Labor is more expensive than ever and getting harder to find. Automation and technology have advanced to the point where they are ready for deployment. Look at Klarna, the buy now pay later company. They added $40 million to their bottom line just this year by augmenting their customer success teams with generative AI. My passion for automation is one of the reasons I'm searching for small businesses to acquire and to bridge the gap into this new generation
I started an automation agency with the intention of making technology and automation more readily available for small and medium businesses. SMBs are most at risk from the current technology paradigm shift and ironically can also benefit the most from it. It is this paradox that led me to think there's got to be a better way to do it. SMBs are too small to stay up to date with advancements in AI and technology given the increasing rate of innovation. Just like SMBs outsource IT, web design, and legal services, shouldn’t there be AI as a Service for SMBs?
I'm writing this post on search funder because I found this community after reading Buy Then Build and wanted to gauge what people think of the idea. I've been working with small businesses to do some of this work while also searching for a business of my own. Successful AI and automation implementation reduces COGS, reduces SG&A, and boosts revenue. For SMB owners, this directly translates to more money on the bottom line.
This is a group of people looking to drive change and growth in SMBs so I’m keen to get your thoughts. What do you all think of this new paradigm shift? Do you see things the way I do? Let me know what you think in the comments! Message me if you think what I’m trying to do is something that could help you too.
Cheers,
Nick
The downside is that it can be inconsistent and have hallucinations. Now to improve these problems proper prompting/instruction and necessary and sometimes finetuning models as well.
So in general i would say that AI can help small businesses definitely, but if it comes down to reliable and proper systems then this is most of the time to expensive for SMB's.