Tech Trends: Does My Small Business Need Artificial Intelligence?

Most of us thought we’d be buzzing round like the Jetsons in the early 2000's. Life, as we know it today, isn’t flying cars and robot maids, or at least yet. But we have made huge jumps into the realm of artificial intelligence (AI).

The question begs an answer, what does this mean for small business?  I know AI seems intimidating and complicated, but unknowingly, you're probably already using it.

Let's examine how you likely use AI, and how your small business might use it in the future.

How Big Brands Already Use Artificial Intelligence

Ready or not, small businesses need to understand how AI is advancing big business. Depending on your goals, learning through examples is an excellent introduction to AI.

Large consumer-based companies, such as Amazon or Spotify, use AI to know their users. AI records consumer’s purchases, likes, and setting changes to discern who they are. Large companies become your virtual best friend. 

Recognizing how your goods relate to your consumer can offer them a customized experience.  The more you know a customer, the more you can show them things they may like. That’s later leveraged in to buying power.  

The Benefits of AI for Small Business Markets

Good news is, small businesses can replicate this activity to scale. This kind of technology gives you the ability to be smarter, faster, and more efficient. Providing your small business, with limited resources, a leg up.

Imagine being able to predict the needs of your customers before they ask, or before an issue happens? AI’s predictability features can identify potential problems and up-sell all at once. 

As you gather information, your marketing efforts will be more impactful. Personalizing the user experience from inception goes a long way, benefiting your bottom-line.

The benefits of AI in marketing include:

• Prediction - AI can predict your most significant leads and what state of the pipeline they are in before you've spoken to them.
• Segmentation Targeting - AI eliminates guessing about your target audience(s). It learns as your audience interacts with you. Creating perfect target audience segments, with a higher return on investment.
• Automation - Not only can you schedule the delivery of the perfect marketing material(s) - but AI will learn when prospects are more likely to open said materials. Timing is EVERYTHING.

Forget spreadsheets and cold calls, AI has all the info you need! As mentioned above, artificial intelligence works to scale. AI can lead your small business to the right customers, plus teach you how to engage with them on their level.

How Small Businesses are Already Using AI Features

Without noticing, you've probably woven AI features into your current software platforms. Do you use any smart Customer Relationship Management (CRM) system features?  Anything in your CRM that automates a repetitive task is most likely AI.

Does your sales team have their CRM auto-enter data for them? Or does HR use it to find the perfect job application without reading every submission? Maybe your marketing team creates personalized emails based on lead purchase patterns. You guessed it, that's AI hard at work. 

AI is a catalyst for nipping the mundane, reducing mistakes, increasing capacity without adding headcount, and allotting more time to grow your business. Certainly, use varies by business but we are willing to bet there is at least some AI in your current software. Can you think of any off the top of your head that you not only enjoy, but has shown a positive ROI?

Incorporating AI Products to Grow Your Business

Assuming this article has lessened your initial dread of AI - how can you now integrate it without biting off more than you can chew?  It’s much easier than you think.  Deploying AI is no different than integrating new software or a new procedure. Your IT support provider will work with you and your business analyst (if you have one) to guide this process.

Working with your IT provider and business analyst, map out what you’re trying to accomplish. Defining these goals will help both parties see opportunities to incorporate AI. Maybe you'd like to add AI to your sales or manufacturing processes. Whatever the case, your IT department should be part of the conversion. They'll oversee setting up the new system - plus they'll work closely with the vendors to bar any unintentional setbacks.  Walk into this process with a partnership mindset. Your business, your IT provider, and other vendors working together, step-by-step.

Check in with your staff. Make sure they know that AI is NOT taking their job! It's just a new tool in their arsenal. Breed an environment that normalizes the idea of AI and be prepared to train on the new platforms.  As the platform learns, your employees will use them more and more to support your clients. They will grow to love it, but we suggest hedging out any negative press before the rumor mill takes over.

AI at some point will no longer be an option, it’ll be a fact of business. It might be time to embrace it for your small business, even if in a small capacity.

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Related: Tech Trends: Everything-as-a-Service (XaaS)