Embrace it or be left behind, says AI-driven business founder
Scaling a start-up with the help of AI could be the newest trend in 2024, as small and medium enterprises (SMEs) across the UK are beginning to consider it their “gateway to growth”.
“As startups scale, the integration of AI can be a game-changer, particularly in strategic decision-making and marketing,” co-founder of the AI-driven business planning tool, Venture Planner, Alex Clansey, told City PM
“They should embrace it, or they will be left behind, it is as simple as that,” he added.
Referring to the marketing “power” of AI in particular, Clansey considers it to be an “indispensable tool” for those looking to start a business.
“At its simplest and most accessible level, it is a mentor that you can ask anything of: What marketing strategy might work best for X? What pain point might a customer looking to purchase Y experience?” Clansey said.
In fact, a recent survey of 2,000 budding entrepreneurs by Venture Planner showed that 78 per cent said they would be open to using AI tools to help them kick-start their business.
However, the workplace has faced waves of scepticism when it comes to utilising AI in everyday operations, with some wondering where to begin.
Clansey added: “For entrepreneurs who may not feel ‘tech-savvy’ enough to utilise artificial intelligence, it’s important to recognise that direct technical expertise is not necessary for many applications.
“In most use cases, to make AI accessible, a layer is created between the AI and the user, this front-end simplifies interaction with the technology.”
The head of productivity platform Slack for small and growth businesses, Vanessa O’Mahony, said AI can replace time spent on “low-value tasks”, freeing up founders to focus on their “strategic and creative work”.
The thoughts follow the most recent Slack survey showing some 58 per cent of SMEs feared the UK becoming a “stagnation nation” in 2024, with some highlighting their plans to use AI as a “gateway to growth”.
Of the 500 surveyed, nearly a quarter said they plan to invest time and money into AI to further their growth in the coming year.
O’Mahony added: “AI and automation can help people catch up on messages, or ask questions in natural language to explore your company’s data and knowledge or to pick out the key points from a video call you missed.
“Being able to remove these small productivity drains really adds up and can make a massive difference for companies of all sizes this year.”