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AI for small business

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Research and planningGrowth and change

What is ‘Generative AI’?

In today’s rapidly evolving digital landscape, small businesses are constantly seeking innovative ways to gain a competitive edge, improve their processes, and streamline daily tasks. One such innovation that's been making waves is Generative AI. This revolutionary technology has the potential to transform the way small businesses operate and engage with customers.

Understanding Generative AI

Unlike traditional artificial intelligence models that rely on pre-programmed rules and data, Generative AI has the remarkable ability to generate data, images, text and even videos from scratch, often indistinguishable from content created by humans.

How LLM makes AI more accessible

Generative AI, particularly Large Language Models (LLM), like ChatGPT, have made these technologies more accessible than ever for small businesses. Their natural language interfaces and outputs allow even non-technical users to interact with AI and generate content, making it easier for business owners to tap into the power of AI without the need for extensive technical expertise.

Possible uses of Generative AI

  • Content creation: Generative AI can help small businesses create high-quality, engaging content for their websites, blogs, and social media platforms. It can automatically generate articles, product descriptions and even marketing copy.
  • Image and video generation: Small businesses can use Generative AI to create visually appealing graphics, logos, and videos. This is can be particularly useful for those without access to professional design resources.
  • Chatbots and customer support: Implementing chatbots powered by Generative AI can enhance customer support by providing quick and accurate responses to frequently asked questions, improving the overall customer experience.
  • Personalisation: Generative AI can analyse customer behaviour and preferences to generate personalised product recommendations and marketing campaigns, increasing customer engagement and sales.
Generative AI ‘Do's and Don'ts’

While Generative AI holds immense promise, there are important considerations for small businesses to ensure its effective and ethical use:

Important safety considerations

  • Protect personal Information: Don't include any personal or sensitive information in open-source AI that you wouldn't want to be shared with the public.
  • Avoid identity building: Be cautious about adding information that could be used to construct a detailed profile of an individual.
  • Beware of hallucinations: Generative AI often generates content that is fantastical or incorrect, and it does so with great confidence so be cautious with its outputs.
  • Fact-check and verify: Always verify the accuracy and truthfulness of AI-generated content before relying on it.
  • Watch for biases: Be aware of biases in the training data that AI models might have picked up and strive for fairness in your content.
  • Keep a human in the loop: Remember that while AI can augment your work, human oversight is crucial. Verify the outputs for accuracy and review the entire process from input to output to catch biases or errors.

Generative AI holds significant potential for small businesses, however, it is essential to approach this technology with caution. No matter what kind of outputs you’re using, it’s particularly important to consider quality control, legal compliance, and ethical considerations. By harnessing Generative AI responsibly, small businesses can leverage its capabilities to stay competitive and deliver exceptional value to their customers in the digital age.

Generative AI applications have significant appeal to small businesses due to the open accessibility of these services. Depending on the services they provide, many of these are easily available to use online with minimal or no fees:

  • Microsoft Copilot - a paid AI assistant powered by language models that leverages the Microsoft apps your business uses every day to boost productivity and creativity.
  • ChatGPT - Free online Chatbot Generative AI application that provides a near-instantaneous response to text.
  • Wordtune - Paid Generative AI service that offers text rewriting, a virtual writing assistant, and shortened summaries of visual and text content.

Further resources

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