Future of Automation and AI in Small Businesses

by Satish Sharma
Lead Management Consultant, SKS Consulting & Advisors, India.

10.46679/978819573223406

Sharma, Satish (2023). Future of Automation and AI in Small Businesses. In AI for Small Business: Leveraging Automation to Stay Ahead (pp 85-102). CSMFL Publications. https://dx.doi.org/10.46679/978819573223406

Abstract

Automation and artificial intelligence are transforming the business world as we know it. These technologies are changing the way businesses, including small businesses, operate and compete in the market. Technology advancements have made automation and AI increasingly accessible and affordable for small businesses. As a result, small businesses are now able to streamline their operations, increase efficiency, and reduce costs. In this chapter, we will first look at how automation and AI are changing small businesses. The trend towards automation and artificial intelligence has been fueled by the exponential growth in data, the increasing sophistication of machine learning algorithms, and the widespread availability of cloud computing. Businesses must keep up with these advances in order to stay competitive in the market.

Keywords: future of automation, small businesses, AI in SMEs

This is a part of: AI for Small Business: Leveraging Automation to Stay Ahead by Satish Sharma

© CSMFL Publications & its authors.

References

  1. Arslanian, H., & Fischer, F. (2019). Future Trends in Artificial Intelligence. The Future of Finance, 231–247. https://doi.org/10.1007/978-3-030-14533-0_18
  2. Ho, N. (2020). How AI Can Help Build Resiliency for Small Businesses in a Global Economic Crisis. Proceedings of the 26th ACM SIGKDD International Conference on Knowledge Discovery & Data Mining. https://doi.org/10.1145/3394486.3409556
  3. Raisch, S., & Krakowski, S. (2021). Artificial Intelligence and Management: The Automation–Augmentation Paradox. Academy of Management Review, 46(1), 192–210. https://doi.org/10.5465/amr.2018.0072
  4. Terwiesch, P., & Ganz, C. (2009). Trends in Automation. Springer Handbook of Automation, 127–143. https://doi.org/10.1007/978-3-540-78831-7_8
  5. Tschang, F. T., & Mezquita, E. A. (2020). Artificial Intelligence as Augmenting Automation: Implications for Employment. Academy of Management Perspectives, 35(4). https://doi.org/10.5465/amp.2019.0062

[email protected]

Follow us @