In the second episode of Vodafone Business’ new video series, three leaders break down the tools and strategies that are helping them – and other founders – make the most of AI.
When Vodafone launched its business.connected digital skills initiative in May 2021, research showed that 27% of small and medium-sized enterprise (SME) owners did not have the confidence to adopt any new technology.
Today, however, YouGov suggests 31% are actively using Artificial Intelligence (AI)-powered tools or solutions, while another 15% say they are planning to in the future.
Just like the rapid rise of AI in wider society – ChatGPT famously became the fastest-growing app in history, reaching 100 million users in just two months – the picture is also changing when it comes to AI use in the business world.
The right tool for the job
Part of this is down to the abundance of AI tools that businesses now have at their fingertips. While some of these may incur a monthly premium, others might in fact sit within a business’ existing subscriptions.
This is true of Microsoft’s Copilot, which the company has integrated into its Microsoft 365 suite. Now a feature of applications like Word, Excel, PowerPoint, Outlook and Teams, the AI assistant can support everything from drafting emails to analysing data.
Vodafone Business partners with Steven Bartlett’s FlightStory Studio to launch social-first content series empowering UK SMEs
Each episode features a dynamic, rotating panel of entrepreneurs and experts who engage in lively and honest discussions about the real challenges faced by SMEs today.
“If you’ve got an enterprise-level Microsoft 365 Business Structured Account,” explains Kirstie Kavanagh, a tech consultant and AI enablement expert, “you probably have a lot more in that than you realise.”
As the name suggests, however, it’s important to remember that the AI is simply a copilot and not in charge of ‘flying the plane’.
“There are elements that an AI tool can handle, but not everything,” says Kirstie, “as AI hasn’t got the context you have.”
Learning when, and how, to blend AI with a human touch is arguably one of the most important skills for SMEs to hone, therefore.
A good first step in striking this balance is to run an audit throughout the business. Not only will this reveal which tools may already be in place, but it can also help identify gaps in expertise that AI may be able to help plug.
Find out more: Microsoft 365 & Teams For Business
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There’s safety in numbers
Each year, inadequate cybersecurity measures cost UK SMEs a total of £3.4 billion, with the average cost of a cyber attack between £3,398-£5,001 depending on the size of the business.
Though AI is arguably helping to make some of these threats more effective, it can also serve as an important line of defence when attempting to avoid them.
By proactively spotting potential breaches and monitoring network traffic, AI assistants can help small businesses prevent cybersecurity threats that may have previously been out of their sphere of expertise.
With that being said, when considering the use of new AI-based tools, human input once again remains vital here. All of which makes expert partners even more valuable.
“Any small businesses that want to start experimenting with [AI] tools should be seeking expert guidance from partners,” says Christiana, co-founder of FlightStory, the media company behind Steven Bartlett’s ‘The Diary of a CEO’.
When it comes to things like GDPR, compliance and cybersecurity, we’re still going to engage our partners like Vodafone Business for the expertise and advice to make sure we’re doing it right.
Christiana Brenton, Co-Founder, FlightStory
“For us, when it comes to things like GDPR, compliance and cybersecurity, we’re still going to engage our partners like Vodafone Business for the expertise and advice to make sure we’re doing it right.”
On the topic of GDPR, Kirstie also has useful guidance for SMEs: “If you’re using a new tool, always go on the website first and have a look at their privacy regulations and the privacy documentation they have.
“If you’re a UK-based business, and the tool stores data in the UK, does it have a GDPR reference within its privacy policy? Then you can tell instantly whether this tool is taking regulation .”
Equally, companies must also have their own policies in place, so employees are clear on what data they can or can’t upload. Doing so can reduce the risk of unintentionally sharing confidential information.
Find out more: Cyber Security Solutions For Business
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Every day’s a school day
The potential impact of AI for small businesses might be huge, but making the most of it ultimately depends on individuals understanding how to unlock this potential.
Upskilling, therefore, becomes a crucial part of the equation, especially for smaller teams that have a wider job scope.
However, this needn’t be an expensive or extremely time-consuming affair. Arguably, the most important quality for businesses to have when it comes to AI is curiosity.
“Because nobody has got a department that’s already mature in this,” says Leo Harrison, Founder of Chapter 2, a recruitment and technology company that uses AI-powered, “this is where the opportunity sits for a lot of small business owners, if they’re curious, fast-paced, and really lean into AI.”
Vodafone’s business.connected programme targeting one million UK SME users by end of year
Introduced in 2021 to help businesses struggling through the pandemic, business.connected has evolved to become Vodafone’s flagship small business support initiative.
Equally, businesses needn’t simply default to the largest, most well-known tools. After all, niche businesses often require more specialist support.
“There are so many small tools that can unlock massive wins, by saving what is ultimately the most valuable currency resource as a founder, which is your time,” says Christiana.
“So, try asking ChatGPT, as it will tell you about other tools that you can use as well.”
By handpicking specific platforms, and taking the time to learn where they can have the most impact, a business can quickly create its own AI-powered toolkit.
Find out more: Digital Upskilling | Businesses & Communities
With more companies turning to AI than ever before, the business.connected series is here to provide hands-on advice and inspiration from some of the UK’s most exciting entrepreneurs and small business owners.
Watch the latest episode, featuring Kirstie, Christiana and Leo, on YouTube now, and find out more on the Vodafone Business website.
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