A couple of years ago, the concept of artificial intelligence had a distorted perception of robots taking over and sparked both curiosity and fear. How would the emergence of AI impact the world and what form would it take? Since then applications such as ChatGPT has become a leading technological tool.
Syft Analytics has explored AI and its impact in various ways. We joined the revolution back in 2024 and became the only AI-first reporting company. AI became integrated across the platform and Syft Assist was introduced where you can generate AI-powered insights about every graph and report. The introduction of Syft Assist was explored in a previous blog post "Syft leads the AI revolution in reporting ✨.
With this release, accountants and bookkeepers are able to make data driven decisions within seconds. Saving time and likely a bit of sanity. We have explored how to navigate and harness the power of AI as an account with our blog "Keeping up with AI as an accountant", which explores how to keep up with the tool and the best ways to harness it's power. While AI cannot replace human expertise, it can be used as a crucial tool in making data-driven decisions.
The same can be said for business owners. According to Jordan Crenshaw, senior vice president of the U.S. Chamber of Commerce Technology Engagement Center, small businesses are primed to benefit from AI as it can be used in multiple areas of a business. Tasks that once required significant human effort—such as scheduling, inventory management, or even customer support—can now be automated with AI-powered tools. For example, AI chatbots can handle customer inquiries 24/7. Syft, while continuing to provide and prioritize human customer support, has implemented an AI powered chatbot to provide assistance in the few hours human support is not available. Customers are being heard and helped around the clock while allowing our team to efficiently deal with incoming support requests.
For business owners looking to scale, AI provides the tools to do so efficiently. By automating many aspects of the business, owners can expand their operations without needing to dramatically increase their workforce. AI helps manage growth by streamlining operations, improving customer service, and making decision-making more data-driven.
Marketing and Human Resources are further examples of departments where AI can be adopted to enhance efficiency and streamline workflows. Email marketing is a key areas where AI can be used. AI can analyze customer data to send personalized emails based on user behavior, improving engagement and conversion rates. HR can implement tools to automatically screen resumes, highlighting candidates who match job descriptions. This reduces the time spent on the initial selection process, allowing HR teams to find the best candidates more efficiently.
Moreover, AI-powered tools can assist with supply chain management, financial planning, and human resource management—three essential components of scaling any business.
That said, it should be emphasized that AI should be viewed as a partner in growth as opposed to the solo driver. The true power of AI lies in its ability to augment human potential, not replace it. Business owners who recognize this and combine AI's capabilities with their expertise, creativity, and vision will be better positioned for long-term success.
Want to learn more? We recently spoke to Amba Lanning, Senior AI Business Consultant at Mindible Ltd, about how businesses actually use AI. You can listen to it here.