A growing number of small businesses are now using artificial intelligence (AI) to improve operations. Studies show these businesses are more profitable than those who haven’t yet tested the AI waters. Generative AI platforms like ChatGPT or Google’s Gemini are recent newcomers. But AI has been evolving in various forms for some time, through tools like predictive text and virtual assistants.
The technology can be harnessed in a multitude of ways, including administrative automation, sales and research. The newest generative AI forms demonstrate significant marketing and customer service potential but come with concerns about data privacy and ethics.
Here’s how you can harness AI to benefit your small business.
Automate and Streamline Tasks
Most small businesses could benefit from process automation tools to help complete daily tasks. These programs use AI assistants to build workflows across various platforms like Hubspot or Google Sheets. They are used for tasks like data entry, report generation, social media management and more across many different apps. While they take time to learn, they ultimately save time over the long run.
Record Meetings and Take Notes
Capturing brainstorms from team meetings is another way AI can help your business. Gone are the worries that you missed something important on your call. Now AI tools attend your video meetings, record conversations and create summaries. Some also allow you to bookmark specific parts of the recording to return to later. Your virtual assistant can save time transcribing and distilling the key points from discussions. To decide what tool is best for your business, consider how detailed you need notes to be as well as your budget.
Find Patterns and Analyze Sentiment
Market research is energy-intensive, but AI can make it more efficient. Sophisticated programs use natural language processing algorithms to distill qualitative insights from survey responses, transcripts, social media posts, reviews, etc. This identifies trends and patterns much faster than with human analysis. Research shows there are some blind spots in AI-automated market research, however.
For example, AI research lacks the nuanced thinking and business context that real-world analysts possess and can reach seemingly logical conclusions that are invalidated by reality. The best approach is to use AI tools but still make sure to read interview transcripts and double-check the accuracy of AI-generated research content.
Generate Images and Thumbnails
If you regularly create a newsletter or send out emails that include photos, AI image generators can be a valuable resource. Images generated are copyright-free, and they save time and money by eliminating the need for photo shoots. Different generators have various subscription models or allow you to buy credits to create images.
Use Prompts for Content Generation
Generative AI Chatbots like ChatGPT or Google’s Gemini can create content or analyze information based on your questions. The output is only as good as your question, though. Precise and direct requests will provide the best result. Research AI prompts related to your industry and use them to create content and summaries or conduct research.7 For example, here are some AI prompts for marketers. Be sure to verify the results, as chatbots can “hallucinate” or spit out false information.
Be one of the many businesses that harness AI to gain an advantage. Continue to build your dream with the aid of today’s technology tools, and don’t be afraid to experiment. Insure your business so you can continue to grow worry-free. To learn more about how FBICI can help your business, contact your local agent.
Disclaimer: The information included here is designed for informational purposes only. It is not legal, tax, financial or any other sort of advice, nor is it a substitute for such advice. The information may not apply to your specific situation. We have tried to make sure the information is accurate, but it could be outdated or even inaccurate in parts.
Sources
US Chamber of Commerce
Bipartisan Policy Center
Forbes
eWEEK
Influencer Marketing Hub
Nerd Wallet
