Competition – love your enemies

Using the data you already have will take you quite far, but there will always be a need to append this data with a feedback loop from the outside world. Understanding your competitors will help you inform your strategy. It will give you examples from your peers that have already made the jump that you’re looking to make. Some of the examples you see from your competitors will be sources of inspiration and some examples will help you avoid certain mistakes. Doing your due diligence when researching your competitors, particularly those that have also embraced AI, will have some influence on what you choose to build and should be one of the factors that influences the lists we established previously.

Some will refute this point and say that you should build a product based on your own understanding of your market and your customers’ problems. The notion that you should focus on the problem you’re looking to solve without...