AI, Machine Learning, and Automation in your small business – AI and its benefits to small business

In the previous article we explored AI and Machine Learning and the challenges that come with it. In this article we will explore some of the benefits it will offer to your small business both now and into the future.

AI and its benefits to small business

Improved recruitment process

Most businesses don’t have a HR department at all, and most human resources tasks can be overwhelming and time consuming for business owners. These tasks can now be put on the shoulders of AI and Machine Learning. HR is one sector of business that is noticeably reaping the benefits of AI – it has helped reduce repetitive tasks, lessen manual work, and (most importantly) speed up and make operations more efficient. Take AI-enabled applicant tracking systems, for example, – you can develop searches, browse CVs, and harvest the right range of top candidates quickly, and  can then conduct an initial interview that requires no human involvement – this means you only need to use your valuable time on candidates that stand a chance of becoming part of your organisation. This all ensures an unbiased, objective selection process based around equal opportunity.

Accurate decision making

As Machine Learning capabilities increase the amount of data that the average business obtains expands right alongside it. This has led to decisions being made digitally instead of them remaining as manual ones. AI gives you a level of trust in your technology that we have never seen before.  You now know that your tech will always do what is right for your business with no bias and minimal errors – an achievement that can’t be guaranteed when dealing with humans.

Interaction whilst mobile

AI is built into the hardware of modern smartphones in Microchips. The very high-performing processors will give end-users real-time abilities like improved speech recognition and translation, in turn helping your business become competitive and accessible globally.

Customer service

The customer experience is arguably the most integral part of any and every business around the globe, no matter its size. AI and Machine Learning are expected to revolutionise customer support over the coming years. With AI powered software and sentient analysis technology, responding to customer concerns effectively and in a timely manner will be significantly easier. Another part of the customer experience effected by AI and Machine Learning is complaints – with AI, complaints are mostly script driven, meaning that there is more chance of complaints being handled effectively and at speed. Incorporated into these are software for live chat (chatbot technology), which will help give quick and accurate answers as well as build greater engagement with your target market.

Security

One of the key concerns of every business around the world is cyber security – and it is key to remember that AI and Machine Learning are used by the bad guys too. AI and Machine Learning make it possible to detect fraud and – with their ability to learn over time – can self-adjust to learn from the current situation and past experiences. This allows it to take the correct course of action with the least amount of risk and defend the system as effectively as possible. AI can make you and your team feel safer when navigating your technological landscape, it can identify vulnerabilities in your network defences and Machine Learning can interpret the complexity of the information and algorithms – in the process, ensuring that better defence strategies are implemented in the future. Better security is always a good thing, and having good standards of it allows you to make that full guarantee to your customers that their data is safe – in turn increasing the trust they have in you and the likelihood of them recommending your company to others.

Automating Candidate Recruitment

AI can track applicants, screen CVs, and schedule job interviews without any human input – in short, you can automate the entire recruitment process. Using this data, you can leverage data to match job requirements to an applicant’s knowledge, skillset, and experience. AI can make hiring and recruitment much more effective; it can guarantee that you only use your valuable time speaking with and investing resources in the very best of candidates that actually have a chance of becoming part of your team within your small business.

The purpose of AI and Machine Learning is to improve and strengthen your already established methods of success with technology. Across every industry there will be the need for changes, both big and small. Unfortunately, there is the very real possibility that a member of your team may be replaced by AI and Machine Learning due to cost, or it could simply be that technology is the better solution for productivity and an effective use of the short workday – but this should be seen as an opportunity for the team member to re-tool and re-equip themselves for the new modern age of work (one dominated by a heavy technological presence). AI and Machine Learning aren’t common practice in small to medium businesses just yet, but it is now time to learn and adapt to the new ways that things will be done going forward. In short, you must adapt to the technological age we live in or risk being left behind.

AI technology is continuously reshaping the way we view small businesses and the processes, techniques, and strategies that make them successful. Businesses in the modern world have been forced to look at ways AI can accelerate repetitive tasks, minimise human error, and ultimately increase accuracy and in turn the efficiency of the organisation. The success that has already been achieved leads us to be confident that AI is here to stay for many years to come. Yes, we are in the early stages of its spread around the globe, but it has already brought untold success to countless organisations that achieved a successful implementation. To be sure that you are not left behind the competition, small business owners should make serious considerations regarding the implementation of the ever-growing phenomena that is Artificial Intelligence and Machine Learning, because with it you can look forward to a prosperous, efficient, and secure future with technology as a powerful ally in your search for success.

AI and Machine Learning in your small business

4TC take time to understand the daily challenges that your business faces. We then provide cost-effective tech solutions to these issues that will help you save time, protect vital data, and enable you and your staff to be more effective with your time management. We will ensure that your staff are using the technology at their disposal in a way that works for them, whilst making sure that they are educated on how to use it as productively as possible. Utilising your IT to its full potential is essential to guarantee that you and your business can thrive and grow into the future. If you would like to find out more on how 4TC Services can provide affordable tech management to your business, drop us an email or call us now for a full demonstration.