Artificial intelligence (AI) is becoming increasingly accessible and beneficial to small and medium-sized enterprises (SMEs), enabling them to compete on a more equal footing with large companies.
I like to mention in this regard Andrew Ng, co-founder of Google Brain, former chief scientist of the Baidu AI Group and professor at Stanford University, a pioneer on issues related to deep learning and artificial intelligence. In his many lectures, interviews and writings, Andrew Ng emphasizes the importance of AI in democratizing access to advanced technologies, enabling companies of all sizes to innovate and compete more effectively.
Why should an SME innovate with artificial intelligence? Because through the adoption of artificial intelligence solutions in the enterprise, SMEs can:
- optimize operations
- personalize the customer experience
- analyze vast data sets
- make more informed decisions
And all this at reduced cost and increased efficiency.
Artificial intelligence in the enterprise: 2 concrete examples
We then look at two concrete examples of how Artificial Intelligence is benefiting SMEs in Italy and abroad. These examples give us evidence of how the introduction of Artificial Intelligence into the enterprise, and thus the accessibility and benefits of this new technology for small and medium-sized businesses, is transforming the competitive landscape, enabling these companies to keep pace with or even surpass their larger competitors.
1. The case of Supermercato24
Supermercato24 is an Italian startup that has revolutionized the grocery delivery industry by leveraging AI to optimize its services. In this case, the introduction and use of AI in the company and the subsequent use of predictive algorithms supports the company in:
- predict demand in specific geographic areas and times, enabling better management of deliveries and minimizing waiting times for customers
- optimizing routes for delivery drivers, reducing delivery costs and increasing operational efficiency.
This innovative use of AI has not only improved the customer experience, but also provided Supermercato24 with a significant competitive advantage in the Italian online grocery delivery market.
2. The case of Tecnomatic
The same competitive advantage that Tecnomatic, an Italian SME operating in the precision mechanics sector that has implemented Artificial Intelligence in the company to optimize production processes and improve the quality of the mechanical components it produces, has managed to create for itself.
The use of AI allows Tecnomatic to:
- perform predictive analysis on machine tool operation, preventing machine downtime and reducing downtime
- analyze real-time production data to improve the accuracy and efficiency of machining processes, through machine learning algorithms
- reduce waste, consequently increasing customer satisfaction
5 essential concepts about Artificial Intelligence in business that an SME should know about
Let’s now focus on the five essential concepts that an SME should enable internally and reflect on to reap real benefits from AI technologies.
- Understand the capabilities and limitations of artificial intelligence. That is, understand what AI can and cannot do. AI can help streamline business processes, improve customer experience, analyze large amounts of data to uncover valuable insights, automate repetitive tasks, and more. However, implementing AI requires a clear understanding of the company’s specific goals and the technological capabilities needed to achieve them.
- Quality data and data access. AI is powered by data. Having access to high-quality, relevant, well-organized data is critical to the success of any AI project. SMEs must ensure that they have strategies in place for data collection and management.
- Skills and training. While AI is becoming increasingly accessible, there is still a need for specific skills to develop, implement and manage AI solutions. SMEs can consider training existing staff and working with external partners who have the experience to work with AI.
- Choose the right solutions. There are a variety of AI platforms and tools, from standard to highly customizable. SMEs should carefully consider which tools are best suited to their specific needs, taking into account cost, scalability and integration with existing systems.
- Ethics and accountability. In exploring the use of AI, it is important to consider ethical implications, such as respect for privacy, transparency of automated decisions, and elimination of bias. Adopting a responsible approach to AI use can help build customer trust and meet legal and social obligations.
Final thoughts
The introduction and use of Artificial Intelligence in enterprises is a strategic key to innovation and competitiveness, which is precisely enabling SMEs to innovate and compete effectively in various sectors.
Its adoption represents not only an opportunity but a necessity for small and medium-sized enterprises eager to remain competitive in an ever-changing economic landscape. With AI, SMEs have the opportunity to optimize their processes, innovate their products and services, and compete globally, narrowing the gap with large companies.
In this scenario, Roncucci&Partners stands as a reference partner for SMEs that intend to travel the road of innovation with awareness and strategy. Since 2001 we have been working alongside companies to define sustainable strategies and business models that increase their competitiveness. We actively support companies in their international development processes and guide them in introducing AI into their business processes, with the aim of increasing efficiency and productivity.
We strongly believe in the importance of appropriate tools for business development, building the desired future with decisions based on objective data and assessing the need for new or renewed competencies.
At Roncucci&Partners we help companies develop themselves and their business, embrace change and evolve to thrive in a world that is increasingly complicated, insidious and requires great expertise. We do this by applying punctual methods and rigorous strategies, the result of many years of experience and the richness of the numerous success stories we have conducted all over the world. Passion and method are indeed our guides to enhance the present and build the future.
