When you go digital, you can expect growth one way or another, especially for MSMEs. The shift toward more efficient technological solutions from old websites and emails in the name of digital adoption is visible among MSMEs that have long avoided growing technologies. However, there are improvements to bridge this gap between businesses and digital solutions.
For example, in India, digital services have had improved affordability as a result of expanding on-demand, pay-as-you-go, or software-as-a-service (SaaS) environment, which has relieved small enterprises from the cost issue to some extent.
Seeing the increasing development of businesses toward the digital world, it would be fair to mention a few who have already pursued the path for greater growth with new-age solutions such as artificial intelligence (AI).
Application of AI for Logistics
AI can be implemented to manage fleets of delivery vehicles by employing on-demand fleet management software for GPS vehicle monitoring, fuel management, driver analytics, and route planning. For each vehicle, an OBD or onboard diagnostics (OBD) device is installed. OBD is essentially a machine learning (ML) and internet of things (IoT)-based gadget that receives signals from various sensors in a car and transmits them to the user’s dashboard via software.
Application of AI for Food and Beverage
Restaurants were among the top sectors where the usage of AI accelerated during the pandemic. The pandemic prompted the F&B industry to look for ways to optimize their processes, from sales to inventory management and more. This not only helps in effectively reducing inventory costs but also in strategically expanding businesses in different locations with the help of collective online data.
Application of AI for Tourism
Tourism is another industry that largely relies on technology, particularly AI, for a variety of purposes such as travel booking via chatbots, airline forecasts in terms of the current best price and future costs, recommendations for hotel and cab booking based on travel-related searches, and so on. Such services are available with CRM software to manage customer relationships, track sales leads, marketing, etc., and streamline administrative processes in sales and marketing.
The increasing development of technologies in major industries can be used as a starting point for many small businesses. Making moves for your digital growth doesn’t have to be grand. It can be small steps towards bigger outcomes. You just have to make sure that it fits what you need to maximize the cost.