If you know how to tailor an AI program, any small business can expect to see gains in certain areas. This is what Essex-based business guru Adam Scott has pointed to in his praise of My Instant Business (MIB). He says that SMB owners are “wearing ten hats at once,” but MIB can step in to do some of the heavy lifting, particularly when it comes to marketing and CRM.
This is just one of the AI offerings and use cases that small businesses across Essex could utilise. So here, we’ll explore some of the other applications of AI for small businesses as well as some examples of where a tailored AI program could be deployed.
Applications for SMBs
Creativity and thinking outside of the box isn’t where AI can help, so those looking for industry-breaking business plans are better off drawing up their own word clouds to get started. One of the most powerful functions of AI is its analytical side, where its statistical searches and crunches can save a lot of time. If fed the right data, AI can quickly analyse customer behaviour and preferences and then make predictions for future trends.
Data analysis like this can help with assessing stock needs and ideal times to put on sales, but it can be at its most useful in advertising and marketing. These arenas cost money to commit to and, in many instances, don’t directly relay the exact impact of adverts, for example, on each potential customer. You do get more data in online advertising with the biggest platforms, but refining the approach from the data is key – and can be assisted by AI.
Further, artificial intelligence can be deployed to assist with the customer service process by potentially answering more straightforward questions swiftly without taking up the time of a knowledgeable agent needed elsewhere. AI could also be used to help detect and prevent security breaches once integrated into a cybersecurity program. Lastly, the more time-consuming tasks like scheduling and data entry could also be handled by an AI system.
AI Assistance in Action
AI can be used as a tool, but to maximise its returns, some will need to change their practices in a more substantial way. Right now, you can see some businesses working in ways that could be enhanced by AI, particularly in marketing areas. You could look to an extensive casino promotions page that’s loaded with offers for new and existing players. The page features everything, including prize draws, free spins, daily free wheels, and more.
Right now, this is all here to make the appeal of these special offers as broad as possible. All kinds of preferences are covered by the selection so that anyone who visits can find something that appeals to them. Were an AI program to be deployed to a similar marketing effort of many options, the process could be refined. It could analyse customer behaviour and preferences to then deliver personalised offers to each.
This personalisation approach has the most potential to generate sales. Building business efficiency, as laid out above, can be a game-changer, but enabling a more personalised connection to customers will have a greater impact on the big numbers that everyone focuses on. Wayfair is already using AI to do this. Here, the program determines which customers are more persuadable based on their browsing histories, and then shows them items.
Small businesses can benefit greatly from incorporating AI into their everyday processes, but it’s always important to ensure that the program is tailored to your particular firm.
