We’re living through what the World Economic Forum has called ‘The Fourth Industrial Revolution’, and artificial intelligence (AI) is one of the formative technologies of this revolution.
AI is no longer the stuff of science fiction. AI solutions and business tools are here right now, demonstrating new ways to operate, manage and staff your small business.
So why are half of all Australian and New Zealand businesses not yet using AI? And where could AI be lending a helping hand in your own business?
Keeping pace with the speed of technological change is a key responsibility for any business owner. If competitors are using AI to gain efficiencies and streamline their operations, it stands to reason that your business must match this innovation and find ways to embrace AI.
But, as with any technological or software investment, there has to be a fundamental role for the new AI tools you take on. ‘Going AI’ just to be seen to be at the cutting edge, is not the goal here. Your aim is for AI to have a function and to make your life easier.
Here are five areas where modern AI tools can help the average small business:
#1 Answer customer calls and improve customer service.
Fast responses to customer queries are essential for good customer service. AI-powered phone agents, like Lucy from Curious Thing, can have human-like conversations with customers, answer routine customer enquiries and free up your team to focus on high-value customer interactions.
#2 Record and summarise meetings.
Pulling out the key points from in-house and customer meetings can be time-consuming. A tool like Fireflies records your in-person and online meetings and then forwards you an AI summary of the meeting, with bullets of the key themes, a full transcript and clear action points for everyone to follow.
#3 Speed up your marketing content creation.
Generative AI tools, like ChatGPT and Google Gemini can revolutionise your marketing efforts. Ask AI to draft you an email campaign, sales deck or web page, based around your foundational knowledge of the product. But make sure to edit and personalise the output to make it your own.
#4 Automate your social media posting.
Being present on social media is vital for brand awareness and connecting with customers. A social media tool like Buffer helps you manage your social media accounts while also using the built-in AI tool to generate posts and repurpose existing posts, keeping your feeds fresh.
#5 Manage HR and employee performance.
Managing the objectives and key results (OKRs) for your team can be a challenge. With an AI tool like Peoplebox, much of the goal setting and performance management can be automated, helping you keep everyone on the team focused on the same goals, while you focus on the business.
The world of business-focused AI solutions is growing at a fantastic rate, so the suggestions above are just the tip of a very large AI iceberg.
The team at EMspire Advisory are trusted, qualified Chartered Accountants, tax agents, and small business accountants. We work closely with our clients to achieve the best possible outcomes. To find out more, please contact us!
Please note that this information is not specific and is general in nature and cannot be relied on as advice. Please contact us for advice specific to you and your circumstances.