Today, even small businesses can reap significant benefits from AI technologies. Whether you realise it or not, you might already be using AI in your daily operations. Here are five simple and effective ways AI can help your small business thrive.
AI tools like ChatGPT have brought the power of AI into the hands of small businesses. You don’t need to be a tech expert to get started; just experiment with prompts to discover what works best for you. Whether you need to draft an email, create social media posts, or even write code, ChatGPT can handle it. The tool is highly versatile, and with a bit of practice, you can fine-tune its responses to suit your needs. Plus, many SMEs find the free version of ChatGPT more than sufficient for their purposes.
Think AI-powered customer service chatbots are only for big corporations? Think again!
Custom AI chatbots are increasingly accessible to small businesses. Relevance AI, an Australian start-up, provides tools to help businesses create their own AI agents. These agents can automate content generation, conduct research, and even handle business development tasks. By building an AI team, you can streamline your operations and improve efficiency without needing a large budget or extensive technical knowledge.
AI is exceptionally good at handling repetitive tasks, freeing up your time for more strategic activities. Tools powered by AI can manage everything from email automation and newsletter distribution to customer segmentation and personalised communications. Robotic Process Automation (RPA) can handle invoicing and other administrative tasks, saving you hours of manual work each week. If you often find yourself bogged down by routine tasks, it’s time to explore AI solutions that can help you automate and streamline these processes.
AndyBat is Tailored Accounts’ in-house accounting bot.
Tired of taking meeting notes or transcribing conversations? AI tools like Otter.ai can do it for you, capturing audio and providing real-time transcriptions during meetings. These tools offer summaries of conversations, so your team members can focus on contributing to the discussion instead of furiously taking notes. AI transcription tools are compatible with popular platforms like Teams, Zoom, and Google Meet, making it easy to integrate them into your current workflow.
Social media platforms like Instagram, Facebook, and TikTok are powered by AI algorithms that determine which content gets seen. You can use this to your advantage by employing AI tools for social media management. Tools like Canva, HubSpot, Hootsuite, and Sprout Social can help schedule posts, monitor brand mentions, analyse audience sentiment, and even predict the virality of your content. By using AI, you can enhance your social media strategy, save time, and improve your engagement with customers.
The barrier to entry for using AI in your small business is much lower than you might think. As Andrew McMullan, Chief Data and Analytics Officer at CommBank, points out, “You don’t need to understand AI to use it.” Many large organisations have made significant investments to make AI tools accessible and user-friendly. Australia’s National AI Centre (NAIC) offers free resources, including government-funded scholarships for an Introduction to AI course through TAFE, tailored to help small businesses like yours get started with AI.
Embrace AI, and you’ll find it is like having a game-changing assistant. Whether it’s automating tasks, enhancing customer service, or boosting your marketing efforts, AI offers numerous opportunities to grow your small business. So why wait?
Work smarter, not harder. Start exploring these AI tools today and unlock new possibilities for your business.
Navigating the world of work expense deductions can feel overwhelming, especially with a mix of outdated advice and persistent myths. With the 2023–24 income year coming to a close, it’s more important than ever to separate fact from fiction. Whether you’re looking to cash in on the latest guidelines or avoid falling for persistent myths, this article will arm you with the knowledge you need to make the most of your deductions — without stepping on any tax-time traps.
Operating from a commercial premise? Your business may be eligible for up to $13,000 in rebates and technical advice.
Register now for a free onsite assessment and learn how your business can start saving.
From 26 August 2024, a new pathway will be introduced for eligible casual employees who wish to transition to permanent employment, replacing the current rules. This change is designed to streamline the process and make it more accessible.
Here’s what you need to know.
