Mayur Kathe, Author at The Business Tycoon Magazine

Before You Launch an AI Startup, Read This: 7 Deadly Mistakes Founders Regret

Starting an AI-based company sounds exciting. Artificial intelligence is transforming industries like healthcare, finance, marketing, and e-commerce. Many founders jump into AI startups thinking technology alone will guarantee success. But reality is different. Building an AI company needs the right mix of business thinking, data strategy, ethics, and customer focus. Many promising AI startups fail not because the idea is bad, but because of avoidable mistakes made early on. If you are planning to build an AI-driven company, avoiding these common mistakes can save you time, money, and frustration. Mistake 1: Building Technology Without a Real Problem One of the biggest mistakes founders make is starting with technology instead of a real problem. Many AI startups focus on what their model can do rather than what customers actually need. AI should solve a clear pain point, not exist just because it sounds impressive. Before writing a single line of code, talk to potential users, understand their challenges, and confirm they are willing to pay for a solution. A problem-first approach gives your AI product real value and market demand. Mistake 2: Ignoring Data Quality and Availability AI systems are only as good as the data they learn from. Many startups assume data will be easy to collect or clean later. This is a costly assumption. Poor quality, biased, or incomplete data leads to inaccurate results and unreliable AI models. Before launching, founders must ensure they have access to sufficient, relevant, and legally usable data. Investing early in data collection, cleaning, and governance builds a strong foundation for long-term success. Mistake 3: Overestimating AI Capabilities Another common mistake is overpromising what AI can deliver. Some founders believe AI can replace human intelligence completely or work perfectly from day one. In reality, AI systems need training, testing, and continuous improvement. Unrealistic promises can damage trust with customers and investors. It is better to be transparent about limitations and show steady improvement over time. A realistic roadmap builds credibility and long-term relationships. Mistake 4: Not Having the Right Team An AI company needs more than just developers. Many startups fail because they hire only technical talent and ignore business, legal, and domain experts. A strong AI team includes data scientists, engineers, product managers, industry specialists, and ethical advisors. Business strategy, user experience, and compliance are just as important as algorithms. A balanced team ensures your AI solution is usable, scalable, and market-ready. Mistake 5: Ignoring Ethics, Privacy, and Compliance AI companies handle sensitive data, which makes ethics and compliance critical. Many startups delay thinking about data privacy, bias, and regulations until problems arise. This can lead to legal trouble, customer backlash, and reputational damage. Regulations like GDPR and data protection laws must be considered from the start. Building ethical AI practices early creates trust and protects your company as it grows. Mistake 6: Focusing Only on the Product, Not the Customer Some AI founders become so focused on improving models and accuracy that they forget about the user experience. Customers care about outcomes, not algorithms. If your AI tool is difficult to use or does not integrate with existing systems, adoption will suffer. Regular feedback, user testing, and simple design help ensure your AI product fits smoothly into real-world workflows. Mistake 7: Scaling Too Fast Without Validation Rapid scaling is tempting, especially when investors show interest. However, scaling an AI company without validating product-market fit is risky. Expanding too early can drain resources and amplify unresolved issues. Start small, test your solution in controlled environments, learn from feedback, and refine your model. Sustainable growth comes from proven value, not rushed expansion. Conclusion Setting up an AI-based company is both challenging and rewarding. Success depends not only on advanced technology but also on smart decisions made early in the journey. By avoiding these seven common mistakes, founders can build AI companies that are ethical, customer-focused, and scalable. A thoughtful approach helps turn AI innovation into real business impact.

Did Trump Confuse Greenland With Iceland During His Davos Speech?

President Donald Trump has again ignited a controversy after appearing, during his speech at the World Economic Forum in Davos, Switzerland, to confuse Greenland and Iceland for one another. His remarks followed several days of bold declarations where President Trump repeatedly stated that he wanted the United States to “own” Greenland, which is part of Denmark’s autonomous territories and member of NATO. Repeated Mentions of “Iceland” During Trump‘s speech in Davos, he made several references to Greenland as “Iceland.” He discussed supporting NATO and mentioned that several allied countries were upset with him when he brought up the topic of “Iceland.” At a different time, he commented that he wanted “a piece of ice” that had “significance for global peace and security.” He stated the word “Iceland” approximately four times throughout his comments while it was clear that he was referring to Greenland. Furthermore, Trump attempted to associate a downward trend on the stock market in America to the “Greenland situation” but continued to call it “Iceland.” He also stated that this situation already cost the United States money and added confusion to the situation. While both Iceland and Greenland are NATO members and adjacent to each other, they could not be more different. For example, Greenland is approximately 20 times larger than Iceland, and Greenland has its own distinct political relationship with Denmark. White House Steps In The mix-up was quickly pointed to by journalists and social media users. A post made by NewsNation reporter Libbey Dean led to an immediate and strong response from White House Press Secretary Karoline Leavitt, who claimed that Trump did not get anything mixed up, and that Trumps reference to “a piece of ice” was actually intentional. However, the post was subsequently community noted on X with a note explaining how Trump very clearly said “Iceland” several times while referring to Greenland, along with a link to the video of his speech. Administration Pushes Back The White House remains firm in support of President Trump despite the empanopolytic criticism directed at the administration’s response to the controversy regarding the president’s comments about wanting to buy Greenland for the United States. White House communications director Roger Taylor described Trump’s “important” address about national security interests in Greenland, stating the announcement made was part of a “framework” for a future U.S-Greenland agreement. Taylor suggested that, while the President was achieving results, the media and certain political commentators were concentrating on the “wrong” part of the address regarding the United States’ purchase of Greenland. The discussion over this event and other presidents’ comments about Greenland continues the current public discussion surrounding President Trump’s commitment to NATO and its alliances with the U.S.

How AI Is Changing Sales Strategies and Performance

The use of artificial intelligence by sales teams is growing rapidly. This is because AI provides sales professionals with a greater ability to understand customer needs and predict future purchase behaviour, allowing them to target and focus their efforts on the most profitable customers. Artificial intelligence can improve sales performance, create more effective sales strategies and, ultimately, improve a salesperson’s ability to perform successfully. What Is Artificial Intelligence in Sales? Artificial intelligence employs methods that enable machines to learn autonomously from experience. This use of AI as an intelligent assistant provides sales organisations with the ability to interact with potential customers more efficiently by keeping track of all previous communications and purchases made by those prospects. AI capabilities include predictive analytics, conversational interfaces, and content generation, all of which enable organisations to streamline daily sales activities. Why Sales Teams Need AI Today The competitive nature of sales has increased, and consumers are now very knowledgeable. Today, the majority of consumers utilise online/Internet resources to learn about products prior to speaking with a salesperson. Thanks to AI, teams of sales representatives can leverage technology to perform their jobs efficiently; this includes faster access to information, the ability to automate routine activities, and equipment for focusing on selling (closing) deals. By providing sales teams with up-to-date data, AI is reducing the time it takes to do an excellent job while also increasing their accuracy when it comes to forecasting, planning, etc. Improving Productivity and Forecasting AI eliminates many repetitive tasks, such as generating reports and data entry. By freeing up time for salespeople to concentrate on building strong customer relationships and converting leads into customers, AI enables sales teams to be more productive than ever before. The use of AI to analyse large amounts of data helps to generate superior sales predictions, enabling businesses to prepare for inevitable changes, such as market fluctuations, changes in consumer behaviour, or seasonal variations, thereby avoiding unpleasant surprises. Personalising Customer Experiences With AI, sales teams can analyse past customer interaction history to determine what their customers want. This enables salespeople to provide tailored communications with suggested products and contact customers at optimal times for each individual. Understanding customers generates positive feelings, builds trust and usually leads to increased sales. Smarter Sales Actions and Coaching AI is capable of evaluating sales calls and emails to determine effective and ineffective practices and provide data for managers to use for coaching and enhancing team productivity. Based on information obtained through the AI tool, the suggestions made by the AI will dictate the next best course of action that should occur to close a deal, such as when to contact a lead next, the information to send, etc. Challenges of Using AI in Sales Companies face many potential challenges when applying artificial intelligence in their business models. Some organisations have difficulty integrating artificial intelligence tools into their current operating environment. If data used for training purposes does not meet an acceptable level of quality, the level of effectiveness achieved by artificial intelligence will be impaired. There may also be privacy-based concerns with the artificial intelligence application, as well as employee reluctance due to uncertainty regarding the use of new technology. Appropriate employee training and effective communication regarding potential uses of artificial intelligence will alleviate these concerns. The Future of AI in Sales As we move towards 2026, Artificial Intelligence (AI) will become increasingly important for sales professionals. AI will not replace sales representatives but rather aid them within their existing roles. When used properly, AI provides sales teams with better tools for improving their customer relationships, providing a higher level of service, and producing improved sales results.

When a Credit Report Can Hurt Your Chances of Being Hired

A background check can be the deciding factor in whether someone gets hired or not, and many people looking for jobs don’t realise this. Employers can use different areas of a person’s background when looking at applicants’ backgrounds, but today less than half of all employers are allowed to check a candidate’s credit report as part of a background check. Employers are no longer permitted to view an applicant’s credit report because it can lead to unfair judgements based on financial problems. New Laws Limiting Credit Checks Recently, New York has become the 11th state to pass a law that prohibits most employers from using credit reports when they make hiring or promotion decisions. The effective date of this new law is April 18, 2023. In addition to New York, other states that have laws prohibiting this practice include California, Colorado, Connecticut, Hawaii, Illinois, Maryland, Nevada, Oregon, Vermont and Washington. Additionally, many cities and counties have passed local laws that restrict this practice. What makes New York’s law unique is that it has a much broader application. Individuals that reside in New York but apply for jobs in other states will continue to be protected under this new law. Because of the increasing number of restrictions against using credit reports, many national employers are choosing to stop using them altogether, even in states that still allow this practice. When Credit Reports Are Still Used Except for the above, employers may be prohibited from using a person’s credit report in an employment decision when the person is applying for a job or if the applicant already has a job. However, employers can still review credit reports of those applying for specific jobs. These job categories generally consist of government, law enforcement, national security, and any position requiring the handling of a company’s money or any other sensitive information. In banks and financial institutions, credit reports can only be used when applying for certain regulated positions. The premise for the risk associated with individuals under financial duress is that they may be at a higher risk for committing fraud or theft against the company. Although this is not true in every instance, it continues to be the basis for employers allowing background checks, including credit reports, for specific positions. What Employers Look For Credit issues alone aren’t typically a dealbreaker for employers. Rather, the employer will assess how serious or recent the credit issue is to determine whether to proceed with the applicant. Examples of serious credit issues include long-term overdue bills, being in collection accounts, and debts written off as bad debt, especially for positions involving financial accountability. On the contrary, an employer should typically disregard both medical debt and student loans as reasons for not hiring an applicant, unless the debts or loans would affect the applicant’s ability to perform the job functions related to those debts or loans. Furthermore, employers have a responsibility to explain to applicants the reasons why credit history is an important consideration in relation to the position they are applying for and not to make unfair or discriminatory employment decisions based upon an applicant’s credit history. How Job Seekers Can Protect Themselves If an employer is going to run a background check or pull a credit report, they must ask you for written consent, which is generally when you have received a job offer. It’s wise to review your credit reports regularly on your own so that you can identify any errors. An honest explanation of your situation is usually the most helpful if there are legitimate issues on your report. The more clearly you describe the circumstances, the less likely it is that there will be a misunderstanding about your situation. You have the right, under the law, to obtain a copy of your report and dispute any errors prior to the final hiring decision being completed.

When a credit report can hurt your chances of being hired

Starmer Tells Trump Tariffs Over Greenland Are Wrong as Tensions Rise With US Allies

According to a report from Britain’s Prime Minister Sir Keir Starmer’s office, he delivered a message to US President Donald Trump telling him that imposing tariffs on countries friendly to the US because of the situation in Greenland “would be wrong”. The phone conversation occurred Sunday, making it the first time the two presidents had spoken since Trump announced he may pursue new trade penalties related to Greenland. Tariff Plan Raises Tensions President Trump recently announced that tariffs could be imposed by the United States on products produced in eight European countries (e.g., the United Kingdom) beginning February 1, 2020, potentially increasing to 25% by June 30, 2020, unless an arrangement can be made to facilitate the acquisition of Greenland by the United States. This proposal has unsettled Europe and residents of Greenland, which is an independent region belonging to Denmark. Sir Keir has continuously stated that the fate of Greenland should be determined by the people of Greenland, in conjunction with Denmark, rather than by foreign governments. NATO and Security Concerns According to a spokesperson for the UK Prime Minister’s office following their telephone conversation, Sir Keir Starmer expressed to Mr Trump on behalf of the NATO Friends and Allies Group that security in the Arctic Region is vital for all NATO Member Nations and that penalising NATO Allies through tariffs for cooperating in securing our common security is unacceptable. Before having his discussion with Mr Trump, Sir Keir had discussed the topic with other European leaders such as Danish Prime Minister Mette Frederiksen, European Commission President Ursula von der Leyen, and NATO Secretary-General Mark Rutte. It should be noted that Denmark has categorically stated that Greenland cannot be sold and that any form of military action against Greenland would jeopardise the security of the entire NATO alliance. Furthermore, Greenland’s leaders have made it abundantly clear that they wish to remain part of Denmark as opposed to being annexed by the United States. Europe Stands United The eight nations that have been threatened with tariffs issued a joint statement indicating that this action will hurt the relationship of the United States with Europe. These nations include Denmark, Finland, France, Germany, the Netherlands, Norway, Sweden and the United Kingdom. While all stated their strong support for Denmark and Greenland, they also expressed their continuing commitment to Arctic security. President Trump claimed that Denmark does not have the ability to protect Greenland from threats created by both Russia and China. Although there has been no decision against using military action to obtain Greenland, the Trump administration indicated that purchasing it is the preferred way of acquiring it. UK Political Reaction Sir Keir’s remarks constitute an exception, in terms of a public disagreement with a US president who has been a close partner of his in the past, and demonstrate his unease with the direction of American trade policy. All UK politicians, regardless of party affiliation, condemned the threat of tariffs as counterproductive, and a number warned that taking action against a NATO ally would be detrimental to the long-term strength of the alliance. Why Greenland Matters Greenland’s geographical location provides an opportunity for the United States to strategically observe activity in the Arctic. The U.S. also has established a military presence in Greenland and also has shown great interest in harvesting the natural resources of Greenland, which will be more readily accessible with the rapid climate change occurring throughout the world.

How to Start an Ecommerce Business in 2026: A Practical Blueprint for New Entrepreneurs

E-commerce remains one of the best opportunities for aspiring entrepreneurs looking to create brands. In 2026, thanks to advancements in the areas of digital payment solutions, supply chain logistics, artificial intelligence-based marketing, and no-code platforms, barriers to entering the e-commerce market are very low and allow for entrepreneurs to gain access to a global customer base with little investment up front. As e-commerce continues to be a flexible, data-driven operation that doesn’t require brick-and-mortar locations to function, it will also be a desirable option in light of growing competition. In 2025 e-commerce sales worldwide totalled more than $6.7 trillion, with projections suggesting that sales may reach nearly $8 trillion in 2027 as a result of growing sectors like mobile commerce, cross-border trade, and social commerce. With growth opportunities so clearly identified, this could be a time of real opportunity for entrepreneurs ready to approach e-commerce in a strategic manner as opposed to an impulsive one. Understanding What an Ecommerce Business Really Is E-commerce is an online business model where products/services are sold through a digital shopfront. Customers can browse through many different types of products, shop, add items to their virtual shopping cart, and pay securely using payment gateways. E-commerce businesses can be as diverse as one-person/one-type-of-product (niche) all the way to large multi-category brands and online marketplaces. Ecommerce business types include the dropshipping model, the print-on-demand model, private label and direct-to-consumer manufacturing. All models of eCommerce provide various degrees of control, margins and operational complexities for business owners. Choosing the Right Product and Business Model The most important step in starting and running an online commerce business is selecting the right products to sell. The type of product you select will have an impact on pricing, marketing expenses, and potential growth for your business. Successful business founders focus on developing products that have an identified need, an available customer base or target market, as well as a distinct value proposition for potential customers. Before making any significant investment, it is essential to validate demand for the product. Conducting research on the target market, analysing competitor products and prices, tracking customer feedback, and identifying trending areas within the market will help you determine if there is indeed a need for your product. Once you have validated the demand for your product, you will then need to decide how you are going to source your product. You may choose to work directly with the manufacturer, through a wholesaler, or use the services of a drop shipper who will ship directly to customers from their warehouse. Researching Competition and Building a Clear Business Plan Before launching, understanding the competitive landscape is essential. Studying competitor pricing, positioning, messaging, and customer experience reveals gaps and opportunities. This research feeds directly into a business plan that outlines brand vision, target audience, revenue model, and growth strategy. A business plan is not just for investors. It acts as a roadmap that helps founders prioritise tasks, allocate budgets, and measure progress. Even lean e-commerce startups benefit from clearly defining their value proposition and long-term goals. Branding, Store Setup, and SEO Fundamentals Branding transforms a store into a business customers remember. Choosing a strong business name, securing a domain, and designing a simple yet distinctive logo establishes credibility from day one. These brand assets should align with the target audience and product positioning. Building the online store is no longer a technical hurdle thanks to platforms like Shopify. However, design alone is not enough. Understanding search engine optimisation is critical to driving organic traffic. Optimised product pages, clear site structure, fast load times, and high-quality visuals all contribute to better search visibility and higher conversions. Shipping, Operations, and Marketing Strategy As launch approaches, logistics planning becomes a priority. Shipping strategy impacts customer satisfaction, costs, and scalability. Domestic and international shipping options, packaging, and delivery timelines must be aligned with customer expectations. Marketing goals should be defined early using measurable performance indicators. Traffic, conversion rates, customer acquisition costs, and repeat purchases provide insights into what is working and what needs optimisation. Viral growth stories often start with a clear understanding of these fundamentals rather than luck. Launching and Scaling with Data-Driven Marketing Launching an ecommerce business does not end at publishing the website. Marketing is the engine that drives growth. Successful stores focus on driving targeted traffic through a mix of content marketing, email campaigns, social media, paid advertising, and influencer partnerships. As sales data accumulates, analytics become a competitive advantage. Understanding customer behaviour enables better product decisions, improved conversion rates, and stronger customer retention. Brands that scale successfully use data not just to sell more but to build trust and long-term loyalty. Realistic Expectations and Long-Term Growth Ecommerce editions foresee success over a longer time frame, as you’ll become more familiar with your audience, experiment with new marketing strategies and gain market validation. The mistake many new ecommerce founders make is to try and achieve profit within the first year of operation, but this is usually unrealistic; it can take from 18 to 24 months of trial and error, reinvestment and refinement of your business model before a store becomes sustainable. When starting your ecommerce store, it’s important to note that the cost to launch will vary greatly depending on the structure of your store and the resources you need to invest in your new venture. Many new e-commerce stores will start with a very small initial investment, often under $100; however, many first-year expenses will also add up to thousands of dollars (products, advertising, software, operations), and most e-commerce entrepreneurs start with their own personal savings, family assistance or small loans to finance their ventures. Thus, there is no requirement to have significantly large amounts of capital to succeed in this business. Building a Business That Lasts Launching an e-commerce business in 2026 is both challenging and rewarding. It requires patience, experimentation, and a willingness to learn from data and customer feedback. Those who focus on fundamentals, adaptability, and long-term value creation are best positioned to

India and the European Union Near Landmark Trade Deal as US Talks Stall

India and the European Union are in the final stages of talks aimed at achieving an agreement to create a Free Trade Deal Agreement, which has been pending since before India gained independence. The conclusion of this Free Trade Agreement will be an important addition to the array of Free Trade Agreements that presently exist between various countries and regions of the world, including the Asia-Pacific region and North America. Trade Secretary Rajesh Agrawal confirmed that negotiation between India and the EU is nearing completion and should be completed as soon as possible. The Free Trade Agreement to be finalised will have the most significant impact upon India’s global position in terms of trade. In addition to indicating that the EU will become an even greater trading partner for India than it already is, Agrawal also indicated that this Free Trade Agreement will enhance India’s potential to diversify its export markets by providing additional opportunities to do so. Since its inception in 2004, bilateral trade between the EU and India has been estimated at €120 billion in 2023, which makes the EU India’s largest trading partner and represents the longest continued growth of bilateral trade between any two trading borders in Europe. High-Level Diplomacy Accelerates Negotiations There has been significant political activity occurring at senior levels within the European Union and India that has contributed to the momentum that is building regarding a trade agreement between the two regions. The President of the European Council (EC), Antonio Costa, along with the President of the European Commission (EC), Ursula von der Leyen, will be travelling to India from January 25th to January 27th, 2023, during which time they will be co-chairs for an India-EU Summit with India’s Prime Minister (PM), Narendra Modi. There are ongoing discussions among government officials working for the European Commission regarding the possibility of announcing a successful conclusion to the trade agreement at this international event. According to sources involved in the ongoing negotiations, the European Commission has also expressed cautious optimism for internal negotiations among the member states and anticipates a successful conclusion to the trade agreement. To expedite the negotiations between Europe and India, Prime Minister Modi and President von der Leyen agreed to accelerate the time frames for completion of the negotiations, with a target conclusion date of 2025. The urgency of reaching a successful trade agreement has further increased because of the imposition of tariff increases by U.S. President Donald Trump on a variety of products imported from several countries, including India. Cars, Steel, and Carbon Levies Remain Key Obstacles While strong steps have been made towards improving the relationship between the EU and India, several areas of concern remain unresolved. The automobile and steel industries are the two biggest areas that are causing negotiation problems between the parties involved. The European Union is urging India to significantly decrease the amount of tax needed to import European vehicles, as the tax for all forms of vehicles from Europe to India, in some cases, has exceeded 100%. However, India is adamant that it is hesitant to lower the import vehicle tax in lieu of the domestic manufacturing and job sector. Conversely, India is also expressing concern about the EU’s carbon emissions border adjustment mechanism and how this initiative may affect the export of Indian steel to Europe through the imposition of additional costs based on carbon emissions. Indian negotiators also emphasise that the above-mentioned proposal would limit the amount of steel imported into the EU due to the combination of tariff rates and the aforementioned safeguard measures. Agriculture Kept Out to Protect Farmers For the country of India, agriculture has been established as a definite, unmovable boundary. Agriculture officials confirmed that sensitive agricultural and dairy products have been excluded from any future negotiations. The Indian Government has continually stated that agriculture and dairy are two sectors that remain completely protected and will not be opened for trade agreements. The Indian Government will protect the lives of millions of poor subsistence farmers who rely on traditional farming for their survival. In contrast to the EU’s interest in tariff reductions for goods such as wine, spirits, and meats, as well as medical devices, India has targeted its negotiation objectives mainly on obtaining duty-free access for labour-intensive products, as well as expedited acceptance of regulatory approvals for India’s automotive and electronics sectors. Beyond Goods: Services, Investment, and Green Growth This proposed agreement builds upon merely trading goods; instead, both parties hope it creates opportunities for greater collaboration in a wide variety of service sectors (e.g., digital trade), investment, IP, and green technologies. Investing in Indian manufacturing, renewable energy, and infrastructure should provide a boost for European companies and help them to align with India’s future growth and sustainability objectives. The challenges remain regarding creating and enforcing similar regulatory structures and ensuring protections in sensitive sectors, such as labour, health, and the environment, in compliance with the Paris Climate Agreement. The EU has also continued to insist upon formalised commitments pertaining to labour standards, environmental protections, Paris Climate Agreement compliance, etc.; therefore, negotiations on these topics remain ongoing and continuing. A Strategic Signal Amid Global Trade Uncertainty The India–EU trade agreement would indicate that the global economy is moving further towards fragmentation, and this will provide a message about how important this agreement between India and the European Union (EU) is for Europe and how European nations will benefit from access to the vast Indian consumer marketplace of more than 1.4 billion people. The Agreement will also provide India access to the wealthiest economic bloc through enhanced opportunities for the importation of Indian goods and services. In the meantime, the failure of the U.S.-India trade talks to progress since last year’s breakdown should, at least partially, be compensated for by providing India with a stronger trade priority than what was previously established. The EU’s formalisation of this agreement between India and the EU also strengthens India’s capacity to become a more prominent actor in terms of integrating

How Managers Are Using AI to Make Smarter Decisions

In light of the recent developments concerning artificial intelligence, leaders must rely less on intuition or past experience than ever before. AI has fundamentally changed how organisations approach planning, thinking & executing their strategies as well as how leaders interact with their staff. Using real-time information, AI enables organisations to identify potential risks sooner, allowing organisations to make better-informed decisions about how to prevent future problems from occurring. As a result, rather than having to wait until an issue arises before addressing it, leaders and organisations can prepare in advance with greater certainty. AI provides leaders and organisations with a comprehensive overview of everything going on both within and outside of the organisation. In addition, AI assists in identifying patterns of customer behaviour, allowing the organisation to identify areas where there is room for improvement. AI allows leaders to dedicate their time & energy toward more value-added activities such as developing strategies and utilising creative talent. Building AI Understanding in Teams AI needs to be understood by many people in the organisation before AI will perform at its best. Leaders only need to ensure employees possess a basic awareness of AI, not a technical understanding. Employees will be much more comfortable using AI for their daily work if they know the types of things AI can do and cannot do. The combination of training sessions, hands-on experience with using AI tools, and having open conversations regarding AI will help diminish employees’ anxiety and uncertainty regarding using AI. In addition to increasing the number of teams using AI, there will also be an increase in the quality of AI used by teams. As teams utilise AI, they will also enhance AI through continued use. Data used to train AI will improve, AI’s results will become more accurate, and the insights gained through AI will become stronger over time. This creates continually learning systems that will help organisations to make better decisions. Knowing When to Use AI and When Not To AI has tremendous capabilities; it will not, however, be able to solve all leadership problems. Certain decisions require human judgement that cannot be replaced by artificial intelligence (AI); however, in addition to this, there will also likely be instances when an AI system can provide an advantage for decision-making. Leaders need to articulate what types of situations can be appropriately managed by using AI. For example, conducting repetitive, simple tasks frequently means that using an AI system can increase efficiency through time savings and reduction of human error rates. However, when making complex/high-risk/complex decisions, AI will augment rather than replace human reasoning. Ultimately, leaders must establish explicit rules/guidelines that outline the intended purposes of the technology in order to prevent the misuse, abuse, emotional dependence, or blind faith in technology. Encouraging Questions and Critical Thinking Curiosity is the foundation for good AI leadership. There should always be a culture where teams can safely ask questions about the outcomes of their AI programmes and challenge underlying assumptions. To blindly accept the outcomes of AI simply because they’re generated by the technology can create severe problems for us. When we allow people to ask questions, we build better, stronger and more balanced decisions. Companies that build an environment based on testing and learning are often more adaptable and able to act quickly and intelligently when faced with difficulties such as rapid shifts in the market. Leading With Openness and Trust Leaders create trust through transparency, and teams must understand how AI uses data and who makes decisions for it. When employees openly communicate about these matters, they will gain confidence about using AI as a tool and will feel empowered to raise questions if they see something that appears problematic. The Future of Leadership While AI is changing the way we lead in the future, there is no substitute for human accountability when leading. Leaders should learn about how to leverage AI and utilise it as effectively as possible, inducing open-mindedness and consulting everyone in the decision-making process with honesty and integrity to achieve real results using this technology. AI is an effective tool but is only as good as those who lead with it.

Trump’s Iran Tariff Warning Sparks Global Trade Fears Amid Growing Unrest in Iran

Donald Trump (former US president) has also warned other nations that if they conduct commerce with Iran, they are at risk for being charged an immediate 25% tariff from the United States. On his account, the former president posted this information on his social media (Truth Social). According to the post, the order will be ‘decisive’. There has been no mention of the timing or manner in which these tariffs will be enacted. White House Gives No Further Details Following President Trump’s comments regarding the renegotiation of international trade agreements, there has been no additional guidance provided by the White House with regard to the potential impact on certain countries or specific goods that may be subject to increased tariffs as a result of elevated trade relations between Iran and the US. This uncertainty creates concern within the business communities of numerous nations trading with Iran as well as the USA due to their respective ties to both economies, especially when discussing matters related to the energy and shipping industries. Iran’s Currency Crisis Deepens At the same time that Iran is experiencing a significant economic crisis due to the value of the national currency (the rial) dropping significantly over the last 12 months and recently reaching an all-time low in value against the US dollar, inflation is currently above 40%, and the cost of essential items is also increasing dramatically. As a result, for many households, the cost of living on a day-to-day basis has become impossible to manage. Protests Spread Across Iran The growing public anger over increased prices and high numbers of job losses caused protests throughout Iran. At the end of December 2022, many local shop owners in Tehran closed their shops and marched in protest because of yet another sharp decline in the value of the Iranian currency, the rial. Originally protests focused solely on economic issues, but claims of economic injustice and systemic abuse of political power have now evolved into larger demonstrations that challenge Iran’s Supreme Leader Ayatollah Ali Khamenei and his regime. These recent events represent some of the most serious challenges faced by the Iranian government in recent years. Deaths, Arrests, and Information Blackout Human rights organisations state that there has been a significant crackdown on protestors. The US non-profit group Human Rights Activist News Agency indicates that approximately 500 people who were protesting and 48 members of the security forces were killed; however, many other organisations indicate that the actual death count could be much higher. Thousands of individuals have been arrested as well. Since Thursday night, an internet blackout has made it difficult to verify facts. Many countries’ media, including BBC and Reuters, cannot get reliable news from within Iran. Although Donald Trump warned of future sanctions, he also stated that the Iranian government reached out to him about negotiating; however, increased international sanctions and significant corruption continue to have a negative impact on the Iranian economy.