Rising business costs are the main reason why more small and medium-sized enterprises (SMEs) than ever before are adopting a cautious business outlook in 2024.
That is according to a survey conducted by the Singapore Business Federation (SBF). The same report also found that nine out of 10 local firms acknowledged the importance of business transformation, with cyber security and emerging technologies like artificial intelligence (AI) among the top areas of concern.
As SMEs look to transform and upgrade their businesses while keeping an eye on costs, they must choose wisely and invest in the right AI tools to help improve work productivity and increase revenue.
The AI-powered work platform Slack has helped businesses, especially SMEs, achieve productivity gains with its evolving approaches to emerging technologies. Its recent launch of Slack AI is one way it has made AI work for businesses.
For firms to successfully adopt AI, they need a strategic touch. Slack believes SMEs can begin by asking three important questions.
Question 1: Is the AI tool accessing all your company data?
This was the question that New York-based Beyond Better Foods had to ponder when its fully remote teams began facing challenges coordinating logistics and freight planning.
For a long time, the food start-up had key logistical details stuck in disconnected silos, which meant tracking down information was slow and impossible to scale. Employees were making decisions without having the right information and data-driven insights at hand, which felt like working in the dark.
However, this changed when they switched to Slack as their primary communication platform, which is now the central hub for knowledge sharing across the organisation.
They were also one of the first businesses to use Slack AI in their day-to-day work, taking advantage of its enhanced search capabilities thanks to generative AI. This allowed staff to ask Slack AI questions in plain language, and receive clear and concise answers fast.
As a result, Beyond Better Foods could easily access accurate and contextual logistical information and make more informed decisions quickly.
“The enhanced search capabilities of Slack AI have been really helpful to fast-track answers, especially when it comes to logistics,” notes Mr Andy Kung, vice-president of operations at Beyond Better Foods.
“When I need to get my CEO a fast answer at 2pm on a Friday, I can use Slack AI’s search function. I’ve only been using Slack AI for about a month, but it’s already helped me quickly find answers countless times and is saving me at least 30 minutes a day.”
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