We are in the 21st century right now and artificial intelligence is more than simply a trendy term. Small and medium businesses, startups, and enterprises all want a piece of the AI pie, which is “THE!„ technology that everyone in business is asking for. Major corporations have fully embraced the artificial intelligence revolution, and small businesses Can benefit from it too.
With a long number of AI usage cases related to business that shows how it is boosting organizations, AI is becoming the technological standard across all business sectors. But before doing that, let’s dispel some common misconceptions about artificial intelligence, particularly as it relates to its use in startups and small enterprises, i.e., SMBs.
Busting 3 Common Myths About AI for Small Businesses
Myth: The Process of Integrating AI Is Laborious
Artificial intelligence was created as cognitive computing to assist businesses in scaling, growing, and automating, as well as to expedite and simplify operational procedures. Therefore, installation is as straightforward as any new tech integration can be with the appropriate AI tools in place.
Myth: Utilizing AI in Business Demands Technical Expertise
Both the development of AI and the application of AI tools in business operations exist. The field of artificial intelligence is developing, and there are platforms and tools available that do not require specialized technical knowledge. For example, you can use app analytics tools to understand user activity on your website or mobile app for instance, or content tools to create better marketing content.
Myth: AI Is Pricey for Enterprises
It is common to hear worries about the costs associated with implementing artificial intelligence in small firms. Let’s explain that.
The breadth of the project typically requires substantial financial commitments when developing a tailored AI platform for a major corporation or government body. For startups, though, this is not the case. There is a variety of commercial artificial intelligence software available that can complete jobs successfully, and in the event of custom development, the correct vendor (and we really mean it) may create a platform suited to the company’s specialized needs and financial restrictions.
Startups have benefited greatly from the use of AI tools throughout the years, as evidenced by their rapid growth. The timely integration of artificial intelligence into enterprises has aided in automation and digital transformation with AI in addition to resource optimization, productivity improvement, and cost reduction.
Artificial Intelligence for SMB Adoption: A Guide for Startups
Here’s a quick glance at how companies are embracing and incorporating artificial intelligence into their processes in order to maximize resources, reduce costs, and improve productivity!
Customer Service With Artificial Intelligence
Following the lead of Fortune 500 companies like Amazon, clients are frequently given top priority by organizations. It should come as no surprise that more businesses are looking into elegant ideas for better customer care and assistance. According to a Microsoft research, 54% of all global consumers think their expectations for customer service have increased from a year ago.
Chatbots are frequently the first pick for AI systems for small firms to close the gap. AI-powered chatbots provide rapid and efficient customer care and is the ideal instrument for assuring consumer happiness and, in turn, brand loyalty; turnaround times are typically quick, expenses are low, efficiency is great, and they also assist with personalizing offers, product recommendations, lead creation, and more. For instance, Ubisend, the top chatbot provider in the UK, employs AI to assist businesses in having voice or text conversations with their audiences.
Implementing AI to Influence Decision-making
Utilizing AI techniques can assist provide insights into the behavior of their customers as well as their competitors. Video, written, and social media messages can be analyzed using machine learning algorithms, predictive analysis, cutting-edge computer technologies, and other business intelligence tools to deliver insights that help firms stay competitive. Artificial intelligence can also benefit businesses by giving them real-time insights into the requirements and preferences of their customers, allowing them to adapt products and services accordingly.
For instance, Crayon, a tool for competitor analysis, monitors the actions of rivals on several web pages and social media platforms. The smallest changes in marketing terminology, pricing, and offers are all covered.
AI Software Can Speed Up Content Creation and Marketing
AI is used in marketing by start-ups and small firms to assist in the intelligent use of data. Updates and real-time insights on where the consumers are can be provided by artificial intelligence technology. It can also make recommendations for resource allocation that is wise and cost-effective, uncover new promotional possibilities, and more.
Strategic dissemination and intelligent production are key components of content marketing. The discovery of fresh ideas related to content and even content optimization for various audiences can be assisted by AI techniques. AI-powered technologies like Curata assist in finding themes that are demonstrated to drive outcomes and take the guessing out of the process. By comparing it to content that is already ranking highly and making recommendations, platforms like Market Muse and Atomic Reach aid with content optimization.
Today, artificial intelligence tools are widely used for content curation, redistribution, and production, as well as video creation and image editing, to optimize profits across digital platforms.
Email Optimization via AI
Even though some of the more recent possibilities in digital marketing could be more interesting, email marketing remains one of the best and most widely used strategies. The answer to why this is so is straightforward: Because it works. Even though technology has advanced, we keep on reading emails every day. Email marketing remains to provide a strong return on investment across the board.
However, this does not mean that email is dated technology. Like so many other facets of how we utilize the Internet, email’s potential has expanded and changed throughout time. With the use of AI, we are now much more capable of achieving our goals with email marketing, enabling better personalization (through online services such as VeritcalResponse, and increasing conversions.
How do we specifically achieve bigger goals with an email with the assistance of AI? By correctly tracking subject line performance and tweaking them for clicks, AI outperforms even the best copywriters. Secondly, based on prior talks, predictive analytics helps predict the type of future participation. Then, artificial intelligence is capable of producing and optimizing material in a number of email-friendly forms. Finally, by examining clients’ browsing patterns and preferences, AI eliminates the guesswork in timing your following up, communications, and remarketing.
HR Procedures Using Artificial Intelligence
One of the most well-known applications of AI has been in the hiring and recruitment processes, including the use of Natural Language Processing in relation to automated resume screening and finding the right match, as well as the growth and status of applications, verification, and validation of credentials, etc.
The simplification of the recruiting and training process for new workers is another example of how AI software for small businesses, i.e., startups, has greatly benefited HR professionals. In addition to assisting with recruiting and training, it can be useful in gathering feedback from new hires and assisting them with inquiries on corporate policies and benefits.
Using AI To Improve Data Security
Given the volume and sophistication of cyberattacks that have already occurred in recent years, it is obvious that enhancing data security is perhaps the most crucial application of artificial intelligence tools. Artificial intelligence may examine data from prior assaults, which would result in discovering any patterns and anticipating any impending dangers.
According to the Capgemini Research Institute publication “Reinventing Cybersecurity with Artificial Intelligence,“ it is essential to bolster cybersecurity defenses with AI.
Startups are increasingly vulnerable because they frequently use outdated threat-detection models. Additionally, even if there are several examples of how integrating artificial intelligence technologies into current cybersecurity systems has prevented enterprises from suffering significant losses, the topic of how to apply AI in small businesses will always be present. It is calculated that a firm needs 196 days to recover from a cybersecurity incident, according to a Norton analysis. AI-powered solutions can be extremely helpful in these circumstances.
Many startups and SMBs have yet to use AI, while some have been quick to do so. Cognitive technologies and companies that can adopt them are those to whom the future belongs. AI technologies, like machine learning, mobile applications, NLP, voice assistants, computer vision, and similar tools, are here to stay. Thus, it makes commercial sense for companies to take advantage of these tools to gain a competitive edge and increase productivity and profitability.