AI Implementation In MSME Industrial Sectors

Abstract

Information Technology plays the most vital role in upgrading the profitability of organizations. It even gives rise to Micro, Small, and Medium Enterprises (MSMEs), making them think about the research and development and the availability of the latest technology. IT is a mechanism, which enables SMEs to respond to customers' complaints and requirements efficiently by allowing information to be transmitted through various mediums, including emails, telephonic, and social media channels. Enterprises can use multiple platforms of IT services for learning, marketing, and advertising, selling their products and services, and trading, among various other uses of this technology.

AI and other machine learning tools are an excellent way to help SMEs achieve their goal of consistent business growth in today's competitive environment. They allow SMEs to effectively delegate routine tasks by innovative yet fast methods/technologies, allowing executives to focus on other creative avenues that can help businesses grow.

COVID 19 saw a tremendous change in the working pattern of all organizations. Large corporations and companies shifted to Online Platforms and other such internet based platforms for conducting their business. However, MSMEs did not have the capital to move towards these platforms on their own. Therefore, research was required to enable them to transition into the phase of digital marketing with the help of Artificial Intelligence. COVID 19 drove the business platforms to start developing their own version of online assistance to be able to keep up with the times which was completely turned upside down in the era of disruption.