Rivers and Rivers CPAs

Are you captivated by or apprehensive about the prospect of artificial intelligence (AI) in your business and, quite possibly, your personal life? Generative AI (GenAI) has sneakily woven itself throughout many of our daily processes. Google is using GenAI in search results (although, buyer beware). Our smartphones automatically group like images together to present a “Remember this day?” slideshow without us even asking. It’s a little intrusive, but the innovation is endless.

Maybe “intrusive” isn’t the right word…let’s go with “disruptive.” AI is disruptive, and it’s changing the way we interact with each other and the way we do business, especially for those who run remote businesses.

Staying resilient in the face of disruptive technology can be both a challenge and an opportunity. We’ll explore how small businesses can harness these advancements while maintaining robust security and thriving in a remote environment.

Understanding disruptive technology

What is disruptive technology, exactly? It’s the innovative technologies that can significantly alter industries and business practices. The fact that you’re either reading this article online or in a printed version? Disruptive technology got us here. Consider the machinery that led to assembly lines, computers, the World Wide Web and the internet (two separate things, by the way), robotics, 3D printing, smartphones, streaming services, cybersecurity, cryptocurrency…the list is endless.

AI is a prime example that’s revolutionizing the way businesses work, from chatbots that can answer customer inquiries 24/7 to AI-powered analytics that can give you insights into your business. It’s no longer a buzzword—it’s in our everyday lives. It can automate tasks, provide valuable insights and enhance your decision-making process, helping you stay ahead of the curve.

AI: Your new work bestie

While a small number of workers fear that AI will make their jobs obsolete, an astounding 74% say they’re not worried.⁶ And for good reason. There’s a lot to love about AI. And it’s here to help you— not replace you. Here are five ways AI can disrupt your business in a good way, and become your new best friend.

1. Save time and money

AI tools provide significant cost savings by automating tasks, allowing businesses to reallocate resources to higher-value activities and pursue growth opportunities.

2. Enhance marketing and customer service

AI helps you create and implement targeted, personalized campaigns by generating written content and photos for marketing purposes. Chatbots can handle routine questions any time of day, improving response times and increasing customer satisfaction.

3. Streamline human resources

AI can filter through job applications, assist with new hire onboarding, and answer employees’ questions about benefits and company policies.

4. Maintain better financial control

AI can assist with budgeting and inventory management, track income and expenses, and generate financial reports.

5. Provide sales and customer insights

AI analyzes customer data to provide valuable insights, so businesses can create personalized experiences and recommendations. For businesses operating in remote environments, AI can help you:

• Hire employees from virtually anywhere.

• Create a welcoming environment with collaboration and messaging tools.

• Run, record, transcribe and debrief meetings.

• Handle customer service while managing projects with the right online tools.

Where cybersecurity comes in

AI isn’t just a tool for efficiency; it can also bolster your cybersecurity efforts. In fact, AI-driven security systems can detect and respond to threats faster than humans by monitoring network traffic for unusual patterns and flagging security breaches in real time. It can also automate routine security tasks, like updating software and managing access controls. So, how can you remain resilient in the face of disruptive technology?

• Embrace the change. Technology will always change. Stay curious and lean into new tools.

• Stay informed. Keep up with tech trends and cybersecurity developments by subscribing to industry newsletters or attending webinars.

• Assess and adapt. Review your cybersecurity strategies regularly and be open to adopting new tools and practices to improve your security.

• Seek expert advice. Reach out to technology and cybersecurity experts. They can provide tailored advice and solutions that meet your business needs.

• Start small, think big. You don’t have to implement AI in everything you do right away. Pick one area to improve and go from there.

Disruptive tech ain’t got nothing on you

We get it. AI and other tech can be daunting, especially for a remote business. But listen up: As a small business owner, you’re already an expert at adapting to and overcoming challenges. Disruptive technology just presents you with a new opportunity to show what you’re made of. You’ve got this.