How AI Can Come To Assistance Of SMEs?
retailciooutlook

How AI Can Come To Assistance Of SMEs?

By Retail CIO Outlook | Wednesday, November 27, 2019

AI has taken over the small and medium-sized businesses by a storm, enhancing each detail and simplifying the manual labor involved

Fremont, CA: Technologies like AI, even though expensive at first, are mainly designed to help humans simplify their tasks, and it has done that efficiently. According to a survey conducted with CEOs of businesses in all ranges, the support for AI accounted to 29.5 percent of CEOs. AI has earned trust with time, and several big names like Bill Gates and Elon Musk are a few of its supporters. But along with devotion, apprehension has also followed suit.

• Online Retail:

Ever since AI is released, the small and medium-sized businesses that also sell their products online have employed the technology to deliver better results for their individual needs. AI has penetrated all branches of industry, benefitting the retail sector at large. Among the many applications, product categorization is one of the examples where AI assists in re-ordering a range of products into its respective categories. Retail encompasses a large part of predictive analytics and machine learning to customize accordingly. AI, along with augmented reality, is not only making a difference, but it is also giving many retailers an upper hand over others.

• Logistics:

With the arrival of AI, logistics has become much accurate; the accuracy ranges to a level where goods are delivered without any human intervention. The supply chain is focused more on data, and the algorithm is as good as the data leveraged.

Warehouse management is one of the major concerns in the field that businesses have to deal with. But, AI has given a new meaning to the process at present. The technology focuses on predicting where the congestion is most likely to occur.

AI Is the Future:

AI enhances productivity and reduces manual work when viewed in this sense; technology is necessary for small businesses to use artificial productivity. AI is also helpful in marketing and especially while designing a budget for churning out the data to carry insights. Automated emails are triggered by the activities in Gmail accounts as well, and analysis of the reply is also conducted. AI supports small business sense by providing an edge over the competitors by tracking everyday activities and strategizing steps related to marketing.

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