Artificial intelligence has made some major practical progress in recent years, going beyond a mere theoretical concept. AI algorithms are making significant inroads into our day-to-day lives with smart gadgets, shopping apps, or assistant devices like Alexa. According to top entrepreneurs, this disruptive technology has helped even small businesses to grow, through intelligent optimization of resources. These days, artificial intelligence for small business is as much a reality as it is for big corporations.
A study by Gartner Inc. – the world’s leading research company – shows that 30% of global companies will implement AI by 2020 in one or more business processes. There’s no denying that what began as rule-based automation, is now changing the business landscape in a big way.
Businesses are witnessing real-time benefits of this revolutionary technology, as AI enables simulating human-like capabilities with increased speed and reliability. Any small or medium business can now leverage the potential of AI to streamline the business processes and reap greater revenues and profits. Here’s how –
Apply Artificial Intelligence To Streamline and Expedite The Manufacturing Process
The magic of Machine Learning or AI is best realized when streaming of massive data takes place at blazing speed from multiple databases.
Quick access to business-critical information facilitates real-time, actionable insights. This in turn, ensures seamless continuity of the manufacturing processes.
AI-powered recommendations help manufacturers predict failures, reduce downtime, and create benchmarks across varied product lines.
A data-driven, dynamic manufacturing environment improves yield and heightens customer satisfaction.
Try AI For Supply Chain and Logistics
When it comes to managing logistics and supply chain, Artificial Intelligence for small business delivers best result.
AI, combined with data and analytics, eliminates a conflict between different processes. This empowers enterprises to act on relevant data, which drives improvement throughout multiple areas of logistics and supply chain operations.
Over the next three years, the term “business days” will go out-of-date, as consumer demand for shorter delivery time increases.
Integration of AI into supply chains and logistics is the most effective solution to counter this challenge.
Opt for Artificial Intelligence to Boost E-commerce Business
Rapid development in machine learning technology makes artificial intelligence available to enterprises of any budget or size.
For e-commerce businesses, AI algorithms are boosting the competitive edge like never before.
Machine learning and artificial intelligence software now aid automatic labeling and visual search of content from the uploaded imagery. This eliminates the hassle of manually tagging online content.
AI’s visual capabilities are witnessing significant improvement with each passing day. Needless to say, these capabilities will become more advanced, and it will help shoppers to find the products they want by its brand, size, shape, or color.
Improve Workplace Communication With Artificial Intelligence
Efficient and effective communication is crucial for today’s small and mid-size business ecosystems.
Artificial intelligence for small business improves both internal and external workplace communication through intelligent personalisation. This ultimately promotes increased focus and enhanced productivity.
With such personalisation, professionals will receive suggestions on next-best-action, which will help them manage time without extra effort.
In addition, AI-powered virtual assistants will take care of mundane, repetitive tasks, by understanding specific business needs and goals.
Artificial intelligence, in the long run, will speed up innovations via improved workplace communication, providing employees with a clear overview of their tasks.
Protect Sensitive Data With AI-Driven Intelligent Cybersecurity
Although AI algorithms are not always effective in addressing cyber-security issues but artificial intelligence in data protection remains a huge success.
The new-wave technology performs well in detecting anomalous behavior and vulnerabilities in financial systems and business applications, such as ERP.
Even if attackers penetrate a system, AI identifies the suspicious activity, and takes necessary actions, thus preventing serious damage.
Simplify Human Resource Management With Artificial Intelligence
Artificial intelligence is transforming every aspect of HR, starting from recruitment to human resource development, and management.
In the coming years, machine learning and AI tools will take care of HR elements like time-consuming paperwork, laborious data entry, and burdensome screening tasks. Definitely this will help free quality human time.
As automated recruiting becomes the new normal, HR professionals will have free time for personal interaction with recruits, which will improve their capabilities to a great degree.
Machine learning and artificial intelligence disrupt the 200 billion dollar recruitment industry in a big way, said Gal Almog, CEO of AI-based recruitment software, Talenya. According to Almog, AI algorithms now automate the recruitment process by matching potential hires to the best job, thus decreasing the time-to-hire by 50 percent.
As per latest statistics, around 25% of startups fail because they cannot find suitable candidates. Now that artificial intelligence for small business will play a key role in simplifying human resource management, this will surely help startups find the right talent.
Realize the Full Potential of Artificial Intelligence For Small Business With AI Chatbots
AI-powered chatbot is the latest buzzword in the technology space.
In simple words, a chatbot is an AI software that can simulate conversations with a user through websites, mobile apps, or messaging applications.
As artificial intelligence technology advances at rapid pace, this will boost chatbot applications in businesses, especially healthcare and gaming.
The role of chatbot is, however, not limited to chatting with humans. Chatbots also facilitate the automated collection of user data.
Powered by AI techniques like Natural Language Processing (NLP), chatbots generate scalable, live data over chat, fueling machine learning.
The analyzed and processed data predicts human behavioral patterns almost accurately. This helps in providing actionable insights to amplify decision-making capabilities.
Supported by tech-giants like Apple, Facebook, and Google, AI chatbots are witnessing a high demand in recent times.
Are you a new and aspiring entrepreneur, dreaming to take bigger players head-on? Now that so many AI tools are readily available for small and medium businesses, the time is right to leverage the full potential of artificial intelligence for small business. Take the step and take your startup to the next level of success!
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Anirban Mukherji has been in the content creation industry since 2013. His passion for helping small online businesses streams in the form of new ideas and strategies that translate into a formula for success. Besides writing content for small enterprises, Anirban also creates SEO-friendly pieces for institutions of all sizes. Connect with Anirban on Facebook.