Artificial Intelligence (AI) has been a major topic of discussion over the last half decade but during the last year, AI has truly become mainstream as almost every industry embraces the technology in some capacity. The image of AI’s impact on society is far reaching but are there actual real world advantages to the technology for business? With mainstream adoption increasing and economies of scale, AI based technology is becoming much more accessible to any sized business, especially in the realm of small business. Owners and managers involved in small business know all too well the many hats they have to wear. From marketing to sales to operations, owners and leadership can play several roles. AI can help small businesses with those ‘hats’ as task automation is one of the core strengths of the technology. Three key areas that AI technology can help out in happen to be the most time consuming but are still vital to the success of the operation.

Frontline and Offline Customer Service

For most small businesses, customers provide the main source of revenue and successful interactions with those customers is crucial in generating sales and profitability. In fact, the very first interaction with a customer could ultimately set the tone and impact the outcome of the interaction. Missing customer inquiries or not responding in a timely fashion is a problem for small businesses owners and managers as resources are usually stretched thin in this realm of business. AI powered ‘chatbots’ can deliver efficient and effective frontline initial interactions and even complete simple customer customer requests. AI technology can also provide customer service at any time of the day, ensuring new and existing customers who reach out are given attention promptly. Chatbots can gather critical customer information related to the inquiry for highly effective follow ups by humans. Recent innovations in machine learning can also provide more complex customer service solutions, enabling users to make detailed product or service requests, place orders and pay for them in one session with the chatbot. Customer service, 24/7 is a distinct advantage in a very competitive marketplace.

Crunching the Numbers

Machine learning models can be useful to small businesses in the back end as well. AI technology can be coded to perform calculation and analysis of vast amounts of data to identify trends and deliver strategies and recommendations for improvement. Customer facing businesses can optimize operations by understanding customer preferences and shopping habits while accounting departments can automate tasks and perform quick analytics to fine tune areas with opportunities. More advanced AI solutions can also track inventory units and forecast material and unit needs based on customer purchasing habits and historical sales data. AI can even go a step further and research trends in the marketplace to make better inventory calls and recommendations. For businesses that utilize eCommerce, AI platforms can track the entire process from beginning to end and give recommendations on better transaction flow and cart abandonment challenges.

Next Level Training Effectiveness

The next frontier in training technology is AI and machine learning models. Advanced user interactions and plain language comprehension give AI tools an advantage when it comes to training new hires and upskilling veterans alike. With less resources and time, small businesses need fast and effective training that prevents and eliminates potential service and operational gaps through vacancies. AI technology can deliver skills, concepts and processes much faster with more effectiveness than traditional methods of training. hospit-AI-lity is a new technology from Travel Technology Solutions and utilizes machine learning and AI processes to train frontline workers in the travel industry, where service and quality gaps can greatly impact the business. Newly hired workers can learn customer service skills, organizational habits and internal processes and tasks in a fast paced and engaging environment through AI and machine learning. Modular infrastructure and flexible data sets can be customized to help current employees perform better and upskill their own capabilities.

The Bottom Line

Scalability and forward progress has brought AI technology well into the mainstream and has seen successes in the B2B sphere. With its high level of user engagement, plain language comprehension and advanced capabilities for automation, machine learning and AI models can bring real benefits to small businesses and save what most SMB owners and managers are in desperate need of, time. Purpose-built technology can optimize, deploy and evaluate marketing initiatives, provide frontline customer service, handle basic customer requests and deliver effective training for new hires and upskilling existing team members. Automating routine tasks, such as accounting or social media engagement, can help organizations increase efficiency and accuracy of efforts as the technology ‘learns’ from its processes. The current economic landscape for small business may present challenges and technology and advanced tools can give brands the edge they need in a challenging and competitive marketplace.