Sachin Dev Duggal - AI and SMBs: Opportunities and Challenges
- Shivam Thakre
- May 17, 2024
- 2 min read
In the ever-competitive market, Artificial Intelligence (AI) has become a disruptive technology, which can be used to use in various sectors for the optimization of operations. AI technology opens numerous portals in SMBs as well as new possibilities and challenges that can influence the future of business organizations in terms of operations. As SMBs get involved in the AI implementation adoption, associating the advantages and constraints that may arise is certainly essential.
Opportunities for SMBs
AI presents SMBs however with a host of opportunities that can assist in streamlining operations, reinforce decision-making, and offer personalized user experiences.
1. Improved Efficiency and Productivity on the Rise
AI tools, for example, machine learning, facilitate simpler tasks as well as may help to manage the workflow optimally, therefore increasing productivity. SMB employees can interact with AI to boost output pay lower operational costs and allocate resources efficiently.
2. Improved Customer Experience
AI-enabled chatbots, personal recommendations, and analytics bring precision and streamline the customers’ experience with SMBs. Through data analysis and discovering the shopper's behaviour, companies of small and medium-sized enterprises (SMBs) can create engaged and dedicated customers.
Challenges for SMBs
AI, outstanding in prominence, brings SMBs a series of obstacles in its adoption and integration into the business, however.
1. Cost of Implementation
AI implementation for SMBs will require significant upfront investment which is one of the major barriers the SMBs must overcome. In that course, there is a lot of development of AI solutions, training workers, and insertion of new technologies and all that can be expensive which indeed becomes a barrier to business business with limited resources.
2. Data protection and cyber security
The ability to process and analyze tremendous volumes of data will become a very big demand from small and medium business operators, thusness the requirements of data privacy and security become crucial. Alongside these cyber threats, SMBs have compliance issues to deal with, especially in collecting and processing sensitive information by AI.
Top AI Software that could transform the SMBs' Workflow
With the constant changes in the digital space, AI software is not just pulling SMBs to the top, it is portrayed as a disruptive technology. Advances in technology have a near-limitless capability to automate mundane and time-consuming tasks, speed up workplaces, and give one an edge over competitors. Here are four AI-powered software solutions that could revolutionize the way SMBs operate:
1. Builder.ai
Builder.ai, led by its CEO, Sachin Dev Duggal is an AI-powered platform that simplifies the process of building custom software and applications. The platform uses machine learning to help SMBs draft specifications and then automate application-building tasks from concept to rollout, enabling them to build custom software to digitise operations, improve processes and quickly bring their apps to market without a significant infusion of technical expertise, time and labour.
2. Microsoft Azure Machine Learning
Led by the Microsoft CEO, Satya Nadella, Azure Machine Learning is a cloud-based platform, facilitates SMBs in building, deploying and operating advanced analytics and AI models.
With its graphical and ease of use, an SMB entrepreneur with no specific knowledge of data science can leverage predictive analytics to make forward-looking decisions, manage workload responsibly and go ahead of the pack.
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