Artificial Intelligence Software

What is artificial intelligence software?

Artificial Intelligence (AI) software mimics human behavior and learning patterns. It can be utilized in a variety of business areas, from customer service and sales (in the form of chatbots), to data analysis and IT task automation. Learn more about the benefits and features of artificial intelligence software for your Canadian SMB, as well as trends and other factors to consider before purchasing a new AI tool.

What are the benefits of artificial intelligence software?

The benefits of artificial intelligence software are wide-ranging and primarily focus on saving time and boosting efficiency for your Canadian small business. The benefits of AI tools include:

• Faster, more accurate data analysis: AI machine learning algorithms can sift through reams of data much faster than humans, and provide actionable insights you wouldn’t get from a run-of-the-mill software program.
• Let your customer service agents focus on what’s important: Natural language processing (NLP) applications powered by AI tools can help address customer problems and solve lower levels issues without human intervention, allowing your service agents to focus on truly intractable problems.
• Automate low-level tasks to save time: AI platforms can automate all kinds of tasks your team would otherwise spend significant time on, from predicting when a certain part will need maintenance to filling in common phrases in your email, up through automatic employee scheduling for your entire office.

What are the typical features of artificial intelligence software?

The typical features to look out for before choosing a new artificial intelligence software solution will depend on the size of your organization and the functionalities required. However, the following features are typically applicable for businesses of all sizes looking for AI tools:

• Machine Learning: Businesses can apply machine learning algorithms to business data such as sales and revenue, which can provide strategic insights at scale. Capterra's article on machine learning outlines the benefits of deploying ML technology for your small business.
• Speech recognition: Train your system to interpret and transcribe voice messages. This functionality can be used for anything from chatbots, to intelligent phone trees, to rich search functionality.
• Predictive analytics: Predict future data based on historical data sets.
• Virtual personal assistant (VPA): Program systems to assists users in their administrative responsibilities. Automatically capture notes and action items from meetings, set calendar appointments, or track progress with intuitive, voice-based interfaces.

The AI software directory lets you filter by feature(s) to only view options that meet your business needs, which can help you narrow your software shortlist.

What should be considered when purchasing artificial intelligence software?

Before purchasing artificial intelligence software, it's important to bear a few factors in mind to ensure you find the best AI platform for your small business. Things to consider before buying an AI tool for your SME include:

• Beware the hype machine: “Artificial intelligence” is a perennial [small business buzzword] that’s always on the verge of changing the world...next year. If you’re considering AI software, make sure you’re doing it for the right reasons: because you’re solving a real, significant business problem for your organization, and not just chasing a trend.
• Explore applications tailored to your industry: AI software is a broad term that can be almost meaningless if you lack a clear vision for what you need the tool to do within your business. Plenty of industry-specific applications are tailor-made to solve the problems you need them to in dedicated industries (e.g., healthcare, HR). For example, 61% of Canadians surveyed in 2021 by Capterra want to implement AI in telehealth. Shortlist products focused on your market, if possible.
• Make sure you have the right in-house expertise: A data analytics machine learning algorithm won’t be much help if you lack a data scientist or someone with similar skills to interpret the results and manage the software. While many AI systems are simple enough that you don’t need to hold a PhD in applied mathematics, others could be hard to understand without one. Evaluate any systems you’re considering for usability based on the skill sets available to you.

What are some relevant artificial intelligence software trends?

Just like most software that can be leveraged for small businesses, artificial intelligence software is subject to change based on industry trends. These trends include:

• Conversational user interfaces will make AI even more accessible: Being able to talk to your computer and have your AI software understand and take action based on voice commands will become more widespread in the next two to five years. With Amazon’s Alexa already showing the possibilities, expect smaller players to have some sort of voice functionality in the near future. According to our research, 68% of small and midsize businesses SMBs are using or plan to use conversational user interfaces within the next one to two years.
• Expect to see artificial intelligence functionality in every device you own: While your phone already has artificial intelligence capabilities, AI-enhanced devices will be exploding onto the market in just a few short years. From delivery drones and vacuuming robots, to thermostats and even coffee cups, AI-enabled tools will be learning how to do their jobs better so you can save time for bigger things. According to our research, 53% of SMBs are using or plan to use AI or machine learning technology within the next one to two years.