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5 AI-Powered Small Businesses Ideas for Aspiring Entrepreneurs

AI based

Artificial Intelligence is a rapidly growing technology that has become part and parcel of almost all industries and daily lives of human beings. For aspiring entrepreneurs, AI now set opens many new opportunities. There are a lot of companies looking forward to building new ventures which can make use of AI applications. In order to succeed in this, they have to popularity AI and offer the benefits of the same to many people. From big multinationals to the local brick and mortar stores, everyone will be coming into the coverage of AI-based applications in the future.

As more and more enterprises are looking for innovative ventures powered by AI, you can really succeed as a startup by thinking of smart ideas to put forth AI as a common men’s technology to improve the quality of life and help resolve any existing problems. As the technology evolves, many industries will find easier and faster ways to access AI, machine learning, deep learning, etc., with a lower barrier to overcome. Considering the above facts and the increasing demand for AI-based technologies, here we are trying to explore a few AI-based startup ideas, which you can also explore for a potential small idea.

AI-based business ideas

1. AI-powered tax return system 

The income tax and commercial taxes returns for individuals and small businesses are quite a task for everyone. There are many regulations related to it, which the tax filers need to abide by. AI-driven services can have access to all such rules and regulations related to different personal and financial situations and do the filing more effectively. This will help save a lot of time and effort for the individuals. On doing the same, it could also make use of the advanced knowledge of algorithms to deliver more efficiency, which humans may not be able to achieve with perfection.

So, the chaos related to taxes may be eradicated with AI-based filing systems. With all data related to your earnings and expenses properly captured, an effective AI application can optimize tax returns. Individuals and companies can focus more on their resources and time on business instead of dealing with the paperwork and red tapes.

2. AI-based personal shopping assistant

This AI-based concept looks into what you are, your likes, your budget, and where you like to spend your money on. An intelligent AI assistant can factor in all these data to know your likes and dislikes in the context of your budget to give you suggestions of the most suitable products and services. An AI-based shopping assistant can easily mix up things to give insightful suggestions and browse the internet data and find out the best deals for you. This will help the consumers to save a lot of time and money.

3. AI-powered butler

For homeowners, maintaining a household is a fair lot of work. More often than not, people are busy, with both parents holding down jobs. Simply put, there is often not enough time to manage a household properly.

It is possible to Integrate AI-driven applications into a wide range of smart devices in our households. Once being set up properly, these can be used to control everything related to household maintenance ranging from lawn making to security monitoring. You can also get alerts when the supplies go scarce in the fridge or whether it is time to service your plumbing infrastructure at home etc.

An AI butler can be a personal assistant who lives in a live app on the user’s smartphones, which can give any time support. Effective data integration to the app is also essential, which can be sourced through several smart devices at home. All these data get into a centralized data warehouse, which has to be well managed. Remote offers AI database management assistance in both home and industrial settings. For the users, it will be possible to save their time and effort in a pristine household without constantly remembering the chores and running after the daily household management.

Going a step ahead, the smart AI butler can also be given a maintenance bank account for ordering food and other essentials as and when required. It could even open the door while the delivery people come and guide them to leave the packages with the help of cameras, smart speakers, etc.

How A.I. is Changing the World of Business

4. AI-based supply chain and logistic manager

Logistics and supply chain are other big industries, which include a lot of chaos in managing properly. There is a huge increase in fuel charges and transportation costs, so it is essential that one should think of optimizing the logistic and transport operations to save time and money. The responsible corporates also aim to reduce their carbon footprints on earth by implementing the most fuel-efficient and less carbon-emitting practices. 

Using an AI-based supply chain manager will help the decision-makers to oversee the whole supply chain system to monitor the new order and integrate the same with the existing infrastructure. There are also third-party services as Optergon route optimization for ensuring that everything from the warehouse to the client systems is managed and optimized for reducing cost and increasing efficiency.

5. AI-based farm management

Agriculture and farming have already been identified as one area which will largely benefit from AI application. These are, however, complicated sectors, and there are a lot of things to content. There is a big impact of climatic changes on farming, and it is getting harder year by year to plan the farming schedules based on the seasonal environmental hazards. An AI system can effectively monitor the crops with drones at large-scale agriculture. Cloud-based AI can be integrated with the existing technologies and help optimize farming operations in real-time. Along with handling the day-to-day operations of farming like spraying, watering, etc., AI-based systems can also take the ultimate decision in terms of how to react to any particular infestation, natural disasters, and so on.

Some other applications may include but are not limited to are AI-based market intelligence app, AI business analyst, AI physician assistant, AI financial / insurance advisor, and the options are plenty.

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