Technology for MSMEs: AI and big data can transform the MSME space by enabling businesses and entrepreneurs alike in creating consistent business growth.
Technology for MSMEs: In today’s world, technologies such as AI and big data have become quite ubiquitous. So much so that they are present and used unequivocally in our everyday lives. From ride-sharing apps, to voice searches on smartphones, AI service delivery is being used every day. Even from the perspective of the business landscape, India is making rapid strides in the SME and MSME sector with respect to the adoption of digital technologies. While on one hand, these technologies offer you a great promise, they also manage to raise apprehension at the same time and only the concerted efforts of key stakeholders can create a framework that will capitalise on the technology landscape and be able to derive maximum benefits in the most pragmatic manner.
You might also be interested to read: Coronavirus Crisis: Give MSMEs Concessional Loans, Grace Period For Filing Taxes, Assocham Tells Government
Given the dynamic business culture today Gartner notes that “Artificial Intelligence is increasingly making its way into the workplace, with virtual personal assistants (VPAs) and other forms of chatbots now augmenting human performance in many organizations.” Gartner also predicts that by the year 2021, 70 per cent of organizations globally will integrate AI in the workplace in order to reap the concomitant benefits. There is no denying the fact that when applied in the most optimum manner, AI and big data can transform the MSME space by enabling businesses and entrepreneurs alike in creating consistent business growth by aiding across functions such as product development, customer service, marketing, sales, etc.
Source: Financial Express
