Using AI in your search

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September 03, 2024

by a searcher from Dalhousie University - Faculty of Management in Miami, FL, USA

Looking to understand the universe of opportunities to use and leverage AI in a search (self-funded or traditional).

Any personal experiences or tips using AI throughout your search journey would be appreciated!

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Reply by a searcher
from Biola University in North Tustin, CA, USA
Thanks for the tag ^redacted‌. I’ve found AI tools to be particularly useful at aggregating data from published sources but the prompt makes all the difference. I recently used to gather the total population from a prospective franchise territory by inputting all of the zip codes in the territory. Figure it saved me an hour or so of looking up census data. Also used to build a list of plumbing, electrical, and HVAC companies in specific geos, was less successful in getting contact info but still have to perfect the prompt. Also does fairly well providing market data (TAM, growth, etc.) as well as building customer profiles for business plans, etc. Lots of good uses that can save several hours of work. I know I’ve just scratched the surface of what other value AI tools can provide. Good luck.
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Reply by a searcher
from Columbia University in Jacksonville, FL, USA
^redacted‌, my Co-founder and I are bringing AlphaSearch.io to market within a couple of months. Though technically some AI is involved for specific functions, I think people are overusing the "AI" term to try get attention and boost their multiple own SaaS multiples. Personally, I really just wanted to build an internal tool that was similar to Grata or SourceScrub. A couple of years later, I'm still building. The best use cases for AI in M&A are as follows:
1. Deal Sourcing (aggregating data from millions of sites)
2. Creating a PPM or PitchDeck that can aggregate data from industry reports
3. QofE analysis
4. To eliminate administrative redundancy by eliminating positions where Gen AI can enhance productivity
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