Business

How AI Innovations Are Helping Small Businesses

small businesses

When small businesses hear about artificial intelligence, which is popularly known by its acronym AI, then their usual response is of indifference and dismissal. They consider it a futuristic technology, one that’s perhaps meant for only computer scientists and large enterprises like Microsoft, IBM, and Google.

However, nothing could be further from the truth. This is because AI has become far more accessible and affordable than it was before. In fact, the developers of AI applications want their products to be used by companies of all sizes- small, medium and large. In this blog, we take a look at some innovations in AI technology that are helping out small businesses across the globe.

1. Chatbots

Perhaps, the simplest and most effective application of AI for small and big businesses today is none other than chatbots. In fact, numerous websites are already using intelligent chatbots to enhance customer communication, collect valuable customer data, and answer commonly asked questions 24/7.

Since most small businesses don’t have full-time customer support executives, they can install chatbots on their websites to offer a premium customer experience without breaking the bank. They can also make their business bigger by taking the form of a brand rather than a generic company.

2. Graphics Design

Ask any marketer worth their salt, and they will tell you that in marketing, visuals are everything. When a product is introduced in the market, the people judge it by its appearance, and the quality/features come after. In the same way, how your website and other visual assets look is important if you want to expand your reach.

Today, if you can’t afford a professional graphics designer, then you can take help from AI tools like Tailor Brands. It’s an AI-powered online tool that allows you to create premium-quality and original logos in a matter of minutes. All you have to do is tell the program what kind of logo you want in terms of colors, style (wordmark, brandmark, letter mark, etc.), font choices, etc. and it can create the perfect combinations of different elements to create beautiful logos that meet your requirements.

3. Sales Training

A large number of small businesses rely significantly on their sales teams for revenue generation. Naturally, if they are able to train the team without spending a lot of money, they can easily increase the profits in a short period. This is again where AI tools can help. For instance, we have products like Chorus that are designed to record and transcribe every single call a salesperson makes. This is possible with the speech recognition functionality of AI which is also one of the top AI technologies. This allow them to monitor their performance and share their strategies with one another. The successful sales reps can share their records with others so that they can learn from them rather than go through an arduous trial and error process. It’s also quite cost effective too.

4. Threat Aversion

Small businesses are as much susceptible to expensive litigation attacks as the big ones. So, if you want to prevent potential lawsuits, then you can use a tool like Intraspexion. It’s an AI tool that can alert you against litigation risks by constantly monitoring your company’s communication channels. It can scan the company’s internal emails and point out potential litigation risks that you can eliminate before things get out of hand.

Bottom Line

If you have made it this far, then you know that AI is indeed one of the most profitable technologies of the current generation. Moreover, it’s not as inaccessible as many people think. So, if you are a small business owner looking to take the company to the next level, then perhaps it’s the perfect time to look into the various AI tools that you can use today.