Artificial Intelligence: It’s Not Just For Big Companies

Artificial intelligence (AI) is not a replacement for human intelligence and work. It is a beneficial tool that can help support and assist the daily operations of companies. Implementing AI helps companies achieve fewer errors, increase customer satisfaction and improve business efficiencies.

If you have a small business and are unsure about using AI or believe it’s only beneficial for large corporations, you may need to shift your perspective. AI can benefit businesses of all sizes and be incredibly impactful for small companies. AI is also not as expensive as one may think. Business can benefit from a variety of affordable AI solutions. If you have a small business and don’t think that artificial intelligence will benefit your bottom line, here are 5 reasons that will change your mind.

Improves Customer Service

Providing immediate responses to customer service inquiries can be a challenge for many small businesses. Installing chatbots allows for a limitless amount of customer engagement and availability. Chatbots can answer queries 24 hours a day, seven days a week. In addition, these bots typically respond to customers’ questions more swiftly than human agents can. From scripted responses to deep learning virtual agents, chatbot AI add-ons will increase overall efficiency and customer satisfaction.

Increases Personalization For The Customer Journey

When you understand your customer’s journey, there are ways to shorten the time between awareness and action-taking. With the guidance of AI, you can intimately tune into your customer’s specific behavior patterns, such as purchase decisions, response patterns, or cross-channel actions. Using AI, you can compile this data for a more detailed analysis of your customer audience within the market. Armed with this data, your business can build strong and personal targeted marketing campaigns to increase customer experience, interest, and conversions.

Beefs Up Cybersecurity Measures

Small businesses are increasingly vulnerable within the digital space and must have security measures in place. A Verizon study completed in 2019 indicated that small businesses were the number 1 target for criminals and hackers and represented almost half of 2019 data breaches. As a small business, you are not exempt from potential hacking or security threats. No matter what your size, you must stay vigilant against digital threats and protect yourself and your customers.

Implementing AI for cyber security will automate your security measures and add an additional layer of cyber protection to your business. AI can identify threats early, prevent credit card fraud, prioritize risk, and immediately spot any malware or suspicious data on your network. Using AI to beef up your cybersecurity will stop malicious intent before it starts.

Improves The Hiring Process

According to a Glassdoor study, on average, a corporate job offer attracts over 250 resumes. Once these resumes are received, the hiring team needs to vet each candidate, schedule interviews, and more. This process can take a very long time and be quite costly for the hiring company. To simplify your hiring process and save time and money – invest in AI tools. From customized facial recognition AI applications to applicant tracking systems (ATS), utilizing AI for the hiring process will help your company quickly reach, attract, identify, and hire the best candidates for the job.

Keep Your Accounting In Check

Businesses rely on cash flow to keep afloat, and in a small business, that cash margin can be extremely tight. Keeping accurate accounting and establishing efficiency within the financial process can be a challenge. Introducing AI into your business’s accounting can help streamline and assist with much of the repetitive paperwork needed to keep the books. It also helps eliminate human error, which can be catastrophic if a mistake is made within “the books.” Using AI for your finances, you will be able to streamline, automate and organize your business expenses and realize your profits.

From improving customer service to tightening up your cybersecurity, you can find a use for AI within almost every aspect of your business operation. While AI is still more popular with larger businesses – that shouldn’t stop your small business from using this incredible software. AI is the future of online businesses, and it has the capacity to assist your small business – almost across the board.

Grow Your AI With Flint Hills Group

Our experienced team at Flint Hills Group can create custom solutions that include AI. We know how artificial intelligence can benefit your small business, and we are ready to develop the solution to best help your business. From incorporating virtual assistance to creating custom analysis tools – we have the skill and experience to build sophisticated programs that will tackle your small business needs. View this application we developed with AI, or contact us today to learn more!