AI Empowers Small and Medium Businesses: Insights from Amazon Web Services
The landscape of artificial intelligence (AI) is rapidly evolving, and small and medium-sized businesses (SMBs) are poised to harness its potential as never before. In a recent conversation with FOX Business, Ben Schreiner, the head of innovation for small and medium businesses at Amazon Web Services (AWS), shed light on the transformative role of AI in empowering SMBs.
Schreiner explained that AWS is leveraging its expertise, gained from working with Amazon.com to develop machine learning practices, to make advanced AI tools accessible to SMBs. This move is part of AWS’s mission to democratize access to cutting-edge technology, which Schreiner believes can be truly transformational for businesses of all sizes.
He emphasized that SMBs must first identify the specific business problem they aim to solve using AI. Rather than experimenting with various solutions, SMBs should focus on pinpointing challenges that consume time, incur significant costs, or result in customer complaints. According to Schreiner, “If you can solve any of those three problems – whether it’s AI, machine learning, or generative AI – the tool really is irrelevant to what problem you’re trying to solve.”
To maximize the benefits of data analytics driven by AI and machine learning, Schreiner highlighted the critical importance of data quality. He noted that “the model is only as good as the data it has access to.” Consequently, SMB leaders should be aware of the sources of their data and work towards ensuring its accuracy and reliability. Schreiner recommended that SMBs begin by focusing on getting their data in good form, as skipping this step could lead to incorrect results and unreliable insights.
Moreover, Schreiner dispelled the misconception that SMBs require data scientists to utilize AI tools effectively. He acknowledged that AI has historically seemed intimidating to SMBs with limited IT resources and technical depth. However, AWS’s approach is to bring AI models to customers’ data, rather than expecting customers to share sensitive data externally.
Regarding data security, Schreiner emphasized the need for SMBs to safeguard their data. Protecting data from unauthorized access or public disclosure is crucial to prevent potential liabilities and maintain control over sensitive information.
Looking to the future, Schreiner discussed how AI will advance customer support tools, such as chatbots, making interactions between businesses and consumers more efficient and effective. While AI-powered chatbots will handle frequently asked questions, human customer support teams will focus on more complex issues that require research and nuanced understanding.
The increasing accessibility and sophistication of AI tools are leveling the playing field for SMBs, allowing them to harness the power of AI to solve business challenges and enhance customer interactions. As AI continues to evolve, SMBs have a valuable opportunity to leverage this technology for growth and innovation.
