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AI for Business

3 Things to Know

I've observed the following in working with small businesses lately.  Occasionally I hear "AI technology seems pretty useful for big companies that can afford it."

Others say something like “How do I get my hands on the really cool AI stuff?”

Here are three things I think small businesses should know about AI:

  1. While the belief that AI is solely for big corporations due to cost and expertise may be common, affordable AI tools cater to small business needs, enabling task automation, data analysis, and enhanced customer experiences without exorbitant spending.  Many useful tools are under $30 per month.  In fact, many of the tools you already use have AI incorporated into them!  Pretty sneaky, huh!  So, using them costs nothing more, just tap that new AI-related button you may have recently noticed (depending on the tool).
  2. Although it may be affordable, that question about getting your hands on the really cool AI stuff, may be the wrong approach.   Small businesses should avoid adopting AI solely due to trendiness. Identifying areas where AI adds value, such as streamlining operations or personalizing interactions, ensures meaningful returns.
  3. Some AI tools will help you with tactics, and others will help with strategy.  I recently used a free AI tool with which we are all familiar to identify possible strategic expansion locations for my business.  The tool?  One all of us are familiar with, ChatGPT.  Strategic growth requires knowing the direction to go and the right questions to ask for insight that will help you move that way.  Ask the right questions.  That is the key - both with ChatGPT and strategic decisions.  

As a disclaimer, I must also caution that you should double-check the answers you get. AI may be more efficient, but there is still something to be said for the human brain :-)

Now, if you want to ignore the advice in item 2 above, or just kill some time exploring what is possible, search for (or ask Chat GPT) for a directory of AI tools for Small businesses.  You'll probably find some fun directories like this one from Futurepedia.

AI for Business
Alan Christensen March 13, 2024
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