By now, it's almost impossible not to have heard of ChatGPT, Chatbots, or some level of AI. Artificial Intelligence (AI) has become an integral part of our lives and businesses, evolving from classical AI to the current era of Broad AI (LLM/Large Language Models, LAM/Large Action Models), and poised for the future of general AI/AGI. AI's exponential growth has reached a pivotal juncture where its presence will soon be ubiquitous: AI everywhere.

The AI Revolution Is Here

ChatGPT and other large language models (LLMs) have brought AI into the mainstream. As AI capabilities advance from narrow to general intelligence, AI will increasingly integrate into business operations. The question now is not whether to use AI, but how.

Why is it important?

While the amount of information we process can vary from as little as 11MB (Reber) per day, that’s roughly as much information in a single photo you might share in a chat, to as much as 34GB (Cantor) or 3 - 6 hours of HD Netflix video (Hindy). The point is that we process a wide range of information daily from subconscious brain work. For those of us that are actively processing there may be much more information that we need to take in and analyze.

AI Can Augment Human Intelligence

Constant information processing can tax mental capacity for entrepreneurs and small business owners. AI can minimize non-essential cognitive work to free up mental bandwidth. By combining AI and human intelligence, you make better decisions faster.

AI Enables Working Smarter

With AI, the focus shifts from working in your business to working on your business. By automating tasks, you save time and energy for high-level strategic work. AI augments human productivity so you can do less busy work

 and more meaningful work.

Using AI effectively (IBM) in your entrepreneurship or small business journey can help strike the right balance (Shah) between working in the business and working on the business.

No need to read a full article when you can summarize it with your favorite LLM (Large Language Model) chatbot. This frees us up to do less but MORE effective work while saving us time and giving us more free time to be humans.

Key Benefits of AI for Small Business

Using AI effectively delivers many benefits:

• Automate customer service with chatbots
• Summarize long content quickly with LLMs
• Streamline processes by automating repetitive tasks
• Generate new content based on your expertise
• Innovate by solving problems with custom AI solutions
• Create engaging experiences that delight customers

How can we help?

At NITM, we possess extensive expertise spanning classical AI to the burgeoning era of broad AI. We specialize in curating bespoke solutions tailored to your business requirements, optimizing cost-effectiveness and efficacy.

We understand how to choose, tailor, and deliver the right solutions for your needs. More importantly, we can help you save money by understanding what’s out there and how to best apply it to your specific use case.

Our areas of expertise include:

• ML (Machine Learning) design, training, implementation, and deployment of either supervised, unsupervised, or reinforcement-based solutions that work with your unstructured data to provide insights, surface recommendations and take action
• LLM (Large Language Model) based chatbot design, training, implementation, and deployment for delivering solutions that provide legitimate and real value to your customers and users.
• Deep AI solutions, modeling, training, and deployment for creating custom models specific to your domain that can predict and act on your business's behalf
• The effective crafting and development of a product around your solution for a result that is not just impressible but usable

Further Reading

• Hindy, Joe. “How much data does Netflix use? We tested it, here's what we found.”Android Authority, 12 December 2023, https://www.androidauthority.com/how-much-data-does-netflix-use-976146/. Accessed 21 January 2024.
• IBM. “Humans vs. AI: who makes the best decisions?”YouTube, 15 February 2022, https://www.youtube.com/watch?v=8lo1s29ODj8. Accessed 21 January 2024.
• Reber, Paul. “What Is the Memory Capacity of the Human Brain?”Scientific American, 1 May 2010, https://www.scientificamerican.com/article/what-is-the-memory-capacity/. Accessed 21 January 2024.
• Shah, Kinjal Dagli. “Why You Should Work IN Your Business, Not ON It.”Gusto, 3 October 2018, https://gusto.com/resources/articles/business-growth/entrepreneur-advice/working-on-vs-in-your-business. Accessed 21 January 2024.