It feels like just about everyone is talking about artificial intelligence, using generative AI chatbots and badgering others about how they should be doing the same.
But longtime startup investor Barbara Corcoran says that AI is not something that you have to jump on right now or else. Corcoran, who spoke to CNBC Make It while promoting a partnership with Chase for Business, believes many people — particularly business owners — are hopping on the AI train without really knowing how it can benefit them or their companies.
“There’s always room to use it somehow in your business,” she says. “Is it a crucial skill? Not for every business I meet. More businesses that are using and investing in AI in a big way really have no idea what they’re getting out of it or how they’re applying it.”
Without a clear plan or vision for exactly how these tools can benefit you, Corcoran says business owners end up wasting their time and money.
On a larger scale, small business owners are slow to embrace AI, according to the June 2025 Small Business and Technology Survey from the National Federation of Independent Business on Main Street. Only 24% of small business owners said they’re using the technology, including ChatGPT, Canva and Copilot, according to the survey. Seventy-six percent are not.
Still, sloppy execution of artificial intelligence tools can result in “AI debt,” something 79% of companies globally expect to run up in the coming years, according to a new report by Asana. So it’s important for those who are using it to do so out of necessity, not because of fear or uncertainty, Corcoran says.
“I think [AI] is the best thing since sliced bread, [but] it’s got to slow down a little,” she says. “It’s associated too much with people losing jobs or fear.”
Is it a crucial skill? Not for every business I meet.
Corcoran isn’t the only businessperson calling for people to be strategic about AI. Paul Graham, a Silicon Valley investor and co-founder of the Y Combinator startup accelerator, says not every aspiring entrepreneur needs to focus on artificial intelligence to find success.
“I haven’t met all the startups in the current [Y Combinator] batch yet, but the two most impressive companies that I’ve seen so far are not working on AI,” Graham posted to social media platform X on August 10. “The lesson to take from this is not that AI is unimportant (it’s very important), but that the founders matter more than the idea. The founders are the best predictor of how a company will do, not the industry it’s in.”
Other highly successful people have a differing opinion, like billionaire Mark Cuban, who uses AI daily and says companies who don’t embrace it risk being left behind.
If you’re considering adopting AI to help boost your business, Kelly Daniel, a prompt director at Lazarus AI, recommends that you start off small with free generative AI chatbots before investing your money into it.
“Maybe you use generative AI to come up with more ideas for your business,” she said in CNBC Make It’s “Smarter” course, “How To Use AI At Work.” “Or maybe you send in a prompt that asks, ‘What are the risks here? What’s the competitive analysis here? Who should I be looking at as a competitor?'”
Corcoran says that once you’ve gotten comfortable using this tech, then you can make more informed decisions for your business and employees.
“The right way to use it is enhancing the jobs, giving people power and helping the people that work for you, she says. “People aren’t taking it on in a meaningful way.”
Want to be your own boss? Sign up for CNBC’s new online course, How To Start A Business: For First-Time Founders. Find step-by-step guidance for launching your first business, from testing your idea to growing your revenue.
Plus, sign up for CNBC Make It’s newsletter to get tips and tricks for success at work, with money and in life, and request to join our exclusive community on LinkedIn to connect with experts and peers.
