Can AI be your new friend?
“Artificial Intelligence is the entrepreneur’s companion tool for efficiency and competitive advantage”
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Can AI be your new friend?
This week I asked chatGPT to write the draft of this message. It popped out a 300 word article on the benefits of Artificial Intelligence (AI) for small business in seconds. Things slowed down a bit when I asked for content relating to Africa but the results are astoundingly good! I have attached the message here for you to see
And I was surprised to see just how many of the common workplace tools we use are already AI enabled. A list of the top ten is shared here. For example, did you realise that social media organiser Hootsuite, spell and grammar check tool Grammarly and the sales & marketing component of Salesforce all use AI?
It’s becoming increasingly clear that entrepreneurs who embrace AI have a distinct competitive advantage over those who don’t. For example, AI-powered marketing tools allow you to personalize messaging and better target your audience. Amazon’s ‘recommendation engine’ has been suggesting products to customers based on their browsing and purchase history, for years already – improving customer retention and driving their global domination of online sales. Our own Takealot must be paddling hard to catch up.
AI is also revolutionizing operations management by identifying patterns and anomalies in data, helping optimize performance and reduce costs. Global courier company UPS uses AI to optimize its delivery routes, delivering significant savings in fuel and time costs. I’m pretty sure our own Checkers 60:60 does too.
Rapid improvement in AI-powered chatbots is also making them increasingly popular for improving customer experience. Way back in 2016 Absa announced their chatbot to reduce the bank workload and improve customer satisfaction.
The potential for AI as a business tool is significant. It can help to eliminate boring repetitive tasks in marketing, operations management, and customer service, allowing entrepreneurs to focus their attention on the more strategic aspects of their business.
What’s the easiest way to make your first step into AI? With new applications being launched daily, perhaps the question to ask is, how can it help me?
Here is the link to ChatGPT – hop on and head to the playground. You might be surprised at how simple it is to use.
