Americans are now split on the achievability of the American Dream — the idea that anyone in the United States can achieve success through hard work and grit. While 53% of Americans believe the dream is still possible, 41% don’t believe it’s possible anymore and 6% say it was never possible, a 2024 Pew Research Center survey found.
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One person who still fully believes in the American Dream is Mark Cuban, who says that AI is making it more possible than ever.
AI Can Be a Free Mentor for Entrepreneurs
Cuban believes that AI is an invaluable tool for those looking to achieve wealth through entrepreneurship.
“The reason I’ve done ‘Shark Tank’ for so many years is because I believe the American Dream is alive and well — and AI is going to help that,” he said during the Clover x Shark Tank Summit. “There are no stupid questions with AI. It’s like having every professor I’ve ever had, or heard of, or ever existed, available to me.”
Cuban said that now, when entrepreneurs ask him questions, he refers them to a free version of AI.
“Ask it crazy questions about your business and then go into Gemini and have it do deep research on your industry and competitors,” he said. “Don’t be afraid to try it for everything. Write a business plan, a sales pitch, a song I can use to sell my product online.”
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Mark Cuban’s Personal AI Strategy for Business Growth
Cuban practices what he preaches, sharing how he personally uses AI.
“In my car, I’ll have AI set up in voice mode and I’ll have a conversation with it,” he said. “From a business perspective, I’m a believer that every company should know how someone will kick their ass. What better question to ask than: ‘Here’s my company and website, how would a competitor hurt my business?’ Don’t back down from these scenarios.”
Mark Cuban’s Warning: How AI Can Hurt Your Business
While Cuban sees great potential for how businesses can harness AI, he notes that it should not be a substitute for person-to-person interactions with customers.
“Face-to-face communication works to the advantage of a small business,” he said. “You know your customers. As we go more and more down the AI road, people will start to turn on AI bots doing all the work, and they will prefer to work with someone who gives them personal attention. Pick the right spots for AI to connect with people.”
Cuban also warns about the potential for AI to steal a business’s ideas or proprietary data. AI’s ability to predict ways of disrupting your business cuts both ways.
“If you have intellectual property, do not just post it on the internet,” he said. “You want to be able to protect that. In the medical field, research, etc., you don’t want to make your intellectual property available to these LLMs. The things you’re looking at patenting, you might want to think twice.”
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This article originally appeared on GOBankingRates.com: Mark Cuban: Everyone Should Harness AI To Achieve the American Dream
