In today's fast-paced world, technology is rapidly evolving and changing the way we live our lives. Artificial intelligence (AI) stands out as one of the most transformative technologies of the century. The application is practically endless. It's an exciting time to be an entrepreneur or run a small business. For the first time, AI is leveling the playing field, allowing small companies to compete with large conglomerates.

Embracing new technologies can be a scary and intimidating risk. Fortunately, there are some practical ways small business owners can start adding AI to their toolkit today.

Related: How small and medium-sized businesses can use AI to compete with large companies

1. Automate repetitive tasks

One of the most immediate benefits that AI brings to small businesses is the ability to automate time-consuming, repetitive and routine tasks. The reality is that entrepreneurs often wear many hats as they juggle both the operational and administrative tasks of their company. Tasks such as data entry, scheduling appointments and invoicing can take valuable time away from making sales and growing the business. In addition, automating processes can help reduce the risk of costly mistakes and human error. AI tools can be used to accurately update customer data, generate reports and process billing to reduce costs.

Entrepreneurs should start by examining the software they currently use. Most of the big tech companies are investing in adding AI features to their tools. Implementation of AI it can be as simple as learning to use the AI ​​capabilities already available to you and your team. You can also implement new AI-powered tools like Zapier to help streamline tasks from different apps and automate workflows.

2. Provide 24/7 customer support

For many small businesses, providing consistent and reliable customer support is challenging due to limited resources. This is especially difficult at a time when consumers are accustomed to instant gratification. When potential customers cannot reach a business outside of their hours of operation, they will usually move on to a competitor. Chatbots with AI can be programmed to handle a wide range of questions, including answering product FAQs, guiding them through the sales process, resolving issues, or directing customers to helpful resources.

Tools like chatbots can be added to websites to help businesses transition to providing 24/7 customer support. Even during regular business hours, chatbots can also reduce the strain on the team or help with unexpected spikes in customer requests. These types of communication tools can help improve customer satisfaction and avoid missed sales opportunities, regardless of time zone or staff availability.

Related: Artificial intelligence for the future: 5 powerful reasons why small businesses should get on board

3. Improve the customer experience with personalized marketing

Personalization has become one of the main drivers of customer satisfaction and loyalty. Consumers today want unique and personalized experiences. Manually personalizing marketing messages, offers and product recommendations can be a tedious process for small businesses. AI makes this easy by analyzing large amounts of customer data and tailoring marketing campaigns to specific user needs.

Platforms like HubSpot and Google Analytics are a great place to start when looking to track and understand user behavior. Other AI tools can then be used to create personalized customer journeys that improve the ability to close sales and improve the customer experience. The best part for an entrepreneur is that this can be achieved without a huge marketing budget.

4. Performance monitoring and decision making

Entrepreneurs often have to make important decisions that can affect the future of their business, such as deciding on a new product, expanding into new markets or implementing a different operating model. Good quality data and insights are critical to making great decisions. AI can act as an entrepreneur's personal team of analysts combing data to find patterns or anomalies, and this can be beneficial to the business.

In addition to driving assistance DECISIONdata visualization tools like Tableau and Power BI can turn this data into useful metrics and key performance indicators. This can provide valuable insight into whether the company is operating effectively.

5. Scaling your business

As a business grows, managing operations can become quite complex. Statistically speaking, huge most growing businesses (92%) struggle to grow their operations. This is a major challenge for small businesses that have limited resources to facilitate this expansion. By implementing AI tools, small businesses can proactively design processes and tools that are designed to handle a higher volume of customers. This ensures that business operations will not be affected if the business experiences a sudden surge in sales and needs to grow quickly.

Related: Small businesses have fewer resources than large companies. Here's how AI can fill in the gaps.

AI is no longer a tool reserved for large corporations. Entrepreneurs and small business owners now have access to powerful AI technologies that can help them work smarter, instead of harder. Whether it's automating routine tasks, improving customer support or scaling operations, adding AI to your business toolkit can provide the agility and efficiency needed to thrive in a competitive market. As AI continues to evolve, small businesses that embrace these technologies will not only evolve level the playing field but it also opens up new growth opportunities that were once out of reach.