🛡️Avoiding Costly Business Mistakes

AI as a Second Set of Eyes

Use AI to catch financial blind spots before they cause damage. A second set of eyes that never gets tired or distracted.

Quick Answer

For search, voice, and "just tell me what to do".

AI financial monitoring acts as an always-on analyst that reviews every transaction, tracks every trend, and flags anything unusual. It catches what founders miss when they're busy building the business.

Key Takeaways:

  • Founders are too close to spot their own blind spots
  • AI provides tireless, consistent monitoring
  • Second opinions prevent expensive single-point failures
  • Catching issues early is exponentially cheaper than late

Playbook

1

Document your known blind spots and biases

2

Set up AI monitoring for areas you tend to neglect

3

Create automated flags for anomalies in spending patterns

4

Schedule monthly AI 'audits' of financial assumptions

5

Use AI to challenge your projections with historical data

6

Review flagged items even when they seem unimportant

7

Treat AI observations as hypotheses to investigate, not facts

Common Pitfalls

  • Over-trusting AI without verification
  • Ignoring AI flags that contradict your beliefs
  • Using AI to confirm existing assumptions instead of challenging them
  • Not giving AI enough context to make good observations

Metrics to Track

Blind spot detection rate (issues caught by AI first)

False positive rate (AI flags that were non-issues)

Prevention value (estimated cost of avoided problems)

Response time to AI alerts

FAQ

What financial blind spots are most common for founders?

Optimism bias (overestimating revenue), recency bias (projecting recent trends indefinitely), and attention bias (focusing on what's urgent vs important). AI counters all three.

How do I train AI to catch my specific blind spots?

Share your historical decisions and outcomes. Point out where you've been wrong before. Give AI permission to flag anything that matches patterns of past mistakes.

When should I override AI financial warnings?

Only when you have specific context AI doesn't have. Document your reasoning. If you override warnings repeatedly and they keep being right, recalibrate your confidence.

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Salarsu - Consciousness, AI, & Wisdom | Randy Salars