It goes without saying that the largest corporations have a definite advantage over SMBs in just about anything. They are a step ahead of recruitments, they have the resources to grind down smaller competitions in a market segment and they also have the resources to aquire the best tools to help employees to perform better. Needless to say, vendors tends to offer them more attention and prioritize their need over SMBs as well. Does that mean that the SMBs should just roll over and settle for competing on price?
Whenever there is a new wave of disruption, it offers the chance for startups and SMBs to disrupt the market order and outcompete the big players. With the new wave of new technologies coming in now, it is time to act.
The most spoken of technologies are no doubt Artificial Intelligence. Like personal computing was introduced 30 years ago, Artificial intelligence allows the workers to work more efficiently by allowing them to do more and do it faster. As the business application is so broad and the technology is not exactly known to the people masses, being a SMB doesn't immediately put them in a disadvantage position to acquire and adopt to such technology.
The common message of what Artificial Intelligence (Or Cognitive computing as IBM puts it) can do for business is that it automates the following tasks:
- Customer Communication
- Case / Applicaiton processing
- Decision making
This fundamentally solves the problem for SMB and startups when competing with the big players in the market. By adopting to these new technologies carefully and correctly, it allows them to eliminate the disadvantage of lack of manpower and resources.
As Artificial Intelligence is maturing as a technology and the tools from IBM and Microsoft are getting more user friendly, the threshold to use Artificial Intelligence to create value is low and the cost for adoption is affordable, even for small businesses.
Here is how SMBs can grab the chance to overtake the larger competitors at the next turn:
- Define a clear goal for adoption
- Define a clear adoption strategy
- Act fast
- Start small
Before proceeding, it is important to have a clear goal in mind of how Artificial Intelligence should deliver value for your business and how to start. Once the goal and strategy is defined, it is important to start small and get started.
Simplifai being the first holistic AI company in Norway can assist you in all the aspects above, feel free to contact us at email@example.com to get started.