Small businesses are currently using artificial intelligence (AI) in many ways to improve efficiency, customer response, and enhance overall outputs. Businesses that employ AI know they can save time and decrease internal costs. The continuous changes and enhancements of AI translate into useful resources across every industry. The results are present in areas such as cybersecurity, fraud management, content production and customer support.

Key applications can be found under the following areas:

  • Customer Service: Improve website or social media response (sometimes 24/7) in customer support, response to everyday inquiries, and will help free up employees to care for more complicated matters.
  • Marketing Automation: AI tools help analyze data to create targeted marketing promotions, personalize email campaigns, and optimize advertising investment by identifying and implementing effective tactics.
  • Inventory Control: through AI tools business can predict inventory needs via sales trends, seasonal demands per product, and reduction of excess stock.
  • Sales Forecasting: Some of the algorithms used by AI tools can help predict potential sales based on historical numbers, allowing more accurate budgeting and planning. Businesses selling via e-commerce use AI to determine product recommendations based on customer preferences and acquisition behavior.
  • Social Media: Some posts can be scheduled at future dates, analyze engagement efficiency, and possibly suggest content for topics based on trending conversations.
  • Fraud Detection: To detect unusual patterns and flag potentially fraudulent activities, businesses use AI to track transactions in real-time.
  • Cost Cuts: Significant cost savings can be passed on to the business by reducing manual labor and minimizing errors by automating daily and ongoing tasks with AI tools.

When a small business is open to incorporate new tools and acquire knowledge and technologies that are able to transform their enterprise, improve their operations, and learn new applications then they will be ready to make better strategic decisions for the business. There is no need to be a data scientist, software engineer or even have a technology background. These tools are used by managers and executives to analyze, incorporate, implement, and articulate key insights with their teams and within their organizations.

-Rosy McDonough, Executive Director