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Use of AI in Small Businesses

3 min read

Artificial intelligence is revolutionizing industries, departments, and therefore the way we live our daily lives. Innovative technologies are emerging and changing the way we interact with our surroundings while small businesses are never left behind. they need the chance to seize the absolute best of AI and improve their performance exponentially. In fact, studies have shown that nearly 30% of small and medium-sized businesses believe that AI will have the best impact on their companies. Here we’ll take a better check out exactly how.

1. Automating reporting processes

To be ready to effectively make better business decisions, small businesses need a transparent overview of the info they monitor and report on. Traditionally, spreadsheets were enough but as more information is gathered every day, the necessity for professional tools which will process enormous volumes of data, automatically report on data and business processes – is becoming typical. Tracking KPIs and sending reports on a daily, weekly, or monthly level enable small businesses to specialize in the info itself, without performing tedious tasks of building spreadsheets and trying to manually process different business touchpoints.

2. Relieving the customer service department

Many small businesses affect customers but the standard and speed of answering questions is oftentimes a bottleneck which will cause damages within the brand image itself. Technologies like chatbots enable fast resolutions to complaints and may be utilized in providing repetitive answers so as to alleviate the customer service department and keep the main target on more human-centric tasks. With the 24/7 accessibility of chatbots, customers can receive answers regardless of the day within the week, holiday or just if someone’s not currently present within the office. The results like increased customer satisfaction levels will definitely follow.

3. Transforming analytics and predicting the longer term

With the implementation of smart technologies, small businesses can make more informed decisions and base their strategies on advanced analytics and online analysis tools that contain predictive analytics models. These models are often built simply with the assistance of software and tools that don’t require heavy IT knowledge or advanced data science skills. That way, even small businesses can know what to expect within the future and orient their strategies so as to maximize performance and profits. The more data you’ll monitor, manage, and analyze, the more quality you’ll expect in your decision-making process.

4. Hiring smarter and faster

Finding and recruiting top talent may be a challenge for little businesses that don’t have resources like big companies (huge networks or brand recognition, for example). Turning to AI can help within the process as one recruiter doesn’t necessarily have time to manually evaluate each application, especially in small companies. Algorithms like machine learning can determine what quite processes resulted within the absolute best hire, e.g., where you found potential candidates, how you reached out, and initial screening like automating questionnaires for the precise role. AI can screen many applications directly, leaving you to specialize in most promising candidates and save valuable time and resources.
Key takeaways

Artificial intelligence is the way forward for the business. If companies implement intelligent technologies and use AI in augmenting their operational and strategic initiatives, they will reap numerous benefits. If your small business remains not ready, at some point, it’ll certainly start to implement AI solutions and learn all the pros like saving time, increasing productivity, and effectively reducing costs.

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