How can AI help small and medium businesses in the future?
What do you think about the future? How should we prepare for it? The world is changing. Over the next five years, change will increase exponentially. Regardless, the future is still massively uncertain. What should we do to cope with the changing world? How will we be ready for a change? Even though we can’t predict everything, we must understand well what we can expect.
At PEMAVOR, we appreciate the significance and possibilities of AI. With this article, we’re going to highlight the importance of AI and how it can be helpful in boosting businesses across everywhere.
According to The Future of Jobs Report 2020 from the World Economic Forum (WEF), approximately 85 million jobs will be handed over to artificial intelligence (AI) by 2025. Over the years, the business world is puzzled by one question. Will AI cause job losses, or will it offer new opportunities? Employees are worried, managers are hopeful. The World Economic Forum (WEF) says that robots and algorithms will significantly increase the efficiency of existing jobs. Besides, WEF also says that robots will reduce 85 million jobs by 2025 but will replace them with 97 million new business lines.
AI has defeated human intelligence. AlphaGo, an AI developed by DeepMind, beat the Chinese go champion in 2016. What a milestone! However, the business world has various concerns because nobody knows what they’re going to face. Many companies investigate how to eliminate these concerns, reduce uncertainties, and prepare for the future.
What comes to mind when you think about AI? Most likely robots. Remember the first times with robots in our lives. They were quite surprising. Today we can say that we get used to their presence in the business world. The common opinion is that we are going to cooperate with AI. Of course, there are also opposite views.
Many industries, from restaurants to the automotive industry, use robots. However, not everyone is optimistic. Some people think that robots will create problems, too.
- Will robots take over people’s jobs? That is, will there be competition or cooperation between robots and humans?
To be, or not to be, that is the question!
On the other hand, robotic technology development can boost the labor force. How? For example, digital assistants take over some jobs of secretaries. Therefore, people can save 50 percent of their time. In other words, digital assistants can do these routine, boring, and rule-based tasks on behalf of people.
People who get off their computers can go towards different jobs. They can focus on jobs that require emotional intelligence, empathy, conceptual skills, communication with customers, and human intelligence.
Most businesses around the world prefer AI because they want to speed up their digital transformation processes. It’s a fact that AI will be in the center of business soon. AI will take over repetitive jobs of employees and leave jobs that require human skills. So, managers want to be ready by increasing their competitive advantages with AI.
Some people think that AI will take over people’s jobs. Despite these fears, some people say that AI’s aim isn’t that. The truth is that the effect of technology will accelerate like never before. How will be the next industrial revolution? There are some signs. It seems that we will cooperate with AI. Hence, societies that can realize education and technology together will be able to progress.
How can SMBs benefit from AI technologies in the future?
What are the crucial details for SMBs? Nobody wants to fall behind their competitors. However, everyone wants to achieve success in a short time. Thanks to the digital world and AI, it has never been easier. That means AI can help SMBs in many ways:
- It makes businesses possible to share expertise and knowledge better.
- It improves the decision process.
- It allows new opportunities to add value and creativity.
- It makes businesses faster to catch their competitor.
SMBs often have limited budgets and expertise. However, it won’t be a problem in the future. Businesses will be able to solve multiple problems with limited budgets through AI.
Well, will businesses that don’t use new digital tools become increasingly disadvantaged in the business world? Possibly. We’ll see. However, according to a survey, 76% of SMBs admit that digital technologies shape the business world.
The smarter work you do, the lower cost you will have. With AI technologies, you get more time for creative tasks. When combined with this more efficient workforce, you also have the opportunity to innovate for your business.
Want an example for the future of AI in SMB? Let’s talk about workplace safety. How is it going to affect it? Thanks to AI, there will be no occupational illness. With the development of AI technologies, there will be vital developments in the field of work safety. Most jobs that have a high-risk level and adversely affect employee health will be done with smart machines. Therefore, there will be positive developments in human health and safety.
Moreover, people who invent ideas today in their business will shape the future of AI technologies. Industrial countries working on AI will value-creating new products by incorporating experiences from different disciplines.
Stop being afraid of AI
To sum up, AI developments will liberate employees for new tasks in new areas of work. Also, it will create new business lines based on different human characteristics. Especially, SMBs will be able to reach their targets in a shorter time and efficiently. We know that it’s so difficult to predict the future. However; no need to be afraid of AI because humans are smarter than the things they created.
Uncertainties about the future of AI can make us anxious. Nevertheless, if you want a slice of the cake in your market, you must follow the latest technologies.