Blogs Sponsored Posts 

How can small businesses leverage machine learning AI?

Ruchi Gupta

The concept of Artificial Intelligence is not new. In fact, it is here since the 1950s. Since then, a lot of developments have been made in the field of AI and now Artificial Intelligence is well within the reach of almost all kinds of organizations and businesses whether big or small. Small businesses might think that they are left out cold when they see their bigger counterparts actively using Machine Learning and Artificial Intelligence and feel that AI & Machine Learning is out of their reach but this is not the case as because of the existence of Cloud, any company can look forward to leverage Machine Learning/ AI at any level of their businesses and use it actively towards their positive growth.

Nowadays, it doesn’t really affect as to what is the area of operations for a particular business as advanced technology, for each and every market has never been so cheap, affordable and well within the financial budget of a relative organization. Automation has really come a long way. Gone are the days of doing boring and heavily laborious tasks manually as computers can perform the same tasks, with much better efficiency, in a fraction of the time as compared to manually handling the same. Consequently, the business performs better and lands itself in a much more profitable position than where it was earlier.

There’s Abundance of Technology Present That Any Kind of Businesses Can Take Advantage Of

Ranging from using Artificial Intelligence Chatbot Service in the field of customer service, using a cloud office suite for better communication and collaboration in the company to using Smart Process Automation from companies like WorkFusion who can construct the AI tools and automation bots for improving as well as boosting productivity of the business, technology is present for any kind of financial budget whatsoever an organization might have. Moreover, there is absolutely no need to hire AI scientists for the task as a business doesn’t need to be aware of the maths that is happening at the backend and is only concerned with the results.

A company, doesn’t matter how small it is, must break open from the traditional mindset, which is highly limiting in nature and take steps forward to involve ‘Cloud’ in their business operations and the company itself will feel and witness the positive and accelerating growth as ‘Cloud’ can help a business to run more efficiently and can even give a better viewpoint of the emerging trends.

What Can Machine Learning / Artificial Intelligence Do For You?

Before going ahead with the things that machine learning can do for a business; it is vital to understand as to what exactly machine learning is. Machine Learning is a branch of Artificial Intelligence that is built upon and is entrusted the task of analyzing data and presenting insights using various algorithms that can actually benefit the business in the long run. The important thing to understand here is that since it is a part of Artificial Intelligence there is absolutely no need to tell it to do its task, instead, everything is done automatically.

So while a business can work upon improving its position in the market, Machine Learning, can provide the business useful insights and trends for doing the same by analyzing various reports and customer information. All this can be achieved at a very low cost.

  • The main foundation of an organization is all the precious data it has. So where does machine learning comes into play? Machine learning tools can help a business to organize, evaluate and store the humongous amount of data, simultaneously providing useful insights from the same, in a much better way as compared to the traditional data systems.
  • Then comes the most important segment of each and every business which is ‘Customer Service.’
    • A company can use chatbots, build on the very foundation of machine learning, to interact with the customers. Through this approach, the overall cost to the company is decreased and simultaneously much better and personalized assistance is provided to the customers.
    • Moreover, with the help of Machine Learning, since popular trends can be easily identified, a business can actually categorize and differentiate its customers in a much better fashion according to their buying habits. This way, the business can actually provide the services or products which the customer really wants thus achieving customer satisfaction and providing a positive boost to the growth of the business.
  • A business has to spend literally too much on the training of its workforce. Though the area of training can’t be completely overtaken by AI as of now, AI & Machine Learning can be definitely implemented to assist the training of the workforce. Machine Learning tools can actually familiarize the workforce and business with their customers and provide relevant information to build up a successful and long-lasting business-customer relationship.
  • In the hiring sector also, Machine Learning can help an organization to differentiate the persons, based on the information provided by them, into two sets, out of which, one set can be beneficial for the organization while the company can discard the other set and not proceed further with them. This way an organization hires better persons and build a solid, as well as strong workforce plus a lot of essential time and resources, is saved in questioning the unnecessary persons which can be utilized to do more productive and fruitful tasks.

Conclusion

A company can start using and involving gradually the tools and concepts of Machine Learning into their working.

Living and working with the thought that AI & Machine Learning is not built for small businesses like theirs is not at all beneficial for an organization and if this way of working is continued then that particular business can be easily left behind by its counterparts who have adopted the digital way.