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How AI can Help Small Businesses

by Steve Smith

Artificial Intelligence is slowly taking over the world and has become an essential part of many of the largest industry like education, healthcare, cyber safety and even the travel industry. Big companies are utilizing and benefiting from it to streamline workflows.

As it continue to slowly dominate a lot of industries, can small businesses leverage on Artificial Intelligence to grow their brand?

What is Artificial Intelligence?

Many people have been using AI without the knowledge of it. In fact, only about 33% of consumers think they are using AI when the reality is 77% actually uses the technology. From voice command search in your mobile phone to a ride-hailing services, AI is now being used every day.

Meriam Webster defined AI as “the capability of a machine to imitate intelligent human behavior” while Oxford defined it as a development of computer systems that can perform tasks normally requiring human mind. AI is more than about robots replacing humans in every industry but it is how program machines and computers can carry out task and answer queries with human-like intelligence.

Whether you are aware or not if you are already using AI or if your business is now ready for any AI integration, here are some ways Artificial Intelligence can surely help your brand grow.

Improve Customer Service

Regardless how big or small a business is, customer service is an essential part of it. It is expected that AI will change the landscape for customer support for the coming years. Through AI-enabled support services, communication with customers will be faster and efficient. Equipped with sentiment analysis technology, these tools will significantly assist customers with their queries and complaints effectively. Since most of these conversation are script-driven, the risk for human error is also eradicated.

Deploy of software for live chat or the chatbot technology has been one of the most effective tools of AI for ux development. It has the capability to engage with customers fast, provide answers to their basic and sometimes complex questions and allow these kind of interactions even with the limited number of staff.

Better Security for your Business

No small business is excuse from any cyberattack. Cybersecurity should be the primary concern for all types of businesses.

Integrating your small business with AI technology that can track behaviors consistent with fraud, can self-adjust and learn from current situation and can act accordingly to defend systems, can help you survive any cybercrime threats and can keep your consumer data safe.

Leverage on AI powered mobile apps

AI-powered mobile applications on mobile are excellent time saver, convenient, as you can always carry them around and effective to increase productivity in your business. Tools like Clarity Money, Trove, Clara and Olivia can help you grow your business. You can optimize them as your financial assistant and help you in making a smart and quick financial decisions, streamline your network’s contacts or help you manage your emails efficiently.

Improve HR and Recruitment

This has been one of the unexpected area where AI started to emerge. Human resource and recruitment management have been streamlined with the help of AI technology and has improved greatly to save time in doing repetitive tasks and lessen manual work that helped speed up operation.

Some small business don’t even have a HR department to handle all the human resources work which can be laborious to business owners. AI enabled applicant tracking systems can be a great help to manage job applications, browse tons of resumes and have the ability to pick the right candidate. Some can even do initial interview without any human involvement.

Stronger Marketing and Better Sales

Artificial Intelligence in marketing has been playing an essential role for quite some time now. One of the most notable tool is email marketing which can be taken further with automation. This allows you to create emails that can be sent automatically. This automation can be triggered by a specific date like birthdays and anniversaries or by a subscriber’s activity or inactivity.

If the receiver of your email acknowledges and respond to it, an AI powered response will be triggered until the customer converts into sales – perhaps the most important factor in any business.

There are a lot of AI tools that help sales team augment their target and widen their reach. Some can help find new leads in a database and can help fill in pipelines fast. Other tools even have the ability to target and identify leads that are likely to close.

Cost and Time Advantage

Utilization of AI powered tools and application to your business can give you benefits. You can end up saving tons of money from hiring an extra employee, you can cut time from any laborious or repetitive task that can be done at a push of a button and you can derive more productivity from your employees who have enough time in their sleeves to do creative work that can definitely help your company to grow.

Competitor’s Check Made Easy

In-depth knowledge about your products or services and the demographics of your target market is sometimes not enough to survive your business. Understanding market trends and knowing your competitors behavior are essential to the growth of your company. AI-based analytics softwares can give you significant and relevant insights of your competitors. It can help you track your competitors activities in different platforms like social media and websites which can help you get to know your competitor’s strategy and stay competitive.

Final Thoughts

As Artificial Intelligence become more accessible to small businesses now, potential growth for these enterprises are limitless.  AI allow small businesses to thrive in this competitive world by effectively providing innovative and fast approach to conventional tasks giving employees time to focus more on important matters needed to grow the business.

So if you haven’t tried or recognize any AI powered tools for your business, maybe now is the right time for you to do so.

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