AI Drives Innovation for Small Business Franchise Owners

Sponsored Content by Qubo Technologies

Artificial intelligence (AI) is making its way to small business owners, including smaller multi-unit franchisees and single-unit franchise operators. While the headlines around machine learning, cognitive computing and other AI applications are flashy and catch the eye of technology enthusiasts, the reality is that many franchise owners are much more interested in how AI can improve the nuts-and-bolts elements of their operations while supporting long-term strategy and business goals. In short, how do you raise profits and build your brand throughout the local community while simultaneously lowering stress levels across your operation and increasing your personal sense of well-being?

On top of worrying about the competition, being a successful small business owner involves wearing many hats. Finance, operations, management, marketing and monitoring the health of your business are just a few of the priorities on your list. Thinking about your business around the clock isn’t just a key to success, at times it can be central to survival. Removing some of that extra noise so that you can focus your efforts on the long-term — or even find a path to a night out — can make all the difference.

Enter AI. Cognitive computing and machine learning are no longer just tools for large technology conglomerates. It’s much easier than you might realize to bring AI to your franchise. Here are three of the applications where AI can help your franchise, today.

Area 1: Marketing and Lead Generation

Do you have a limited budget for marketing? AI can give you the ability to interpret customer preferences and feedback data while automatically adjusting lead generation and marketing programs, at a low cost. It gives you access to more data with the ability make faster and better-informed decisions. There’s even a side benefit: connecting further into your data will allow you to disconnect when you need to, without feeling like the business has stopped moving forward.

Related: The Rise of Artificial Intelligence for Franchising

https://www.franchise.org/blog/the-rise-of-artificial-intelligence-for-franchising

Area 2: Operations and Finance

Franchise owners are the ultimate multitaskers, juggling various priorities and finding a way to make it work. The only problem is that “making it work” is sometimes achieved at the cost of family time or personal wellness. AI can help support finance and human resources activities, in addition to lots of the little things that tend to bog down franchise owners. While it is not going to solve all your problems, AI can help you get ahead of the proverbial curve with your operations, personnel and finance data.

Area 3: Connecting the Dots

Success in any business revolves around getting the data you need and taking action to achieve results. AI can bring numerous benefits, including the thing that often takes the most time — thinking. Computers were built to help people solve problems by calculating scenarios at speeds thousands of times faster than the human mind. Adding all that brainpower into your operation could make the difference between staying on course and taking the lead, or watching your competitors pass you by.

Looking Ahead

Running your small business in 2020 without taking advantage of modern AI technology is like driving a car while solely looking at the rearview mirror — your chances of eventually crashing are nearly guaranteed.

There is no magic button to click and get it all done. However, AI technology in 2020 can get you closer to that concept than ever before. AI has become more affordable, easy to use, and capable. It can help you see financial projections to look at the road ahead, manage your data, improve marketing and lead generation efforts while streamlining operations, and that’s just for starters. Who knows? Maybe it can even help you with the one thing everyone seems to be searching for — time.

Gustavo “Gus” Guimaraes is Global CEO of Qubo Technologies, maker of the AI-powered Qbot data assistant for franchising. Learn more at qubo.uno/qbot.