New tools being developed by Microsoft and other companies to assist small businesses in leveraging A.I.
Small businesses are experiencing a significant change due to the increasing availability of generative artificial intelligence software. Entrepreneurs are now utilizing A.I. tools such as OpenAI’s ChatGPT and Google’s Bard to enhance their email grammar, improve marketing content, and conduct thorough research for business strategies. Additionally, larger corporations are actively creating tools tailored to assist small businesses in implementing A.I. into their operations with greater sophistication.
With Microsoft’s Copilot, users can ask software to perform tasks such as summarizing an email or a Teams meeting, finding key themes in a document, or drafting emails using a conversational voice in Outlook.
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The service, which costs $30 per month per employee, was recently expanded from companies with at least 300 employees to all companies, so smaller companies—even “sole proprietors” with no employees—can use Copilot for Microsoft 365.
Meanwhile, MasterCard is piloting the MasterCard Small Business A.I. product, which aims to help small business owners analyze data and provide other resources to grow their business.
It uses data from MasterCard’s content library to answer questions from small business owners, as well as licensed data from media companies focused on inclusivity, such as digital media Blavity Media Group and Spanish-language media company TelevisaUnivision.
Mastercard plans to pilot the tool in the US later this year, with international markets to follow.
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