New Articles

Grow Your Startup: Six Ways To Use Machine Learning To Accomplish Just That

global trade machine

Grow Your Startup: Six Ways To Use Machine Learning To Accomplish Just That

With the rise of artificial intelligence, entrepreneurs have been able to revolutionize how they operate and grow their businesses. One of the most substantial contributions has been various machine learning applications. Implementing machine learning allows entrepreneurs to compete with successful organizations without incurring high costs, make better business decisions, enhance productivity levels, and much more, ultimately leading to higher growth. 

Read also: 5 Remarkable Benefits of Machine Learning in Business

When used right, machine learning algorithms can empower entrepreneurs to achieve a competitive edge over both small businesses and large enterprises. In my experience as the founder of the 88stacks AI image generator (which provides easy-to-use and affordable tools to democratize access to generative modeling and images), I have discovered many ways entrepreneurs can leverage machine learning for business growth. Here are six of them:


Business leaders can utilize machine learning algorithms to instantly analyze customer data and behavior. This is essential for an entrepreneur, because if they better understand their customers’ needs and preferences, they will be able to tailor their experiences accordingly. This ultimately leads to a much more impactful, data-driven approach to personalizing buyer experiences and marketing campaigns that amplify customer satisfaction and brand loyalty.

It is vital to integrate personalization across all customer touch points, including social media advertisements, email blasts, and Google Ads. This will ensure that the customer experience is consistent and tailored specifically to each buyer’s needs across all channels. Customers are more likely to stay loyal to any business that provides a personalized experience and truly understands their preferences—personalization can significantly improve brand engagement. 

Think about it: A stay-at-home mom and the CEO of a major international corporation may both be in the market for the same product. Machine learning can be used to tailor online advertisements about the product so they better resonate with these two individuals. The ad that the mom sees can show a family using the product in the home, and the ad the CEO sees can show the product being used in an office space. 


Predictive analytics uses machine learning algorithms to identify the probability of future outcomes based on historical data. Through analyzing customer behavior data like past purchases, the current state of the market, and potential trends, predictive analytics backed by machine learning helps entrepreneurs understand customers’ preferences and the demands of prospective buyers.

Business leaders can leverage this to forecast new trends, customer demands and potential business opportunities. This leads to more flexible decision-making and strategies and helps to increase overall profits.


Fraud and data breaches can cause a mass of customers to lose their trust in a company and decide to give their future business elsewhere. Thus, when it comes to fraud detection and risk management, business leaders need quick and accurate results. The amount of time spent manually scanning and reviewing information can be drastically reduced by machine learning. Entrepreneurs can implement machine learning models to detect fraudulent activities, mitigate risks and enhance the security of financial transactions and sensitive data. 

Using machine learning for fraud detection is like having several teams running analysis on hundreds of thousands of transactions per second. Machine learning models can often be more effective than humans at uncovering subtle trends and patterns. These models are also very fast to adapt to changes and can identify both suspicious customers and fraudulent transaction patterns. Fraud and security attacks can also happen 24/7, and machine learning algorithms don’t need breaks or sleep. On top of this, entrepreneurs don’t have to worry about any human error that could potentially occur from manually checking data.  


There is no doubt that process automation is key for startups to excel and grow. Automating repetitive tasks and workflows using machine learning allows valuable time and resources to be focused on more strategic aspects of the business (like new client prospecting). Automating business processes reduces costs and human error, improves efficiency, and delivers a higher quality of work. Machine learning can help entrepreneurs create automated systems that perform repetitive and standardized tasks, like data entry or sending email check-ins to client leads, all while providing reliable and accurate results. 

These automated systems can process massive amounts of data quickly and efficiently, all while adapting to any changes in business activities. Employing machine learning for automation lets startups streamline operations and workflows, all while improving the flexibility of automated processes.


It is pivotal for startups to constantly look for ways to grow and improve, and customer feedback provides valuable insights into what is working and what isn’t. Through conducting sentiment analysis and examining customer feedback, startups can gain insights into what buyers like and dislike about their business. That said, entrepreneurs can apply machine learning to sort through and analyze thousands of customer reviews and feedback across various channels in a matter of seconds.  

This helps company leaders identify areas for improvement and make better business decisions that lead to product/service improvements, customer service enhancements and brand reputation management.


Machine learning algorithms can analyze vast amounts of complex real-time and historical data and use the findings to generate highly accurate demand forecasts, ultimately enhancing supply chain management. Entrepreneurs can use machine learning algorithms to optimize inventory management, logistics and supply chain operations. Also, machine learning can significantly shorten lead times and allow startups to be more responsive to market changes.

This all helps reduce costs and improve overall efficiency in the delivery of products and services. Machine learning-driven supply chain optimization enables companies to provide a more responsive service, resulting in higher customer satisfaction. Entrepreneurs can also leverage advanced analytics to identify opportunities, trends, and patterns for improvement that lead to increased profitability and better business processes.


Artificial intelligence and machine learning have revolutionized how businesses in virtually every industry operate. Entrepreneurs can use machine learning algorithms to personalize customer experiences, amplify risk detection and fraud management, automate business processes, analyze customer feedback and sentiments, conduct predictive analysis, and optimize supply chains. These are just a few ways that business leaders can employ machine learning to gain a competitive edge, increase productivity, reduce costs and boost customer satisfaction and profits.

Author Bio

Jason Toy is the founder of the 88stacks AI image generator, which provides easy-to-use and affordable tools to democratize access to generative modeling and images. He believes that everyone should have the opportunity to explore and create with generative technology, regardless of their technical background or expertise. To achieve this goal, 88stacks is dedicated to developing innovative solutions that simplify the process of generative modeling and image creation, while also offering comprehensive training and support to their users. Learn more at


EV emission silicone

Costs to Consider When Switching Your Business Car to EV

Electric vehicles are getting increasingly popular these days, with data from Goldman Sachs predicting that EVs will make up about half of all vehicle purchases worldwide by 2035. Countries worldwide are pushing for more EV adoption, with governments offering perks like number-coding exemptions, streamlined registration processes, and even tax incentives. Proponents are touting electric cars’ lower costs in terms of consumption and maintenance. Because of this, some business owners are starting to shop around to change their business cars to the more environmentally friendly option. But is it really the best choice?

The Costs of Switching to Electric Vehicles For Business

Like all aspects of business, important decisions must be made based on logical and empirical evidence. In this article, we’ll examine the costs associated with switching to an electric vehicle for your business. 

Purchase price

By the end of 2022, the difference between the average cost of an EV and a traditional internal combustion engine (ICE) vehicle was around $16,000. While the upfront cost isn’t the most crucial consideration when switching your business vehicle to an EV, the large price disparity might raise eyebrows and turn a few interested businesses away. In some instances, $16,000 is enough to buy another ICE vehicle.

There are a few reasons why electric cars are more expensive. Here are the notable ones:

  • New Production Requirements: Electric vehicles in their current form are a relatively new technology, which means producing cars is more expensive. Charging infrastructures, regenerative braking, advanced driver assistance systems, interconnectivity protocols for updates, and parts production need to be done from scratch and can bring higher EV prices.
  • Research and Development: Developing existing electric vehicle technology, including efficient electric motors and advanced battery management systems, requires significant investments in research and development. While different governments give manufacturers incentives and allow more relaxed regulatory requirements to increase production, R&D costs are typically passed on to consumers.
  • Battery: Like with the engine assembly for an ICE car, the battery serves as an electric vehicle’s heart and sole energy source. These rechargeable batteries require pricey raw materials like lithium, manganese, and cobalt. 
  • Lower competition: Tight competition is often followed by favorable market prices for any product. And while many car manufacturers are stepping into the EV scene, the market is still not crowded enough to warrant a price war that will make said cars more affordable.
  • Limited Production Scale: EVs have not yet achieved the same mass production level as traditional vehicles (although Elon Musk and Tesla are certainly taking a stab at it with their promised 20 million cars produced yearly by 2030). In the meantime, economies of scale are not fully realized. As production volumes increase and the production process gets cheaper and faster, the cost per unit is expected to decrease.

The silver lining

As with all new and emerging technologies, prices tend to slope downward as time passes. We’ve seen this trend with personal computers, storage devices, televisions, solar panels, etc. Therefore, it’s only reasonable to expect EVs will become cheaper to produce in the future, resulting in more affordable prices for consumers. 


Expensive things tend to cost more to insure, and electric vehicles are more expensive than ICE cars. But how much more expensive is it to insure electric vehicles than regular cars? 

A limited study conducted by MoneyGeek involving 17 electric vehicle models found that the EV cars were approximately 15% more expensive to insure, and 15 of the 17 vehicles’ premiums are above the national average for monthly insurance payments. 

Forbes did similar research with a more expanded sample size (41 of the top-selling EVs in 2022) and arrived at the same conclusion. They noted that EV insurance premiums reach up to $2,280 per year and are about $100 more annually than traditional ICE vehicles on average. That extra hundred dollars might not seem like a considerable sum, but it might be a dealbreaker for some businesses. 


In the United States, the IRS offers up to $7,500 in tax credits for people and businesses that purchase qualified electric vehicles from 2023 onward. The IRS also expanded its qualifications to include mineral and battery component requirements. 

Several EU member states and Asian countries like the Philippines and China offer similar incentives to promote the adoption of electric vehicles.

However, some taxes are levied against EVs. In the US, for example, 33 states charge EV owners an additional yearly fee to drive their cars. Texas, the state that most recently enacted the tax, is asking EV owners to pay $200 on top of their usual auto registration fees, which will go towards maintaining roads. 

California has a similar arrangement; EV owners pay an additional $100, which goes up annually. Oklahoma charges an annual EV licensing fee based on weight, with vehicles weighing more than 26,000 pounds being charged $2,250 yearly

The point is that businesses looking to buy electric vehicles must conduct in-depth research on applicable taxes before switching.

Charging costs

Pure electric vehicles and hybrids can be charged through designated charging stations. Some stations are free to use, while some require payment and may charge based on usage, kilowatt per hour, or charge time. It is no secret that electric vehicle charging is notably cheaper than filling up a gas-powered car or truck. How much cheaper depends on the model and battery size, but we can safely say that it is priced lower than gas or diesel across the board. Some sources claim that a full charge can cost between $10 and $30, which can present massive savings for businesses, especially over extended periods.

However, a few factors can affect charging costs for EVs. Businesses that require multiple EVs for fleet operations may need to look into installing their own charging stations, as public charging stations may not be the most reliable option for their on-demand charging needs. 

Type of charging stations

There are three levels of charging stations. Level 1 chargers are better for residential vehicles due to their slow charging times and other limitations.

Level 2 chargers, meanwhile, are more suited for cars and other light-duty vehicles up to trucks. Each of these stations can cost up to $6,000 to install. 

Level 3 chargers are used for heavy-duty vehicles and can reach up to $80,000 in installation costs. 

Maintenance and repair costs

Traditional ICE vehicles require routine maintenance to keep all systems running in decent condition. The frequent maintenance visits are a direct result of the complexity of a gas-powered vehicle, i.e., more parts mean more points of failure. Electric vehicles have fewer moving parts, so they don’t need to be serviced as frequently. However, not frequent doesn’t mean never

Most sources agree that electric vehicles are cheaper to maintain (up to $949 less annually). This is for regular maintenance checks and typical consumable replacements. The biggest cost of EV maintenance comes from its lithium-ion battery. Most EV manufacturers cover battery replacements for the first eight years and 100,000 miles of ownership. Out-of-warranty battery replacements are estimated to cost between $4,400 and an unreasonable-sounding $17,600.

While maintenance is cheaper overall, EVs are more expensive for things like system failure and collision repairs. Minor fender-benders are expected when using any vehicle for business or otherwise. The final cost is highly dependent upon the make and model of the vehicle, but they’re generally more expensive than ICE vehicle repairs because parts aren’t as widely available.

Another thing to consider is the availability of repair. Finding authorized repair shops that handle EVs may be difficult, especially for less urbanized areas. While it is technically possible for businesses to perform DIY repairs, they do run the risk of voiding long-term warranties. Furthermore, proprietary parts like automated systems and computer-controlled functions need specialized attention. 

Are EV vehicles worth it?

Reading through this article might discourage business owners from switching to electric vehicles due to the possible costs. However, we need to remember that EVs also present massive benefits in the long run. From maintenance costs to eliminating fuel expenses, an EV can help businesses save money throughout their operations in many ways. 

Aside from tangible savings, EVs are also immensely beneficial for the environment. Zero-emission vehicles bring us closer to minimizing our carbon footprint and help avert the disastrous effects of climate change. 

Additionally, more brand-centric businesses using EVs can attract more customers — and investors. Environment, Social, and Governance (ESG) investing is becoming increasingly popular as the world becomes more environmentally conscious. 

At the end of the day, it is the business’s responsibility to weigh the potential costs of switching to electric vehicles against their inherent benefits before considering the switch.

self-healing mobile business

Streamlining Business Operations: Harnessing the Power of Management Software


In today’s fast-paced and competitive business environment, organizations face the constant challenge of maximizing efficiency and staying ahead of the competition. To achieve these goals, businesses are increasingly turning to management software, which has revolutionized the way companies operate and manage their resources. With its wide range of capabilities, management software offers a multitude of benefits, from streamlining processes to enhancing productivity and improving decision-making. This article will explore the significance of management software in the business industry, highlighting its role in optimizing operations. Additionally, we will delve into how it can simplify and enhance the recruitment process, ultimately leading to more successful and efficient businesses.

Enhancing Operational Efficiency

Effective management software, including talent management software, serves as a valuable tool for businesses across diverse industries. By integrating multiple functionalities into a unified platform, it enables seamless coordination between different departments, facilitates real-time communication, and centralizes data management. For example, project management software allows teams to collaborate, assign tasks, and track progress in a centralized system, eliminating the need for countless emails and disjointed spreadsheets. Inventory management software streamlines the tracking and control of stock levels, reducing wastage and ensuring optimal inventory levels. Financial management software automates processes such as invoicing and expense tracking, reducing manual errors and enabling efficient financial analysis. With talent management software, businesses can effectively handle recruitment, onboarding, performance management, training, and succession planning. By leveraging such comprehensive management software, businesses can streamline their processes, enhance operational efficiency, and ultimately improve their bottom line.

In addition to the comprehensive management software mentioned above, building a mobile app can further enhance operational efficiency for businesses. By developing a mobile app that integrates with the management software, businesses can provide employees with a convenient tool to access crucial information, perform tasks, and communicate on the go. Whether it’s checking inventory levels, assigning tasks, or approving expenses, a mobile app empowers employees to stay connected and productive, eliminating the need for them to be tied to their desks. With the ability to access the management software anytime and anywhere, businesses can achieve even greater operational efficiency and agility in their day-to-day operations.

Improved Decision-Making

Accurate and timely decision-making is vital for success in the business world. Management software offers comprehensive insights into key performance indicators, allowing managers to make informed decisions based on reliable data. Through customizable dashboards and reporting tools, businesses can access real-time information on sales figures, customer behavior, production metrics, and more. For instance, customer relationship management (CRM) software provides a holistic view of customer interactions, enabling businesses to identify patterns and preferences, personalize marketing efforts, and nurture long-term relationships. Similarly, business intelligence tools enable data visualization and analysis, empowering leaders to identify trends, spot bottlenecks, and make strategic adjustments to drive growth and profitability. By leveraging management software, businesses can gain a competitive edge by making informed decisions swiftly and accurately.

Seamless Recruiting

Recruiting and onboarding talented individuals is a critical aspect of any business’s success. Management software can greatly simplify and enhance the recruitment process. With applicant tracking systems (ATS) integrated into management software, HR departments can efficiently manage job postings, track applications, and collaborate with hiring managers. The software enables automated resume screening, allowing for faster candidate shortlisting based on predefined criteria. Additionally, it facilitates seamless communication with candidates, scheduling interviews, and sending notifications, thereby improving the overall candidate experience. HR analytics capabilities within management software provide insights into recruitment metrics, such as time-to-hire and cost-per-hire, enabling businesses to optimize their recruitment strategies. By leveraging management software for recruitment, businesses can streamline their hiring processes, reduce administrative burdens, and ensure they attract the best-fit talent for their organization.


The business industry is undergoing a digital transformation, and management software has emerged as an indispensable tool for success. From optimizing operational efficiency and enabling data-driven decision-making to simplifying and enhancing the recruitment process, management software offers numerous benefits to businesses of all sizes and sectors. By embracing these technologies, organizations can stay competitive, streamline their operations, and unlock their true potential in an increasingly complex and dynamic business landscape. As the business world continues to evolve, harnessing the power of management software will undoubtedly be a key driver of success. By leveraging the capabilities of management software, businesses can achieve greater efficiency, agility, and growth in an ever-evolving marketplace.



How Downtime Forced by Coronavirus Could Be An Entrepreneurial Opportunity

For would-be entrepreneurs who have longed to turn a side hustle into their main hustle, the shutdown created by the coronavirus may have provided that long-awaited opportunity.

Often, a lack of time is one of the major reasons people give for not starting their own businesses. But these days – with everyone urged to stay home and outside activities limited – those newfound extra hours could be invested in taking steps toward creating that business, says Shravan Parsi, CEO and founder of American Ventures, a commercial real estate company, and ForbesBooks author of The Science of the Deal: The DNA of Multifamily and Commercial Real Estate Investing (

“It definitely takes effort, energy, and a willingness to step out there, but the rewards can be great,” Parsi says.

Parsi was a full-time pharmaceutical research scientist working 9 to 5 and dabbling in real estate on the side when he realized his regular job was hampering his real estate deals because he wasn’t available to talk with people or show a house during the day. Eventually, he bid farewell to his old career and launched his new one in commercial real estate.

Parsi has a few tips for those who long to shake loose from their current careers and venture into something that drives their passions:

Be bold and flexible. A willingness to take chances and adapt to changing circumstances is critical. Even in seventh grade in his native India, ambition boiled in Parsi. He realized that to become the kind of global leader he aspired to be, he would need to know English. So, he transferred to an English school. “My parents supported my decision even though they knew it would be challenging,” he says.

Be interested in everything and observe closely. You never know when opportunities to expand your knowledge – and be inspired by new ideas – will present themselves. Parsi says he learned this lesson at age 14. His father was a doctor who himself invested in real estate as a passive investment and was having a two-story house built – one story for the family and one as a rental. “He pointed out that I had time to kill over summer vacation and recommended I watch the process,” Parsi says. “So my brother and I watched the construction and supervised the contractors. It left a strong impression on me.”

Pivot when necessary. Life doesn’t always go as planned – as the coronavirus has shown – so you need to be prepared to change direction, Parsi says. As an example, Parsi originally planned to follow in his father’s footsteps and become a doctor. But admission to medical school in India is highly competitive and he missed the cutoff criteria by one-tenth of a point. That’s when he pivoted and became a pharmaceutical scientist instead.

Learn how to sell anything. At different periods in his life, Parsi worked in a cell phone store, sold Amway products, and sold nutritional supplements. Those experiences weren’t always the best, he acknowledges, but he did gain something from them. “I realized that if I can sell the products and a story and recruit others, then I can sell anything,” Parsi says. “Selling is a pivotal skill most entrepreneurs must have.”

Anyone who is inspired to get their entrepreneurial drive moving during the current downtime should not completely throw caution to the wind, Parsi says.

“I did not quit my pharmaceutical job right away,” he says. “I had an objective to stay in that job until the real estate income was twice the value of my salary. When I hit that objective – when real estate was no longer a side hustle – I decided it made sense to invest more time in real estate than the scientific position.”

Now American Ventures is a successful multifamily and commercial real estate investment firm with a proven track record.

“Never settle for less,” Parsi says.


Shravan Parsi, CEO and founder of American Ventures, a commercial real estate company, is author of The Science of the Deal: The DNA of Multifamily and Commercial Real Estate Investing ( Parsi is an entrepreneur and innovator with a background in the diverse fields of real estate investing and pharmaceutical research. He has been involved in Texas real estate since 2003. Born in India, Parsi developed a life-long interest in business and investing from watching his father, a medical doctor, invest in real estate. Parsi has acquired several apartment complexes in aggregate of over 4000 units  and several commercial properties by co-investing with private equity groups, pension funds, sovereign wealth funds, family offices, and accredited investors.