Unlocking AI’s Potential for Small Businesses: A Guide for CTOs

In the dynamic world of technology that is constantly evolving, small businesses are increasingly looking to harness the power of artificial intelligence (AI) to drive innovation, efficiency, and growth. If you’re a Chief Technology Officer (CTO) of a small business, you’re in a pivotal position to steer your company toward success by strategically implementing AI. This blog explores the myriad opportunities AI offers and how it can revolutionize your business operations. From leveraging proprietary data and embeddings to simplifying complex forms and using code completion tools, we’ll dive deep into the practical applications of AI that can make a substantial impact on your organization. Join us on this journey as we unravel the dynamic thread of AI in the grand tapestry of business evolution.

In this post, Founder and CEO/CTO of FYC Labs Justin Fortier talks about five concrete steps you can immediately take to leverage AI effectively and bring your business to the next level.

The Dynamic Duo of Proprietary Data and AI

In the evolving landscape of artificial intelligence, a game-changing trend is taking center stage: the fusion of domain-specific knowledge with Chat GPT. If you’ve previously collected precious proprietary data through your application or you have crafted a data aggregator, this data can be reused for content creation purposes. Think dozens super super-optimized landing pages that take your domain knowledge to the next level created in minutes, not months.

The powerful new approach comes with using AI to add depth and character to your content beyond mere statistics and data dumps. It’s no longer sufficient to merely present the data. Now, we’re diving deeper by combining your proprietary data with a touch of AI magic. That crafts content that’s richer and more valuable for your users. The ultimate goal? Gaining a competitive edge in the ever-important SEO landscape, all while sticking to the best practices that drive you forward.

The goal is not just to produce new pages. To truly thrive, you should master the art of proper SEO structures and ensure seamless indexing, along with employing the right tagging techniques. By adopting these invaluable practices, you can set your business on a trajectory toward success.

Embeddings and String Matching

AI and Chat GPT are more than just tools for creating chatbots. They go far beyond simple prompt and response interactions. Diving into the world of vectors and embeddings can open up many possibilities. Think of embeddings as mathematical representations of content, phrases, quotes, summaries, etc.

By understanding embeddings, you can venture into the realm of content comparison, offering exciting opportunities for matchmaking applications. Utilizing OpenAI’s open API to create these embeddings empowers your application to perform captivating matchmaking tasks, especially for two-sided marketplaces seeking to connect buyers and sellers. It presents a powerful opportunity to harness the full potential of AI’s capabilities.

Embrace the Diverse Opportunities

OpenAI is undoubtedly the prominent language model, widely known for its convenience and ubiquity, making it highly accessible. However, it’s essential to recognize that other platforms have also made significant strides in the field of language models. If you are looking to browse over language models, check out Tensor Hub. It serves as an open-source AI model repository, offering a plethora of language models for anyone to access and utilize.

OpenAI’s achievements have sparked curiosity among many about these large language models. The best part? You don’t need to feel overwhelmed to collect vast amounts of data to train your custom models. With these pre-trained models readily available, your journey becomes smoother and more efficient.

Tensor Hub houses a rich collection of models, just waiting for you to experiment and delve into their capabilities. So, consider venturing beyond OpenAI and embrace the diverse opportunities awaiting you in the realm of accessible language models.

Leveraging AI Completions to Simplify Cumbersome Forms

One valuable aspect of our approach involves helping your users within the app through completions. Integrating completions is easy and can significantly enhance your application’s functionality. By leveraging pre-existing context data, we assist users in generating descriptions and swiftly navigating through complex forms. Imagine effortlessly inputting your company’s name, industry, and years in business, and watch as a description for your business is automatically generated, simplifying the process for filling out cumbersome forms.

With AI, we can reduce the friction associated with numerous long-form entries. By analyzing previous answers, the AI predicts and pre-fills subsequent form fields, creating a seamless flow for users to complete the required information. This innovative approach has proven to be incredibly beneficial for our clients, especially those with substantial projects or business descriptions to detail.

Navigating surveys can often lead to survey fatigue. However, with the help of completions powered by OpenAI, using their OpenAI SDK, JavaScript SDK, or any of their APIs, users go through the completion process so easily. This implementation has been remarkably successful, enhancing overall user experience. We’ve witnessed firsthand how this simple integration of AI can make a world of difference in creating a better user experience for everyone involved.

Utilizing a Variety of Code Completion Tools

Back when we were all budding programmers, Stack Overflow was our daily go-to. Learning alongside fellow boot campers, we often resorted to copy-pasting code snippets from Stack Overflow during our early learning days.

As a developer, it’s easy to spot when someone has taken that approach because suddenly their coding style and variable naming conventions differ from their usual practices – a clear sign of copy-pasting.

Even now, as we utilize OpenAI or any other powerful tools, we must retain the same level of awareness we had while learning on Stack Overflow. It’s essential to verify the code we receive and not blindly accept it. We can’t just rely on AI to produce flawless code; understanding what we’re doing is still essential.

However, these AI tools do offer significant shortcuts. Take, for instance, the task of writing an algorithm to calculate compound interest. You could try to recall the formula from a finance class or search for it on Google and attempt to implement it yourself. Or you can leverage OpenAI to efficiently generate a compound interest calculator in JavaScript, saving you valuable time and effort.

The biggest advantage is that AI tools minimize the time spent on menial tasks in a quickly implemented simple algorithm. It proves a highly effective solution that shortens the overall working time on a product. However, it won’t revolutionize your architecture or offer business solutions. Understanding the problem at hand remains our task.

We’ve been benefiting from various productivity tools, such as code auto-completion and TypeScript’s ability to look up types, for quite some time. These advancements continue to make us more efficient and productive.

Over-reliance on AI can lead to errors since it’s not flawless. Human error is always a factor. There’s a risk of developing an overconfidence in the tool’s capabilities and blindly trusting it without truly comprehending what’s happening. This fear of AI centers around the concern that we might become overly dependent on its power without fully understanding its limits.

Some developers used Stack Overflow to copy-paste solutions, thinking they were proficient engineers. They ended up creating unmaintainable and unsustainable projects, which is a parallel risk with AI. If not used wisely, it can lead us to venture beyond our expertise, potentially leading to broken or malfunctioning outcomes. When employing AI to read code, caution is essential.

In the grand tapestry of business evolution, AI emerges as a dynamic thread, weaving innovation, efficiency, and growth. As you navigate this transformative landscape, embracing AI’s potential while staying grounded in your understanding will undoubtedly shape a successful path forward.

Meet FYC Labs Founder and CEO/CTO – Justin Fortier

Justin Fortier, the Founder and CEO/CTO of FYC Labs, is a visionary leader who has been at the forefront of web and product development for years. He is also currently serving as a CTO, VP of engineering, and Advisor for several companies. With his strong background in these fields and his passion for innovation and growth, Justin has created a company where people truly are the best product to offer.

As the CEO and CTO of FYC Labs, Justin is responsible for guiding the company’s overall strategy and direction. He is dedicated to ensuring that the company continues to grow and evolve, and is always on the lookout for new opportunities to innovate and make a positive impact in the world of web development and graphic design.

With a mission to create high-level products and web platforms that take businesses to a whole new level, FYC Labs has grown internationally over the last few years, working with a wide range of clients, from small start-ups to large corporations.

Tell us a little bit about the beginning of FYC.

The company was founded in 2012 when I was working at a cocktail lounge in San Diego called El Dorado. I saw how successful the owners were and wanted to start my own business. Pablo, who was doing comics and memes at a company in San Francisco, came back and asked for a job as a busboy. But I couldn’t give him that role as he was the most talented designer I knew. So I asked him to join me in starting a business, and he agreed.

We had a third partner, Athena, who joined us later. With just $1500, we rented a tiny office in East Village, San Diego, and started doing flyers and menus for El Dorado. We gradually built our network in the restaurant industry and hosted small music or art events. The turning point was when Paola joined us and introduced us to a new network of people. She replaced Athena as the third owner and brought in an investor from Mexico City. This led to us working with American companies pivoting into Mexico, including Remax, which catapulted us into becoming a software development company. The first year was tough as some clients didn’t pay, leaving us broke. But we survived and had a lot of fun.

How would you define the leadership style of FYC?

We leverage a “systems approach”, meaning we use as much automation and technology as we can for traceability and accountability. Rather than us having to constantly monitor our employees with conversations and check-ins or micromanaging, we just use our project management tools- our time tracking, some custom build software to send reminders to our team, to hold people accountable for missed or overdue tasks.

Running FYC is like conducting an orchestra- you don’t need to sit there and play the individual parts, you just need to make sure everything’s in concert. All the different pieces, all kinds of work, just like in a concert. And that’s because we have written a lot of automation and it feels like there are many people doing things, but there really aren’t. Our leadership and management team is pretty small- it’s about one manager to every 10 people.

What makes a company successful and what are the signs in FYC that you see of being successful?

Success comes from the people that you surround yourself with, whether it’s the clients that you have, the employees that you hire, the contractors and vendors you use, or the network you create. I’m lucky that I’ve been surrounded by a lot of great people who have been really supportive and you know really carried the company over the years. Once you’ve found your tribe and the people who will help you through and support you, then you start working on systems. Systems are more important than your product, ideas, or creativity. The ultimate foundation lies within well-structured systems.

What we really strive for it’s for our systems to be on point. If I was in a manufacturing environment, I could try to control everything and set up process, run by machines. But in a services business trying to keep people on systems is a full-time gig. Businesses are successful when systems are on point. You can survive whatever market elements are out there as long as you have a solid system. It’s not always about having the best product, or the best marketing. The best systems attract the best people. If you come to a place where the systems are chaos and you don’t feel like you’re respected by the team enough to build an infrastructure and a system for you to work in, you’re going to want to quit.

When you talk about attracting and retaining talent, having good systems is probably more important than perks and pay. Our systems will never be perfect, but we strive for incremental improvement every day so we can deliver the best possible results for our clients.

What is your favorite thing about working at FYC?

One of the things I really love about working at FYC is seeing the transformation of people from the moment they join us. They didn’t know they could have a life in technology, engineering or design, or marketing. They didn’t even know this was something for them, because they didn’t go to school for that or they didn’t know enough people. It’s incredibly fulfilling to watch them grow in their careers, develop their competencies, build their confidence, and improve their overall quality of life. It’s kind of like a parent feeling when your kids are successful, I get a lot of pride in seeing that. And I know that we’ve facilitated those life-changing events for many of those people, so that to me is the best part.

What motivates you?

Our employees are also our customers- we provide them with opportunities. That’s what motivates me- giving them more opportunities. I look at where many of them came from and that they didn’t know they would have an opportunity to work at a place like this, or on the technology side.

It’s important to remember that employees are looking for more than just a salary and benefits. They want to be a part of a company that aligns with their values and allows them to grow and make a meaningful contribution. Throwing money at the problem will only retain employees for a short time. It’s important to have integrity and create a work environment that provides a sense of purpose.

Another thing that motivates me is seeing how my work in creating technical architecture or rewriting reusable code can benefit others, as well as contribute to sales. When I think about a sale, I’m not thinking about “Oh, this is great for the bottom line and the money”. It’s like “Oh cool, this gives person X a job now”. Or this gives someone else a really cool project to work on.

What is your biggest achievement during your journey with FYC?

A career milestone for me is to see the lives we’ve touched, and the opportunities we’ve given. I am proud to say that we’ve provided opportunities for many individuals who were previously overlooked. Our 10-year anniversary was a culmination of the immense impact we’ve had on so many people’s lives over the years. It was amazing to have everybody in San Diego together and make it to that milestone, to see the lives we’ve touched, and the opportunities we’ve given.

What is the most challenging project you’ve worked on?

One of our most difficult projects was with Remax Mexico, our first major client. It was a challenge because we were a small team at the time and we didn’t have much support. Additionally, the project was in Spanish, which was not our native language. We had to build and integrate everything under high pressure, as we wanted to exceed the client’s expectations. Meeting the client’s urgent timeline and user expectations proved to be difficult. We also faced limitations as many of the current frameworks weren’t as developed at that time.

That was probably the most challenging time of my life, but it was well worth it. Even today, when we discuss our achievements, the first thing we mention is the successful creation of the Remax site.

If you could describe your professional journey in three words, what would they be?

Courage. That has always been a big one for me. Courage is something that I’ve always had- the courage to start a new business, the courage to take on a new project, the courage to work until 4 in the morning, and to get something done.

Perseverance. I learned that I can endure and persevere through really tough times. I put every penny I had in my name into a festival and I lost it all. But it was a great party, everybody loved me and they thought “Oh, this is amazing, you must have made so much money”. No, I lost everything. But I got up the next day and I started working again and persevered. People think that hard work means that someone just likes to work a lot, but it’s actually someone who perseveres through really hard times and keeps going.

Courage, perseverance, and fun. I think we’ve had fun doing a lot of the stuff we do, we make things a lot of fun. Funky!

Connect with Justin on LinkedIn.

Meet FYC Labs COO – Phillip Lorenzo

Tag: cto