Are AI Tools Useful For Small Businesses? This New Study Has The Answer

The world of AI-powered technology is taking center stage and many are now incorporating various tools from this domain into their everyday lives. And small businesses are no exception.

But what is the future of AI for such enterprises?

It’s likely that AI is going to take over the world sooner than later. That puts so many small firms at risk of greater competition from those who make use of AI technology better than them.

This new study surveyed nearly 1,000 owners having small-scale corporations and how they are utilizing AI tools. And it’s the best motivation you need if you are on the fence linked to using such tools for your brand to succeed.

Remember, each tool comes with its own respective learning curve. After getting past that hurdle, you may witness some major financial savings.

AI tools for firms entail a wide array of functions. This includes communication with respective clients to make processes more automated like payrolls and analysis of data. Moreover, the manner through which so many firms use AI is a major mix of customer-facing and internal-facing ordeals.

Moreover, one of the biggest findings in this research had to do with firms implementing AI. They saw much greater growth in revenue when compared to those who didn’t see much. Out of those that did see growth, the rise in yearly revenue growth was around 75%. 9 out of 10 people who used the respective AI tools felt AI is indispensable, adding how valuable of a factor it turned out to be for their growth.

The benefit of AI includes reducing the chances of human error and enhancing the business’s productivity. Moreover, the study proved that the biggest reason for taking AI on board is better communication as it shines greatly in this respect.

For instance, you’re bound to answer a customer so much better and with greater proficiency related to all of their queries when using AI. Problems get solved quicker and more effectively and in the end, you are converting a potentially happy client into a very happy one.

In the same way, another study spoke about how 92% of users that enjoy online purchases prefer AI customer service. And they feel no drawback or resistance when dealing with someone that is in a nonhuman form for their support. Obviously, a lot more needs to be done in this field but so far, the results look promising.

We still have a long way before we eliminate the likes of getting rid of human telephone support when conducting chats. Furthermore, we’ve got a paper from Harvard that was published last year and it speaks about how AI is bound to improve dramatically with time as it gets more advanced.

Hence, we’re expecting to see more acceptance and better customer satisfaction. See, the goal of AI is to help give users more support in various niches. Be it health, shopping, banking, finance, and IT. And it won’t be long before we see it getting improvement for small-scale organizations too.

Now coming to the main part of things what AI tools should a small business take advantage of?

A lot of small firms are speaking about increasing budgets to take on such tools for maximal efficiency. A lot of large enterprises are focusing on project management as one designated department for such tools as others include the likes of teamwork and Project Insight.

If we had to pick up one from this list, it’s ProofHub which is widely utilized among all of these niches. And the number two department for using these tools was customer support.

ChatGPT is really helping firms save up on costs big time as its respective business apps are really marvelous in terms of getting the job done well. You can draft mail and add it to webpages, and even some more tools. Some are using it for the sake of writing and debugging as well.

So as you can see, the applications are plenty and they’re really paving the way for a remarkable future that not many had anticipated from day one. Hence, as a small business, you might want to read further on this domain to really better your company’s future outlook.
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