02 Apr What to automate next: An AI roadmap for small businesses
Artificial intelligence has ceased to be the stuff of science fiction. It’s real, it’s here and it’s being used by businesses of all stripes and sizes to streamline their operations, reduce costs and enhance customer experience.
Perhaps you’d like to join their number but aren’t sure how and where to begin?
The ChatGPT Revolution author Donna McGeorge says coming to grips with the generative AI chatbot is an excellent place to start.
“There are so many more things you can do beyond just generating content,” she points out. “Try using AI to summarise reports or as a thinking partner to brainstorm ideas, map out processes and spot trends in data.”
Elevating your customer service and experience
Having mastered the use of AI content tools, your next step should be integrating AI into your core operations.
In today’s times, offering personalised, responsive service is a must and AI-powered automation technology can make it easier for your business to do so cost effectively.
Intelligent virtual assistants, for example, can be deployed to respond to enquiries right around the clock, not just during the hours when your doors are open for trade.
You can also put them to work in your marketing team, generating interest and enquiries from customers via personalised campaigns and offers.
“These applications deliver a tangible return on investment and create sustainable competitive advantages that go far beyond content creation,” AI implementation specialist and author of The End of Technophobia, Tracy Sheen says.
Smarter stock management
There are opportunities in the back office, too. AI-powered predictive analytics can help you forecast demand more accurately and, armed with those insights, you’ll be able to adjust your staffing levels to reflect the peaks and troughs of trade.
Using an AI-powered inventory management system can also help optimise stock levels and reduce waste.
Protecting your enterprise from high tech disruption
While AI can deliver transformational benefits, integrating it into your operations does not come without risk. Becoming more reliant on digital systems means your small business is potentially more vulnerable to cyber events.
The threat posed by hackers and cyber-criminals is real and rising and the costs of remediating an attack or significant data breach continue to increase. The average cost of a cyber-crime report is now $49,600, a large sum for many small businesses.
You can make it harder for hackers and cyber criminals to compromise your systems by implementing the Essential 8 risk mitigation strategies, a straightforward set of measures designed to harden your defences.
Cover when it counts
Having the right insurance cover in place is the best way to ensure your small business can continue to prosper and grow. If you’d like to review your current policies or discuss your requirements for the year ahead, contact your Steadfast broker today.
Important notice – Steadfast Group Limited ABN 98 073 659 677 and Steadfast Network Brokers
This article provides information rather than financial product or other advice. The content of this article, including any information contained in it, has been prepared without taking into account your objectives, financial situation or needs. You should consider the appropriateness of the information, taking these matters into account, before you act on any information. In particular, you should review the product disclosure statement for any product that the information relates to it before acquiring the product.
Information is current as at the date the article is written as specified within it but is subject to change. Steadfast Group Ltd and Steadfast Network Brokers make no representation as to the accuracy or completeness of the information. Various third parties have contributed to the production of this content. All information is subject to copyright and may not be reproduced without the prior written consent of Steadfast Group Limited.
Important notice – Watkins Insurance Brokers Pty Ltd ABN 23 059 370 455, AFSL 244427
This article provides information rather than financial product or other advice. The content of this article, including any information contained in it, has been prepared without taking into account your objectives, financial situation or needs. You should consider the appropriateness of the information, taking these matters into account, before you act on any information. In particular, you should review the product disclosure statement for any product that the information relates to it before acquiring the product.
Information is current as at the date the article is written as specified within it but is subject to change. Watkins Insurance Brokers Pty Ltd make no representation as to the accuracy or completeness of the information. Various third parties have contributed to the production of this content. All information is subject to copyright and may not be reproduced without the prior written consent of Steadfast Group Limited.
This article has been reproduced with the consent of Steadfast Group Limited.
Source: – https://www.steadfast.com.au/well-covered/business-insurance/what-to-automate-next-an-ai-roadmap-for-small-businesses/