Searching Google? You’ve already used technology that will change future of entrepreneurship
With rapidly changing technology, small business owners might think there is no way to keep up. But one new innovation might just make working easier: artificial intelligence.
But what exactly is AI?
Well, think of it as super-smart technology that can learn, think and solve problems — almost like a human brain — but in a computer. (I actually asked ChatGPT, one of the most widely known AI platforms, to provide me with this definition).
AI in everyday business
Ever noticed how Google always seems to know what you’re looking for? Yep, you’re already using AI! Search engines like Google use AI to tailor search results based on your interests and habits, helping small businesses get noticed online.
Social media was an early adopter of AI. Platforms like Facebook and Instagram use AI to show you posts and ads that you’re more likely to engage with.
Even your inbox isn’t safe from AI.
Do marketing emails seem like they are written by an individual and not just some “bot”?
That’s because AI helps businesses send personalized emails that grab your attention and keep you coming back for more.
Unlock efficiency, savings
But AI isn’t just about making things personalized — it’s also a game-changer when it comes to saving time and money. Instead of spending hours on tedious tasks, small businesses can use AI to do the heavy lifting for them. In addition, AI can be used to provide enhanced customer service with AI-powered chatbots handling customer inquiries and support 24/7, reducing the strain on dedicated customer service representatives.
Whether it’s sorting through mountains of data or finding the best time to send out marketing emails, AI can handle it all in a fraction of the time. And with more time on their hands, small business owners can focus on what really matters — like serving customers and growing their business.
Every industry is going to be unique. Small business owners should be watching for opportunities to use AI. By leveraging AI technologies, small businesses can optimize their operations, improve productivity, and ultimately, save money in various aspects of their business.
AI in legal field
The legal industry is rapidly integrating AI to streamline processes, enhance efficiency and improve outcomes. Companies like Casetext leverage AI to assist lawyers in legal research, offering insights and relevant case law. E-discovery platforms such as Relativity and Everlaw use AI to sift through vast amounts of data, reducing time and costs associated with document review. This doesn’t make lawyers obsolete. Rather AI is a tool that can be used to maximize efficiency and provide the best possible services for clients.
Innovation vs. ethical considerations
Of course, with great power comes great responsibility. As small businesses embrace AI, they need to make sure they’re using it in a way that’s fair, transparent and ethical. That means being upfront about how AI is being used and protecting people’s privacy.
A famous example of the misuse of AI in the legal field is the attorney who drafted an entire argument based on fictional cases generated by AI. While there are dangers, companies have been putting in safeguards to address just these sorts of concerns.
Charting course for AI power
So, what’s next for small businesses and AI?
It’s all about staying curious, adaptable and open to new possibilities. By embracing AI as a tool for innovation and growth, small businesses can carve out their own path in an ever-changing business landscape. Even if small business owners aren’t interested in AI, it’s important to realize competitors might be using it to get a leg up on customers.
As AI continues to progress, small businesses have the chance to lead the charge, become more efficient and shape the future of entrepreneurship.
You might also be thinking, did I use AI to write this column? Nope. I even ran it through an AI checker to make sure. I passed!
Chad Nally served in the U.S. Air Force and earned a bachelor’s degree in history from the University of Great Falls, Montana, and his law degree from Valparaiso University.
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