AI has been the hottest thing in the neighborhood for the past couple of years. Everyone talks about it and celebrates the capabilities it offers. Yet, as an owner or executive of a small or mid-sized business, you are probably still wondering how to integrate AI into your business. Well, no need to look further. Here’s a comprehensive guide to help you get started.
What is AI?
Now, before we dive into the details of integrating AI into your business, let’s get clear on what AI actually is.
The term Artificial Intelligence (i.e., AI) has been used very loosely with the recent technological advancements we’ve seen with compute power and data processing. This article on Coursera has a good definition for AI:
“Artificial intelligence (AI) is the theory and development of computer systems capable of performing tasks that historically required human intelligence, such as recognizing speech, making decisions, and identifying patterns. AI is an umbrella term that encompasses a wide variety of technologies, including machine learning, deep learning, and natural language processing (NLP). “
In a nutshell, AI is an idea we have been pursuing for decades, where machines are capable of replicating human intelligence.
Demystifying Current AI
The tools and solutions we have been conditioned to call AI in the past couple of years are mainly machine learning and large language models (LLMs) that are not true intelligence.
Yes, the current models have the capacity to “learn” and “improve”. However, they are still constrained to two components that have been critical aspects of any information system or tool since computers came into being – the input data (garbage in, garbage out) and the code (logic) itself.
Think about it. If what we had was real artificial intelligence, would OpenAI and other companies have to release new versions of their models? Would they even need to have analysts and developers at all?
AI is a marketing label that makes all those various solutions look fancy and sexy.
Similar to blockchain and electric cars, the AI hype is just this – a hype. And soon, we will see many of the solutions disappear, and LLMs will be where they belong – in the limited use cases where they provide value.
So, with this in mind, let’s move on and explore how to integrate AI in your business.
People, Processes, Technology
Chances are you have already heard this and might have even read it in some of our previous blog posts. Yet, here it is again.
When it comes to building a thriving business, it’s people first, processes second, and technology last. And this applies even when the technology is AI.
The first thing you should do when implementing AI is to remember or realize that technology, even AI, does not miraculously improve things. If your processes are broken, digitizing or digitalizing them will not help.
Further upstream, if you don’t have the right people in the correct positions doing the right things at the right time, AI will not change anything for your business. The only thing it can do is help you fail faster.
So, to start the process, ask yourself the following questions in this order:
- Do I have the right people in the correct positions doing the right things?
- Are our processes working well and optimized?
- Can we digitize or digitalize any of our processes to help with growth?
If you answer “yes” to both questions 1 and 2, then, and only then, you can proceed to the third question and explore use cases for AI.
Exploring AI Use Cases
Let’s say you have the people and the processes, and you are ready to focus on technology to automate and accelerate growth.
How do you choose what to invest in?
We already covered how to choose the right software in a previous blog post, which you can read here. These steps apply to AI solutions as well.
Additionally, there are currently a couple of main use cases, in general, for the existing “AI” solutions.
Accelerating Productivity
The main benefit of automating and using the existing LLM solutions is the increase in productivity you can see for yourself and your team.
Whether you use a built-in solution such as Copilot, which can help you write emails faster, for example, or opt for ChatGPT as your assistant, these tools can save you time and enable you to analyze information faster and quickly prepare marketing or sales materials.
The so-called AI tools are ultimately automation, and automation does help us process things faster and increase output.
Chatbots
Now, a second use case for LLMs is something we are all painfully familiar with – chatbots.
Should you invest in a Chatbot as a small or mid-sized business?
Depends. While there are valid use cases for chatbots, we at Leficomp genuinely believe that we should automate the mundane so that we can humanize the exceptional.
And your interaction with your customers or prospects is mainly exceptional.
One way we, small and mid-sized businesses, can differentiate from and even gain an advantage over the big corporations is by having a direct open line where, instead of dealing with bots, our customers and prospects reach a human being who can help them in no time.
Your Use Cases
Now, when it comes to your business, the first thing to focus on when exploring how to integrate AI into your business is your strategy and BHAG.
Where is your business going?
What Big Hairy Audacious Goal are you working on?
Only once you center your thinking on your company’s mission, vision, values, and BHAG should you proceed with exploring AI use cases.
Yes, maybe there is an opportunity to implement a new solution to help your marketing specialist.
Yet, the fact that everyone is doing something does not mean that you should be doing it as well.
There is actually great power in zigging when everyone else is zagging.
So, start by actually looking at your own business and exploring what makes sense for you and your team and company. You can do this on your own or with your team. Or, if you need expert support, our Thrive360 Business Solutions can provide a roadmap for you and even support you as you implement your AI solutions.
Whatever path you choose, starting with your business in mind is essential.
Then, you can explore solutions, try a POC (proof of concept), and systematically implement AI solutions that enable your business.
And, remember, when you integrate any new system into your business, consider the total cost of ownership:
- How much will it cost you to maintain and even continue to develop the solution?
- How does the new solution integrate with your existing systems?
- What data & privacy considerations should you consider?
Mistakes to Avoid
Similar to the use cases, there are a couple of main mistakes you should avoid:
- Automating the human interactions. Yes, there is room for AI and automation in everything you do. Even when it comes to the interactions you have with your prospects and clients. We all have automated e-mail sequences that provide value and move leads on the path to becoming paying customers. Yet, these can go so wrong. I just saw an automation where a bot solution responded to every comment on a social media post with something along the lines of “Thanks for requesting the material. Check your DM.” Even to the comments that didn’t actually request the materials! So, be very, very, very careful when automating human interactions. Try to keep most of your communication human-to-human.
- Relying on AI tools 100%. Using ChatGPT to write a marketing campaign is so tempting. Or summarize the notes from a meeting. However, this is an LLM. It’s programmed to write the next most likely word based on probability and the vast amount of language examples it has. That’s why it can’t tell you the correct number of letter “r” in the word strawberry. So, whenever you use any LLM, remember that a human being, an expert human, needs to refine the output and make sure it makes sense. Even 2 years after ChatGPT was released, it’s still just a decent assistant. You still need to add your expertise to make sure the output is valuable and relevant.
AI & Your Business
Should you explore “AI” solutions for your business?
Sure.
Like any other technological advancements, the LLMs can be useful, especially for small and mid-sized businesses.
Just don’t get swept up by the hype. What marketers call AI is not really Artificial Intelligence.
Start with your business.
- Where are you going?
- What are your goals?
- What are your needs?
- Do you have the right people?
- Do you have the right processes?
Only after you answer all these questions, feel free to focus on technology and explore the current AI solutions out there. The solutions that align with your company’s aspirations.
And if you would like even more insights on AI and everything business directly in your inbox, we would love for you to join our bi-weekly newsletter: Thrive & Empower 360.
