AI in small businesses

 

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AI and ML play a vital role in today’s world, from voice search to cab-hailing service we are using AI in our day-to-day life to make our work easier. From getting personalized ads based on the recent search to getting a playlist of your choice on your favorite app(Youtube, Saavn, Spotify, etc.) as per your choice, AI is omnipresent.

It has occurred that AI has grown as a game changer for all the industries by providing a smart application which helps them become automated and let them work more efficiently.

 

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Artificial Intelligence is not only getting used in large-scale businesses but also getting used in Small and medium-sized businesses (SMBs). It was a tough challenge for SMBs to adopt this technology as there was a myth that for implementing this tool we require data scientist and tech experts.

 

For businesses on a budget, there is no need to break the bank to implement machine learning and  AI in the operation. By launching it on a smaller scale and taking advantage of ready-made solutions, one can efficiently use the capabilities of AI and improve performance in various departments.

 

Best way to employ AI in SMBs

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  • 1. Taking advantage of existing platforms

 

Developing and evolving your own AI is a complicated, time-consuming method and needs a lot of financing. Many tech companies have open-sourced their AI efforts in an attempt to make AI reach more and more consumers. Taking advantage of this platform for your business saves you the necessary cost and time in development and designing. Some of the most popular AI platforms that your business could employ are TensorFlow (by Google), keras, Spark MLib, Caffe, fastText (by Facebook).

 

  1. 2. Small Start

 

AI competence cannot be achieved overnight. Driving the process while learning is definitely a destructive approach. SMEs need to start slowly and increase their AI efforts gradually over time.

 

Steps to attain progress in AI

  • Start by uniting first-party apps that promotes productivity of the previously engaged workforce.

  • Once ready, move your efforts towards open-sourced AI, cloud system and flexible workflow model.

  • Start with a small problem amidst a high probability of performing well and getting a positive return on investment (ROI).

 

  1. 3. Implement AI for analysis

 

The most important and necessary use of AI for small or even modest business comes at the time of the analysis. AI has opened new horizons in the field of analytics; By taking advantage of predictive analysis, one can grow their enterprise exceptionally.  

AI-powered analytics software will get your business intelligence at a throwaway price. Some of the best analytics softwares that can benefit your business are Amazon Machine Learning, H2O, Microsoft Onboard, etc.

 

  1. 4. Deploy Chatbots

Companies never had more engaging ways of interacting with their customers. Unlike companies that are able to maintain a 24-hour customer service line, a small business cannot pay operators to answer calls or emails whenever they arrive. Thus for them, chatbots play an essential role in the initial stage of the process.

Chatbots are an excellent place to get a quick return on your investment from AI. Their ability to interact and engage with customers, answers basic or complex questions. It helps SMBs to improve their customer experience and generate new businesses innovatively.

 

 

 

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