In this episode, Ben and Derek explain how useful AI is as a bookkeeper and junior financial analyst for startup founders and small business owners.

We use concrete examples on how to use AI to present and organize information, specifically financial data. We use AI to create spreadsheets and direct it to populate the spreadsheet with specified information. This can be very powerful for people that do not like math. Even if you do like math, it eliminates a huge amount of grunge work in setting up the spreadsheet and also when finding and plugging in numbers.

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In our last episode we discussed why using AI as co-founders or coaches is not a good idea.

In this week’s episode, Ben and Derek talk about how you can use AI effectively as an “intern” or assistant to offload time consuming tasks such as research or analysis of competitors, the market or even customer feedback.

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We are frequently asked “How good is the advice you can get from an AI?”. Our answer: AI is a decent assistant but it is definitely NOT a good partner or a good mentor. In fact, the advice you get from AI can be hurting your business or be harmful to founders.

In this week’s episode, Ben and Derek discuss AI’s deficiencies in being a good partner or advisor for entrepreneurs. In the following two episodes we will talk about what AI is actually good at and how founders can use ChatGPT and Claude to be their most efficient self as they grow their company.

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