How to Perform a $60,000 AI Audit (Beginner’s Guide)

About this Video

• Video Title: How to Perform a $60,000 AI Audit (Beginner’s Guide)
• Channel: Liam Ottley
• Speakers: Liam Ottley (and mentions Nick, head of consulting at Morningside AI)
• Duration: 00:25:17

Introduction

This video provides a beginner's guide to performing a $60,000 AI audit for small to medium-sized businesses (SMBs). The speaker, Liam Ottley, details his agency's pivot from AI development to AI consulting, highlighting a significant market gap and the profitability of this service. The video outlines a process developed over 6-8 months, including a four-week framework and a simplified two-week assessment.

Key Takeaways

1. Shifting from AI Development to Consulting: The speaker's agency, Morningside AI, successfully transitioned from solely providing AI development services to offering high-value AI consulting, addressing a growing market need.
2. Significant Market Opportunity: There's a large, underserved market for AI consulting services, particularly for SMBs, representing a $50 billion gap. The market is projected to reach $73 billion by 2033.
3. High AI Project Failure Rates: AI projects have significantly higher failure rates (80-85%) than other IT projects, creating demand for expert consultation.
4. The AI Transformation Partner Model: Morningside AI's approach involves a three-phase journey (discovery, implementation, partnership) providing clients with clarity and peace of mind during the AI transformation process.
5. Two-Week AI Audit Strategy: A streamlined two-week AI opportunity assessment is presented as an entry point for agencies to break into the consulting market. This involves stakeholder interviews, process mapping, opportunity identification, and client validation, culminating in a presentation with a 90-day implementation roadmap and quick wins.