One of the big controversies the business world currently faces is “should all businesses utilise AI more?” For businesses to be able to make this decision you first need to understand if AI technology is right for your business and if it will realistically improve things.
We all know the world is developing and more business are adopting various solutions to manage their data. It has become apparent that artificial intelligence (AI) solutions are growing in popularity but is AI growth beneficial or are we “upgrading” for the sake of upgrading. Although AI is known to make things simpler and is consistently referred to as the future, we must also remember it can bring more challenges. So does AI technology suit small and medium sized enterprises (SME’s) or is it best suited to larger corporations?
To be able to answer this question we need to familiarise ourselves that AI focuses on handling big data, with this data we are led to believe it increases probability through collection, processing and analysis… this may be true of larger businesses but SMEs on the other hand don’t possess so much data to see a trend in customers, which is essential in determining a business strategy for them.
For companies such as Amazon it is essential to use AI technology, with the amount of data they hold it makes things easier for them create marketing campaigns, reaching out to customers with personalised products. Whereas smaller businesses wouldn’t have the need to use the same level of automation, as it is more financially feasible to do it manually.
It is important to know that AI doesn’t just handle data, there are add-ons such as chatbots, which ideally would help smaller businesses with less manpower. Depending on what the companies’ goals are AI can benefit each, take security for example, there are more and more cyber-attacks on companies. Larger companies have the ability and much more time to handle these threats using AI data, yet smaller businesses would struggle, e.g. Apple vs your local coffee shop.
So, to conclude yes, the size of the business matters because its costly and quite complex so AI is not always accessible. It is also not actually needed in some smaller companies, and the more specialised the industry is the less likely that AI technology is available. This will change though as the technology is developing, people are becoming more innovative and progressive thinkers will drive the uptake and bring SME’s and AI much closer together. So it is not a matter of size, more a matter of time…
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