Why SME's Must Embrace AI Tools in Their Business
Introduction
Yesterday, I was on a great networking call with three very supportive HR professionals when the subject of AI came up, and how we all used it. One of the women on the call shared a list of over 120 different AI tools, that was just for educators!
Time seems to have flown since ChatGPT was introduced in November 2022 and I for one have enjoyed using it to help me with ideas generation, copy, coding issues for my website, holiday itineraries and much more. I truly believe that it has made my life much easier and have fully integrated ChatGPT along with other AI tools in my working life.
Embrace AI or Stagnate
In an article I recently read about the challenges facing SMEs in 2024, embracing AI into what small businesses do was cited as one of the biggest. Embrace AI or “face stagnation” was the claim, but I do believe for most businesses this is the case. It’s not just about staying ahead—it’s about staying in the game. AI can help you work smarter, not harder, by boosting efficiency, improving customer experiences, and delivering insights that save both time and money.
Choosing AI Tools
But with so many AI tools out there choosing the right ones can be overwhelming. The key is to focus on tools that solve your business’s specific challenges. Whether it’s improving customer service or streamlining data management, look for AI solutions tailored to your needs.
According to a recent Forbes article, top AI tools for 2024 include Jasper AI for marketing, HubSpot’s ChatSpot AI for CRM tasks, and theGist for managing work communications. These tools were chosen for their ability to boost productivity and efficiency, making them ideal for SMEs looking to make a big impact without a massive budget. Jasper AI, for example, speeds up the creation of marketing content, while theGist helps keep your daily notifications organized in one place.
Meanwhile, larger companies are using advanced AI like IBM Watson or Google Cloud AI for deep data analytics, and tools like UiPath for automating repetitive tasks at scale. This raises the bar for everyone, including SMEs. But fortunately, SMEs can use their agility to their advantage. By adopting cost-effective, scalable AI tools, smaller businesses can compete on a more level playing field, even outpacing larger firms that may struggle with slower decision-making processes.
A Challenge to You
Have you implemented AI yet or are you still sceptical about it? My advice is do a basic course in AI to reassure and open your mind – there are plenty of free ones out there, as well as cost effective ones. Just on Coursera alone there are thousands of courses.
When selecting AI tools, think long-term. Will these tools grow with your business? Are they flexible enough to adapt as your needs change? Prioritise tools that offer clear benefits and are easy to integrate into your existing workflows. The goal isn’t just to adopt AI for the sake of it, but to choose solutions that truly add value to your business.
Conclusion
In a competitive market, the SMEs that successfully integrate AI now will be the ones leading the charge in the future. Don’t wait—make sure your business is equipped to thrive in a tech-driven world.
This blog is inspired by insights from ECI Partners’ article on the biggest challenges for SMEs in 2024 and Forbes’ summary of the best AI tools for work. Read more about these insights here and here.
Never used ChatGPT? Want to learn more about it – at Catalyst Coaches we can coach you through using it on a one to basis identifying where you can best use it. Get in touch today.
