According to a survey that Pax8 has carried out together with Channelnomics, as many as 96 percent of small and medium-sized companies plan to invest in AI systems during the coming year.
It is positive that such a large part of these companies have seen the great potential that AI holds.
But many of the companies risk being left without the full benefit of their AI investments. This is primarily due to the fact that they have not formulated a clear vision for what they want to achieve with AI, or that they do not have sufficient internal skills for the implementation.
It is a well-known fact that adopting new technology can be both expensive and complicated. Often, only the largest players have the money and capacity to take advantage of new technological opportunities. But AI has quickly evolved into an exception to this rule. AI is now used in all kinds of businesses regardless of size. In Denmark, many small businesses have proven to be flexible and quick to adapt to changes in the environment. This adaptability is a significant advantage when it comes to implementing AI.
Our survey shows that 88 percent have already adopted at least one AI tool. Of these, 60 percent have completed at least one AI project, which has led to positive ROI. These companies have become aware of the potential of AI in terms of gaining competitive advantage. The crucial point is whether the potential is fulfilled.
Optimization with AI
For small and medium-sized companies, AI offers a number of opportunities to optimize operations. With AI, you can strengthen your customer service by automating the first contact with customers who have questions. AI can also support the production of content for use in marketing. In addition, AI can be used to identify patterns in the company’s data, which can lead to decisions being made in the company on a more qualified basis.
According to our survey, 74 percent of small and medium-sized businesses expect AI to help them achieve their business goals. There is no doubt that AI can improve operational efficiency, data analysis and customer contact, just as AI can optimize a number of internal processes.
In order to maximize the usefulness of AI, companies should ask themselves two basic questions: “What data do we have?” and “What is our vision?” These questions can help identify where AI can create the most value. With the right expert assistance, companies can subsequently develop strategies that are tailored and meet their specific needs.
David Treiberg Sales Director for the Nordics and the Baltics, Pax8
Pitfalls and challenges
Despite the many benefits, there are also risks to implementing AI. The technique can be difficult to introduce, and it can require more resources than expected in the typical small or medium-sized company. Therefore, it is important that companies do not try to implement AI systems on their own.
The survey from Pax8 and Channelnomics shows that many companies face challenges such as insufficient infrastructure (42 percent), concerns about data protection and security (38 percent) and a lack of internal skills (35 percent). Small businesses often lack the expertise needed in any technological field and therefore need reliable business partners.
According to the survey, 16 percent implement AI systems entirely on their own, while 58 percent work with a general IT vendor, often in combination with a vendor that specializes in AI solutions. Such partnerships are key to overcoming the technical and operational challenges that AI can bring.
AI is a technological breakthrough that small and medium-sized businesses cannot afford to ignore. If you want to take full advantage of AI and secure a competitive position also in the long term, my recommendation is that you focus on the following:
- Strategic use of data and vision: Get an overview of what data the company has and formulate a vision for what you want to achieve with AI. This will help you to channel the investments where they create the greatest possible value.
- Collaborate with the right experts: Draw on advice and expert knowledge from relevant IT suppliers who can help you implement AI in an efficient and safe way, especially if you lack internal skills.
- Start small and put security first: Start with a pilot project to test AI. You can scale up when you see a positive result. At the same time, keep the focus on data quality and cyber security.
David Treiberg
Sales Director for the Nordics and the Baltics, Pax8
Source: it-kanalen.dk
