Navigate your AI journey with a reliable experienced guide
Despite the proliferation of AI business tools and surge in AI awareness, Generative AI is still only at the 'early adopters' stage on the technology adoption curve.
Next-gen AI which is almost here, will introduce tools with human-like thinking, smarter and more capable than we are.
Business owners are excited about the potential of AI, however, and understandably, many have concerns about adopting AI technology in their business.
While the speed and magnitude of AI's influence on business may be overwhelming, being well informed and educated about AI technology can open an exciting path with significant opportunities for your business.
My role is to
help you navigate
the AI landscape, provide
experienced digital expertise,
assist with business decisions
relating to AI, and assist you to
achieve profitable, pragmatic,
and successful outcomes
from AI in your
business
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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.
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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.
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“How could I most effectively benefit from using AI systems and tools to improve productivity, profitability, and business growth?
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.
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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.
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.
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.
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.
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.
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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.
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.
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.
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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.
Whakatane
Eastern Bay of Plenty
rick@wallaceconsulting.nz
+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.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.