Every large company has invested in AI to dominate its markets. Big companies seem to have all the advantages, they have vast amounts of data (critical to AI), enormous investment capital and the capacity to hire talent. Does that mean SMEs have to throw up their hands in despair that they cannot compete? At iTech India, we have been integrating AI for business automation for large enterprises as well as smaller organizations. The difference is that smaller companies choose their battlegrounds more judiciously where they can gain a greater advantage and ROI.
Zendesk CX Trends Report 2022, 40% of small businesses surveyed said that they have the capacity to spend money on AI—but they do not.
There are a few workflows that are ideally suited for the automation of business processes for smaller enterprises. Most SMEs are focusing their AI efforts in these four areas: business operations, customer engagement, talent management and finance. Here is what some of the smaller companies are doing to incorporate AI, either by customizing their solutions or using existing tools.
One of the biggest hurdles for smaller businesses is the necessity to increase human r