Is Artificial intelligence reachable for small businesses?

Artificial Intelligence was created to assist and support humans. Luckily, it has developed exponentially into a technology that provides results. Though it used to be expensive, it has become quite affordable for most SMEs. According to sources, at least 29.5% of CEO's from SMEs speak positively about Artificial Intelligence and its benefits to companies.

With time, AI and Machine Learning have garnered trust from key players in the economy like Elon Musk and Bill Gates. However, some apprehension has been noted among various companies who are loath to invest in AI. Thankfully, we have not gotten to a level that we can say that AI is a threat.

Currently, AI is well under control and is helping companies undertake important duties. Artificial Intelligence has many benefits that can be utilized by small and medium-sized businesses.

AI and Customer Experience

Artificial Intelligence can be used to improve customer service. According to sources, in 2020, at least 85% of customer interactions will be regulated without humans. AI can be harnessed to ensure a convenient, intelligent, and informed customer experience. Therefore, it is more of a solution that most businesses need to impress their clients and make them come back for more.

If customer experience is successful, it can become a competitive driver that helps SMEs attain a significant growth both internally and externally. On the flip-side, it can become a great threat if it fails. Imagine a point where clients do not feel happy about the experience they got from your company. If they were looking for answers that they never received, next time, they would consider seeking the same information from your competitors.

AI in Sales and Marketing

Research claims that the main challenge with cold calling is that it lacks personal touch. Since sales representatives do not understand what the customers want, they are unable to solve their problems. The only solution is integrating Artificial Intelligence in the process.

Artificial Intelligence can be used with Machine Learning so that only interested individuals are contacted. This is a great way to enhance results because the customer insights will be availed to the sales reps. Companies can come up with better ways to provide essential solutions to their customers in different parts of the market.

AI and Project Management

If your business entails some project management, then you might consider leveraging the benefits of AI. Today, most SMEs have some planning, managing, and monitoring that need to be done. However, most of them use complex tools that are too sophisticated to understand. Artificial Intelligence enables decision support systems that are straightforward to enhance how companies are run.

Project management requires more than just strategic planning. Some external changes and inter-dependencies might come uninformed, and this might need some snap adjustments within the company. Some of these challenges might not be solved by modern management methods like agile and consistent delivery. AI and Machine Learning depend on real data and patterns to forecast potential changes and challenges and the most reliable solutions employ.

Final Thought

Though most SMEs are yet to take advantage of AI fully, it is one of the best technologies to integrate into a business. It provides real solutions to real problems that might otherwise paralyze everyday business operations. Artificial Intelligence has improved over time, but it keeps getting better with newer enhancements coming each day. Regular checking of aggregated reviews for IT firms paramount to most SMEs.