Can small businesses ride on the AI wave?

While Artificial Intelligence (AI) will not completely replace your staff, it can handle some of the tedious tasks that reduce productivity. 

Information Technology experts believe that in the dynamic landscape of modern business, small enterprises often face challenges in optimising their operations and resources on top of failing to get the right people to do the job. 

But with the advent of Artificial Intelligence which has taken the world by storm, proponents of AI have dubbed the year of ‘AI exuberance’.

Mr Nobert Kiiza, an education partner at FXPesa, says that the adoption levels of this new technology this year has seen several businesses leverage AI capabilities to bolster their operations.

AI of recent has been developing and improving tools. Here are some of the recent AI tools that are popular in 2023 according to IT experts.

Chatbots and virtual assistants
Mr Kiiza says visual assistants and chatbots are catering to various requests and suggestions by clients through one mode of communication.
“These provide a well-documented list of resources and guidelines all aimed at catering to different client needs. The bots are designed in a way that the solutions provided are timely. Some of these include: Drift, Intercom and Chatbot.com,” he says.

However, he warns that use of chatbots can be cumbersome and customer relations can deteriorate with time. Hence, it is wise to consider several channels of communication and client support. One of these is automated, pre-programmed chatbots. 
For chatbots to be efficient, Mr John Ssenkeezi, the digital supervisor at National Social Security Fund, says integrating natural language processing with chatbots enhances their ability to understand and respond to user queries more intuitively, improving the overall customer experience. 
“Customer relationship management systems integrated with AI can automate routine customer interactions, such as order confirmations, follow-up emails, and feedback requests. This ensures customers receive timely and consistent communication,” he says.

Mr Ssenkeezi adds, “Chatbots can be programmed to handle routine customer queries, such as frequently asked questions, order status inquiries, or basic troubleshooting. This not only provides quick responses but also ensures 24/7 customer support for SMEs which are usually short on staff and financial resources.”

Experts also say that AI-powered social media engagement tools can assist SMEs in analysing large volumes of social media data, identifying trends, understanding customer sentiment, and tracking brand mentions. 

“These insights can inform targeted marketing campaigns, optimise social media strategies, and enhance customer engagement. SMEs can also utilise social media chatbots to provide real-time customer support and address inquiries directly on social media platforms,” Dr Ernest Mwebaze, executive director, Sunbird AI explains.

 Mr Kiiza observes that in the age of digital marketing, maintaining a strong presence on social media is crucial. AI-driven social media tools like Hootsuite, Buffer and SocialBee help schedule posts, analyse social media trends as well as manage a business’s content effectively.

Virtual assistants can collect and analyse customer data from various channels such as social media, websites and apps, this data can include customer preferences, purchase history, and feedback. By analysing this data, SMEs can gain valuable insights into customer behaviour, enabling them to make data-driven decisions and personalise their products or services to meet unique needs for their market or customers.

“AI-powered project management tools can streamline workflow processes, automate task scheduling, and identify potential risks and delays,” Dr Mwebaze.

He adds, “These tools can help SMEs manage their projects more effectively, improve collaboration among team members, and ensure timely project completion. Additionally, AI can analyse project data to identify areas for improvement and optimise resource allocation.”

According to Mr Kiiza, efficient project management is crucial for any business to meet deadlines and deliver quality work. AI-powered tools like Trello and Asana facilitate project management, collaboration, and workflow automation. 

Prioritisation of tasks is done by the AI system allowing the user to complete relevant tasks in a timely manner. This not only optimizes performance of any business but allows for seamless operations.

Customer relations 
Mr Kiiza says maintaining strong relationships is paramount for small businesses and AI-powered tools such as Salesforce, Zoho CRM, and Hubspot streamline business sales processes, track customer interactions, and provide valuable analytics and insights for decision making. 
He explains that from sales tracking to lead scoring, these tools enable businesses to understand their customers better, tailor their offerings, and drive revenue growth. 
“The integration of AI tools into small business operations is a game-changer, offering unprecedented opportunities for growth and efficiency,” he says. 

 As these tools evolve, “businesses can look forward to a future where they can leverage AI to unlock new possibilities, enhance productivity, and drive sustainable success since small businesses are looking at cost effective means of operation,” Mr Kiiza notes.

Personalised marketing 
One of the unique advantages of SMEs, owing to their small customer bases, is the ability to personalise communication with customers. AI can analyse customer data stored in client relationship systems to create highly targeted and personalised marketing campaigns. 

Others areas
SMEs can use AI in Automated Content Scheduling. AI algorithms can analyse historical data to determine the optimal times for posting on social media platforms to maximise the organic reach of content.

He says this ensures that SMEs reach their target audience when they are most active, increasing the visibility of their content and chances of getting engagement and action. Automated scheduling tools can also assist in maintaining a consistent posting schedule, which is crucial for building and retaining an online audience.

“AI-powered sentiment analysis tools on the market monitor social media platforms for mentions of the brand and analyse the sentiment behind the positive, negative, or neutral mentions ; whether the brand is tagged or not,” he says.

This, he believes, is very useful in measurement of marketing effectiveness, crisis detection and management, to mention but a few. Sentiment data allows SMEs to respond quickly to customer feedback, address issues, and amplify positive sentiment through targeted marketing efforts.

As AI technology continues to advance, SMEs can leverage these tools to stay agile and competitive in the rapidly evolving business landscape.