Implement AI in your SME without impacting the budget

There’s no denying that artificial intelligence (AI) is here to drastically changed the way we perceive the world. Therefore, more and more companies are adopting this technology to optimize their processes and make informed decisions.

AI is here to stay. It is crucial that entrepreneurs –including SME owners– incorporate it effectively to boost their businesses’ growth. “All these systems are nothing more than new tools that allow us to do things in a different way, seeking efficiency, to make jobs easier,” explained Wilton Vargas, executive president of Webnéticos, a collective that pursues to promote innovation, creativity, and the power of the internet.

The expert pointed out that these technologies are not “band-aids,” a panacea or magic solutions to solve a business’s basic problems. However, if used correctly, they can transform key areas within the company.

Where to implement it

AI-based tools can, for example, help with repetitive tasks, thereby improving productivity and efficiency. They also allow employees to focus on strategic and innovation-based tasks.

A study published by McKinsey Digital, a firm that helps its clients use technology to transform their businesses, showed that employees spend between 60% and 70% of their time on repetitive tasks.

AI can be applied in many areas, such as:

• Customer service: Through chatbots and virtual assistants
• Administration: Email management, appointment coordination, and billing tasks
• Data analysis and processing
• Accounting
• Report writing
• Personalized marketing campaigns

In fact, this list was provided after consulting ChatGPT’s artificial intelligence.

Is it expensive to adopt this technology?

The key aspect that an SME must understand is that implementing new AI tools should be a well-thought investment. There are free services or low-cost plans that allow entrepreneurs to begin venturing into the AI world without making a huge investment.

Some of the most accessible tools for beginners are:

• ChatGPT from OpenAI
• Copilot from Microsoft
• Gemini from Google
• Apple Intelligence from Apple.

However, implementing these tools “is going to have a cost, whether it be in terms of time (in searching, learning, and implementation), money, or our data,” explained Vargas, who is also editor-in-chief at Tecnético, a portal specializing in technology.

Practical advice

While it’s important to choose the right tools for your business, it’s also essential to learn how to use them effectively. Therefore, Vargas recommended:

• Prompt engineering: “We have to be as specific as possible because otherwise we will spend hours in front of these systems trying to get them to do what we want.”
• Independently verify the AI’s response: “It’s important that when using these systems, we don’t accept the result as the truth. We must verify the information.”

Business changes

Implementing these technologies not only optimizes processes but has also transformed the way in which entrepreneurs perceive their businesses. For example, a survey published by Microsoft, in March 2024, revealed that 61% of the 100 participating SMEs regarded AI’s impact on productivity as being positive.

AI offers small and medium-sized companies the opportunity to improve their competitiveness, even to compete with large companies in the marketplace. By being able to automate certain tasks, employees can focus on innovating and generating new opportunities for expansion.

In addition, by using these tools, SMEs will have the ability to create unique and personalized experiences for their customers, generate valuable content, and differentiate themselves from their competitors. “I want to emphasize that people should not let themselves be impressed by AI. This is just a new way of doing things. That’s what it is, nothing more and nothing less,” Vargas the specialist said.

Myths

One of the most common myths that the expert seeks to debunk is the perception that AI will replace humans at work. Despite how powerful these technologies can be, they still don’t have the capacity to replace creativity, judgment, morality or personal experience.

As we know today, artificial intelligence is nothing more than an advanced language prediction system designed to process and generate responses based on data patterns, the computer scientist explained. “The myth that artificial intelligence is this thing that nobody knows what it is, must be removed from our minds. It’s not a ghost or an alien. They are language prediction systems that are super-efficient and super-versatile, and that can be applied to practically all human endeavors,” Vargas pointed out. He also emphasized that, to eradicate these myths, we must avoid talking about these technologies by attributing human abilities to them.

 

 

This content was written and/or produced by the GFR Media BrandStudio team for Popular.

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