AI Benefits for Small Businesses
Artificial Intelligence (AI) is transforming software development in several ways. While AI is still in its infancy regarding mass market availability, with large tech companies heavily investing in their AI offering, it’s likely to become standard in the workforce.
AI offers many advantages to small businesses, but careful consideration should be given to whether the investment is good for the business requirements in the long run.
Some artificial intelligence platforms include, OpenAI’s ChatGPT and Google Bard, along with organisations such as Amazon, Apple and Meta joining the race. It’s difficult to know which one will have the most impact over the next decade, but it’s important to know what they can do and how they can help. Discussed below are just some of the ways AI can benefit small businesses.
Smarter Marketing Strategy
Marketing strategy can often be difficult to formulate for smaller businesses with limited resources, especially in competitive industries.
Digital marketing campaigns can be enhanced with AI by optimising customer data, identifying target audiences, and delivering more personalised content. Advertisement placements and budgets can similarly be analysed for maximum impact.
Personalisation
AI algorithms are capable of analysing customer data, behaviour, and preferences to offer customers personalised product recommendations. Similarly, more targeted marketing campaigns, and tailored shopping experiences allows small businesses to personalise the customer experience in ways that couldn’t be done previously.
Automation
With AI comes the ability to utilise tools to introduce automation to previously repetitive tasks. This includes helping with data entry, inventory management, and customer support.
In a smaller business where resources are stretched, AI-powered tools can free up time for employees to focus on more valuable activities.
One of the main areas where artificial intelligence can have a major impact is in the customer service department at organisations with a large volume of enquires. AI-assisted chatbots that are fluid and flexible can greatly reduce pressure on customer service agents. As many queries are repetitive and easily answered an effective chatbot will allow agents to focus on more pressing matters.
Efficient Recruitment
Finding the right talent might be difficult for a small business. While the majority of recruiters use some form of digital screening of CVs and cover letters to create a shortlist, artificial intelligence will greatly improve the flexibility of this screening process.
This form of recruitment helps save time in identifying potential candidates and shortlisting the most qualified ones.
Productivity Tools
Many departments require plenty of administrative work, with repetitive tasks. AI-assisted task management apps, virtual meeting assistants and smart calendars can have a big impact in helping small businesses optimise workflows, manage schedules and improve productivity.
With smaller businesses often working with simple CRM systems and Excel spreadsheets, AI-assisted customer relationship platforms can help automatically generate reports, update databases, or transfer data between the organisation’s different systems.
Cost Reduction
With increased levels of automation and better optimised operations, your organisation is likely to see reduced costs in the long run.
As discussed previously, using artificial intelligence tools comes at a price, along with teething challenges due to its adolescence in the mainstream market. Ultimately, the more fine-tuned AI gets the more beneficial it’ll be in reducing costs.
In conclusion, artificial intelligence tools can help small businesses make the most of their resources. While there are many paid AI API solutions available to businesses at the moment, there are many free and open source tools which can be used to your organisation’s advantage prior to any major investments.
Are you considering a custom software solution project for your organisation in 2023? If so, contact us today on +353 1 8041298, or click on the link below to be brought to our contact form.
