AI is the buzzword nowadays and there’s a good reason for it – it’s everywhere, including in business. How can it benefit your business? Most people will associate AI with tools such as ChatGPT or Character.AI – online available tools used for a number of tasks. AI in essence is the technology that provides computers and machines with the ability to simulate humanlike intelligence and solve problems.
Applications in AI are increasing by the day and small businesses are one of the beneficiaries of this technology.
Here are some ways you can make the most of AI if you are or aspire to be a small business owner.
Market research
Having a useful AI tool at your disposal can easily shorten the time you spend carrying out market research about your targeted sector. AI can analyse huge amounts of data in a much shorter period of time than people, and in turn to identify trends and share insights about a chosen set of markets. This can give competitive advantage for businesses allowing them to capitalise on potential opportunities.
Generating content
One of the most widely applied AI functions has been for writing content. It has been adopted quickly by ecommerce businesses. ChatGPT is one of the most widely used content generating tools for a number of reasons – it can produce content in seconds and match your needs in terms of topics, length and tone of voice. Another popular AI content generation tool is Google’s Gemini, which performs similar functions.
Automation
AI can be incredibly beneficial when used for automating tasks, allowing you to focus on more demanding challenges. As a result, it will ramp up your efficiency and productivity levels. Some good examples of utilising AI in would be in your marketing department – for example, automating emails and creating and managing social media posts. Other applications may include automating tasks such as invoice generation or inventory management.
Customer service
Chatbots are a form of AI that is widely used by businesses to enhance the customer experience. They are quite useful in dealing with frequently asked questions, by recognising certain phrases in the users’ queries and responding to them. While a small business might not necessarily have the need to address a high number of customer issues, it can still be beneficial by enhancing customer experience by reducing wait time and providing the required information in a timely manner.
The bottom line
AI is undoubtedly one of the most useful tools nowadays with many of its benefits accessed free of charge. However, there are a number of needs that AI will not be able to fulfil as successfully as seasoned professional experts. Remember, AI is here to help and assist, but you still need the human touch to be able to make the most of this resource.
