In the last few decades, AI has been developing quickly. Nowadays, it is relatively cheaper, and small businesses can afford some AI technologies. About 30% of small and medium-sized business CEOs support AI technologies and their increasing benefits for organizations (Srivastav, 2020). Small and medium-sized companies can now engage in efficient online retail services with benefits from excellent product categorization and analytics. AI also makes it possible for quick and easy deliveries to create flawless logistics processes while ensuring customer support is available at all times (Faggella, 2020). However, many small businesses face the challenge of absorbing AI technologies into workflows. They tend to focus on the underlying benefits and potential economic impacts of these technologies. Small organizations must evaluate their KPIs and focus on integrating AI technologies on particular aspects that need improvements from the technology while maintaining the simplicity of operations until the intended benefits are realized.
This paper analyzes a small business’ application of AI to harness speed and collaboration in business. LilyBee Wrap was founded in 2017 by Stacia Jensen to provide an alternative to plastic wraps for food. She looked to replace these plastics with cotton wraps containing organic cotton oil, beeswax, and tree resin. These wraps can be rinsed off and reused for up to a year. As the company expanded, Jensen and her team faced the challenge of inadequate market preparation and other operational problems due to increased demand (LLOYD, 2020). Meetings with potential clients and other retailers became more frequent, and that is when the idea of integrating AI into their marketing and presentation came along. The Beautiful.AI platform is a presentation software powered by artificial intelligence that offers a framework to work with for big presentations. According to Jensen, the AI platform simplifies the work and adds personalized features that make small businesses appear highly professional in their presentations.
Through the AI platform, LilyBee Wrap can reach its goals much faster because it can appeal to more potential clients with enhanced presentation capabilities. Organizations with excellent product and service innovation can achieve greater benefits in terms of marketing powered by AI technology. LilyBee Wrap is an excellent example that benefits from seamless processes that enhance collaboration. The startup could create a wide range of slide presentations like tables, animated charts, and diagrams with spectacular visuals. The Beautiful.AI platform has a photo library and professional photography that makes it easier to customize slides, duplicate presentation content, and make styles and designs that offer the greatest appeal to retail partners and potential clients (LLOYD, 2020).
The ability to customize presentations means that the organization can create presentations suited for specific customers. This is an excellent way of marketing brands that seek to establish emotional connections with business partners. By establishing these connections, retailing partners can view the idea in their own understanding and look for similarities in their particular business endeavors to create successful long-term partnerships. In its few years of operation, LillyBee Wrap has reduced the demand for plastics significantly. They receive very positive feedback from clients and learn to improve their professional quality. Recently, the organization announced partnerships with Volvo and Amazon. They can now distribute their products to customers in the U.S. AI has helped Jensen's company to gain vast influence and inspire entrepreneurs looking to enhance their operations through technology. For this organization, the main goal is to make a difference by making the world cleaner and safer. This mission can resonate with most of its retailers and customers (LLOYD, 2020).
As businesses look to attract more customers, they cannot ignore the role of Artificial Intelligence (AI) in improving customer service (Walch, 2020). It enables customer data analysis to help in making important decisions aimed at improving customer satisfaction. Although there are concerns over replacing manual labor with automation, AI offers great opportunities for innovation and improved productivity. Innovation helps create more jobs while enhanced productivity helps improve product, service, and process quality to drive rapid business growth, as evidenced by LillyBee Wrap. As small businesses look to expand and improve processes with the adoption of AI, they must address the underlying problems associated with the adoption of this technology. Some of the factors to consider are competition, firm characteristics, workforce skill capabilities, AI complements, and companies’ digital maturity. They should work to ensure that these factors have a positive influence on the business in the long run.
References
Faggella, D. (2020). How e-commerce giants are using AI and marketing (Part 1). MarTech Today. Retrieved 3 October 2020, from https://martechtoday.com/ecommerce-giants- using-ai-marketing-part-1-207259.
LilyBeeWrap: Sales Partnership Proposal. Beautiful.ai. (2020). Retrieved 3 October 2020, from https://www.beautiful.ai/player/-Llmsr-tvR9Vsy91eAP0/LilyBeeWrap-Sales-Partnership- Proposal.
LLOYD, A. (2020). A Case Study: A Small Business Grows With the Help of High-Quality Marketing Materials| The Beautiful Blog. Beautiful.ai. Retrieved 3 October 2020, from https://www.beautiful.ai/blog/a-case-study-a-small-business-grows-with-the-help-of- high-quality-marketing-materials.
Srivastav, V. (2020). How Is Artificial Intelligence Revolutionizing Small Businesses?. Entrepreneur. Retrieved 3 October 2020, from https://www.entrepreneur.com/article/341976.
Walch, K. (2020). AI's Increasing Role In Customer Service. Forbes. Retrieved 3 October 2020, from https://www.forbes.com/sites/cognitiveworld/2019/07/02/ais-increasing-role-in- customer-service/#4ed6ef7873fc.