With time, AI has evolved as a technology that delivers scalable results to Small Scale Enterprises or SMEs. Quite impressively, Artificial Intelligence has garnered a lot of trust with time. What’s more, some prominent names like Bill Gates and Elon Musk are quite vocal about the applications of AI and the way it positively impacts industries. While large-scale enterprises have long begun using new technological platforms like artificial intelligence and machine learning, SMEs are still wondering whether to use them or not. On the other hand, AI is being deployed extensively in smartphone apps to solve real-world issues.
SMEs can take advantage of AI-powered mobile apps to fine-tune their business processes. Moreover, the rapid integration and adoption of AI technologies depict that they cater to the increasing business needs of organizations. From self-driving cars to Apple’s SIRI, a new dawn of AI is already upon us.
Currently, the business environment looks well-regulated with the systematic use of AI in various business processes. One of the critical highlights of AI is its integration with applications. If you are an SME looking forward to making a mark, AI-powered apps are all you should have. It is intriguing how the application development ecosystem has entirely changed with the introduction of artificial intelligence and machine learning.
In other words, AI enables you to emphasize customizations based on the personal preferences of your customers. So let’s take a glance at the significance of AI in influencing the business processes of SMEs. Alongside, we would also discuss its application in solving real-world issues via mobile applications.
Significance of Artificial Intelligence for SMEs
The primary scope of AI is to help your organization gain a competitive edge among others. Quite interestingly, small businesses should implement AI as it tends to enhance the performance of the enterprise, reduce costs and automate the processes related to customer management.
Another area where AI triumphs over others are it provides you with insightful, actionable data. In simple words, you would be able to data-driven decisions with the help of AI, which can further streamline your organization’s business processes.
Despite various strategies, the main aim of AI remains simple and straightforward. For small businesses, AI provides your business with adaptive and interactive solutions based on the needs of your customers. With AI-powered mobile apps, small enterprises can meet customer requirements adequately.
What’s more impressive is the fact that AI-powered mobile applications will help in the execution of routine tasks like scheduling business meetings and answering the queries of customer requests.
As AI is a predictive form of technology, it can readily fine-tune your marketing campaigns. Also, AI would help you much with a thorough assessment of customer-buying behavior. So with these things in mind, let’s take a glance at some of the ways in which AI can help small enterprises.
AI Enhances Marketing
One of the critical areas where AI can make all the difference for small enterprises is marketing. Note that AI would help you develop advanced applications which would help with the collection of insightful data. AI-based marketing apps can also help with the stimulation of the overall efficiency of the campaigns.
The applications developed with AI would readily assist you with tailoring the marketing campaigns as per the preferences of your customers. The AI-based models and concepts present within the application would also help you with the effective management of marketing campaigns across various channels like Facebook, Google, Instagram, etc. Furthermore, it also automates bids and keeps a tab on the entire marketing spend.
Aids You With Forecast Marketing
It is a commonly observed fact that marketers require to collect, maintain and assess vast data chunks. When you deploy AI in your business processes, it can help you with the correct assessment and maintenance of data. What’s more, AI also automates the entire data analysis techniques that are a boon to small enterprises. The AI-powered apps would help you research your target audiences and design campaigns based on the insightful data.
AI Provides Better Customer Engagement
Quite interestingly, customer engagement is one area where SMEs usually struggle a lot. In case you don’t know, if you cannot engage your customers properly, there are chances that you would lose customers. With AI, you can develop chatbots that can help in proper customer engagement. Chatbots can function 24/7 and help you to engage your customers in an appropriate manner.
Chatbots would also help you with proper user engagement. On the other hand, AI would also help in the overall boosting of revenues. Artificial Intelligence can also help small enterprises to organize the inquiries placed by the customers. This strategy can reduce waste times for your users, looking forward to swift responses and basic queries.
As you can see, Chatbots are conversational. In other words, Chatbots can help your customers stay engaged even when you don’t have a dedicated customer service department in your company.
The AI chatbots infuse a feeling that you are chatting with a real human being. In other words, you wouldn’t have to maintain a dedicated group of customer service representatives to engage your customers. AI chatbots would help your SME to stay on the right path to customer service.
AI Integrates Seamlessly With Customer Relationship Management
A majority of CRM platforms out there use AI to fine-tune their modules. In other words, AI integrated with CRM can take customer relationship management to new levels of success. It is worthwhile to note here that this approach provides excellent insights, and you can carry out critical organizational operations to retain your customers.
As mentioned earlier, AI helps with big data management and analysis. It also automates marketing and lead generation. So if you are an SME, you can readily deploy AI-powered CRM applications in your business ecosystem. As the whole department would be automated, you don’t have to invest in human labor.
AI-powered CRM apps can also provide predictions based on the processes of your business and customer data. Let’s cite an example in this regard. AI can help you to analyze the sentiments of the customers in social media posts. It also has the ability to scrutinize product reviews and compliant emails to provide you with feasible solutions. So as you can see, AI as a technological platform can be a game-changing prospect for your whole organization.
AI is the Future for SMEs
There is no denying the fact that AI supports human beings by decreasing the amount of manual work. For an SME, the main concern is always capital. And when you deploy AI, there are greater possibilities of falling human labor which in turn reduces the investment of the capital. In other words, you don’t have to pay people as AI automates the whole business operations. AI can also help with the tracking of your competitor’s activities.
From the aspects discussed above, AI is no doubt altering the business landscape. It is bringing in new changes, and thus organizations must adapt accordingly. If you have a small business and looking forward to gaining recognition and a higher profit margin, using AI-powered apps would be an ideal choice.
Prashant Pujara is the CEO of MultiQoS Technologies Pvt. Ltd., a leading website and mobile app development company specialized in android and iOS app development. He has more than 10 years of experience in software development, focusing on mobile app development for all kinds of platforms, including iOS and Android.