6 Areas Where Small Businesses Are Using AI To Drive Efficiency

Artificial intelligence (AI) has typically been the domain of large enterprises with the resources to invest in complex technology infrastructure and hire trained computer scientists. 

Things are changing, however. A growing number of small and medium-sized businesses are leveraging technology that mimics human intelligence. As a result, they are streamlining a host of tasks that would otherwise require input from members of staff. The range of tools and apps designed specifically for smaller organizations has steadily been increasing. 

In this post, we’re going to look at six important ways small and medium-sized businesses (SMBs) drive efficiency and boost profits using AI. 

1. Automation of Routine Tasks

Automation can save hours of employee time, especially when it comes to routine tasks. Increasingly, essential apps, such as small business accounting software and customer relationship management (CRM) solutions, offer built-in automation features which take care of everyday, must-do processes that would normally require manual inputs.

Artificial intelligence has significantly broadened the range of tasks that automation tools can undertake. Some apps leverage machine learning and chatbot client interactions to complete complex and non-linear jobs. This trend of increasingly competent and reliable automation is likely to continue into the future, and small businesses will continue to streamline more time-consuming processes. 

2. Chatbots

A “chatbot” is a computer program that can simulate human conversation. Users interact with chatbots, usually through a mobile or desktop messenger, to complete a wide array of tasks, from submitting support tickets to changing delivery dates and more. 

User-friendly apps, which are aimed squarely at small companies, allow businesses to build custom chatbots without any development knowledge. These chatbots can then run on popular messengers like Facebook and Instagram or the company’s website. 

A dual approach, which incorporates both artificial and human interaction, is usually taken. Often, the main benefit of chatbots lies in their ability to filter and direct customers to the most relevant support person. 

3. Personalization

Research shows that personalization can increase both revenue and long-term customer satisfaction. Given a choice between a brand that provides personalized experiences and one that doesn’t, consumers will usually opt for the former.

Personalization “engines”, which collect and interpret data about customer behavior, are mostly used for marketing. Online retailers, in particular, are using personalization to make tailored product recommendations, offer individual promotions, and send unique content designed to appeal to specific segments.

Even companies that don’t have a large online presence can use artificial intelligence tools to personalize emails, in-person services, loyalty discounts, and more. 

4. E-commerce and Online Retail

Artificial intelligence has enabled many smaller online retailers to provide high-quality customer experiences that match big-name brands like Amazon, Walmart, Apple, and so on. These AI tools are often offered as part of inexpensive ecommerce packages by well-known providers like Shopify and WooCommerce. 

Personalization, which covers product recommendations, individual discounts, and ad retargeting, is one aspect of E-commerce. Artificial intelligence has impacted other areas as well. It is now possible for customers to virtually sample products with augmented, three-dimensional visualizations. AI can also automate and improve product categorization and tagging, boosting search engine results and making it easier for shoppers to find products.

5. Deep Analytics

In the past, small companies that wanted to use data to inform key business decisions and processes faced a problem. While customer data was usually available, organizing and interpreting it to generate meaningful insights required technology and expertise that simply wasn’t affordable. Even popular, relatively user-friendly analytics platforms like Google Analytics were difficult to use without proper training. 

Nowadays, however, small companies have access to a range of analytics tools that run these essential processes in the background. Instead of having to crunch large datasets, it’s possible to download customer behavior reports and forecasts at the click of a button - See Apromore, for example. These reports contain actionable insights that can be implemented immediately.

6. Logistics and Deliveries

Artificial intelligence has permeated nearly every aspect of traditional logistics and delivery practices, from factory management all the way through to delivery. “Smart warehouses” rely on advanced computer programs to track, organize, ship, and restock inventory. Furthermore, these applications also pinpoint inefficiencies and make suitable adjustments, leading to more cost-effective and faster warehouse administration. 

AI-based tools can also be used to process customer purchases, identify the cheapest shipping options, and provide updates during transit. Notably, many of these programs are designed for non-enterprise warehouses and supply chains. 

Conclusion

Small businesses often lag behind major technology trends. In most cases, enterprises are the first to adopt and test innovative software. If it proves effective, others start to take notice. Artificial intelligence is now at this stage. Its power to streamline workflows and drive greater levels of client satisfaction has been proven time and again.

What’s more, small and medium-sized companies have access to an array of easy-to-use apps that allow them to take advantage of artificial intelligence. Organizations that fail to adopt these tools run the risk of losing customers to competitors and will needlessly sacrifice sales and revenue. Now is the time for SMBs to commit to building robust, AI-driven technology infrastructure.