Why Small Businesses Need to Tread Carefully When it Comes to AI
Small businesses who are interested in artificial intelligence (AI) should take a measured approach. Rushing in with a large investment is definitely not the way to go. Instead, it is important to start slow and increase AI efforts over time – if you decide it is worth it.
According to an article in the MIT Technology Review, This is Why AI has Yet to Reshape Most Businesses, AI might eventually transform the economy but it will take longer than hoped. This is especially true for small businesses.
The article goes on to note that most companies aren’t generating substantially more output from AI when you consider the hours their employees are putting into it. Further, productivity gains are largest at the biggest and richest companies, which can afford to spend heavily on the talent and technology infrastructure necessary to make AI work well.
Finally, in many cases what people are touting as AI isn’t really AI at all. According to one expert quoted in the article, only 10% of the work is actually AI, the rest is data extraction, cleansing, normalizing and wrangling.
If you are confused about what AI can – and cannot do – for your small business, LeadGen Compass can help you to figure it out. Give us a call at 402-334-1824 or visit leadgencompass.com to find out more.