Artificial Intelligence ( AI) is changing the face of business. No longer a futuristic concept, its impact is real. From tech giants like Google, Apple and Amazon to user-centric giants like Uber and Starbucks, everyone seems to be using AI technology to transform the customer experience (CX). But it's not just corporate giants deploying AI . Smaller organizations are following suit.
Across industries, small businesses are investigating how AI can help them reduce costs, better adapt to customers and stay competitive with their increasingly technology-driven peers. For small businesses unfamiliar with artificial intelligence, the prospect of launching it can be daunting. However, by taking a strategic approach, small businesses can stay one step ahead in leveraging AI and reap the benefits it offers.
A. Applying AI: Learning from
Starbucks Starbucks is a prime example of a business adopting AI to optimize its CX. In late January, the company announced that it would offer voice ordering capabilities through Amazon's cloud-based virtual assistant, Alexa, and its skill base continues to expand. After connecting with Amazon, the coffee giant pioneered a new technology specifically for Starbucks ordering. The trick, called Starbucks Reorder, gives users a voice-activated way to place their typical order ("Alexa, tell Starbucks to start my usual order") or check their card balance.
Currently in beta, Starbucks' gradual use of Alexa points to an experimental approach that companies are willing to take when deploying AI. While the heavy use of AI has generated the most hype, small businesses should also consider how they can leverage the technology to meet customer needs.
As customers get used to AI-driven solutions like Starbucks' Alexa offering, they'll expect the same from local businesses. Here are some proactive steps small organizations can take to lay the foundation for AI for business applications.
B. Give AI a try in your personal life .
Small business owners should put on their consumer hats and use the technology outside of work before deciding whether artificial intelligence is right for their company. Test Amazon Alexa or Google Home to determine what you like and dislike about these devices, and how your customers interact with your business using similar technologies. In a brainstorming fashion, you might codify AI into your company and weigh the pros and cons of implementing the emerging technology. Lay out business-specific AI goals.
Small businesses should not approach AI without a plan in place - prioritizing specific applications of AI technology is critical. For example, if you run a clothing store, maybe you look into predictive analytics techniques to reduce staffing inefficiencies. Or, if you own a restaurant, you might be more concerned about the potential of autonomous delivery vehicles. If you are a company with complex accounting, you may want to ease the process with AI. By setting specific and highly focused goals, small businesses can more easily develop a game plan to achieve them.
C. Speed up your IT capabilities.
As noted in a November 2016 study on the growing adoption of AI, difficulty tracking and understanding data is one of the main obstacles businesses face when deploying AI. Small businesses cannot benefit from AI without the IT infrastructure to support it. Therefore, smaller businesses should start their AI journey with a modern IT approach - moving away from traditional on-premises solutions to resources in the cloud that will be able to scale as AI technologies are implemented.
D. Track the growth of artificial intelligence.
Actively following the evolution of AI will now work in the long term. Even if your small business isn't currently ready to deploy emerging AI tools, it's important to keep an eye on the market. That way, you'll see when technology emerges that might benefit your business -- and you'll be able to track the AI moves your competitors are making, so you're not left behind.
As the example set by companies like Starbucks shows, businesses are pursuing AI to optimize operations and improve customer experience. By actively working to learn and embrace AI, small businesses can prepare for the future of AI solutions.
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Parts of this article were compiled from John Swanciger 's article on the Entrepreneur website .