as Sam Altman Since his chaotic ouster, when he joined Microsoft and OpenAI appointed yet another CEO, technology has continued to advance at an increasingly rapid rate. Those outside the tech industry conversation, including small business owners, are often left behind and at a competitive disadvantage. Their competitiveness is about to change for the better.
A mainstream shift occurred in November 2022 with the release and introduction of various generative artificial intelligence tools and products. ChatGPT has become a buzzword in boardrooms, social media, and dinner parties around the world, ushering in an AI divide that is entirely dominated by a fraction of the population. Some people embrace this technology, some are cautious, and everyone else is apprehensive.
Since then, global technology providers such as Intuit, GoDaddy, and Zoho have been eager to accelerate AI-enabled products and services that can make an impact, especially GenAI.
What impact will AI have on small and medium-sized businesses?
Intuit President and CEO Sasan Goodarzi, interviewed on the podcast, said: “AI will usher in the next seismic shift in technology, driving the greatest innovation since electricity and the internet. And generative AI is transforming the way humans interact with computers. ''He says the company's deep data has enabled him to build a DNA culture. “We are now expanding our platform to include his Intuit Generative AI Operating System (GenOS), a unique feature that enables Intuit engineers to design, build, and deploy groundbreaking GenAI experiences. We are expanding.”
But despite all this investment, a recent GoDaddy survey found that only 33% of small business owners can explain what GenAI is, leaving many entrepreneurs confused or unsure. and are lagging behind. Look, you're not alone.
Among small business owners, only 11% of respondents use generative AI tools in their business, and well over half (57%) are interested in using AI tools. There is an educational divide regarding the best way to implement this new technology.
While many companies have introduced a number of new AI tools and products, it is more important to educate business owners and consumers about the depth of these new tools.
“At GoDaddy, we have dedicated our entire team to helping entrepreneurs and small business owners bring generative AI to business,” Gaurav Pani, GoDaddy’s Chairman of the Independent Party of America, said in an interview. . “Educating these capabilities so they can level up and compete is critical to the success of small businesses.”
It's not an AI problem.that's what we can do for you
Raju Bejesna, COO and Chief Evangelist at Zoho Corporation North America, who I spoke with at the Zoholics Conference, believes that the technology industry and ecosystem seem to be more excited about GenAI than the average SMB client. “Instead of wasting time trying to help users understand the benefits of AI, you can start reaping the benefits of technology when people have no idea or are aware that you are using AI. This level of invisibility bodes well for technology adoption. If you have to use buzzwords all the time, this usually means you're early in the cycle. ”
He believes that real innovation is ahead of us and that real-world use cases will start trickling down over the next few quarters and years.
Zoho's strategy is also evolving in the direction of where we think the hockey puck is heading, with the contextual integration of AI and other enabling technologies across a variety of products for the benefit of SMBs. “It continues to be our goal to help users be more productive and benefit from the applications that are core to their daily lives. It’s not about doing it.”
When I talk to small businesses and entrepreneurs, they all want help growing without the need for technology. A big fuss. Goodarzi agrees about Intuit's development:[small businesses] Which products and services to sell more of, how to optimize prices, how much to invest in marketing, which channels to invest in, how much money to raise, when to pay back, when to pay back. know about it and take action. It's time to buy more inventory and hire more employees. ”
To reduce education disparities, GoDaddy launched a free AI prompt library to provide small business owners with guidance on how to leverage AI to grow their business while saving time. Curated to address common themes that business owners need to stay competitive in today's business environment, this library is a useful addition to any small business owner's toolkit, and is a useful addition to any small business owner's toolkit. You can learn how to use it to help almost any area of your business.
The AI Prompts Library also provides instructions on how entrepreneurs can use chatbots such as ChatGPT, Google Bard, and Bing AI. GoDaddy is actively working on creating a self-service platform that allows customers to use these tools together without having to log into a separate chatbot.
In addition to the prompt library, GoDaddy has launched a variety of AI-powered products created with business owners in mind. According to his Spring 2023 study from the Venture Forward research initiative, marketing is one of the biggest challenges entrepreneurs face when starting a business. That's why they designed his GenAI tools to help entrepreneurs save time on tasks like responding to customer messages, building websites, writing product descriptions, and creating Facebook and Instagram ads. built.
AI will become even more impactful with platforms like Intuit that can provide a broader understanding of the company. “We look at all the money coming in from you, we look at the customers you serve, we look at the vendors you serve, we look at all your employees. What we have. So there's a lot of data that we have access to. We're leveraging that data to really help them make decisions,” Goodarzi said.
Responsible AI practices
Although GenAI is a useful tool, it also has limitations and challenges. To educate small business owners, GoDaddy has created a resource guide that details the risks of her AI chatbots and how to use the technology responsibly. This guide addresses concerns such as information that is inaccurate, misleading, or outdated in nature. Bias in AI and chatbots. data privacy; plagiarism; intellectual property; potential for real-world harm. Environmental impact. Possible AI addiction or overdependence.
Many vendors are jumping on the AI bandwagon, but fundamental aspects such as privacy and transparency must not be ignored. Zoho's Vegesna agrees. “We believe context, privacy and value remain the key tenets of our AI strategy, so we make sure our customers know what’s at stake.”
Educating entrepreneurs and consumers about the pros and cons of GenAI will continue to be a hot topic, and providers are developing a balanced approach to help people make thoughtful decisions about whether to use these new tools for their business. You need to provide the insights you have gained.
level the playing field
Technology providers are beginning to realize that small and medium-sized businesses lack the time and resources to effectively use data to tailor products and find and engage customers. Large companies have teams of developers, copywriters, and marketers who create strategic language to capture the attention of their target audience, and generally analyze data to understand what their customers want. You have access to more sophisticated tools for understanding.
GoDaddy believes that GenAI democratizes access to this information and that by using this technology, small and medium-sized businesses have the resources to provide accurate information gleaned from vast amounts of data to drive their business forward. I think it can be used to Empower by GoDaddy curriculum is continually updated. This is a global social impact program that supports historically overlooked entrepreneurs with small business workshops and self-study curricula. One-on-one and group instruction and coaching. support network. We also provide comprehensive services such as childcare, transportation, and technology to eliminate barriers to participation.
I looked into one of their customers, Ade McCray, based in Phoenix, Arizona. He is the founder and CEO of his Pilates King LLC and an alumnus of Empower by GoDaddy, where he learned how to use ChatGPT and other AI tools to help him create business plans. . In an email exchange, McCray said: “Empower has been the most helpful when it comes to advertising. I learned best practices when using GoDaddy Studio and ChatGPT, which not only helped me solve problems, but also helped me with many ideas I had for my business. It also helped us formulate and fine-tune the
Zoho's approach has been to help small and medium-sized businesses with a suite of tools, right from the start-up stage, when several new platforms have just launched. Vegesna provides some evidence. “Many of our products enable businesses to get started on day one by filing the necessary legal documents through Zoho Start, integrating with things like Zoho Domains to create business websites, and leveraging the mobile-only experience in Zoho Solo. Built to serve you, we help even the busiest independent contractors do their daily tasks on the go.
The winning small business providers are those who recognize that their customers are not tech savvy, don't want to know how things work, are very busy and mobile, and need to mess things up. is. Vegesna said: “LandingPage eliminates the need to know how to code to build impressive landing pages that help businesses grow their online presence. And with Bigin/Zoho CRM, you can create complete landing pages. You can reduce the stress associated with using a page with a suite of unrelated features.'' Intuit's Goodarzi emphasized that GenAI is built into Mailchimp, saying, “The new email content generation solution allows users to You'll be able to create marketing copy that you can easily drag and drop into emails you send to customers and prospects.”
Small businesses are the lifeblood of most economies, and as technology evolves, they must become more competitive to drive growth in a digitally enabled environment. The race is on, and by leveraging his GenAI, Enable Platform has the opportunity to save busy entrepreneurs time and energy while, more importantly, help drive growth, customers, and revenue. You can Goodarzi is betting on that. [AI] This allows us to move from building platform capabilities so that customers can do work, to platform capabilities that do work for customers and recommend decisions to them. Our vision is to become a financial assistant that supports lives in the pockets of our customers and, in turn, creates economic prosperity. ”
For SMBs and GenAI, the sooner the better.