{"id":170943,"date":"2024-06-28T06:00:00","date_gmt":"2024-06-28T11:00:00","guid":{"rendered":"https:\/\/ict-pulse.com\/?p=170943"},"modified":"2024-06-27T16:49:12","modified_gmt":"2024-06-27T21:49:12","slug":"the-democratisation-of-ai-and-how-small-businesses-can-punch-above-their-weight","status":"publish","type":"post","link":"https:\/\/ict-pulse.com\/2024\/06\/the-democratisation-of-ai-and-how-small-businesses-can-punch-above-their-weight\/","title":{"rendered":"The democratisation of AI and how small businesses can punch above their weight"},"content":{"rendered":"\n
Artificial intelligence (AI) was once the domain of tech giants and research labs. Today, however, we are witnessing a revolution \u2013 the democratisation of AI. We discuss that term and how MSMEs can leverage AI to remain relevant and competitive.<\/em><\/p>\n\n\n\n <\/p>\n\n\n\n In the last 18 months, we have seen artificial intelligence (AI) go from technology that was only available to large corporations and research institutions to be available to and accessible by anyone with a computing device. It also means that AI tools and services are increasingly within the reach of micro, small, and medium-sized enterprises (MSMEs).<\/p>\n\n\n\n Although having access to AI is great, often MSMEs are using it on an ad hoc basis, perhaps when they have a report, blog or social media post to prepare, and do not necessarily see it as a not-so-secret-weapon of the company team that can help the human team, and by extension the organisation, be more efficient, effective and productive. This is the democratising power of AI, which is the focus of this article.<\/p>\n\n\n\n <\/p>\n\n\n\n Traditionally, AI development and application required significant resources, technical expertise and considerable amounts of data. Its use would thus be limited to large enterprises and research institutions. The term “democratisation of AI” refers to the increasing accessibility and usability of AI tools for a wider range of users, which has been occurring thanks to, among other things:<\/p>\n\n\n\n In essence, the democratisation is making AI a valuable tool for everyone, not just a select few.<\/p>\n\n\n\n <\/p>\n\n\n\n Several benefits can be realised when MSMEs have access and can leverage AI tools in their operations. Overall, AI can be thought of as increasing an organisation\u2019s staff complement and the depth and breadth of the expertise available in-house. Specific benefits include the following:<\/p>\n\n\n\n <\/p>\n\n\n\n Although there are benefits to using AI, they are only likely to occur if the challenges can be managed. Important challenges that ought to be considered include the following:<\/p>\n\n\n\n <\/p>\n\n\n\n Despite the challenges, MSMEs can successfully leverage AI by following these steps:<\/p>\n\n\n\n <\/p>\n\n\n\n The democratisation of AI is a powerful trend with the potential to transform various aspects of society. In the business space, it can level the playing field for MSMEs, allowing them to punch above their weight, and even compete with larger businesses. By embracing AI responsibly and strategically, smaller businesses can unlock new opportunities for growth and innovation.<\/p>\n\n\n\n Good luck!<\/p>\n\n\n\n <\/p>\n\n\n\n <\/p>\n\n\n\nWhat is meant by \u2018democratisation of AI\u201d?<\/h2>\n\n\n\n
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Benefits of AI for MSMEs<\/h2>\n\n\n\n
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Challenges of AI adoption for MSMEs<\/h2>\n\n\n\n
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How MSMEs Can Leverage AI<\/h2>\n\n\n\n
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