Small Businesses Can Use AI to Fuel Success
Small businesses can use AI? Well, the answer to that may be not only can they be using artificial intelligence (AI), but they should be, and soon. According to a survey by the U.S. Chamber of Commerce, 40 percent of small businesses used generative AI in 2024, almost twice the percentage that used it in 2023.
Why Use AI?
Small businesses can use AI to help level the playing field when competing with large companies. It can help make faster – and better – strategic decisions. Also, AI can take over some of the tedious tasks that fill up a business owner’s time. Things like handling customer questions, scheduling appointments, keeping track of inventory, etc. AI can often process simple requests, or even handle some sales transactions.
What Other Sorts of Things Can Small Businesses Use AI For?
Beyond the mundane tasks, AI can track inventory and predict when more product will need to be produced or ordered. It can look at sales trends and suggest adjustments in pricing. It can determine what slow-moving products might be the perfect candidates for a flash sale. If you deliver your product, AI can analyze your customers’ locations to come up with more efficient delivery routes.
Just like large businesses do, small businesses can use AI to personalize their customers’ experience. Looking at past purchases to suggest new ones, for example. Or, by analyzing customer interests, AI can help determine the best marketing channels. For example, examining customers with similar profiles to figure out where (and to whom) to target ads on social media. You can use AI to find the best way to reach your perfect customer.
Will AI replace your workforce?
In one survey, nearly 80 percent of small businesses using AI said it is enhancing their workforce, not replacing it.
The Bottom Line
Experts say the best way to implement AI in your business is to first identify what you want to achieve. Are you interested in growing revenue, saving costs, improving efficiency, increasing customer satisfaction, or something else? Once you’ve decided on what you want to enhance, then you can consult with experienced AI architects to work backwards to where you want the help.
Depending on what you want to work on, you could be looking at some serious money up front to take advantage of AI for fueling success. But surveys show a greater percentage of AI users plan to grow their business going forward versus non-AI users.
Links
Google offers a free course on how to get started with AI.
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