Generative Artificial Intelligence, an emerging and powerful technology, is becoming a crucial ally for Small and Medium-sized Enterprises (SMEs) seeking to improve their operational efficiency and drive innovation. According to astudyAccording to McKinsey, companies that adopt AI in their operational processes can reduce costs by up to 20% and increase efficiency by 30%.
Furthermore, areportfrom MIT Technology Review points out that 71% of companies recognize the great potential of AI for their businesses and the majority of respondents anticipate a significant increase in investment in this area.
Another interesting fact is that 60% of companies that implemented AI solutions experienced significant growth in their revenues. Tools like OpenAI's ChatGPT and Google's Gemini are examples of AI that can automate repetitive tasks and free up valuable time for strategic activities. This advance allows SMEs to be more competitive and innovative in a dynamic market.
The application of Generative Artificial Intelligence in SMEs can manifest in various ways, from increasing operational efficiency to assisting in decision-making.
We list below four benefits of Generative AI for small and medium-sized enterprises.
- Improved operational efficiency
Generative AI offers a transformative potential for SMEs by automating repetitive tasks such as creating emails and reports, allowing employees to focus on strategic activities. Tools like Microsoft's Copilot and Midjourney allow for creating images for marketing use, while solutions like ChatGPT help automate communication with customers, says data and innovation expert and MBA professor at Fundação Getúlio Vargas (FGV), Kenneth Corrêa.
Kenneth explains that “a small retail store can use generative AI to optimize its inventory by predicting seasonal demand based on historical data and market trends. Marketing agencies can also benefit from using Adobe tools to create personalized content at scale, significantly increasing their productivity,” he says.
- Product and service innovation
Generative AI is a powerful ally for SMEs in product and service innovation, enabling smaller companies to compete more effectively by generating creative ideas and innovative solutions. "For example, a small design company can use tools like DALL-E or Midjourney to create unique visual concepts, speeding up the creative process and offering more diverse options to clients," comments the expert.
In market research, tools like Perplexity help find up-to-date information, while analyzing large volumes of data allows for identifying emerging trends and opportunities for new products. AI can personalize recommendations, like fashion companies that use algorithms to suggest products based on customer preferences.
- Personalizing the customer experience
Generative AI allows SMEs to offer more personalized and relevant service, enhancing the customer experience. According to Corrêa, personalized assistants like those created by OpenAI can provide 24/7 customer support, answering questions and resolving issues in a natural and contextualized manner. This results in greater customer satisfaction and reduces the workload on support teams.
Furthermore, AI can analyze customers' purchase history and online behavior to generate highly personalized recommendations. Solutions like Rosana.io help small online stores personalize product recommendations, while email marketing tools generate content tailored to customers' interests, increasing engagement and loyalty.
- Strategic decision making
Generative AI is revolutionizing strategic decision-making in Small and Medium-sized Enterprises, providing data-driven insights that were previously accessible only to large corporations. Tools like Rows.com and PolymerSearch.com enable efficient analysis of large volumes of market and customer behavior data, facilitating decisions on business expansion, product development, or resource allocation, says Kenneth.
According to the expert, AI also helps in the creation of executive reports and presentations, synthesizing complex data into actionable insights, democratizing access to business intelligence and allowing SMEs to compete more effectively.
Challenges and preparation for the adoption of Generative AI
Although Generative AI offers numerous benefits, SMEs face challenges such as the mistaken perception that it is a complex and expensive technology. In fact, many AI tools are intuitive and accessible, with free or low-cost versions.
To make the most of AI innovations, SMEs should adopt a mindset of experimentation and continuous learning. "Start with free tools for simple tasks, invest in team education, and stay updated on the latest innovations are essential steps. Identifying areas of the business that can immediately benefit from AI and starting with pilot projects helps demonstrate value quickly," emphasizes Corrêa.
For the specialist, with the correct approach, Small and Medium-sized enterprises can integrate this technology into their processes, gaining competitiveness and promoting sustainable growth. "The key is to start small, learn continuously, and adapt as you go, making the most of the transformative potential of Generative AI," he concludes.
