4 Small Ways SMEs Can Benefit From AI Technology

4 Small Ways SMEs Can Benefit From AI Technology

If artificial intelligence isn’t associated with corporations like Google and Uber, it’s linked with destroying the world. Either way, it isn’t an investment small and medium-sized companies should consider anytime soon. There are other, less apocalyptic issues to consider too. AI is in its infancy which means it’s expensive and hard to integrate without a bottomless budget. There are also bandwidth problems as companies need huge reams of data to train and install AI tech properly. On the whole, it’s a waste of time unless your name is Apple and the logo has a chunk missing.

Or, is it?

Chatbots For Customer Service

One area which benefits from AI is the customer services industry. Businesses have to react as quickly as possible to provide the best experience or else consumers bounce. Even worse, they bad mouth an SME all around town and drag its reputation and good name through the mud. A chatbot, the pop up which appears when you land on a page, is a cheap, effective and suitable solution. By answering questions quickly and in line with company policy, shoppers can converse without wasting time. Better yet, chatbots don’t have annoying automated voices. Digital Genius is a leader in this area for companies seeking a contact.

Customer Relationship Management

Also known as a CRM, this is the system which compiles and analyzes data provided by the customer. In recent years, Big Data has morphed into a behemoth of the industry as the answers lie with the info. All you have to do is find it, extract it, and put it into practice. Sounds easy, right? No, it doesn’t, and it isn’t. The good news is that software such as Einstein AI exists to solve this very problem. With a CRM integrated with AI, sales teams can uncover the subtext within conversations and interactions. For example, it can evaluate sentiments in a phone or email back and forth.

Readymade Solutions

Pretty much any element of the business that involves data is AI-ready. What’s more impressive is the time it takes to incorporate the software and hardware into the business plan. Due to technology such as Monkey Learn, companies can review customer feedback and product data on the same day. And, they can create reports with valuable information regarding future moves. Calibration services are a must, though, as artificial intelligence is only as good as the software/hardware. Outdated tech will negate the entire strategy.

Artificial Marketing

Certain areas of business require special skills and expertise to encourage success. Marketing is one such sector, and it often gets outsourced as a result. Why take the risk with something so important when professionals will do it for a small fee? AI has eradicated the hazards implicit with marketing thanks to its sophisticated algorithm. Today, Acquisio can effortlessly manage and analyze multiple platforms. And, provides industry-standard advice on how to proceed. In some circumstances, it will adapt a plan to fit the needs of the business.

The question still stands: is it a waste of your time, or is it a precious resource for SMEs?  

Featured Image from Shutterstock

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