Is it time for SMEs to engage with Artificial Intelligence?

While big companies have long started employing new technologies like artificial intelligence (AI) and machine learning to optimise their business processes, small and medium enterprises (SMEs) are still standing on the edge trying to decipher if the new technology holds any answers for them. SMEs have never been the one to get excited about buzzwords, but experts suggest that the time has come for these businesses to start asking specific questions, the answers to which can provide a fillip to SMEs. Efficiency driven by AI "One of the biggest benefits of AI is that it helps to optimise or make a process more efficient," says IBM India/South Asia, Cloud Leader, Amit Kumar. AI-based solutions can help companies vastly reduce operational inefficiencies and small and medium businesses can use these solutions to improve on their processes. "There are several processes which are time-consuming, several pain points like cash flow, which needs to be sorted out, errors that can be reduced. The question is whether AI engines can help in addressing these and the answer is'Yes'," asserts Kumar.