7 Best Ways to Use AI for Your Small Business

Uses of AI were limited back then, it was majorly for large companies with substantial funds.

But now the times have changed, AI has made it easier for small businesses as well with cost effective rates.

75 % of US small businesses reportedly use AI tools already, according to a survey. Even said, there is still a lot more discussion about using AI in various roles than there is actual use.

Maybe AI is going to be secretive for a long time. Though, if you also want to use AI for your small business, this blog is for you –

We are going to discuss different AI case uses and will meet with the top AI tools to grasp.

How can AI be useful for small businesses?

Small businesses have great benefits from AI, as it can transform their business in more ways than one. You can count on AI to increase efficiency, decrease time, and streamline operations!

The following are some advantages AI can offer small businesses:

• AI can assist in automating manual operations that are repetitive.
• AI has the potential to improve a business function’s efficiency.
• Large document data and patterns can be analysed using AI.
• AI can improve your operations’ efficiency.
• AI has the potential to lessen reliance on humans.
• AI can increase productivity while lowering expenses.
• Conducting in-depth market research can be aided by AI.

How Small businesses should use AI?

Let’s explore 7 different ways of how small business can use AI:

1. Business Strategy

It doesn’t matter if the company is a start up or well established, business planning is necessary for both. On the other hand, manual document creation, in-depth analysis, and research might take a long time.

AI may save time wisely by helping you in creating projections, investor pitches, and company strategies.

To give you an example, when you create a business plan manually it may take you around 3-4 hours, but with artificial intelligence you can create the business plan in just 1 hour. This is only possible with the help of AI, which can systematically make your business plan in the style you want.

A business plan and other planning documents may take many weeks to create without AI. It is possible, however, that they do not have an accuracy mark.

Hence, it is better to use AI and focus your efforts on important business components and plan execution.

2. Content Creation

AI can increase your content game by 2X by making a variety of long term and short term content. From blog posts to landing pages, emails, newsletters, social media posts, and product descriptions – AI can do everything.

Some AI tools that are great choice to in creating natural language:

• • Chat GPT
  • Google Bard
  • Jasper
  • Copilot

Further, you can choose AI tools to generate images and videos as well. For example, Dall-E is a superb AI tool to generate realistic images based on your prompts. Such tools are profitable and require minimum learning.

3. Sales and Marketing

Small businesses can utilize AI to increase sales, customer satisfaction, and success of their marketing strategies.

Starting with, you can deliver a personalised customer experience by using AI to analyze the customer’s desires and future trends. Also, AI tools can be used to increase lead engagement and conversions.

AI bots trained in natural language processing (NLP) can converse with leads in a conversational manner and successfully route them to human agents for conversion.

AI can also be used to forecast how well your advertisements will succeed. It provides insight into what will and won’t work, enabling you to adjust your plans appropriately.

Finally, AI can help with decision-making, save time, and uncover hidden opportunities in the data.

4. Project Management

In project management artificial intelligence (AI) can be used to automate boring and time consuming human worlds including data collecting, tracking, and reporting.

AI systems operated by machine learning and natural language processing may automate every task, including meeting scheduling, timetable management, communication streamlining, and data transmission.

You may save a lot of time for your staff, permit them to concentrate on more important work, by automating these processes.

AI can also assist you to level up the success of your projects. Contemporary AI systems are able to predict potential hazards and provide a risk-mitigation plan to address them. This will help you in solving any issues before they become immense waste.

5. Customer Service

Small businesses should use AI platforms to improve and facilitate customer service. AI platforms can be used by small firms to improve and expedite customer service. With after-hours support, you can make your brand more accessible.

Start with chatbots, the most popular AI in customer support. AI bots can answer FAQs by providing users with correct and satisfying answers. Your support team will be able to focus more on the complex questions regarding the pipeline as a result.

This will enable your support staff to concentrate more on the pipeline’s complicated inquiries.

They can provide responses in natural language, which will boost customer satisfaction. Because the majority of these AI solutions use (NLP).

One can record customer interactions and analyse customer sentiment by integrating your AI product with CRM. By doing this, you can obtain information that will help you improve the goods and services you offer.

6. Accounting

Small firms can improve financial planning and smooth accounting procedures by using artificial intelligence (AI).

To streamline repetitive procedures, eliminate data entry errors, and facilitate intricate payables and receivables processes, AI has great potential.

That isn’t it, though. The use of artificial intelligence tools has countless advantages.

For instance, AI is natural language processing (NLP), which can quickly and easily provide insightful reports by accurately analysing extensive financial documents that would otherwise take days to finish.

Another AI technology, has the ability to identify fraud and unusual activities in financial processes greatly, enabling organisations to make more educated decisions by machine learning (ML).

In fact, artificial intelligence is generally used in accounting. It is beneficial for your small business are guaranteed, whether you use AI to automate bookkeeping or to carry out sophisticated predictive analysis.

7. Boost Efficiency

Utilize AI to automate repetitive and menial task, freeing up your time for important work.

Firstly, small businesses can determine which three business functions take the most time. Then, they can spot chances to apply AI to save time and money.

For example, you can use AI to quickly analyse data and produce predictive projections if data analysis is an important business activity that takes a lot of time.

This will assist in reducing the amount of time needed to do manual tasks.

YourLegal can assist you in your AI journey

The ease of access to AI tools has made leveraging AI simpler. Before scaling AI to new heights, you might begin by integrating it into the most rigorous business domains.

AI can be a tremendous asset to your business strategy, especially if you are just starting out. After all, your company’s success story will ultimately be woven together by a solid foundation and a clear path.

Therefore, if you want to efficiently plan and build your business, start now with YourLegal to streamline your financial needs. We can assist you with your finances and guide you through the process.