AI On a Budget IS Possible — And Vital!

If an entrepreneur is not at least thinking about implementing artificial intelligence (AI) they will soon be looking to leave the entrepreneurial ranks soon. Implementing AI is almost as important as a business buying computers — it will be absolutely essential to a company’s success going forward. No doubt.

That all said, it is scary implementing AI. After all, it seems expensive and few people really know what it is. Ah, lets define it. AI can be described as a computer being adaptive and learning from past experience, potentially like a human processes thoughts, calculations, etc — but much quicker.

There are, indeed, benefits to implementing AI. As the Harvard Business Review reports, companies that use AI for sales have increased their leads by more than 50 percent, achieved cost reductions of between 40 and 60 percent, and increased the number of sales leads they receive by more than 50 percent. According to the Massachusetts Institute of Technology (MIT), the University of California, San Francisco (UCSF), and the US Department of Commerce’s Office of Science, a company that uses AI in sales has increased its sales and sales by “more than 50%,” achieving cost reductions of up to 40–60%, according to the report. Sources: 0, 1

Instead of undertaking a major infrastructure overhaul, small businesses can use smart technology applications with artificial intelligence on a budget. Software and service providers offer AI-ready solutions that enable small businesses to use AI in their…