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Running a small business is no small feat, and we all know that time and energy are like precious gems. So, what if we told you there’s a clever way to save both?
Yep, you guessed it — with the magic of artificial intelligence (AI). If you’ve never used this kind of software and feel overwhelmed by learning new tech tools, don’t worry. These tech tools can be the sidekick you didn’t know you needed, if you start wrapping your head around the many ways they can be helpful.
Key ways you can use AI
There are numerous ways artificial intelligence can be your secret weapon, such as:
Admin assistance
Tired of drowning in paperwork? AI isn’t just a virtual paper shredder; it’s your admin superstar. Imagine the relief of automating tasks like data entry, appointment scheduling, and even sorting through emails.
One example is MYOB’s AccountRight program. The Live Bank Feeds element in this program uses AI, and it’s estimated that this live feature can save users between 50% and 70% in data entry time. While you sip your tea, AI’s got your back, keeping things running smoothly behind the scenes.
Sales superstar
Imagine if you had a crystal ball that predicted your customers’ next moves. AI can’t predict the lottery numbers, but it can analyse customer data quickly. It identifies trends, predicts customer preferences, and tailors your sales strategies accordingly.
Marketing mojo
Picture this: creating personalised marketing campaigns without breaking a sweat. AI can analyse customer behaviour to suggest the kind of content they’ll gobble up.
HR hero
Ah, the world of HR — resumes, FAQs, and endless paperwork. But wait, AI can simplify all of that. It streamlines hiring processes, helping you find the right folks for your team.
Data cruncher
Numbers, charts, and data overload doing your head in? AI can crunch those numbers. It analyses data trends, helping you make informed decisions without needing a PhD in statistics.
Customer insights guru
Ever wished you could read your customers’ minds? AI comes pretty close. It digs into customer feedback, social media chatter, and even online reviews to give you insights into what makes your customers tick.
MYOB utilises AI to help accountant clients to understand and help their customers better. The firm’s MYOB Advisor is an AI tool that accountants, bookkeepers, and other advisors can use in conjunction with other MYOB programs to glean insights based on their clients’ online files.
Cybersecurity defender
In this online-driven world, proper cybersecurity is crucial for all businesses. Thankfully, AI can act like a digital bouncer, spotting potential threats and keeping your business safe from cyberattacks. Think of it as a tech-savvy guard dog for your virtual storefront.
How to get started with AI
Alright, so you’re probably wondering – how do I actually get started with this tech wizardry? Don’t worry; it’s easier than you think.
Choose wisely
There’s an AI tool for almost every need, so investigate different options and choose wisely. Pick the ones that best align with your business goals, budget, and tech know-how.
Experiment and learn
Try different artificial intelligence tools and see what works best for your business and the way you like to operate.
When it comes to large language models like ChatGPT, play around with different prompts to see how you can refine the answers you get, and remember that the software can learn your business “voice” and requirements over time, when trained correctly.
Integration magic
Most AI tools can seamlessly integrate with your existing software. That means you won’t have to start from scratch – just a bit of tech magic, and you should be good to go. Before you sign up for a tool, though, check that it will work okay with the main programs you currently utilise in your business.
Stay updated
AI and technology are always evolving, so keep an eye out for updates and new features that can further enhance your business operations, or new ways of using current tools. Artificial intelligence is here to rescue you from the daily grind and can be your trusty sidekicks, helping you save time, energy, and maybe even a little sanity.
Start testing out some new tools today so that you can boost your business results sooner.
Information provided in this article is of a general nature and does not consider your personal situation. It does not constitute legal, financial, or other professional advice and should not be relied upon as a statement of law, policy or advice. You should consider whether this information is appropriate to your needs and, if necessary, seek independent advice. This information is only accurate at the time of publication. Although every effort has been made to verify the accuracy of the information contained on this webpage, MYOB disclaims, to the extent permitted by law, all liability for the information contained on this webpage or any loss or damage suffered by any person directly or indirectly through relying on this information.
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