Small business owners with limited money, employees, and time may greatly benefit from using artificial intelligence (AI) tools. AI is at work in many aspects of daily life. It is embedded in home appliances, vehicles, and mobile devices. Common daily tasks are supported by AI, helping people to complete these tasks more efficiently and effectively. This is also true for small business owners. Many common tasks and responsibilities can be supported, if not completely handled, by AI tools. Owners must study tools and determine if they are the right fit for their business. Also, owners must avoid common mistakes to use these tools safely.

What is AI?

The Merriam-Webster dictionary defines AI as the capability of computer systems or algorithms to imitate intelligent human behavior. Simply put, AI deals with computers completing tasks that humans could only do previously. AI often carries out these tasks more quickly and accurately than humans. When used appropriately, AI can reduce an employee’s time on common tasks and save businesses money by reducing human errors.

Common AI Terms

Artificial Narrow AI, also called Weak AI, is the only form of AI available today. Weak AI is limited to specific problems and tasks. Some examples of Weak AI include chat boxes, speech and facial recognition systems, and virtual assistants, such as Apple’s Siri, Amazon’s Alexa, and Google Assistant. Self-driving vehicles and systems that recommend products and services are classified as Weak AI.

General AI, or Strong AI, is still a largely theoretical concept. Strong AI can learn, apply knowledge, and imitate human functions. Researchers are still working to create this type of AI in a way that is safe and minimizes risks.

AI Uses

• Create new and edit existing written content.
• Take notes during important meetings.
• Enhance marketing strategies and reach more customers.
• Make images for marketing campaigns.
• Identify customer trends to better market products and services.
• Chat with customers when they visit the company’s website.
• Automate accounting and bookkeeping tasks, such as invoicing.
• Study data and uncover patterns that the human eye may overlook.
• Expose dishonesty or the suspicious activity of employees.

Facts to Consider

Those who use AI tools must weigh the rewards and risks. Though there are many concerns about AI and future abilities, many benefits exist when small business owners balance AI with human ability. Entrepreneurs should consider the following tips when using AI.

• Not all AI tools are safe.
• Caution must be used when evaluating the use of AI tools.
• Avoid sharing personal, sensitive, and private information and intellectual property with AI.
• Hackers can use data that is input into AI tools for fraud and theft.
• You may need consent to record conversations if using AI to take notes.
• Information provided by AI should be checked for accuracy and plagiarism.
• AI tools may not use the latest information.
• Keep tools up-to-date with the latest security.
• Use strong passwords and backup data.

More Information

For more information on small-business-related programs and information, follow the Small Business Café Facebook page or visit the Business and Community section of the Alabama Extension website, www.aces.edu.