The Role of Artificial Intelligence in the Success of SME

Online retail is no longer limited to Amazon, eBay, and similar large companies. Today, the small and medium-sized retailer is muscling in on the e-commerce revolution by selling products through online portals. Deep learning software can help you figure out what your target market wants and offer products they will find hard to refuse. For example, if a customer is interested in shaving systems in a particular budget, the AI-based search engine might show suggestions of different varieties of the same product, in the same price range. 

There are many other examples where AI can help connect the small online retailers to their target audiences. And, as software solutions grow smarter, they will allow the retailers to sell products that the customers actually want instead of pushing goods and services through advertisements alone. 

The ability to create demand is of extreme importance for small business owners because they don't have the massive marketing budgets of their larger counterparts.

Artificial Intelligence has effectively changed the way that companies deal with their customers. In fact, it has altered the entire customer experience. Let us take the example of chatbots and see how they have effectively revolutionized customer support today. An artificial intelligence powered bot can conduct multiple tasks such as the following:

o Troubleshoot issues 

o Handle repetitive tasks

o Interact with both actual and potential customers and provide them with essential information

o Deal with a large numbers of customer queries 24/7, without the need for a human presence

o Handle front-line customer engagement

o Help understand actual customer needs and identify complex problems

o Start proactive conversations with the customers

o Save precious manpower resources by taking over many tasks performed by human customer representatives 

Logistics and deliveries had often been the Achilles heel of many small and medium-sized businesses. However, the integration of AI has made it a lot easier to deliver products without any human intervention.

Supply chains have become increasingly data-focused, and the development of highly advanced AI-based algorithms has started gathering actionable insights from this data. Ultimately, the success of e-commerce is dependent on flawless logistics, so that the products are delivered directly to the customers’ doorsteps. 

Here’s an example to put things in perspective: Warehouse management is one concern that many small businesses deal with on a regular basis. Any bottlenecks can lead to unacceptable delays in shipments. Here, artificial intelligence can help to predict the specific points where congestions occur and suggest alternatives to keep the channel open and smooth.

From tracking competitors’ marketing activities to auto-generated emails, AI is definitely the future of the SME sector.

Speak to one of the consultants in Esolutionmate to find out more about AI websites.

Esolutionmate is an IT company based in Adelaide, South Australia specializing in Web Design, SEO, Mobile App & IT Solutions.