Businesses of all sizes are increasingly looking at artificial intelligence (AI) to assist their businesses for a variety of reasons. While small and medium enterprises (SMEs) can benefit from adopting AI, several blockers can hinder their efforts to achieve successful AI implementation. These challenges can vary based on factors such as limited resources, expertise, and specific industry considerations.
Question: What are the business benefits from Artificial Intelligence?
1
Cost Savings
By automating tasks and processes, SMEs can reduce labour costs and operational expenses. AI-driven solutions can often perform tasks more efficiently than manual methods, leading to cost savings over time.
3
Scalability
AI-driven processes can scale more easily than traditional manual processes. This scalability is particularly advantageous for SMEs as they grow and need to handle increased workloads.
2
Competitive Advantage
Implementing AI can provide SMEs with a competitive edge in their respective industries. AI-powered tools can help them analyse data, identify trends, and make informed decisions faster than competitors relying solely on traditional methods.
4
Personalisation
AI enables SMEs to offer personalised experiences to customers by tailoring products, services, and marketing efforts based on individual preferences and behaviours.
Overall, businesses are turning to AI to leverage technology and redesigning their ways of working. AI was once considered reserved for larger enterprises, but it is now available for businesses of all sizes. By adopting AI solutions, SMEs can enhance efficiency, competitiveness, and customer experiences, leading to growth and success in their respective markets. SME’s are actually better positioned to leverage AI as they are able to adapt quicker and incorporate innovation more effectively than their bigger competitors.
Aim for the TRIPLE WIN and CREATE
CUSTOMER VALUE
Custom Loyalty
Improved Service Quality
Remove Pain Points
Faster Delivery of Existing Services
Improved Service Consistency
Round-the-Clock Availablility
New Services Online Quickly
Enhanced Customer Journeys
Omni-Channel
SHAREHOLDER VALUE
Reputation Hours back to the business Operational Efficiencies Increased Compliance Increased Scalability Increased Adoptability Workforce Flexibility Competitive Advantage Top-Line and Bottom-Line Impacts Quality Improvements
EMPLOYEE VALUE
More Interesting Work Learn New Skills Increased Employee Satisfaction Enhanced Reputation as an Innovator Desirable Place of Work
Question: What are the barriers to entry for AI adoption?
Limited Resources
SMEs often have constrained budgets, making it challenging to invest in AI technologies, hire specialised talent, and allocate resources for training and development.
Lack of AI Expertise
AI implementation requires a certain level of expertise in data science, machine learning, and AI development. SMEs might struggle to find and afford skilled professionals who can effectively implement and manage AI solutions.
Complexity and Technical Barriers
AI implementation can be complex, involving integration with existing systems, data preparation, and algorithm development. SMEs might lack the technical infrastructure and expertise to navigate these complexities.
Resistance to Change
Implementing AI, often requires changes to existing processes and workflows. Resistance to change from employees and management can impede successful adoption.
Risk Aversion
SMEs might be risk-averse due to concerns about the potential failure of AI projects or the fear of disrupting established business operations.
Time Constraints
SMEs often operate with limited staff and time resources. Implementing AI can be time-consuming, and SMEs may struggle to allocate sufficient time for planning and execution.
How to overcome the blockers?
To overcome these blockers, SMEs should approach AI adoption strategically. This includes thorough planning, seeking external expertise, prioritising use cases, addressing data challenges, and considering cloud-based AI services that reduce the need for extensive infrastructure investments. Collaborative efforts, training programs, and partnerships with a partner such as Quanton can help SMEs navigate these challenges more effectively through a combination of strategies and proven experience in successful delivery.
How do they do it? A Bot can...
Access systems via user interfaces
Mimic the actions of humans
Complete activities and tasks
Select from a Library of Business Processes
No Complex System Integrations | No Change to existing applications | No overlap with existing platforms | Works with existing IT architecture
Funding for Services
Quanton help business solve their problems now, so they can power up their growth and decouple it from headcount. We offer innovative solutions for businesses that are more cost effective than hiring additional staff, starting from $1500 +GST per month.
Flexible Pricing Models
By partnering with us, SMEs can leverage their expertise to navigate the challenges of AI adoption, expedite implementation, and maximise the benefits of AI for their business. This partnership enables SMEs to tap into specialized skills and resources that may be difficult to develop in-house.
