Brianna White

Staff member
Jul 30, 2019

Businesses and consumers are leveraging AI-powered tools every day, yet debate remains around the actual value of AI. There is a massive opportunity for companies to benefit from AI, especially as many need to deliver more with less in the backdrop of today’s macroeconomic landscape.

Many businesses may already use AI and machine learning-based capabilities in their operations without even realizing it. AI can provide more opportunities for creativity, innovation, and the ability to stay nimble in the face of unforeseen challenges. The question is: how can businesses capitalize on AI’s capabilities to recognize the most value?

With its vast number of applications, AI can be overwhelming, especially for entrepreneurs who likely aren’t tech experts and are already stretched thin from wearing multiple hats every day to run their growing businesses. Thankfully, several established, reliable ways exist to take advantage of AI for both long- and short-term business benefits. Here are three key areas where business owners can use AI to improve decision-making and create stronger operational efficiencies for rapidly scaling businesses.

Simplifying Financial Operations

Everyone knows that poor cash flow is detrimental to business health and success, but it’s still one of the most common problems for most entrepreneurs. According to a recent Intuit QuickBooks report, more than two-thirds of small business owners (68 percent) surveyed say they struggle with cash flow problems. To address these challenges, business owners need to leverage tools that can provide the visibility and insights they need to understand their financial performance. AI-enabled tools can predict cash flow by tracking money-in, money-out patterns from expenses, payments, and more. These insights are incredibly valuable and give entrepreneurs the timely information they need to make better decisions and catapult growth.

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