May 19, 2022

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AI In Small Businesses

AI or Artificial Intelligence seems to be one of the biggest buzzwords in business today, with all modern innovation including AI or machine learning in some way. We have all seen the claims of super advanced AI used in large corporations like Metaverse or Amazon, but at the end of the day this provides very little insight into what it actually does.

What Is AI?

AI is a broad term used for many natures of artificial intelligence which runs as a program of sorts. Not to be confused with machine learning, which is a subcategory of AI, allowing it to essentially teach itself new tasks with the correct nature of exposure. The main problem with how computers work is set boundaries of decision. A computer, generally speaking, does not have the ability to make distinctions beyond narrowly set points.

The aim of AI is to allow computers to better make decisions and preform tasks which require human level intelligence. The ability to make a decision that a computer has not been pre-programmed to make is only achievable through the use of AI. For the case of business, there are two main types of AI.

  • Reactive AI – Reactive AI is one of the most frequently used AI in business today. Most good online shops and streaming services use a reactive AI to decide on possible recommendations. This is how Netflix decides what to recommend watching next, and Amazon recommends what else you may be interested in purchasing. Reactive AI specializes in processing huge amounts of date to find trends and rank potential next steps to an ongoing trend. All the data which a reactive AI sees has been predetermined to allow the AI to process it
  • Limited Memory AI – Limited Memory AI is what you may find in self-driving cars and in some cases your phone’s personal assistant. Limited memory AI is created to make decisions beyond predetermined data. The best example of Limited Memory AI is self-driving cars’ ability to read the road when not all the markings may be clear or understand the flow of traffic and other drivers’ intentions.

AI In Your Business

The AI used in large multinational corporations is extremely impressive, but often overkill and much too costly for normal businesses. As a result, the implementation of AI in small businesses has been rare, but there is a place for AI in most businesses. Data capturing and processing of invoices can both be done by a comparatively simple reactive AI, saving the business time and money in staffing. AI is faster, and less prone to mistakes, than the average human. It is estimated that the average AI doing data capturing and entry jobs is 8 times faster than a professional data scientist.

It’s always expensive to live at the edge of technology, and so many assume that AI of any nature will only come at an incredibly high expense. Fortunately, as AI becomes more mainstream, simple AI like the reactive AI which is best used in small business becomes cheaper. Third party AI solutions are incredibly affordable and will, more often than not, save money and time, leaving you with more to spend at Crypto Thrills online casino.

Is AI Right For You?

Third party AI suppliers will often provide free trails of software and even custom suit the software to your business needs. AI can save you time and money, allowing focus on where the business requires it most.