Six AI Applications For Startups And Small Businesses
By Kamal Jacob
Who says Artificial Intelligence is just for the biggies in the industry?
AI tools are an excellent way to achieve magnificent growth for SMEs too. They enforce small businesses to effectively hand over conventional tasks to be done by wacky yet agile models and virtual assistants that allow employees to fully focus on other brain intensive tasks and creative opportunities that can help companies reach greater heights.
Say, Startup X has access to proprietary data, read exclusive data, and the ability to acquire and use this data to continuously improve their product in real time.
The propriety data gives the machine learning model much needed uniqueness and skewness to get closer to results through human efforts, allowing them to stay ahead of the curve and develop much better products than their competitors.
Startup X is smart.
Be like Startup X.
Applications for AI have been in the town for quite some time now, like the ones for Sentiment analysis, Stock price prediction, Customer churn out prediction, well, you get the point. Let me take you to another dimension of AI Apps. So, here goes the list:
1. Recruiting Automation: Hiring process is a smooth sail now
Don't we just hate it when we lose a promising candidate to our competitors, especially when we have just a handful of resources?
Recruitment of qualified workers has now turned into a “Who can bring me the secret formula for Krabby patties first?” challenge. It’s really difficult to get all-rounders as your new recruits for your just born startup and when you find one, you better make sure that they aren’t lying.
How can your small business compete with talent-eating machines like the ones who are at the top of their games? Harnessing the power of recruiting automation, savvy employers are using AI-powered sourcing tools to find candidates who are not just the right fit for the company, but also talented enough to teach your baby company to walk and run and even dance along with its big and macho brothers (the established companies) without much struggle. Wish to invent such an app? Do the shubh aarambh.
Example app: eightfold.ai
Talent Intelligence Platform is the new black, er, I mean new block for HRs to hang around. With the transformational power of Eightfold.ai, companies can finally pursue a comprehensive talent strategy. AI insights show employees how to grow within a company, so they’re more likely to stay and thrive. Potential-based hiring increases diversity and shows every employee why they belong.
2. AI virtual assistant: The time saviour
Startups and meetings are like Vada and Pav, they go hand-in-hand. While meetings do bear the fruits, they can also be a serious drain on your time. Don’t want to be the bellboy for meeting invites with your colleagues anymore? Fret not. The Hyper intelligent reasoning engine in these virtual assistants helps people make the most out of their schedule and keep track of their crucial conversations and learns exactly when, where and how long you like to meet.
Why not put our OG Alexa into work, but this time in an office environment? The assistant integrates with unlimited calendars, allowing it to check availability, suggest appropriate meeting times, and interact with participants if schedules change.
Example app: Alexa for business
Alexa for Business is a managed service with a set of management tools, APIs to integrate with existing IT applications and infrastructure, and the Echo devices themselves. This AI automates meeting schedules, confirmations, and follow-up for businesses. It’ll even reserve a conference room.
3. Cybersecurity to the rescue: Vulnerability is passé
The last thing that you would expect is a cyber-attack to your dear startup by the evil spirited who turn green with envy because of your success. As cyberattacks grow in volume and complexity, artificial intelligence is helping under-resourced security operations analysts stay ahead of threats.
Scavenging threat intelligence from millions of research papers, blogs and news stories, AI provides instant insights to help you combat through the hustle and bustle of tons of daily alerts, drastically reducing response times much needed for startups since they are considered as easy targets for cyber-attacks.
Example app: Hunters.ai
Hunters.ai has a perfect approach to fight these attackers. It provides real-time updates on Attack Intelligence and continuous automation with a company’s existing security data. Hunters.AI generates and delivers visualized attack stories allowing organizations to more quickly and effectively identify, understand, and respond to attacks.
4. Market Intelligence: I see rich people
There was a time when one would rely on Business intelligent tools for market analysis. Wait, you say it is still relevant and prevalent? But now that we are in an era where AI is the new electricity, we can’t just do away with Descriptive and Predictive analytics. Prescriptive analytics is the key to modern age analytics. The traditional applications like personalization, intuitive workflows, enhanced searching and product recommendations, etc. can chill now.
Market intelligence is here to understand your customer base like no one’s business. AI solutions for deep market analytics deliver a trusted, unified view to get an accurate understanding of how many customers you have and all of your interactions with them which make auto-generated marketing campaigns of customer behaviour possible.
The AI tool features ranges from behavior-based visual workflows and dashboards to cross-channel marketing automation which deliver information on the most effective campaigns with data on all customer actions. Sounds interesting? Get a head start in AI through these immersive tutorials.
Example app: Tamr
Although not as popular as the toddler Taimur, Tamr is much more versatile than you can imagine. It chose Spend Analytics for the job. Fuel your sourcing strategies and supplier negotiations with an accurate, classified view of your spending that stays up-to-date. It aligns disparate data sources to a unified schema, guided by recommended mappings as described in the dashboard below.
5. IT operations- Meet the latest “Ops” in the street: DataOps
We have established why data is important, especially for startup companies, remember Startup X? Data continuously enters on one side of the pipeline, progresses through a series of steps and exits in the form of reports, models and views. The data pipeline is the operations side of data analytics.
DataOps demolishes the silos across IT operations and software development teams, so that business stakeholders could finally see who the data engineers, data scientists and analysts are and work with them.
Meanwhile, AIOps platforms be like, Am I a joke to you? Well, you can wait for some time, buddy, while we take a dive into the world of DataOps for now.
Example app: Piperr
AI for Enterprise Data Integration: Piperr is a suite of ML-based apps
for enterprise data operations, to enable AI readiness faster and smoother. It provides the necessary tools to tame data chaos within an enterprise. When multiple stakeholders want to have a say in the data, use Piperr to connect IT, Tech, Analysts, ML Engineers to LoBs and eventually to widgets for users.
6. Proactive mental health management: Keep calm and chat on
Startup companies need to interact with their employees to find out their happiness quotient, because rumours of mental health issues of an employee don’t take long to spread in a workplace with people who could hardly cover seats of a cricket stadium. From the eruption of online communication channels and well, hence more unreliable ways to find out if you have “cancer”, yes Google search, I notice what you do; it has become essential for companies to develop new ways to address their employees’ concerns, internally.
Enters Wysa, your virtual companion for reducing all your work related stress. Or rather, should I say, a pet for those allergic to canines and felines? Sometimes we get all tangled up inside our heads, unable to move on. This chatbot is great at helping you get unstuck.
Example app: Wsya
Wysa remembers useful information from conversations, such as your most hated boss or favourite hangout place, to use in later conversations. In effect, it learns your likes and dislikes, so you can hold more intelligent chats. And it goes to show how even the most unexpected products are here to help you see the brighter side of life. Try out a live conversation with the blue penguin here.
Image source: Android phone app
So, do you still think that AI isn’t yet advanced enough to take care of your precious little startup? Go out and explore the AI world. Even if you can’t yet wrap your head around how AI will leverage your organization revenues, trust that, soon, it most definitely will.
And that’s a wrap! Hope this blog post proves to be insightful for you! Also, if you seek to upskill your Data Science skills, take a peek into our Data Science Courses.