It’s safe to say that technology is advancing at a blistering pace. We’re using artificial intelligence in many of our daily activities. From asking an Amazon Echo to turn down our lights to asking Siri for the weather forecast over the weekend, more and more of us are depending on AI for daily comforts and enhancements. With that in mind, it stands to reason that small businesses should be focusing more on embracing artificial intelligence.
Many big investors and philanthropists already know the worth of advancing technology and AI in the wider world. Alex Friedman, for example, took steps to embrace modern philanthropy through his work as the chief financial officer for the Bill & Melinda Gates Foundation. It’s also safe to say that emerging philanthropists following in Friedman’s footsteps are unafraid to embrace technology as it continues to evolve.
There are a few specific reasons why small firms should be looking to adopt AI moving further into the New 20s. Here are just a handful of them.
Smarter logistic control
If there is one aspect that modern retail and sales teams revolve around, it is logistics. Without a firm logistics strategy in place, small companies have no hope of stocking enough to appeal to their customers, nor to keep up with projected demand. Maintaining any kind of supply chain is difficult enough; however, in the modern age, demand is impressing hard on companies and industries all over the world.
AI can help businesses to keep more precise track of stock and to analyze what to expect from logistics in the long run. Retail firms, for example, are already setting up smart POS systems to automatically take stock of what’s in the warehouse. That means that businesses can make quicker, more refined decisions based on flawless data.
Smarter customer care
You may already have spoken to a chatbot online and may not have even noticed. Chatbots are, of course, the modern equivalent of self-service and self-care. That means visitors and potential customers through an e-commerce platform, for example, may ask a chatbot a question that they would usually pose to a human being.
This is an efficient process on both sides of the operation. A small business will be able to handle queries with little need for intervention. What’s more, they will be able to reduce the need for human support on the frontline. Freeing up as much physical support as possible, when running a small business, is crucial.
In addition, customers will be able to get answers to their questions more quickly and more smoothly, depending on the dexterity of the chatbot in question. Through a service as innocuous as WordPress, you can set up chatbots to respond to queries with stock phrases.
This form of AI is already changing the world of customer care, and what’s more, it is likely to persist in changing the way people approach and appreciate retail care in the future.
Freer, clearer communication
AI standards, whether through devices linked through the Internet of Things or otherwise, will also help to ensure that your team – and even your devices – are all on the same page. For example, logistics and stock automation will help warehouse and sales staff to ensure they are all working with the same data.
Small businesses running factory operations may benefit from AI reporting between systems and devices. Instead of needing to rely on manual, physical checks, an AI service could allow one system to report regularly to another. Machines these days can keep each other in check. Therefore, there will be no need for you to run costly, time-consuming algorithms or analysis programs to ensure everything is running efficiently.
With staff and systems all working to the same data, you can expect greater efficiency and smoother productivity, on the whole. As all small businesses will know, excessive administration has the potential to choke your processes.
Therefore, introducing AI into your regime may well be enough for you to achieve that all-important growth in the coming years.
Is there any kind of conclusion to AI’s benefits in the corporate world? Probably not. Therefore, it is essential to embrace the technology and the advances now before they are adopted in the mainstream.
Small businesses can, and should, take advantage now of even basic AI if they stand a chance of growing their brands and standing up to the competition in the years to come. Technology is going to keep evolving. Therefore, small businesses looking to ramp up in the New 20s really can’t hold back on this one.
Whether it’s through IoT or a simple POS interface, small businesses can start making huge, immediate strides to tackle the advancing needs of their customers.
Rehan Ijaz is an entrepreneur, business graduate, content strategist and editor overseeing contributed content at BigdataShowcase. He is passionate about writing stuff for startups. His areas of interest include digital business strategy and strategic decision making.