Over the last few years, artificial intelligence (AI) has quickly gone from a science fiction future to everyday reality. These days, it’s impossible to ignore AI-powered technology, and this is especially true in business.
Many people use AI daily because it saves time, but AI tools for small businesses can save you money. No matter what industry you serve or what types of products and services you offer, AI integration for small businesses can lead to substantial gains.
If you’re not sure how to benefit from implementing AI, below are some tips that you can start putting to work today:
Use Generative AI to Create
Generative AI is a term used to describe technology that can produce text, images, audio, and video. This is the type of AI most people think of these days when someone mentions artificial intelligence in general terms. Although OpenAI’s ChatGPT is one of the best-known examples of generative AI, Stable Diffusion, DALL-E, Midjourney, Eleven Labs, and more can all create media content in seconds.
For small business owners, generative AI can be used for all kinds of things to improve efficiency and cost savings. For example, you can use generative AI tools to draft blog posts to improve your company’s search engine optimization strategy or sure up your social media content by asking an AI model to create some post ideas.
Pitfalls and Perils to Be Mindful Of
While using generative AI can be a fast, efficient, and cost-effective way to go about content creation, there are some pitfalls to be mindful of. First, although generative AI seems like some sort of super-intelligence, it’s really only functioning like a very sophisticated prediction model.
There’s no real thought behind the content it creates, and instead, it only bases its output on its training data. While the result can be impressive, the technology is far from perfect. As a result, you’ll want to put your own spin on any AI-generated content you create.
AI Hallucinates Facts
Factual errors are common among generative AI tools, so don’t rely exclusively on the output of these tools alone. AI-generated content also tends to be sterile, and the repetitive output of many large language models (LLMs) can make it very obvious that your business uses AI to create content.
Additionally, the jury is still out on whether search engines or other technologies can detect AI-generated content. It’s entirely likely that watermarking technology will make AI-generated content easier to spot in the future, and relying exclusively on AI for content creation may cause problems with your search engine ranking down the road.
Copyright Concerns
There’s also the issue of copyright and whether or not AI-generated content violates copyright law based on the training data used in a model. This is a legal issue that is also up in the air, and precedence may not be set for some time. Be mindful of what you produce and how important it is to your business. For proprietary content, it’s generally best to create on your own.
AI for Analysis of Operations and Strategy
Although generative AI can expand your creative horizons and even offer a little bit of fun, generating a picture of a cat riding a unicorn while eating ice cream isn’t likely to do much for your business in the long run. Instead, you can use AI integration for small businesses to harness capabilities and functionality.
Using AI for Analysis
AI tools that expand capabilities include those that are good at analysis. These tools can analyze large amounts of data in a short period and can be thought of almost like an on-demand data scientist or research assistant. Instead of spending hours, days, or weeks combing through data and trying to put together reports, AI can analyze your data and provide a summary. This allows you to devote time and resources to more important tasks.
You can use these types of AI tools to complete an analysis of various parts of your business operations to see if there are areas where you can improve. For example, if you’re planning to offer a new service but want to create a tiered pricing strategy, AI tools can analyze your current sales and pricing, customer data, market, and more to help you narrow down the best approach to create your pricing tiers.
Use AI Chatbots for Customer Engagement
Nobody likes to be kept waiting, particularly when it involves a business transaction. While your business may not be open 24 hours a day or have representatives available around the clock, AI technology can help in the form of chatbots.
AI chatbots are interactive agents that can respond to customer service requests in real-time. Many small businesses place AI chatbot technologies on their websites where customers can access these resources day or night. Custom chatbots can be trained to include personalized data about your company, products, and services, making the experience of interacting with these AI customer service resources more enjoyable for customers.
Chatbots Aren’t for Everyone
Unfortunately, like generative AI, chatbots aren’t perfect and can make mistakes. They are also limited to their training data, so they won’t be able to answer all customer questions and may even respond in a manner that doesn’t represent your company’s values.
It’s also worth noting that some consumers don’t enjoy interacting with any type of automated technology, so it’s a good idea to consider your target market and how comfortable or savvy they are with technology before investing in AI chatbots. Instead of forcing chatbot interactions, you might consider offering this technology as an option instead.
Only Invest in What You Will Actually Use
Like with all technology advancements, there’s a certain fear of missing out (FOMO) that comes along with the hype. Business owners are often concerned that their competition will pull ahead by investing in newer technologies first, and this prompts some to make irrational investment decisions. Before they know it, they have a litany of technology on hand that never gets used.
Instead of worrying about investing in or transitioning to new technology just because it has AI baked into it, stop to think about whether your business can truly benefit from the touted AI features of a product. Artificial intelligence isn’t magic, and it can’t solve all problems. It can certainly speed up tasks and save time and money, but it can also become more hassle than it’s worth.
Take Things Slow
When adopting AI tools, it’s generally best to take things slow and integrate bits at a time. While the technology can be immensely helpful, you don’t want to bind your operations to products that may or may not be reliable in the long run.
The fact of the matter is that AI is still a new technology for the most part. This means that it continues to evolve, and certain limitations may exist that you aren’t aware of just yet. If you invest heavily into AI tools now while eschewing traditional tools, you may not find out until it’s too late that AI is not right for all aspects of your business.
Instead of rushing out to jump on the hype train, take the time to investigate any AI tool before implementing it too heavily into your business operations. While AI integration for small businesses is usually fine for repetitive tasks, more personalized tasks will likely still require the human touch. Before you get rid of your entire staff and cancel your subscriptions to traditional business tools, take some time to familiarize yourself with AI technology to see where it can be a benefit to you and your organization.
AI is Here to Stay
Whether you invest in AI technologies now or in the future, there’s no rush. These tools are fairly new, and advancements are coming with each passing day. It’s generally a good idea to investigate whether AI can benefit your business, but there’s also no need to rush into any decisions immediately.
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