Sep 30, 2024
Disrupting Multi-Billion Dollar Markets: Spotting AI Opportunities
In this episode, I chat with Cody Schneider, a tech entrepreneur and founder with over 10 years of experience in building and scaling online companies. Cody shares insights on identifying market opportunities, particularly in the AI-powered background check space.
He also discussed the process of validating ideas, from analyzing Google Trends data to conducting competitive analysis. Cody emphasized the importance of leveraging one's advantages and personal networks when entering a new market, and provided a framework for pricing strategy: charge 10% of the current market rate and deliver the service twice as fast.
Chapters
(00:47) The background check industry is a $3.6 billion market growing at 9% annually.
(15:21) Healthcare providers could be a good initial target market for an AI-powered background check service.
(24:39) Incumbents in the social media scheduling space are being disrupted by AI-native startups offering integrated solutions at lower prices.
(32:29) A potential pricing strategy for a new background check service could be charging 10% of the current market rate and delivering results twice as fast.
(40:03) Programmatic SEO content, especially "versus" comparisons of competitors, can be an effective way to capture bottom-of-funnel traffic.
Host Links
https://www.linkedin.com/in/jaysingh10125
Guest Links
https://www.linkedin.com/in/codyxschneider
https://www.youtube.com/@codyschneiderx
Keyword:
AI background checks, social media screening, Google Trends, market sizing, healthcare providers, unstructured data, structured data, API, vector DB, cold email, Facebook ads, Google ads, SEMrush, programmatic SEO, landing pages