Summary: AI is a powerful tool that businesses can use to improve efficiency, drive growth, and stay competitive. Ignoring it could be a serious mistake.
Every few years something new comes along in tech that makes waves and generates headlines but for smaller businesses, often such developments can take years to filter down. In the case of artificial intelligence (AI) though, applications powered by the technology are already widely available and businesses in Ireland may be wondering how this new development can help them?
What is AI and why has it become a buzzword?
AI refers to the use of computer systems to perform tasks that typically require human intelligence. These tasks include learning from data, recognising patterns, making decisions, and even understanding natural language. The most common AI systems, such as those used in virtual assistants like Apple’s Siri or in recommendation algorithms on Netflix, rely on vast amounts of data and advanced algorithms to operate.
AI itself has been around for quite a long time but in recent years it’s taken a major leap forward, fuelled by large language models like ChatGPT that allow computers to interact with people using natural language. In addition, other improvements are allowing AI systems to improve their performance over time without explicit programming.
Taken together, these systems are able to automate complex processes, generate insights from massive datasets and personalise customer interactions in a way that wasn’t really possible before.
What can AI do for business?
How does AI improve efficiency?
For small businesses, AI offers the ability to help you and your employees operate more efficiently and make better decisions. For example, many small businesses spend a significant amount of time on routine tasks like data entry, scheduling, and customer inquiries. AI can automate these processes, freeing up valuable time for employees to focus on more important activities.
AI Chatbots for Customer Service
Chatbots powered by AI can handle common customer queries outside office hours, reducing the workload on customer service teams. However, ensuring that employees are still available to assist with more complex or specific customer queries is still important. Some customers may simply prefer to speak with humans rather than AI, too, so ensuring the option is available is important. Ultimately, though, allowing AI chatbots to handle simple queries and issues will help to save employees’ time and allow for more tasks to be focused on overall, improving business efficiency further.
How does AI improve efficiency?
AI can also analyse large amounts of data quickly and accurately, providing insights that might be missed by human beings. For instance, AI-driven tools can help small businesses predict sales trends, optimize inventory levels, or identify potential customer segments based on purchasing behaviour..
AI Personalisation
Personalisation is key to building strong customer relationships, and AI excels in this area. By analysing customer data, AI can help businesses tailor their marketing messages, product recommendations and even pricing strategies to individual customers' preferences.
If these business advantages of AI sound enticing to you and your business, then good news is at hand.
Microsoft Copilot: a practical example for
small businesses
One of the most accessible AI tools for businesses, especially those already using Microsoft’s suite of software applications, is Microsoft Copilot. This AI-powered assistant is integrated into Microsoft 365, Dynamics 365, and other enterprise applications, and can help you automate some of your existing workflows, all within applications that you’re probably already familiar with.
AI-Assisted PowerPoint Presentations & Word Documents
Microsoft Copilot can assist in generating content for Word documents or PowerPoint presentations. If you need to create a report or a proposal, Copilot can help draft it based on a few prompts or existing content. This can significantly reduce the time spent on document creation and ensure that the output is both professional and consistent.
Microsoft Excel AI Integration & Automation
In Excel, Microsoft Copilot can automate data analysis, generating reports, creating visualisations, and even forecasting trends based on historical data. This allows small businesses to make data-driven decisions without needing a dedicated data analyst on staff.
Microsoft Teams AI
Within Microsoft Teams, Copilot can summarize meetings, track action items, and assist with scheduling, ensuring that teams stay aligned and productive. It can also help manage emails in Outlook by drafting responses, prioritising messages, and setting up follow-up reminders. This takes a lot of minutiae out of a workday that can otherwise add up quickly, again freeing up employees to devote more time to higher priority tasks.
Dynamics 365 AI
For businesses using the customer relationship management (CRM) application Dynamics 365, Copilot can analyse customer interactions, predict sales outcomes, and offer suggestions for personalised marketing strategies. This can help small businesses manage their customer relationships more effectively and drive sales.
The importance of human oversight for AI
While AI offers numerous benefits, it also presents risks that businesses need to be wary of. One of the main concerns is the potential for AI to make mistakes, particularly if the data it’s trained on is biased or incomplete. For example, an AI system might generate inaccurate predictions if it doesn’t have access to the right data, leading to poor outcomes.
So while AI can be a powerful asset in the workplace, it needs to be overseen by people who know what it should be doing and what it shouldn’t. There are risks associated with over-reliance on AI and decisions that have significant consequences, such as hiring, pricing or customer service strategies, should always involve human judgment.
AI should be seen as a tool that augments human capabilities, not a replacement for human decision-making. Moreover, small businesses need to consider the ethical implications of using AI. For instance, using AI in ways that invade customer privacy or lead to unfair treatment could damage a business’s reputation and lead to legal repercussions.
However, when utilised and supervised correctly, AI integration can lead to exceptional efficiency and customer service benefits for your business. With advances in AI seemingly only accelerating, riding the wave of AI momentum could be what your business needs to reach the next level.
Whether you’re already with us at Vodafone Business or considering joining us, our Vodafone Microsoft Specialists are ready to talk with you and your business about the benefits that Microsoft Copilot can bring you, as well as our range of other Microsoft solutions. Call us on 1800 590 590 for more information, or get in touch via our contact form to chat with our Specialists today.
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