New AI Tools Help Small Businesses Work Smarter in 2024
In Brief – Recent AI developments are making it easier for small businesses to improve operations without big tech budgets. Key updates include:
- Free and low-cost AI tools from Google, Meta, and OpenAI are becoming more practical for daily business tasks
- The SBA now offers specific guidance on choosing safe, effective AI tools
- New research shows AI assistants can reduce common business errors by up to 16%
SBA Launches AI Resource Hub for Small Business
The Small Business Administration has created a new technology guide to help business owners evaluate and adopt AI tools safely. The comprehensive resource covers everything from basic definitions to specific use cases, with an emphasis on practical, affordable solutions.
Google Makes AI Language Tools More Accessible
Google has simplified how its AI tools work behind the scenes, making them faster and cheaper to use. Their latest update on “inference” (how AI processes information) means small businesses can now use advanced features like document analysis and customer service automation without specialized equipment.
Real-World Results Show Promise
A recent study by OpenAI found that AI assistants helped reduce errors in professional work by 16%. While the study focused on healthcare, the findings suggest similar benefits for small business tasks like bookkeeping, customer service, and scheduling.
“We’re seeing AI tools become as essential to small businesses as websites were 20 years ago.” – SBA Technology Advisory Board, January 2024
What This Means for SBDC Advisors
- Direct clients to the SBA’s new technology guide as a first step when they ask about using AI in their business.
- Focus on helping clients identify specific business problems that AI tools could solve, rather than adopting technology for its own sake.
- Stay informed about free and low-cost AI tools that can help small businesses improve accuracy and save time on routine tasks.
