Over the last twenty years you have adapted to a whole new paradigm; Doing business online. 

You had to constantly adapt to new technologies, starting with your first website twenty odd years ago and having to learn the ins an outs of organic search leading quickly in investing in search engine optimisation (SEO). When organic search became ineffective on its own you put your toe in the water with paid search. Not long after this mobile technology exploded on the scene, society and consumer behavior changed forever. Your web traffic went from 80%/20% (online/mobile) to 20%/80% within thirty six months. Social media, digital marketing, sales automation, marketing funnels, email marketing.

You may have already started hearing about businesses making early gains with AI. Naturally there are always early adopters with any new technology. If you are not an early adopter don’t panic, just like the early days of doing business online the changes come so rapidly that waiting until the dust settles and some norms, standards or best practice are established. AI for most businesses, is still at a very early stage.
Having said that, you don’t want to be a late adopter either as many small and mediums enterprises (SMEs) were with the web. AI is moving very fast, so it would be prudent to stay at least keep the front bunch in view.

“How could I most effectively benefit from using AI systems and tools to improve productivity, profitability, and business growth?

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Four decades in sales, marketing and management has given me the type of experience value to your business my experience gained during the digital agency and website building company in Wellington. I have a strong commitment to achieving tangible results for my clients, I'm committed and dedicated to the work I do and I enjoy working with clients who are open to change and growth.

How I can help grow your business

Digital Strategy

After being involved in the digital space since the very beginning, I know for sure that there are no silver bullets. Like everything else in your business, making digital gains takes time and effort. As a digital consultant, my commitment to achieving measurable results will help you achieve a profitable outcome in your business.

After being involved in the digital space since the very beginning, I know for sure that there are no silver bullets. Like everything else in your business, making digital gains takes time and effort. As a digital consultant, my commitment to achieving measurable results will help you achieve a profitable outcome in your business.

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SWOT analysis

Before taking action or making changes that could significantly impact your business it is always good practice to assess the plan as realistically as possible, from all perspectives. By understanding the strengths of the planned actions as well as the weaknesses, you are in a better position to make informed decisions about your path forward. It is important also to no just look at the project or changes in isolation, but also take a view from a higher level, looking toward the future and analysing the additional opportunities that these actions could generate, and of to also spend time considering what long term threats may exist that are not obvious at this point.

Strengths

Reduced Costs

Improved Efficiency

Competitive Advantage

Enhanced Customer Experience

AI can help SMEs cut costs by automating processes, reducing errors, and optimising resource allocation leading to improved profitability.

AI can automate repetitive tasks and allow employees to focus on more strategic activities thereby increasing overall productivity.

Adopting AI can give SMEs a competitive edge by enabling them to innovate, differentiate their business in the market, and deliver better customer experiences.

AI-driven tools, assistants and personalised recommendations can enhance the customer experience by providing instant support and tailored solutions.

WEAKNESSES

Initial setup Cost

Complex Integration

Data Privacy & Security

Dependency on Technology

Weaknesses
to consider when adopting AI

Implementing AI may require upgrading your systems, software, and staff training. This may be a hurdle if you have limited resources.

Integrating AI systems with your existing processes and systems can be complex and time-consuming, and requires specialised expertise.

AI relies on data so if you have concerns about privacy breaches and cybersecurity threats you should ensure your data security measures are robust.

Over-relying on AI technology may lead to your customers being less satisfied due to feeling a loss of human touch.

OPPORTUNITIES

Differentiation

More Market Reach

New Revenue Streams

Skill Development & Training

Adopting AI can help you differentiate yourself in the market by offering innovative products, personalised services, and seamless customer experiences.

AI-powered tools can help you expand your market reach by targeting new customer segments, entering new markets, and scaling operations more efficiently.

AI offers new revenue streams like monetising your data, creating customised AI services for your customers, or licensing your AI solutions.

Adopting AI allows your employees to gain new skills, undergo training in new technology, and enhance their value to your business.

THREATS

Resistance to Change

Competitor disruption

Shortage of Skilled Staff

Ethical and Regulatory Risks

Resistance to Change: Can impede the adoption of AI in your business. Change management can help overcome potential resistance and foster a culture of innovation.

Disruption from Competitors: Not adopting AI can leave you vulnerable to disruption from competitors who have leveraged AI to offer better products, services, and customer experiences.

Skill Shortage: The growing demand for AI skills makes it harder for SMEs to attract AI experts. This may hinder your ability to effectively implement AI initiatives in your business.

Ethical and Regulatory Risks: AI can raise concerns about transparency, bias and accountability. You must navigate ethical & regulatory aspects thoughtfully to ensure a smooth transition to AI.

Frequently Asked Questions

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What is AI exactly?

Artificial Intelligence (AI) refers to the simulation of human intelligence in machines that are programmed to think and learn like humans. It encompasses a variety of technologies and techniques designed to make computers perform tasks that would typically require human intelligence.

How could I use AI in my business?

AI can be used in many ways to improve business efficiency, from automating routine tasks to gaining insights from data analysis. It can enhance customer service, streamline operations, and provide strategic insights.

Where could I start using AI in my business?

Starting with AI can be straightforward by identifying areas where automation and data analysis could provide immediate benefits. Common starting points include customer service, marketing, and data management.

How do over-the-counter AI tools compare with customised AI solutions built specifically for your business?

Pre-built AI tools are generic and designed to serve a wide range of businesses, while custom AI assistants are tailored specifically to meet the unique needs and goals of your business.

Prebuilt AI tools offer quick implementation and lower initial costs, while custom AI solutions provide tailored functionality and better integration with your specific business needs.

 

 

What are the advantages of training custom AI agents with my own business data, compared to using AI agents with pre-trained general knowledge?

Custom AI agents trained with your own business data offer more relevant insights and better performance tailored to your specific needs compared to pre-trained AI agents with general knowledge.

Does AI add extra overheads?

While implementing AI can add initial overheads in terms of cost and time, the long-term benefits usually outweigh these costs through increased efficiency and cost savings.

What level of ROI could an SME expect to see from investing in AI solutions, comparing pre-built tools and custom tools?

SMEs can expect different levels of ROI from pre-built and custom AI tools. Pre-built tools often offer quicker, lower-cost returns, while custom tools provide higher, long-term ROI through tailored efficiency and effectiveness.

 

About me

I take a pragmatic, hands-on approach when helping clients to use digital technology more effectively and profitably. My strength is identifying sticking points and opportunities for growth and thinking out of the box to create practical solutions that are cost-effective and efficient.

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Recent projects

Completely synergize resource taxing relationships via premier niche markets. Professionally cultivate one-to-one customer service.

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Completely synergize resource taxing relationships via premier niche markets. Professionally cultivate one-to-one customer service.

Starter

$20

/ month

  • Up to 3 chat operators
  • 200 Chatbot Triggers
  • Quick Responses
  • Google Analytics
  • Messenger Integration
  • Email Integration
  • Mobile + Desktop Apps
  • Drag & Drop Widgets
Get started

Premium

$60

/ month

  • Up to 3 chat operators
  • 200 Chatbot Triggers
  • Quick Responses
  • Google Analytics
  • Messenger Integration
  • Email Integration
  • Mobile + Desktop Apps
  • Drag & Drop Widgets
Get started

People are saying

Podcasting operational change management inside of workflows to establish a framework. Taking seamless key performance indicators offline to maximise the long tail.

Contact Me

My Location

Whakatane Eastern Bay of Plenty

Mail

rick@wallaceconsulting.nz

Phone number

+64 22 506 8434

Strengths

Reduced Costs

Improved Efficiency

Competitive Advantage

Enhanced Customer Experience

AI can help SMEs cut costs by automating processes, reducing errors, and optimising resource allocation leading to improved profitability.

AI can automate repetitive tasks and allow employees to focus on more strategic activities thereby increasing overall productivity.

Adopting AI can give SMEs a competitive edge by enabling them to innovate, differentiate their business in the market, and deliver better customer experiences.

AI-driven tools, assistants and personalised recommendations can enhance the customer experience by providing instant support and tailored solutions.

WEAKNESSES

Initial setup Cost

Complex Integration

Data Privacy & Security

Dependency on Technology

Weaknesses
to consider when adopting AI

Implementing AI may require upgrading your systems, software, and staff training. This may be a hurdle if you have limited resources.

Integrating AI systems with your existing processes and systems can be complex and time-consuming, and requires specialised expertise.

AI relies on data so if you have concerns about privacy breaches and cybersecurity threats you should ensure your data security measures are robust.

Over-relying on AI technology may lead to your customers being less satisfied due to feeling a loss of human touch.

OPPORTUNITIES

Differentiation

More Market Reach

New Revenue Streams

Skill Development & Training

Adopting AI can help you differentiate yourself in the market by offering innovative products, personalised services, and seamless customer experiences.

AI-powered tools can help you expand your market reach by targeting new customer segments, entering new markets, and scaling operations more efficiently.

AI offers new revenue streams like monetising your data, creating customised AI services for your customers, or licensing your AI solutions.

Adopting AI allows your employees to gain new skills, undergo training in new technology, and enhance their value to your business.

THREATS

Resistance to Change

Competitor disruption

Shortage of Skilled Staff

Ethical and Regulatory Risks

Resistance to Change: Can impede the adoption of AI in your business. Change management can help overcome potential resistance and foster a culture of innovation.

Disruption from Competitors: Not adopting AI can leave you vulnerable to disruption from competitors who have leveraged AI to offer better products, services, and customer experiences.

Skill Shortage: The growing demand for AI skills makes it harder for SMEs to attract AI experts. This may hinder your ability to effectively implement AI initiatives in your business.

Ethical and Regulatory Risks: AI can raise concerns about transparency, bias and accountability. You must navigate ethical & regulatory aspects thoughtfully to ensure a smooth transition to AI.

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