Should a Small Business Invest in AI and Machine Learning Software?

Anyone who follows recent trends of Artificial Intelligence( AI)  and Machine Learning (ML)  is aware of the fact that both of these technologies have made its presence inevitable in the field of entrepreneurship. Global businesses such as Amazon, Ikea, Google or Alibaba are leveraging the power of AI in their business and needless to mention that the ROI has always been excellent.

AI helps businesses by giving the edge they need, making better marketing policies, improve efficiencies, make sales and even help in critical HR functions. But this is a general perception that AI and ML are meant for larger companies and for small businesses it makes little sense to embrace such state-of-the-art technologies. But the fact is far from this general perception.

The Myth Buster: AI and ML for Small Business

AI or ML is neither very costly nor a very complicated technology which cannot be used in small business. Rather, we can say that Artificial Intelligence and Machine Learning for businesses which are small in size can ignite a revolution in return on investment and the way they work.

There are many different ways how small businesses can take advantage of AI and ML at the moment. Gartner predicts that “Artificial intelligence (AI) is increasingly making its way into the workplace, with virtual personal assistants (VPAs) and other forms of chatbots now augmenting human performance in many organizations.”

The research firm also adds that by 2021, 70 percent of organizations will assist their employees’ productivity by integrating AI in the workplace.

Research says that most of the organization will implement AI and ML in different forms in their businesses irrespective of the size of their businesses. If you own a small business and are wondering how AI and ML can help you then here we have got answers to all your queries. Let’s learn how your small business can leverage the power of AI and ML to increase productivity.

AI and ML Application for Small Businesses

Customer Service

Customer service is one of the most important aspects of businesses of any size. AI-powered smart assistants for customer service is worth investing in, as instant returns are near to obvious. AI-assistants are capable of interacting and engaging customers with answering basic & even complex questions. The route inquiries aptly allow businesses with limited staff to appear much more prominent while implementing AI in customer service.

AI also improves customer retention by providing 24/7 call center services. It can also process data at a lightning fast speed to come up with a quick solution to customer queries.

Understanding Customer Journey

AI in small businesses can help them to track and understand their customer’s journey on the website. Understanding the customer journey helps businesses to find any hidden flaws of the website as well as helps in creating a more personalized experience for customers.  Using such type of data and business intelligence can help boost the revenue of any business.

Revolutionize Human Resources

The human resource is one of those areas where AI has started to appear slowly. Though we can say that some of the human resources activities like candidate screening or employee communication don’t make any impact of the bottom line of the business but some other activities like hiring new employees is a great investment for any company. AI can help the HR department by screening thousands of applications so that most promising candidates can be selected in a short duration.

Moreover, chatbots like Talla can help a business by streamlining interviews by providing a set of questions based on the criteria of the role, hence saving a lot of time and effort of the interviewing team.

Automate Repetitive & Mundane Tasks

Businesses that use a dedicated sales team and uses tools like CRM, needs AI to speed up the workflow of the sales team. While using CRM software, sales representatives need to do some data entering tasks which are mandatory but often repetitive. Those tasks take most of the productive time of sales representatives. Integrating AI in CRM systems can help businesses with automating those repetitive tasks and making the sales team invest more time in communicating with customers rather than entering data into CRM software.

The AI age: Empowering small businesses with AI

While a few small businesses have already embraced AI and ML, some others are still taking a second thought on adapting AI in their businesses. Whichever way one may lean, this fact can never be denied that AI is the technology of the future. Such a futuristic technology can be a part of your small business by connecting interface.

interface builds platforms for AI-powered smart assistants that can help small business in various ways. AI-enabled Intelligent Virtual Assistants (IVA) of interface can make your life simpler and your businesses more efficient and profitable by implementing it in your small business. Click here to know more about interface.