In the modern world, small businesses exist under the pressure of their bigger competitors, which makes their life and development much more complex and stressful. Starting and running a small business demands a lot of energy, courage, and time, and the fear of failure is always present.
Copyright: aitimejournal.com – “How AI Benefits Small Businesses”
Statistical records say that over 20% of small businesses fail in their first year, and approximately 50% fail and close sometime throughout their first five years. But, many business owners don’t know about the advantages of utilising artificial intelligence. AI can solve some problems small startups and businesses face and increase profit. For example, AI can significantly improve customer service.
There are several specific problems owners face. Currently, AI won’t be able to solve all of them, but it can make running a small business much easier. You can also read AITJ’s article 5 Benefits of AI for Business to get some new insights.
What Challenges Small Businesses Face?
The number of small businesses is growing rapidly, so now is the best time to have or start one. However, people who plan to start a small company or already have one may face several problems. These challenges include:
- Lack of funds
- Lack of time
- Difficulties finding qualified employees
- Balancing business growth and good/service quality
- Ineffective web and social media presence
- Attracting customers Increasing brand awareness
- Financial planning
- Workflow management
Unfortunately, AI cannot solve all businesses’ financial problems. However, it can win its owner and employees plenty of time by overtaking some of their responsibilities. Company owners can apply AI in various fields, such as customer service, marketing, or cybersecurity. This article will explain how AI benefits small companies in each of these domains.
How Can AI Help in Marketing?
AI can help businesses create their Content Marketing strategy. Content marketing aims to attract new customers, engage followers, and increase brand awareness through social media posts, blogs, e-mail, e-books, etc. Hence, AI utilises specific algorithms to analyse the existing data and define the most popular types of content. Additionally, thanks to the conclusions AI draws, choosing keywords, posting frequency, and topics for future posts becomes less complex.[…]
Read more: www.aitimejournal.com