How small businesses can leverage AI

In today's fast-paced business landscape, entrepreneurs wear many hats. From accounting to design, market research, and product development, the breadth of skills required to run a business is staggering. While large companies can afford to hire experts to handle these tasks, small businesses often don't have the luxury.

That's where AI comes in. With the ability to perform a range of tasks, AI models can be a valuable asset for small business owners. The key is to understand where AI is good enough and where it's not.

One area where AI excels is in providing secretarial skills and handling basic administrative matters. Sam Finnegan-Dehn, a private tutor based in London, is a prime example. In addition to his full-time job in fundraising, Finnegan-Dehn tutors university students in math and philosophy.

With a multitude of tasks to manage, including lesson planning, invoicing, and research, Finnegan-Dehn turned to AI to streamline his workflow. He uses Notion AI to record meetings with clients, generate automated summaries, and refine his teaching strategy. Notion AI also helps Finnegan-Dehn with goal-setting, drafting lesson notes, invoicing, and generating social media posts.

By leveraging AI, Finnegan-Dehn can focus on high-value tasks, such as growing his tutoring roster. Other companies, like Grandma's Quilt Shop in Arizona, are also using AI to automate tasks. With Rain, a software suite tailored to craft companies, the owners can generate inventory descriptions and pricing for their fabric designs, cutting the time it takes to list items by 60 to 80%.

While AI can be a powerful tool, it's not without its drawbacks. Finnegan-Dehn notes that Notion AI can be "clunky" at times, and the $20 per month subscription fee may not be justified for every business. As with any new tool, small business owners must carefully assess the potential gains and headaches against the cost of doing the job themselves.

As AI technology continues to evolve, it's essential for small businesses to consider how it can help them run more efficiently. By understanding the capabilities and limitations of AI, entrepreneurs can make informed decisions about how to leverage this technology to boost productivity and drive growth.