AI and Cloud Computing for Micro Businesses
Ten years ago, micro business owners (less than 20 employees)[1] could not afford or have access to all the technology, intelligence, and tools that were available to the Fortune 1000. That was the ‘Status Quo’.
The competitive playing field is leveling, and you need a very specific and clear plan of what you want out of artificial intelligence (AI), the type of data you need to collect.
You do not need a lot of data to get started. I started with a year’s worth data – partial address. Cloud computing, and other publicly available databases, I was able to collect 140 GB, 1.5 Billion data points and 120 Million contextual data points.
Cloud computing in the most simplistic perspective is the equalizer because I did not need to build out the complete environments or infrastructures. My buildout was deliberate and incremental. I wanted to maintain control of the contextual data that I had collected over 10 years. This also fits into my plan and not let accounting, tax, and payroll fall into the commodity trap. [2] I wanted to use AI and cloud computing to (1) maintain revenue, (2) maintain the quality-value ratio, (3) improve efficiency.
Data is the ‘New Normal’
Before you do anything, the first step should be to identify what it is you intend to do with AI and clearly map out the information, data, and databases you need to create an adaptive and learning algorithm.
Like many people, I thought that algorithms and Big Data are the most important element, but in fact, I found out that the quality of the data that feeds the algorithm directly influences the quality of your AI.
Be Curious and Believe
While implementing a cloud computing platform requires some expertise, you don’t have to be an expert – you just need a willingness to learn and try everything.
In fact, all major cloud providers allow prospective users to sign up free of charge to play around with their platform’s capabilities. This gives me a chance to develop an AI plan that can advance my business.
Micro businesses tend to be more nimble than larger organizations. Micro businesses don’t have the legacy infrastructure, a ‘status quo’ moat to defend or entire workforce that needs to figure out how to adopt new technologies.
There is so much that AI can do for businesses, and we are only scratching the surface in realizing its potential. All you really need is determination, willingness to learn and believe.[3]
[1] https://www.sba.gov/sites/default/files/advocacy/2018-Small-Business-Profiles-US.pdf
[2] http://fortune.com/2015/10/24/5-ways-to-avoid-commoditization/
[3] https://altitudemarketing.com/blog/you-cant-teach-fire-in-the-belly/