How SMBs Are Leveraging AI To Create Value

Believe it or not, this article is not written by Artificial Intelligence (AI), there is currently an explosion of content being generated by Large Language Models (LLMs) with ChatGPT being one of the most popular being trained on vasts amount of data in an attempt to return expert data in any domain.

I personally have challenged ChatGPT in my specific areas of knowledge (IT, Networking, System Administration, Cybersecurity, Programming, etc.) and have found it to be accurate most of the time, and the rest of the time maybe not specific enough but still largely accurate. I believe this is largely due to the fact that there is very little grey area in any of these areas, there is a right and a wrong way to do things, and if you do them wrong, whatever you are working on simply doesn’t work. For areas that are a little more subjective, ChatGPT can and will make stuff up if it doesn’t know the answer in a best guess style attempt to answer your questions – so its important for you to still validate your answers when using a GPT stye LLM.

The purpose of this article is not to explore all the different types of LLMs but more to get businesses thinking about the ways they can leverage AI to enhance their business processes. I’ll start with the AI strategy in general.

How Should My Team and Organization Be Thinking About AI?

The 5 things you should be thinking about as a small business leader/owner.

AI is not just a passing trend; it’s a revolutionary force much like the advent of electricity. As such, establishing a clear AI policy on the dos and don’ts is crucial. This will help guide your team in harnessing AI’s power responsibly and effectively.

1) Start with Low-Hanging Fruit

Begin by adopting AI solutions that are easy to implement and offer immediate benefits. These initial steps will provide your team with quick wins and build momentum for more complex AI integrations.

2) The Accelerated Pace of Innovation

AI drastically reduces the time required to develop new products and applications. Innovations that used to take years can now be realized in a matter of months. This rapid pace means businesses need to be agile and ready to adapt to new opportunities frequently.

3) Preparing Your Team for AI

One of the biggest challenges in adopting AI is addressing fears about job displacement. Emphasize that AI is designed to augment human capabilities, not replace them. By automating routine tasks, AI allows your team to focus on higher-value activities, ultimately doing more with less.

4) Fostering Creativity and Innovation

Encourage your team to think creatively about how to utilize AI. Consider hiring an IT company that offers AI consulting or managed AI services to help identify and implement opportunities tailored to your business needs.

5) Enhancing Human Efforts

Map out your business processes to identify areas where AI can amplify your team’s efforts. The goal is not to remove humans from the equation but to enhance their capabilities and productivity through AI integration.

What Areas Should I Be Concerned About When Adopting AI in My Business?

Here are 3 areas you should be concerned about when adopting AI in your business.

1) Privacy, Cybersecurity, and Compliance

When implementing AI, it’s essential to address privacy, cybersecurity, and compliance concerns. Establish a clear policy for using Large Language Models (LLMs) and other public AI services. Conduct thorough risk assessments on AI tools and ensure robust governance on software selection and usage.

See our related blog post on ChatGPT Cybersecurity Risks.

2) Ensuring Accuracy and Human Oversight

AI, while powerful, can sometimes lack accuracy. It’s vital to have human oversight to double-check AI outputs. Remember, AI should reduce busy work and manual tasks, but humans are still needed to ensure quality and accuracy.

3) Managing AI and Automation

Implementing AI, particularly in robotic process automation, requires ongoing maintenance. However, the return on investment (ROI) can be significant if you identify and automate the right high-leverage processes.

Where Should I Be Thinking About Implementing AI?

Here are 5 key areas you should be looking to implement AI.

Easy, Low Barrier to Entry Areas

Train Staff on AI Tools: Begin by training your staff on using ChatGPT and other LLMs. Familiarity with these tools will integrate AI into their daily work. Establish an AI policy to guide proper usage.

Company-Wide AI Assistant: Create a company-wide AI assistant trained on your specific data. This can streamline various tasks and improve efficiency.

AI-Powered Meeting Assistant: Implement an AI-powered meeting assistant to take notes, summarize meetings, and distribute summaries. This frees up your team to focus on participation while the AI handles documentation.

More Advanced AI Opportunities

Automate Manual Processes: Review your internal processes for manual tasks and integrate AI to automate busy work. This could involve connecting various software tools like email, ERP, and accounting systems.

Hire Specialist Firms: Consider bringing in specialist firms to help you identify and implement AI and automation opportunities, ensuring you get the most out of these technologies.

Conclusion

In conclusion, AI offers immense potential for small businesses to streamline operations, enhance productivity, and stay competitive. By starting with manageable AI solutions and gradually scaling to more advanced implementations, companies can experience immediate gains while positioning themselves for future growth. However, it’s critical to balance automation with human oversight, address privacy and compliance concerns, and continually upskill teams to leverage AI responsibly. With thoughtful integration, AI can be a powerful tool to amplify human effort and drive innovation across your organization.