How AI is Reshaping Small Business 2022

By: First Union

business-strategy

How AI is Reshaping Small Business 2022

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In its earlier days, AI was seemingly out of reach for anyone but large corporations and conglomerates—that is no longer the case. Even small businesses now have access to AI and its revolutionizing capacity.

Not only are AI-related tools more affordable and accessible, but small businesses across the world are utilizing them to make their companies far more efficient, communicative, and ultimately profitable.

Online Retail

The deep learning facet of AI has certainly transformed how companies approach online retail. Deep learning essentially involves showing customers more of what they want. Gauging needs and behaviors, it helps put the right products in front of the right people. AI is also making product categorization far easier in terms of online retail. It enables businesses to tag products as they need to be tagged and labeled for optimal exposure.

Artificial intelligence has essentially eliminated a huge gap between large and small companies when it comes to online retail. Smaller companies are now on the same platforms and showing up with the same frequency as their much bigger counterparts.

Customer Support

AI has had a massive impact on how small businesses relate to their customers. Chatbots are showing up everywhere enabling companies to keep the lines of communication open 24/7 if they so choose. Such chatbots can interact online with consumers, handle troubleshooting, even deal with more manual tasks. They truly are changing the businesscustomer dynamic.

Marketing

Artificial intelligence has proven a boon to marketers. From streamlining the email marketing process to providing insights from huge amounts of data, such that give businesses a better feel for what their client base is going to respond to, AI is making it easier than ever to develop and launch a targeted and efficient marketing campaign.

At First Union Lending, we would love the opportunity to help your small business grow by way of introducing some key AI tools. You can't afford to keep up with the competition. We can help with our business loan products. Find out what you qualify for!

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