outline

Prompt : Generate a business plan outline for a business selling “X services/products” to other small and medium businesses.

ChatGPT Prompts for Generating a business plan outline

Using this prompt, we have generated a well-structured business plan outline. The outline contains some of the most important topics you should address in your such as the following:

Executive Summary
Company Description
Market Analysis
Services and Pricing
Sales and Marketing Strategy
Operations and Management
Financial Plan

With ChatGPT, you can now generate a draft of each section above. Be keen to provide content in each section to allow ChatGPT to generate content with more precision.

2. Generating executive summary

Prompt : Create a brief overview of the executive summary of “Business X“ and its mission statement.

ChatGPT prompt for Generating executive summary

Other prompts you can use include:

Discuss the target market and how “business X“ plans to meet their needs.
Highlight the company’s unique selling proposition (USP) and competitive advantage in the “ X industry”.

3. Performing a market analysis

Prompt : Write and market research section for my “x” business plan. Please identify the “X” services’ target market. Remember to identify any market trends or changes that may affect the demand for “X” services and estimate the market size and growth potential for the “X” industry.

ChatGPT Prompt for Performing a market analysis

4. Competition analysis

Prompt: Generate a competition analysis for my business that offer “X” services. Identify competitor strengths and weaknesses.

5. Generating a sales and marketing strategy

Prompt: Generate a sales and marketing strategy for my “X business”. Include sales tactics, strategies for closing deals, and customer retention strategies.

ChatGPT Prompt for Generating a sales and marketing strategy

6. Operations and management

Prompt : Discuss the details of operations for my business plan, such as “X” infrastructure and technology to use, service level agreements, and customer support policies and procedures.

ChatGPT Prompt for Operations and management

7. Generating a financial plan

Prompt: Generate revenue and sales forecasts, cost structure, and expense projections. Include a break-even analysis and profitability forecasts, funding requirements, and potential funding sources.

ChatGPT Prompt for Generating a financial plan

8. Conclusion

Prompt: Generate a conclusion to recap the business plan and a call to action for potential investors and customers.

ChatGPT Prompt for Generating conclusion

In the section above, we discussed some ChatGPT prompts you can use to brainstorm or generate a draft of a business plan. While most of the outputs sound convincingly accurate and well structured, cross-check every detail and customize the plan accordingly.

ChatGPT is a great tool for business owners and individuals researching and drafting a business outline. Here are some tips to help you get the most out of ChatGPT when generating your business outline:

Be as descriptive as possible when describing your business ideas and goals to help ChatGPT understand your business better.
Use keywords relevant to your business to help ChatGPT understand the content of your business.
Provide detailed information about your competition, products and services, financial projects, and target marketing. Feeding ChatGPT with generic prompts will only generate generalized suggestions that may not be actionable.
Use ChatGPT as a tool: While ChatGPT is a valuable tool for researching new ideas, it should never be a replacement for human ideas and intuition. Always rely on human expertise and experience when making key decisions.
Review, and fact-check : ChatGPT, and other similar tools are prone to “hallucinations”. Solely relying on these tools can potentially mislead you.
Use up-to-date data sources: Remember that ChatGPT relies on the knowledge it was fed during training. Some of this information could be outdated at the time of writing. It is important to check whether the data and statistics used by ChatGPT are still relevant.

Most businesses use a business plan to outline the company’s strategies, objectives, and goals. Others use it as a proposal to attract investors on board, identify opportunities, and plan resources. Regardless of your motivation, the quality of your business plan will always impact the results.

In this section, we explore how you can always ensure that your AI-generated business plan effectively communicates your business’s vision. Make sure to also check out these 5 profitable business ideas to capitalize on the AI hype.

1. Edit and review the business plan

While AI business plan generators can save you lots of resources in terms of time and cost, they are also prone to inaccuracies. A thorough review of the plan you have generated allows you to ensure that the business plan you have generated aligns with your business strategy. Through a review, you can also evaluate whether the AI-generated business plan addresses key issues such as market analysis, competition, and financial projections.

2. Make sure it is actionable

A business plan that only gives an overview of the company’s goals, objectives, and financial and market standpoints is not good enough. A better business plan also highlights small, measurable, achievable, realistic, and time-bound ( SMART ) goals with a clear roadmap on how your business can achieve them.

Image source

3. Ensure only credible data sources are used

The accuracy, quality, and credibility of the data sources you use when putting together your business plan directly affect the quality and reliability of your business plan. With the advancement of AI in market research , it has become easier than ever to analyze huge amounts of data. However, it is important that you check whether the sources are credible.

4. Seek expert advice

The advent of AI-powered generative tools has made it easy to create almost anything. However, this does not overrule the importance of seeking the services of an expert. An expert in your business domain can help you discover some mistakes in your business plan that may not be apparent to you.

5. Make sure it is clear and readable

Just like any other document, a business plan has an audience. Using technical jargon to impress your audience may not be effective in all cases. Therefore is important that you evaluate your AI-generated business plan and ensure that it is written in plain simple language . You may also want to include graphs and visual aids to boost understanding of content and convey important messages.

6. Customize your AI-generated business plan

AI-generated business plans form a good starting point when drafting your business plan. However, AI business plan generators should in no way be a substitute for your intuition and judgment. Every business has unique challenges and needs, it is important that you adapt any AI-generated business plan to fit your needs before using it.

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AI business plan generators and other AI tools have undoubtedly made it easy for entrepreneurs to bootstrap a business quickly and efficiently. After creating a business plan, it is also important that you establish an online presence through a website. AI website builders such as 10Web AI Website Builder can help you with this. 10Web AI Website Builder leverages AI to automatically generate a website with unique content and images tailored to your business needs. All you have to do is answer questions about your company, such as the company name, type, description, and services you provide. A website allows you to create an audience, and establish credibility while also displaying your products and services.

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How much of the business planning can I trust to AI?

How much should I know about my business idea to start planning it?

How to make a quick website for my new business?

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Generate your website now for free.

Create your dream website with 10Web AI Builder and take your business online!

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This is a great article, it helped me to understand how to use AI and what is the human rol when doing it. Thank you.

I’m trying to create a business plan to attract investment for a food truck company, please what free AI software do you think is best for me?

Hi Moyin, most of the tools listed in the article have a free plan available. So what I would suggest is trying 3-4 of them to see which one meets your specific needs the best.

I am starting a small wellness and health business from scratch needed help to create a plan to present to apply for a grant the computer said my email is already linked to ai but I cant log in

Hi Michiel, what tool are you trying to use?

6 Best AI-Powered Business Plan Generators (December 2023)

An entrepreneur is, in essence, a maker of plans. Actionable, specific plans for the realization of things that don't yet exist; turning ideas into action.

It sounds simple, but any business owner who has tried to start, build and grow a business knows how tricky this skill can be. Because, let's face it: business is too complicated to simply sit down and make 'one plan, one business plan to rule them all...'.

It's product and marketing plans. It's legal and financials; customer support and content plans. If you're doing it right, entrepreneurship means you are always standing at the edge of your next plan, always in a position to pivot as new information comes in and to update your plans accordingly.

The problem with such dynamic planning is that it takes time. Time to write out your plan. To assess what happened, and reassess if the current gameplan is still the best path. To think through the expected outcomes, costs and ROI.

Let alone making plans for things you're not-so-well-versed in. "I know I should have a Customer Onboarding Plan, but can someone please remind me of best practices again?"

Fortunately, we live in 2023 and some of the most powerful AI models in existence are available to help us with the more mundane and administrative side of business planning; so that you can focus on the strategic inputs and let your new AI-powered tools fill in the details.

In this post, I'll be sharing 6 of the best such AI-powered business plan generators. From tools to help you write out a formal business plan proposal (say, for applying for a business loan) to apps that will guide you through and generate plans for every step of your business building journey.

Let's take a look.

Best AI-Powered Business Plan Generators (2023 List)

Tarkenton GoSmallBiz

Bizway is a little bit different to the other platforms on this list. From the ground-up, it's built with a simple idea: every task in your business deserves an AI Assistant. And while that absolutely does include business plan writing; it also includes every other step in that process.

When you're planning your business, you'll need some help with a variety of tasks. With Bizway, you can create:

Market Research Assistants: To help you estimate market size, brainstorm target market segements and help with your pricing;
Product Experts: To help you brainstorm product ideas, features, and how you'll develop it;
Social Media Marketing Assistants: To write your content, brainstorm topics and ideas, do keyword research, and whatever else;
And whatever other roles you need to help perfect your business plan.

This gives you full flexibility and freedom to sharpen your thinking and ideas for your business, before concretizing it in a more formal business plan.

Then, if you do need a more formally written document for an investor or when seeking funding, simply:

Fill in the Business Model details that you'd like to include;
Create a custom AI Assistant, name it 'Business Plan Writer' and give it instructions about styling, length and sections;
Toggle on your new Business Plan Writer Assistant, and simply ask it to 'Write my business plan in full';
And voila! Your business plan is served;
Bonus: You can then follow up and ask for specific sections or details to be added/rewritten as you please.

The best part? Bizway doesn't end with a business plan. Once you have your plan, Bizway can serve as your new hub; with a team of custom AI Assistants to help you launch, grow and manage your business going forward.

Try Bizway .

2. LivePlan

Next on our list is LivePlan. This AI-powered tool is best known for its step-by-step guidance and interactive financial forecasting. It features easy-to-use templates and pitch guides, which can be a great starting point for startups and SMEs. LivePlan's Pitch feature helps you to quickly prepare a one-page infographic that highlights your business idea and its profitability to investors.

In addition, LivePlan allows you to benchmark your forecasts against similar businesses, giving you an insight into your competitive standing. The tool's performance dashboard also keeps you updated on your business progress, ensuring you stay on track with your plan.

3. Upmetrics

Upmetrics is an excellent AI-powered business plan generator that offers a plethora of features including a business plan editor, financial forecasting, and a collaboration feature that allows your team to work together on the plan. One standout feature of Upmetrics is its repository of more than 20,000 business ideas, which can provide inspiration for your own venture.

Additionally, Upmetrics has a Business Plan Analytics feature that allows you to analyze your business strategy and optimize your plan for maximum effectiveness. This is an excellent tool for entrepreneurs who want a deeper understanding of their business strategy.

4. IdeaBuddy

IdeaBuddy is a novel AI-powered business plan generator that targets entrepreneurs and startups in the initial stages of planning. The platform takes users through an organized idea development process dubbed "Idea Journey" that includes creating a business concept, building a business model, and planning a budget.

IdeaBuddy also offers an attractive feature named Storyboard. This tool allows you to visualize your business journey and share your vision with potential investors and stakeholders, fostering a deeper understanding of your idea.

5. GoSmallBiz

GoSmallBiz is a comprehensive business plan generator powered by AI. It covers all the essential aspects of a business plan including executive summary, company description, product/service line, and market analysis.

What sets Tarkenton GoSmallBiz apart is its integrated educational resources. With hundreds of business courses and webinars, users can deepen their business knowledge while creating a business plan. The AI tool also includes a real-time performance score that provides immediate feedback on your plan.

Rounding up our list is Bizplan, an AI-powered tool that makes business planning enjoyable with its interactive and easy-to-use interface. Bizplan breaks down the business plan creation process into digestible pieces through its "builder" approach.

Its standout feature is its ability to connect users to a global community of entrepreneurs, Fundable, where you can share ideas and seek feedback. Bizplan also has a robust financial forecasting tool that can help you project revenue, costs, and cash flow.

In conclusion, AI-powered business plan generators are an invaluable resource for entrepreneurs, startups, and small businesses alike. They not only simplify the business plan creation process but also provide insights and features that can significantly boost the success of your venture. With tools like Bizway, LivePlan, Upmetrics, IdeaBuddy, Tarkenton GoSmallBiz, and Bizplan at your disposal, you can confidently create a business plan that is both compelling and investor-ready.

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How to Design an AI Marketing Strategy

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Abhijit Guha,
Dhruv Grewal

In order to realize AI’s giant potential, CMOs need to have a good grasp of the various kinds of applications available and how they may evolve. This article guides marketing executives through the current state of AI and presents a framework that will help them classify their existing projects and plan the effective rollout of future ones. It categorizes AI along two dimensions: intelligence level and whether it stands alone or is part of a broader platform. Simple stand-alone task-automation apps are a good place to start. But advanced, integrated apps that incorporate machine learning have the greatest potential to create value, so as firms build their capabilities, they should move toward those technologies.

What the technology can do today—and what’s next

Idea in Brief

The challenge.

At many firms, the marketing function is rapidly embracing artificial intelligence. But in order to fully realize the technology’s enormous potential, chief marketing officers must understand the various types of applications—and how they might evolve.

The Framework

Classifying AI by its intelligence level (whether it is simple task automation or uses advanced machine learning) and structure (whether it is a stand-alone application or is integrated into larger platforms) can help firms plan which technologies to pursue and when.

Implementation

Companies should take a stepped approach, starting with rule-based, stand-alone applications that help employees make better decisions, and over time deploying more-sophisticated and integrated AI systems in customer-facing situations.

Of all a company’s functions, marketing has perhaps the most to gain from artificial intelligence. Marketing’s core activities are understanding customer needs, matching them to products and services, and persuading people to buy—capabilities that AI can dramatically enhance. No wonder a 2018 McKinsey analysis of more than 400 advanced use cases showed that marketing was the domain where AI would contribute the greatest value.

Chances are, you haven’t asked the right questions.

Thomas H. Davenport is the President’s Distinguished Professor of Information Technology and Management at Babson College, a visiting scholar at the MIT Initiative on the Digital Economy, and a senior adviser to Deloitte’s AI practice. He is a coauthor of All-in on AI: How Smart Companies Win Big with Artificial Intelligence (Harvard Business Review Press, 2023).
AG Abhijit Guha is an associate professor in the department of marketing at the Darla Moore School of Business at the University of South Carolina. His research and teaching interests include retailing, pricing, and artificial intelligence.
DG Dhruv Grewal holds the Toyota Chair in Commerce and Electronic Business and is a professor of marketing at Babson College. He is a coauthor of Marketing and Retailing Management and the author of Retail Marketing Management: The 5 Es of Retailing .

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Using an AI business plan generator like PitchBob offers several benefits: ‍ Time-saving: AI technology automates creating a business plan, saving entrepreneurs significant time and effort. It eliminates manual formatting and researching, allowing users to focus on other critical aspects of their venture. ‍ Efficiency: The AI-powered generator analyzes the user's input and applies natural language processing to extract relevant information. It then generates a comprehensive and professional business plan tailored to investors' and stakeholders' specific needs and requirements. ‍ Accuracy: With AI, the generated business plan is based on data-driven insights and industry best practices. This increases the accuracy and credibility of the plan, enhancing its chances of being well-received by potential investors and partners. ‍ Consistency: AI ensures consistency in the structure and format of the business plan. It eliminates human errors and inconsistencies from manually creating or updating the plan, providing a polished and cohesive presentation. ‍ Accessibility: An AI business plan generator makes the process more accessible to a wider range of entrepreneurs, including those without extensive business planning experience. It provides a user-friendly interface and guidance throughout the process, making it easier for individuals to articulate their ideas and showcase their potential. ‍ Overall, leveraging an AI business plan generator streamlines the planning process, improves the plan's quality, and increases entrepreneurs' efficiency and effectiveness in presenting their venture to potential stakeholders.

AI/Chat GPT-4 is capable of generating business plans with a high level of accuracy. The AI/Chat GPT-4 algorithms used in platforms like PitchBob are trained on vast amounts of data, including successful business plans, industry trends, and best practices. This allows the AI to understand a comprehensive business plan's key components and structure. ‍ By leveraging natural language processing and machine learning techniques, AI analyzes the user's input and extracts relevant information to create a customized business plan. It considers the specific industry, target market, competitive landscape, and financial projections. ‍ While AI-generated business plans provide a solid foundation, it's important to note that the user should review and customize them. Entrepreneurs can add their unique insights, adapt the plan to their business model, and incorporate their expertise and vision. ‍ AI-generated business plans offer numerous advantages, including increased efficiency, consistency, and access to data-driven insights. ‍ However, it's crucial to understand that human expertise and judgment are still essential in refining and tailoring the plan to meet the specific needs and goals of the business. ‍ Combining AI's accuracy and human input ensures a comprehensive and well-crafted business plan effectively communicates the venture's value proposition and growth potential.

While AI business plan generators offer many benefits, it's important to be aware of their limitations. Here are a few factors to consider: ‍ Lack of human creativity: AI algorithms excel at analyzing data and generating content based on patterns and predefined rules. However, they may lack the human touch and creative thinking entrepreneurs bring to their business plans. ‍ AI-generated business plans may not capture unique insights, innovative strategies, or nuanced market understanding that human entrepreneurs can provide. ‍ Industry-specific knowledge: AI algorithms rely on data and patterns from various industries but may not have deep domain expertise in niche or specialized markets. Entrepreneurs operating in particular industries or niche markets may need to supplement the AI-generated plan with industry-specific knowledge and insights. ‍ Limitations in data availability: AI algorithms depend on the data they are trained on. If there is limited or outdated data available, it may impact the accuracy and relevance of the generated business plan. Entrepreneurs should provide up-to-date and accurate information to obtain the most reliable results. ‍ Lack of customization: While AI business plan generators can provide a solid foundation, they may not capture each business's unique aspects and individuality. Entrepreneurs should review and customize the plan to align with their goals, market positioning, and competitive advantage. ‍ Risk assessment: AI-generated business plans may not adequately address risk factors or assess potential challenges specific to the entrepreneur's venture. Conducting a thorough risk analysis and considering factors such as market volatility, regulatory compliance, and potential obstacles to success is essential. ‍ Viewing AI-generated business plans as a helpful tool rather than a substitute for human expertise and judgment is important. ‍ Entrepreneurs should use AI-generated plans as a starting point, leveraging their insights, industry knowledge, and market research to create a comprehensive and tailored business plan that reflects their unique vision and goals.

While AI business plan generators offer numerous benefits, knowing the potential risks is important. Here are a few considerations: ‍ Overreliance on automation: Relying solely on an AI business plan generator without human involvement can lead to a lack of critical thinking and strategic decision-making. Entrepreneurs should exercise caution and actively participate in the plan generation process, providing their unique insights and expertise. ‍ Limited context and judgment: AI algorithms analyze data and patterns but may not fully understand the broader context or exercise human judgment. This can generate plans that may not consider industry nuances, market dynamics, or individual circumstances. Entrepreneurs should use the AI-generated plan as a starting point and customize it based on their expertise and market understanding. ‍ Data accuracy and bias: AI algorithms rely on data to generate plans, and if the underlying data is incomplete, outdated, or biased, it can impact the accuracy and reliability of the developed plan. Entrepreneurs should ensure their data is accurate and relevant to their business to obtain more reliable results. ‍ Intellectual property concerns: When using an AI business plan generator, there is a potential risk of exposing sensitive or proprietary information. Entrepreneurs should carefully review the terms and conditions of the platform to ensure the protection of their intellectual property rights. ‍ Security and privacy: As with any technology that involves data processing, there is a need to consider security and privacy measures. Entrepreneurs should choose a reputable AI business plan generator that prioritizes data protection and implements robust security measures. ‍ To mitigate these risks, entrepreneurs should approach AI-generated plans as a tool rather than a definitive solution. ‍ It's essential to exercise critical thinking, validate the generated plan with market research and expert advice, and tailor it to suit their business needs and objectives. By combining AI-generated insights with human expertise, entrepreneurs can maximize the benefits while minimizing potential risks using an AI business plan generator.

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IdeaMaster is an AI Business Plan generator that uses GPT-3.5 to generate comprehensive business plans for your startup. Simply select your industry and product type to get started.

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Modify and regenerate sections of your business plan using premade or custom prompts. Our AI will help you refine your plan to perfection.

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Frequently Asked Questions (FAQ)

Initiate with Your Business Concept: Lay the Groundwork: Start by introducing your business idea into Plannit AI's Business Plan Generator. This first step is crucial, as it sets the tone for a tailored, insightful business plan that truly resonates with your vision. Capture the Essence: Our platform is designed to grasp the nuances of your concept, ensuring that the generated plan accurately reflects the core and potential of your business.
Navigate Through the AI-Guided Questionnaire: Tailored Interactive Experience: Plannit AI’s AI-guided questionnaire is your interactive guide through the planning process. It meticulously gathers information about your business's objectives, strategies, and market positioning, ensuring a comprehensive and reflective plan. Intelligent Feedback and Suggestions: As you progress through the questionnaire, benefit from smart prompts and suggestions, ensuring that your plan is not just detailed but also strategically sound and aligned with industry standards.
Generate Your Plan with Advanced AI: Intuitive Plan Creation: With the questionnaire complete, Plannit AI's advanced algorithms intelligently analyze your responses. They then craft a detailed, customizable, and strategically aligned business plan, providing you with a structured, coherent, and actionable format. Benefit from AI-Powered Insights: Plannit AI offers AI-driven insights and suggestions, ensuring your plan is not just a document but a strategic tool equipped with tailored AI prompts and an in-app plan editor. Get inspired by browsing through our sample business plans, a collection of successful strategies across various industries.
Finalize Your Plan with Confidence: Dynamic Adaptation and Refinement: Plannit AI recognizes that a business plan is a living document. Our platform allows for continuous adaptation and refinement, ensuring your strategy remains agile, relevant, and aligned with your evolving business goals. Professional Presentation and Sharing: Once your plan meets your standards, utilize Plannit AI's export features to present your plan professionally. Choose between various formats for exporting your business plan, ready to impress stakeholders, attract investors, or guide your team. Review and Adapt: Ensure your business plan is a living document, ready to evolve with your growing business. Plannit AI's dynamic platform allows you to adapt your strategy as new opportunities or challenges arise.
Roadmap for Success: At its core, a business plan acts as a strategic guide, providing detailed steps on how your business will achieve its objectives. It helps you navigate the startup phase, manage growth effectively, and tackle unforeseen challenges with a well-thought-out strategy.
Securing Funding: For startups and businesses looking to expand, a business plan is crucial for securing loans or attracting investors. It demonstrates to potential financial backers that your business has a clear vision, a solid strategy for profitability, and a plan for delivering returns on their investment.
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Market Analysis and Strategy: It allows you to conduct an in-depth analysis of your target market, understand customer needs, and position your product or service effectively. The marketing strategy outlined in your business plan helps in identifying the best channels and tactics to reach your audience and achieve market penetration.
Financial Planning: One of the most critical components of a business plan is the financial forecast. It outlines your funding requirements, expected revenue, profit margins, and cash flow projections. This section is essential for budgeting, financial management, and ensuring the financial viability of your business.
Goal Setting and Performance Measurement: A business plan sets clear, measurable goals and objectives. It provides a framework for monitoring performance, measuring success, and making necessary adjustments to stay on track.
Aspiring Entrepreneurs: If you're at the idea stage, looking to transform your vision into a viable business, Plannit AI offers the tools and guidance to bring your concept to life. Our platform helps you articulate your business idea, define your target market, and develop a solid plan to turn your dream into reality.
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Small Business Development Centers (SBDCs) and Government Agencies: Government and SBA backed entities can greatly benefit from integrating Plannit AI into their services, enhancing their ability to support a larger number of clients more efficiently. By facilitating quicker, more in-depth business plan development, these organizations can spend more time assisting with plan execution and less time on creation, ultimately serving their communities more effectively.
Anyone with a Business Idea: Ultimately, Plannit AI is for anyone with a business idea, regardless of industry, experience, or stage of business development. Our mission is to democratize business planning, making it accessible, understandable, and actionable for everyone.
Interactive Questionnaire and ChatGPT Integration: Plannit AI transforms the business planning process into an engaging conversation. Through our advanced ChatGPT integration, we offer a questionnaire that dynamically adapts to your responses, ensuring your plan is personalized, comprehensive, and aligned with your business goals.
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Extensive Educational Resources: Our Education Center is packed with articles, guides, and sample plans to bolster your planning process. It's designed to arm you with the knowledge to navigate the complexities of your industry confidently.
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Customer Success Stories: Our users' achievements are a testament to Plannit AI's effectiveness. These success stories illustrate how diverse businesses have utilized our platform for strategic planning and growth.
Tailored Business Plan Creation: Our platform stands out with its tailored approach, featuring customizable templates that directly cater to your business type and industry, making plan creation straightforward and relevant.
Content Generation:: ChatGPT helps draft various sections of a business plan, from executive summaries to marketing strategies, by providing structured and coherent text based on the prompts given.
Strategic Insights: It can offer suggestions on business strategies by analyzing trends and providing examples from a wide range of industries.
Financial Planning: While it can't replace professional financial advice, ChatGPT can guide the structure of financial projections and statements, helping you consider important financial aspects of your plan.

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NICE's CEO says AI is 'the ultimate alchemist' that can transform customer-experience solutions

The software company NICE launched Enlighten AI to improve customer service and clients' efficiency.
Enlighten AI decreases the workload for representatives and enhances customer interactions.
This article is part of " CXO AI Playbook " — straight talk from business leaders on how they're testing and using AI.

For "CXO AI Playbook," Business Insider takes a look at mini case studies about AI adoption across industries, company sizes, and technology DNA. We've asked each of the featured companies to tell us about the problems they're trying to solve with AI, who's making these decisions internally, and their vision for using AI in the future.

NICE, which stands for Neptune Intelligence Computer Engineering, is a customer-experience-software company headquartered in Hoboken, New Jersey. The organization provides artificial-intelligence-powered products — such as virtual customer-service agents — to more than 25,000 organizations worldwide.

Situation analysis: What problem was NICE trying to solve?

Many companies still use manual processes for customer-service and -experience tasks. Historically, those tasks have been too complex to monitor and, consequently, difficult to automate, NICE CEO Barak Eilam told Business Insider. He added that many organizations still invested more in labor than in technology .

Many companies strive to reduce friction in their customer-service operations, but they aren't always able to provide high-quality assistance or adequately understand what customers need.

"It's a pretty interesting challenge to see how AI can assist in those cases that were hard to solve so far," Eilam said. He views AI as the "ultimate alchemist" that can help bring together people, technology, and processes.

Key staff and partners

NICE projects its revenue will reach $2.7 billion this year. It has more than 8,000 employees, including scientists, engineers, and business and thought leaders. The organization invests about 15% of its revenue back into research and development, Eilam said.

Over the past few years, NICE has shifted more key staff to AI, he said: "It's not just generic AI. They're all really experts in customer experience."

NICE also leveraged its existing customers and the vast amounts of data it's accumulated over the past few decades to build software that helps clients boost their customer-experience initiatives, Eilam said.

AI in action

About 2 ½ years ago, NICE launched Enlighten AI for CX , a set of solutions to optimize self-service and customer-experience operations, improve engagement, and boost customer satisfaction.

Eilam said Enlighten AI "dramatically improves" productivity and efficiency for customer-experience teams by automating many labor-intensive tasks , such as note-taking during customer-service calls. Customer-experience professionals can also quickly access information to take data-driven actions to solve customer problems. Enlighten Autopilot, one of the products within NICE's Enlighten AI for CX repository, enhances self-service with an AI-powered virtual assistant.

With Enlighten Copilot, another product, agents can access real-time insights to offer quick, personalized client interactions instead of putting customers on hold to look up information to answer their questions, Eilam said.

Did it work, and how did leaders know?

"AI is now leading every conversation with our customers," Eilam said. Many existing customers are adding Enlighten AI to their portfolios, and NICE is attracting new customers with its AI capabilities.

For example, the waste-management corporation Republic Services was already using NICE products but added Enlighten AI for Customer Satisfaction to measure, improve, and assess customer sentiment. Its customer-support system was manual, and the company felt that key insights were being missed.

Using Enlighten AI, Republic Services reduced the manual work of its customer-experience agents. It decreased repeat calls by 30% and lowered the average time spent on calls, despite an increase in seasonal call volume. The company also reduced negative customer sentiment by 33%.

The tech company Open Network Exchange also uses Enlighten AI to improve its customer care. Previously, ONE used manual quality-assurance processes and chose random customer calls to evaluate. This hindered supervisors' ability to objectively and holistically assess agents' skills that influenced customer experiences — and therefore interfered with their ability to provide meaningful coaching.

The organization implemented Enlighten AI to monitor 100% of its customer interactions and gather insights about the behaviors influencing customer sentiment. Within 90 days, the company began improving how it coached agents, saving supervisors four to five hours a week.

What's next?

NICE continues to focus on AI innovation, Eilam said.

He told BI the company saw many opportunities to expand its AI offerings by partnering with organizations that still spend 90% of their budgets on labor and 10% on technology and continue to rely on manual processes.

"A lot of new, big things are coming," Eilam said, adding that NICE planned to announce new products at its upcoming Interactions Customer Conference 2024 in June.

"That allows us to have a very optimistic view of the future," he said.

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The best ai business idea in 2024.

We recently discussed some of the best artificial intelligence business ideas. While the best business idea for you may depend on your skill set and experience, we curated a list based on opinions from business experts. You can check out our free report on 18 Best AI Business Ideas in 2024 .

Prominent AI startups: At a Glance

Anthropic, Databricks, and Abridge are among the leading AI startups. Let’s take a look at their offerings and their position in the market. You can also take a look at the biggest publicly traded AI companies in the world .

Anthropic is an artificial intelligence company based in the United States. Dario and Daniela Amodedi represent the company as CEO and president. The company is an AI safety and research company focused on developing safe AI systems. On March 20, Anthropic announced a partnership with Amazon Web Services (AWS) and Accenture plc (NYSE: ACN ) to develop solutions for enterprises. 1,400 engineers at Accenture plc (NYSE:ACN) are being trained to facilitate organizations in fine-tuning Anthropic’s AI models deployed on AWS. Claude, Anthropic’s AI model, is already deployed at the District of Columbia Department of Health. It can create a custom chatbot, also referred to as Knowledge Assist, and is provided through Amazon Bedrock. On March 27, CNBC announced that Amazon.com, Inc. (NASDAQ: AMZN ) was set to invest an additional $2.75 billion in Anthropic, bringing their total investment to $4 billion. As per Anthropic’s last valuation, the company is valued at $18.4 billion.

Databricks is another prominent artificial intelligence company based in California, United States. The data analytics company hosts a cloud-based platform that facilitates enterprises in building, deploying, and governing data and AI models. On September 12, 2023, the company announced its series I funding worth $500 million, bringing its valuation to $43 billion and a price per share of $73.50. On March 19, Databricks announced the inclusion of Lilac, a scaleable data search, clustering, and data analysis tool, to evaluate data more easily using AI. Lilac can evaluate the output from large language models to facilitate the preparation of unstructured datasets for model training. The integration will help customers build generative artificial intelligence applications using their own company data.

Abridge, founded in 2018, is a generative artificial intelligence company for clinical conversations. The AI is capable of converting clinical conversations between patients and medical professionals into clinical notes in real-time. Abridge is able to recognize and curate notes in over 14 languages and has more than 50 specialties. On February 23, Reuters reported that Abridge had raised $150 million in a Series C round, bringing its valuation to a staggering $850 million. The funding was led by Lightspeed Venture Partners and Red Point Ventures. Abridge does not stop here. On March 19, Abridge announced a collaboration with NVIDIA Corporation (NASDAQ: NVDA ). Abridge will leverage NVIDIA Corporation’s (NASDAQ:NVDA) resources and foundational models to deploy generative AI models that improve clinical procedures. With multiple conversations happening in a clinical setting, it is quite challenging to collate all information. Abridge aims to bridge the gap of missing data and NVIDIA Corporation (NASDAQ:NVDA) will help the company achieve this objective.

AI-Backed Business Minds

Samantha North is a blogger who moved from the United Kingdom to Portugal in 2020. On September 12, 2023, Business Insider reported that she made $115,000 in 2022 from her blogging websites. Samantha stated that she uses artificial intelligence to type out her blogs and leverages ChatGPT to extract and test ideas. ChatGPT also helps Samantha analyze her content strategies. She has a dedicated section on AI tools on her website under “AI Mastery.” While she started her AI journey from Jasper, she switched to ChatGPT as Jasper focused more on marketing content. Eventually, she purchased ChatGPT Plus for $20 a month. Samantha now uses Claude 2 since she believes it is easier to use and is very clean and direct. She still uses ChatGPT as she has trained to model to adapt to her tone and voice.

Sultan Ali is a 25-year-old based in Pakistan. He is an AI content editor who started his journey when he was using ChatGPT to do his classwork and homework. While he was completing his MBA, he used ChatGPT for assistance but began to edit content to give it a human touch. He started offering AI content editing services on Fiverr in March 2023. On February 26, Business Insider reported that Sultan had completed over 150 assignments to date and generated over $3,500 in part-time side income.

How Are Existing Companies Transforming Their Offerings with AI

Salesforce, Inc. (NYSE: CRM ) and Adobe Inc. (NASDAQ: ADBE ) are integrating artificial intelligence in their offerings at a rapid pace. Let’s take a look at their features.

Salesforce, Inc. (NYSE:CRM) offers a range of AI tools that may help small business owners set up their ventures. The Einstein 1 Platform, a conversational AI assistant for CRM, offers a range of predictive and generative AI tools allowing business owners to develop and deploy AI experiences in Salesforce. Einstein 1 delivers over 215 billion predictions every day. As per Einstein 1’s latest update, the platform now offers knowledge creation tools, search tools, sales summaries, and call exploration tools. These tools help business owners extract important information from calls, summarize interactions, summarize sales records, and forecast strategies. On April 25, Salesforce, Inc. (NYSE:CRM) announced the launch of new tools in Einstein AI to improve seller productivity and enhance the use of generative AI. The Copilot Analytics tool is capable of analyzing the performance of Einstein Copilot. The Copilot is also able to suggest actions to help individuals complete tasks with greater efficacy. Other tools specifically for salespeople include guidance, forecasting, follow-up emailing, and call exploration.

Adobe Inc. (NASDAQ:ADBE) is a leading software company with a complete suite of creative applications. In addition to its suite of creative apps, the company also offers a range of AI products including Adobe Firefly, Adobe Express, Acrobat AI Assistant, and Adobe GenStudio. Adobe Firefly is capable of generating images. Using the latest Adobe Firefly Image 3 Model, individuals can generate images, add images, remove images, and expand content. It is also functional in Photoshop beta. Adobe Express, on the other hand, is an all-in-one content creation application that is capable of producing social media posts, images, videos, and flyers. It also holds editing capabilities allowing individuals to edit PDFs. Adobe Inc.’s (NASDAQ:ADBE) AI assistant for Acrobat allows individuals to extract summaries of content and important information in response to search queries. Adobe GenStudio is an all-in-one product for marketers willing to execute cross-channel campaigns. The platform can generate on-brand content using AI. It also offers marketers templates and AI-backed content review tools. You can also take a look at the top alternatives to Adobe Creative Cloud in 2024 .

Now that we have discussed AI-backed entrepreneurship, let’s take a look at the best AI business idea in 2024. You can also read our piece on the most advanced AI assistants .

A close-up of a laptop with a software engineer coding on the monitor.

Our Methodology

To gather a list of the 18 best AI business ideas in 2024, we consulted over 10 rankings and reports on the internet. We picked the business ideas that appeared in 50% of our sources and then ranked them.

At Insider Monkey we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points. ( see more details here ).

AI A/B Testing

Starting an A/B testing business backed by AI is a great option for budding entrepreneurs. Evolve AI is an example of an artificial intelligence company that offers AI A/B testing. The tool helps marketers build, deploy, analyze, and optimize AI tests. On November 9, 2023, Evolv AI announced the closing of a new equity round worth $13.3 million, bringing its total funding to $23.3 million.

To learn about other AI business ideas that align with your skill set, read our free report on the 18 best AI business ideas in 2024 .

If you are looking for an AI stock that is as promising as Micron but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock .

READ NEXT: Michael Burry Is Selling These Stocks and Top 20 Countries Wealthy People Choose to Live In .

Disclosure: None. This article is originally published on Insider Monkey .

IBM marketing VP on sales-driven ads and the brand’s plan to unite cloud computing & AI

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By Audrey Kemp, LA Reporter

May 22, 2024 | 7 min read

Listen to article 4 min

In an exclusive interview at the World Federation of Advertisers’ Global Marketer Week, Jonathan Adashek, IBM’s senior VP of marketing & communications, highlights IBM’s dedication to pioneering technologies like AI and hybrid cloud solutions – and the potential that these tools have to redefine marketing and business in near future.

Jonathan Adashek, Senior Vice President, Marketing and Communications, IBM

Adashek sits down with The Drum's Audrey Kemp to discuss marketing at IBM / Credit: Audrey Kemp

At the World Federation of Advertisers’ Global Marketer Week in Toronto, IBM’s senior vice-president of marketing and communications, Jonathan Adashek, shared his insights on the evolving landscape of marketing and the integral role technology plays in IBM’s strategic direction.

Adashek’s interest in aligning marketing with sales, leveraging AI and exploring future technologies like quantum AI provides a roadmap for IBM’s future growth, innovation and leadership in the computing industry.

Tightening the bonds between sales & marketing

At the heart of Adashek’s strategic approach is a sense that marketing and sales are converging, each party to an increasingly symbiotic relationship.

“There is more of an expectation for marketing organizations to be even closer aligned to sales than they have been in the past,” he explains, noting the complexity of modern sales processes involving diverse buying groups and intricate cycles.

It’s clear that Adashek views it as his responsibility to ensure that IBM’s marketing initiatives are always inherently connected to the company’s business needs. Every campaign he leads is designed to support IBM’s sales and business growth goals. “If it’s helping us to sell another instance of WatsonX [a commercial generative AI and scientific data platform], mainframe or whatever it might be, we need to make sure that all the work we’re doing is driving those business objectives,” he says.

The brand’s ‘Trust What You Create’ campaign, led by Ogilvy and launched at the Adobe Summit in March, exemplifies this approach. This project transformed the Las Vegas Sphere into a fishbowl with various fish symbolizing data issues, such as the ‘missing data fish’ and the ‘disco ball fish’ representing data drift. The creative execution not only captured attention but also underscored the importance of trusting data.

In Adashek’s view, the campaign served as a masterclass in modern B2B marketing. “The execution of it was so spot-on,” he recounts. “We told a story that was relevant for the audience that was there, that was tied to our business objectives, and tied to the objectives of our partner, Adobe, to make that be successful.”

At the same time, Adashek says, the brand’s marketing efforts always need to resonate with IBM’s longstanding reputation for innovation and excellence – ideas at the heart of the 113-year-old brand’s identity.

“We’ve got our principles that make us IBM and we can never deviate from those,” he says. “People engage with us because of what we bring to the table and who we are.”

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The union of cloud computing & AI as a competitive differentiator

Adashek, like many modern marketers, sees AI as the most potentially transformative technology for the marketing world today.

The impact of AI, he posits, will be “far-reaching” in marketing.

“AI is changing the way we approach everything,” he says. Specifically, Adashek suggests that marketers who lean into AI can expect to enjoy more precise data analysis, better-personalized content creation and more efficient content delivery.

In the years to come, Adashek echoes the words of IBM’s CEO, Arvind Krishna, who has articulated IBM’s vision to become the leading hybrid cloud and AI company.

“That’s where we’re focused and I think we are making a lot of progress,” Adashek says while acknowledging that the hybrid cloud industry is still nascent. He also expects the ongoing exploration of open-source methodologies and models to drive further innovation in these areas.

Beyond these investments, Adashek is optimistic about the potential for quantum AI – the intersection of quantum computing and artificial intelligence.

According to AI Multiple Research, quantum AI will be able to achieve results that are not possible with classical computers, like the rapid training of machine learning models and the creation of optimized algorithms.

“I am excited about what the future brings when quantum AI commercializes in a few years.”

For more insights from top marketers, check out Nissan CMO Allyson Witherspoon’s perspectives on automotive marketing in the age of connectivity & automation .

More from Artificial Intelligence

Industry insights.

The NIST hops on the AI bandwagon

On April 29, 2024, the U.S. Department of Commerce announced the release of four draft publications intended to help improve the safety, security, and trustworthiness of artificial intelligence (“AI”) systems. These publications were prepared by the Department’s National Institute of Standards and Technology (“NIST”) in response to President Biden’s landmark Executive Order that advances a coordinated, federal government-wide approach toward the safe and responsible development of AI (the “Executive Order”). For further information on the Executive Order, refer to our prior Tech Talk blog post here .

The four draft publications are:

AI RMF Generative AI Profile ( NIST AI 600-1 );
Secure Software Development Practices for Generative AI and Dual-Use Foundation Models ( NIST Special Publication (SP) 800-218A );
Reducing Risks Posed by Synthetic Content ( NIST AI 100-4 ); and
A Plan for Global Engagement on AI Standards ( NIST AI 100-5 ).

AI RMF Generative AI Profile

The AI RMF Generative AI Profile (NIST AI 600-1) is a companion to the Artificial Intelligence Risk Management Framework (AI RMF 1.0) (NIST AI 100-1), which was released in January 2023 and provides guidance regarding the design, development, use, and evaluation of AI products, services, and systems. The companion publication was developed by a generative AI public working group of more than 2,500 members and offers insights into how risks from generative AI can be managed across various stages of the AI lifecycle. More specifically, it defines 13 risks that are novel to, or exacerbated by, the use of generative AI, including data privacy, information integrity and security, intellectual property, and toxicity, bias, and homogenization. It also provides a set of more than 400 actions to help organizations govern, map, measure, and manage these risks.

Secure Software Development Practices for Generative AI and Dual-Use Foundation Models

Secure Software Development Practices for Generative AI and Dual-Use Foundation Models (NIST Special Publication 800-218A) augments a prior Secure Software Development Framework (Special Publication 800-218) by adding practices, tasks, recommendations, considerations, notes, and informative references that are specific to AI model development (i.e., data sourcing for, designing, training, fine-tuning, and evaluating AI models, as well as incorporating and integrating AI models into other software), throughout the software development life cycle. It is intended to be used by AI model developers, system producers, and system acquirers.

Reducing Risks Posed by Synthetic Content

Reducing Risks Posed by Synthetic Content (NIST AI 100-4) examines the existing standards, tools, methods, and practices, as well as the potential development of further science-backed standards and techniques, for:

verifying the authenticity of AI-created content and tracing its origins;
marking AI created content(e.g., using watermarking techniques);
identifying AI created content;
preventing the creation of child sexual exploitation material or nonconsensual intimate depictions of people made by generative AI, as well as evaluating the software designed for these tasks; and
overseeing and updating AI-created content.

The technical methods outlined in the publication are foundational elements that can enhance confidence in digital media and the credibility of the entities and individuals involved in its creation and distribution, by clarifying the application of AI in generating or modifying digital content.

A Plan for Global Engagement on AI Standards

A Plan for Global Engagement on AI Standards (NIST AI 100-5) furthers the policies and principles in the Executive Order, which instructed the Federal government to “promote responsible AI safety and security principles and actions with other nations, including our competitors, while leading key global conversations and collaborations to ensure that AI benefits the whole world, rather than exacerbating inequities, threatening human rights, and causing other harms.” (see Section 2(h) of the Executive Order). The publication emphasizes the need for a united approach involving major global allies, partners, and standards-setting bodies to guide the creation and adoption of AI-related standards, as well as to promote collaboration, coordination, and the free exchange of information.

The topics that were considered for standardization are as follows:

Standardization urgently needed and ready for Standardization

Terminology and taxonomy
Measurement and mitigations for risks and safety issues
Testing, evaluation, verification, and validation
Mechanisms for enhancing awareness and transparency about the origins of digital content
Risk based management of AI systems
Transparency among AI actors about system and data characteristics

Standardization needed, but requiring more scientific work

Energy consumption of AI models
Incident response and recovery plans
Conformity assessment and compliance procedures
Data sets for testing and evaluation
Channels for upstream reporting

Standardization needed, but requiring significant foundational work

Techniques for interpretability and explainability
Human-AI configuration

NIST is actively seeking feedback from the public on each of these publications. The deadline for comment submission is set for June 2, 2024. Those interested in providing their input can find the guidelines for comment submission within each of the individual publications. Stay tuned for more.

Compromise reached on the Artificial Intelligence Act
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Artificial Intelligence and Intellectual Property: what next for the UK?

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Milwaukee Area Technical College: Expands artificial intelligence program

To better provide area employers with skilled professionals in technology, Milwaukee Area Technical College (MATC) now offers the IT Network Specialist (AI Cloud and Virtualization) program to prepare students to obtain an entry-level position in information technology.

Taught through the STEM Academic and Career Pathway, the two-year associate degree program is the ideal launching pad for a career in IT. This program update helps students make use of artificial intelligence incorporating what it is, the ethics of AI and how to use it as a tool, and sets students up for success using and applying cutting edge technology in IT.

The IT Network Specialist (AI Cloud and Virtualization) program is available as a traditional two-year program with a combination of in-person and online classes, as an entirely online offering, or as an 18- to 20-month Accelerated Online cohort-based program where students take technical courses from the IT Network Specialist associate degree and IT Networking and Infrastructure Administration technical diploma.

Through hands-on coursework, students will work with emerging IT technologies in addition to setting up and troubleshooting computers, clouds and network operating systems. The IT Network Specialist (AI Cloud and Virtualization) program is an excellent environment for students with existing degrees, adult learners, career changers and displaced workers.

Because many MATC programs are related, students can earn the IT Networking and Infrastructure Administration technical diploma while working toward completion of the associate degree. By completing this new content students can earn an AI/AI Ethics Digital Badge to showcase proficiency in this exciting technology. This is in addition to many other digital badges the IT Networking program has to offer including: VMware Certified Professional (VCP-DCV), Cisco Certified Networking Associate (CCNAv7), Microsoft Certifications, Amazon Web Services Cloud Practitioner (AWS-CP), Testout and CompTIA (A+, Network+ and Security+).

Employment opportunities in artificial intelligence are strong. The Bureau of Labor Statistics estimates there will be 11.5 million data-related job openings by 2026. The demand for AI research scientists is expected to grow 19% by 2023 and for robotics engineers is expected to grow 9% by 2023. The projections clearly indicate the demand for AI engineers will continue to grow in the coming years. The median salary for working on computers and in IT was approximately $100,000. On average, AI research scientists earn $121,393 annually, with experienced professionals earning upwards of $200,000 yearly.