How to utilize AI as a small or medium business

Over the course of the last few years, AI has taken the world by storm. From automation to face recognition, there are many ways businesses can benefit from using the new technology.

However, when you hear the words 'artificial intelligence' or 'machine learning,' often the first image that pops into mind is Google or other giant corporations that utilize teams of data scientists. But the truth is, businesses of any size can use the power of AI to their advantage to provide a competitive edge. Here's how.

Becoming more efficient

One of the most popular ways small and medium-sized businesses now use AI is by automating repetitive processes. Things your company used to handle manually (like classifying e-mails or differentiating attractive and unattractive leads) can now be done by computers. Whether you need help with simple or complex problems, AI can assist. That, in turn, frees up your time to focus on more important tasks.

Getting help with customer support

'The customer is always right!' – we've all heard the saying that is the basis of any successful business. You can agree with it or not, but the fact is – customer satisfaction matters. Medium-sized companies can utilize AI to learn about their client sentiment and behaviors, which can then help them improve their product or services.

Detecting fraud

There's nothing worse than dealing with safety issues or fraud. Unfortunately, for the human eye, it can be challenging to detect fraud, especially when it's as sophisticated as nowadays. Machine Learning can be trained to identify potential issues in present and future transactions. The new technology can assess potential fraud patterns, and you can have peace of mind, knowing your business is in safe hands.

Creating content

Content creation is a time-consuming task. However, if you're a small business owner, hiring an in-house content creator may not be economically wise. Thankfully, nowadays, you can utilize many AI tools (like ChatGPT) to get topic ideas and write product descriptions, blog posts, and social media captions. Some AI tools can even help with graphics and visuals, which makes the entire process much quicker and more cost-efficient.

Getting ideas for sale leads

Closing the deal is no walk in the park. To compel your client to use your services, you must understand their values, desires and focus on personalization. If you use AI technology in sales wisely, it can increase your business revenue. This is possible by utilizing tools that can help with human-like interactions (generating leads), for instance, Drift or Exceed.ai.

Ending notes

From bookkeeping and invoicing to content creation and marketing – there are endless ways AI and Machine Learning can help you scale your business. By incorporating the new technology in your company, you can secure your data, up your productivity game, and automate many routine tasks.

AI is here to stay, and it's only getting bigger and better. So take the time to learn how to leverage it to your and your business's advantage! If you won't, your competitors will.