Small Businesses Embrace AI Tools to Boost Efficiency and Growth

The emergence of generative artificial intelligence (AI) is ushering in a new era for small businesses, offering them innovative ways to enhance their operations. These businesses are now adopting AI-powered tools such as OpenAI's ChatGPT and Google's Bard to assist with tasks ranging from grammar checks in emails to drafting business plans.

Innovative AI Tools for Small Enterprises

Looking to simplify daily tasks, small business owners are turning to AI software to improve their marketing content and streamline communication. OpenAI's ChatGPT, for instance, is being used to refine email correspondence, while Google's Bard assists with creative marketing strategies. The overall impact of these tools is to economize on time and resources, giving small businesses a leg up in a competitive market.

Big Tech's Support for Small Business AI Integration

Larger corporations are recognizing the needs of small businesses and are creating AI tools tailored to them. Microsoft's Copilot, for instance, is designed to carry out tasks such as summarizing emails or extracting key points from documents to streamline workflow and enhance productivity. Costing $30 per month per employee, Copilot is now accessible to businesses of all sizes, from large corporations to solo entrepreneurs.

MasterCard's Pilot Project for Small Business AI

Corporations like MasterCard aren't far behind in their support for small businesses. They have initiated a pilot for a new service, MasterCard Small Business A.I., aimed at helping entrepreneurs analyze data and access resources for business growth. By tapping into MasterCard's content and licensed media materials, the service promises to provide insights and support to small business owners when it launches in the U.S. and eventually in international markets.

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