AI software has the power to transform business processes and unlock new opportunities. These opportunities can make small businesses more competitive and better prepared to secure positions in their markets.
But what exactly are the business benefits of AI in small business? Let's dive in.
What is artificial intelligence (AI)?
In 2004, John McCarthy of Stanford’s Computer Science Department defined artificial intelligence as ‘the science and engineering of making intelligent machines, especially intelligent computer programs. It is related to the similar task of using computers to understand human intelligence, but AI does not have to confine itself to biologically observable methods."
Though in the decades before this publication, most associated the notion of artificial intelligence with the pioneering work of Alan Turing who published Computing Machinery and Intelligence in 1950 and asked the famous question “Can machines think?” The Turing Test would come to signify the gold standard resource for evaluating the ability of a computer and human to communicate
Stuart Russell and Peter Norvig would eventually publish "Artificial Intelligence: A Modern Approach," a computer science textbook that would become tremendously influential in the development of artificial intelligence research and the human and ideal approaches to AI.
Human Approach:
Systems that think like humans
Systems that act like humans
Ideal Approach:
Systems that think rationally
Systems that act rationally
At its core, artificial intelligence is a field of computer science that combines an ever-expanding array of techniques to manipulate larger and more comprehensive datasets to enable problem-solving activities. AI is also a subfield of machine learning and deep learning. These emerging areas of inquiry use AI algorithms to develop expert systems for making predictions or classifications based on different data imputed into the system.
Businesses have always sought to use intelligence about the observable phenomenon to leverage competitive advantages. AI solutions for small businesses offer the ability for businesses of all shapes and sizes to tap into the immense power of AI to unlock opportunities and drive success.
What is AI for small businesses?
AI tools for small businesses provide rich and nuanced interpretations of the micro and macro phenomena driving success. In this way, AI solutions for small businesses unlock the ability to use data in a much more dynamic and powerful way. AI allows small businesses to laser-focus their efforts to reduce bloat and focus attention and investment where it matters and on the activities that are leading to measurable success.
Develop a more holistic view of past market conditions to promote a more robust and responsive sales strategy based on past performance.
Create more detailed user and customer profiles that allow marketing and sales teams to deliver even more person-specific messaging and experience opportunities.
Streamline business operations using automation to remove excess and optimize performance along with every touchpoint in the value chain.
Conquer uncertainty by unlocking diagnostic insights about business that propel game-winning decisions.
How are AI solutions for small businesses used?
AI solutions for small business are used in every department imaginable offering benefits to human services, customer services, sales, marketing, procurement, manufacturing, fulfillment, finance, management, and more. There are applications for implementing AI-powered solutions to generate real business value in every area of your small business.
AI tools are business process automation tools and that means being able to leverage more firepower where it counts and achieve more with less. This allows for simple and repetitive activities to be phased out in favor of reliable workflows that save your organization time and money.
Small businesses use AI to leverage the full potential of the data they are generating daily. Information about customers, suppliers, competitors, challenges, opportunities, and risks can all be analyzed using artificial intelligence-powered tools and cloud-powered applications.
How can your small business get started with AI?
Teamworks delivers a complete solution for implementing artificial intelligence to improve small business operations and generate tremendous cost savings. By optimizing business performance, your company will be positioned to succeed today and long into the future.
Let us know we can help your small business achieve more. Get in touch today to learn more about how to use AI solutions for small business.