Every time we pick up our phones and start scrolling, AI is behind everything that is presented to us in the algorithms used to determine what we like and dislike. It dictates our weekly shop, and of course businesses are now adopting the technology from website chatbots to backend operations.
Once you start researching more the whole technology can seem overwhelming, so how do startups start navigating this ecosystem?
One key is to really know and understand what your aim for using AI is? As your business is in its infancy and looking to gain market share, what specific elements of AI might be of most benefit? Today AI is often referred to as an “accelerator”, meaning it can get your business growing quicker than the old conventional methods. By using machine learning, data analytics and automation to get to better, more informed decision making leading to far more efficient operations within the business.
As you investigate more about AI you soon realise there are four broadly different types. Machine Learning (training systems to learn and improve from experience), Natural Language Processing (involving Large Language Models to understand and process human language), Robotics (combining AI with mechanical systems) and Expert Systems. Each of these have their own particular value in business efficiencies. It is imperative to identify your needs when considering what AI tools might help you best. Assess your business goals and try to determine what specific challenges you want to address, be they marketing, customer service or operations. Apart from considering usual factors such as usability (through a user-friendly interface) and budget (considering any subscriptions that may be required), make sure you look deeply into the possible integration capabilities. If you have been operating already you might have some legacy systems already in place. Can your choice of AI seamlessly integrate into that stack or will customisation be needed?
The AI that most people are going to be aware of is probably ChatGPT. This broadly falls under a Natural Language Processor but is really so much more. ChatGPT could be used to prepare a sales email all the way to making profound strategic business decisions. It's up to you how you use it but the more you ask, the more it remembers, and crucially to business the more it learns. By asking ChatGPT what may seem like mundane questions is actually training for the Large Language Model powering it. As each of these questions are inputted you are giving the AI the context for your business, and how it operates, to enable it to respond accurately. It's an incredibly powerful tool for an emerging business to harness.
You may also be thinking of implementing a more comprehensive solution such as HubSpot. Whilst this could be a stretch with emerging finances it does offer a lot that a startup is going to need. Of particular interest is the lead scoring, ultimately leading you to those leads that are more likely to convert based on data available, and its AI driven content strategy to keep users engaged based on search trends and audience interests. Salesforce also provides a similar solution in Einstein, their AI powered element giving access to data driven insights and great levels of automation.
AI certainly has its place with startups and, when used for its intended purpose, can bring huge benefits for the company in its infancy. This is mainly with automating repetitive tasks, analysing and acting on data, and as above by using more accessible AI such as ChatGPT to act as a sounding board for decision making and potentially polishing your brand as the marketplace sees it. But make your decisions wisely and take into account any other legacy systems you may be using to give you the best head start you can possibly have.
