Small and medium-sized enterprises (SMEs) are increasingly turning to artificial intelligence (AI) to cut costs, improve efficiency, and reduce administrative burdens. From automating invoices to predicting cash flow, AI is reshaping the way smaller businesses manage their back offices.
In a rapidly evolving digital landscape, small and medium-sized enterprises (SMEs) are increasingly turning to artificial intelligence (AI) to streamline operations, enhance customer experiences, and drive growth. Once considered a luxury reserved for large corporations, AI technologies are now more accessible and affordable, enabling SMEs to compete on a more level playing field.
Small and medium-sized enterprises (SMEs) are increasingly turning to artificial intelligence (AI) to enhance their operations, improve customer experiences, and stay competitive in a rapidly evolving market. A recent study published in the Journal of Business Management highlights the key AI applications being adopted by SMEs and the challenges they face in implementation. The findings reveal that while only 28% of SMEs have integrated AI solutions, those that have are seeing significant benefits.
Artificial Intelligence (AI) is revolutionizing the way small and medium-sized enterprises (SMEs) operate, offering numerous opportunities to enhance efficiency, improve customer experiences, and stay competitive. Implementing AI in SMEs can seem daunting, but with a strategic approach, it can yield significant benefits.
Small and medium-sized enterprises (SMEs) are increasingly turning to Artificial Intelligence (AI) to revolutionize their accounting processes, improving efficiency, accuracy, and financial insights.AI-powered accounting software can automate tasks such as:
The recent pandemic has seen a dramatic move towards the use of technology in the business world. While the use of technology has in some instances increased productivity and eased the way of doing business, cybercrime has become is a global phenomenon with company data being hacked on an all to regular basis. The big question is who is responsible for the safety of data and privacy of information. South Africa has world class legislation which at times does not deter cyber criminals due to the lack of enforcement by authorities. Legislation clearly puts the onus on directors of a company to take all reasonable steps to protect sensitive data.
Within our new normal, e-commerce for many has become a great solution to navigate through the uncertainty brought upon us by the Covid-19 pandemic. Allowing businesses to continue trading while still observing strict social distancing measures, e-commerce helps to broaden the reach of businesses and grow their client base into areas that would otherwise be unreachable. With the addition of platforms such as Shopify or Wix, e-commerce has never been more accessible. Yet, even with the ease granted by these e-commerce platforms, some businesses still struggle to successfully implement their business into the digital realm.
A crypto asset is a digital representation of value that is not issued by a central bank, but is traded, transferred and stored electronically by natural and legal persons for the purpose of payment, investment and other forms of utility, and applies cryptography techniques in the underlying technology.
Implementing a new IT system for your business can be a daunting task. Many people find it difficult to initiate and cope with change, as well as to agree with colleagues on what the best way forward can be. Yet, it is important for every modern-day business who wants to maintain a competitive advantage within their market to implement and continuously improve upon their systems and processes. This challenging task requires buy in from all employees but must be driven by managers with a wholistic view of the business. Here are a few important points to take note of when implementing new systems:
Since the beginning of the COVID-19 pandemic, governments have put their countries into lockdowns – forcing businesses to adapt and work remotely. This sudden surge in internet usage has also seen a large increase in cyber-attacks, according to Mimecast’s 2020 state of email security report. The report showed that 61% of companies suffered from a ransomware attack, a 64% increase in email threats and a total of 79% of organizations were negatively affected due to their lack of cyber preparedness.
(ICTs), have shown to be major contributors to the effectiveness of many different businesses throughout the world and are constantly changing the way people and industries operate. ICTs can be defined as an array of technologies that are designed to collect, store, process and communicate information both internally as well as externally of an organization. This makes ICTs quite a broad category of technologies but some of the most common examples are cloud computing, mobile apps, networked environments and even the Internet!
Non-fungible tokens, or NFTs, have become quite a popular term over the past months with stories of people buying and selling them for millions of dollars. Yet, there is still confusion around the topic for many about what they are which we will hope to clarify by the end of this article.
As emerging technologies become more accepted and established throughout society, old problems become solved and new opportunities start to arise. Blockchain has been around for over a decade and has been popularized mostly through its association with cryptocurrencies. Offering numerous benefits, new applications of blockchain are constantly being researched in the hopes of disrupting industries. One of these applications is that of tokenization – specifically, the tokenization of assets.
Early in January 2021, Facebook’s messaging app WhatsApp received massive backlash in relation to an update of its privacy policy which was meant to take effect on the 8th of February 2021. Effectively, the update allows for new functionality to the businesses feature by allowing WhatsApp to reserve the right to share the different data it collects from you to other Facebook based apps.
The digital landscape is constantly evolving, and as more emerging technologies gain traction, more and more opportunities become available to businesses that need to be utilized otherwise they risk falling behind – especially now that we are living in a vastly different “New Normal”. It is now harder for businesses to only rely on word of mouth or the use of bulk emailing to keep their clients informed and must utilize all digital platforms in order to thrive.
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The COVID-19 pandemic has accelerated digital disruption and led to significant, long-term market uncertainty. While this pandemic has forced many businesses to reduce or suspend operations, affecting their bottom line, it has helped to accelerate the development of several emerging technologies. This is especially true for innovations that reduce human-to-human contact, automate processes, and increase productivity amid social distancing.
In the past few years we haven’t been sure who would present our budget speech let alone predict what was to be presented! While there are huge expectations that Minister Mboweni’s maiden full budget speech will deliver answers to all our problems, political and financial constraints will come into play. So, what are some of the key issues:
