AI: The Future of Business According to Mark Cuban
Billionaire investor Mark Cuban is a renowned champion for artificial intelligence (AI), predicting it will become as essential as email or Excel within five years. Cuban asserts that AI proficiency will be a minimum requirement for entrepreneurs, with its application being a key determinant of future success.
AI As an Aid for Self-Employment
Cuban told Fortune that with AI’s help, more individuals will be able to work for themselves. He envisions AI assistants transforming single founders into full teams. He stated, “If you’re not using [AI] to move faster or make smarter decisions, you’re behind.”
AI: A Must-Have for Entrepreneurs
Mark Cuban views AI not just as a critical skill but also as a virtual team member that entrepreneurs can leverage to shape their futures. He believes the era of AI in business starts now.
ZenBusiness: An AI Platform Supported by Cuban
Mark Cuban, an ex-Shark Tank star, endorses ZenBusiness, an AI platform that has assisted over 850,000 small business owners in launching their enterprises. Cuban considers AI assistants like the one ZenBusiness introduced recently as “the ultimate equalizer.”
ZenBusiness Introduces “Velo”: An AI Assistant for Business Operations
ZenBusiness recently launched “Velo”, a new AI assistant designed to streamline business processes like regulatory filings, research, and website creation. This AI chatbot acts as a round-the-clock advisor, providing personalized advice to business owners at no extra cost.
AI: A Multitasker for Entrepreneurs
Cuban believes that AI assistants like Velo can serve as an entrepreneur’s VP of operations, first sales representative, data analyst, and legal advisor, all without adding to the payroll. However, he cautions entrepreneurs to treat AI akin to an intelligent intern—asking the right questions and verifying the responses.
Decline in New Business Applications
According to U.S. Census Bureau data, there was a 6.9% decrease in new business applications in 2024 compared to a record-breaking 5.5 million applications in 2023. Despite this, interest in starting new businesses remains robust.
Overcoming Entrepreneurial Barriers with AI
Cuban identifies fear and funding as the most common obstacles for today’s entrepreneurs. He suggests that AI agents can help overcome these barriers, especially for those deterred by hiring costs. He urges entrepreneurs to leverage AI for faster decision-making and achieving a competitive edge.
AI: A Tool of Empowerment for Entrepreneurs
Mark Cuban is confident that AI won’t replace entrepreneurs but will empower those who know how to utilize the technology. He concludes, “At the end of the day, AI is a multiplier. Use it, but don’t be used by it.”
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