To grow, we all, especially SMEs can grow only if we embrace AI completely. For, only then we can be relevant in the new digital world.
|Image source : engineerbabu.com|
Traditional vs digital marketing
2. Important insights into the competitor’s business process
Studying the competition thoroughly is critical for all businesses. It helps us in understanding market trends and staying competitive. AI helps by providing significant and relevant insights into the business process of one’s competitors.
3. Off the rack solutions
Small enterprises can easily deploy off the shelf tools into all elements of their business workflow involving data. These solutions provide not only better insights into the process, but also suggest better solutions for the problem. For instance, AI enabled tools like Monkey Learn uses technologies like entity extraction and sentiment analysis to derive a better understanding of the business. This is extremely easy to integrate.
Another tool worth exploring is the Enterprise Immune System by Darktrace. This helps companies build their own understanding of what normal human behaviour looks like within an enterprise and detects emerging threats in real time.
4. Transform your marketing process
AI is fundamentally changing marketing from the roots. AI-based advertising platforms have already been deployed by huge companies like Facebook and Google to target specific customer-set who are receptive to their message. This approach is equally applicable for small businesses. By using programmatic advertising, everyone can easily reach a considerably large audience online, which was not possible earlier. It is strongly recommended for small businesses to start leveraging and integrating AI now if they want to reach potential consumers in the future.
5. Cost and Time benefits
The utilization of deep learning by SMEs can end up saving a lot of money spent on employing extra employees or outsourcing for specified projects. Time-consuming work can be done quickly and efficiently at the mere push of a button. This allows employees to be freed up to do creative work that will help the company grow.
In the 80s, there were exceptions and some businesses considered investment in computers for the future of their industry. These were the ones who grew.
The situation regarding implementation of AI is very similar to the above situation.
need to align applications with their business goals.
Essentially, the AI journey can be prolific for SMEs. They of course need to understand the significance of this emerging phenomenon. After this, they could accordingly prioritize it to achieve long-term and scalable success.
Don't wait. Learn to use AI and digital marketing for success.