How AI Can Empower SMBs to Do More with Less

According to the U.S. Chamber of Commerce, there are 85 workers for every 100 open jobs nationwide, and hiring managers are feeling the strain. According to a survey by Microsoft and LinkedIn, 58% of HR leaders, 56% of supply chain leaders and 55% of finance and accounting leaders are moderately or majorly concerned about finding enough talent to fill roles throughout the rest of the year ahead. Around half of manufacturing, sales and business development, and operations leaders are concerned, too. 

As the talent shortage continues, SMBs need to think about how to keep productivity and efficiency up even if hiring stays down. One way to do that is by leveraging artificial intelligence (AI). If you can implement AI-powered tools across your business, train your existing employees on those tools and focus your hiring efforts on people with AI aptitude, you’ll make it possible for your staff to perform at a high level, even if they’re shorthanded. And if you can advertise robust AI efforts in your job postings, you can make your company look more innovative and attractive to prospective applicants. 

AI-Powered Enterprise Software is a Good Place to Start  

AI-powered enterprise software can reduce time spent on tedious manual tasks, freeing up your existing team to focus on higher-value work. Regardless of how the talent shortage has impacted your company, everyone can become more efficient using AI.  

For example, Microsoft Power Automate can take care of things like data entry and order processing, which tend to take up a lot of time. And tools like Microsoft Power Apps make it possible to create custom apps quickly, which is ideal for businesses with specific needs that standard applications don’t always address. 

Chatbots are becoming more capable every day, and a tool like Microsoft Power Virtual Agents makes it easy to design one that can field and address basic requests on their own. That’s useful for customer service and IT teams who spend a lot of time helping with those basic requests. Each request may not take much time on its own, but that time adds up quickly, especially if you don’t have as many reps as you’d like. A capable Virtual Agent allows smaller teams to focus all their energy and resources on fixing more complex problems. 

Get the Most Out of AI with Proper Training 

That’s just a small sample of the many AI-powered tools out there that can help a shorthanded company do a lot more with less. But it’s not as simple as picking a tool and using it. These tools still require training, and so you’ll need to use some resources to make sure your team knows how to get the most out of whatever tools you choose. According to the Microsoft/LinkedIn survey, 3 out of 4 knowledge workers already use AI for their jobs, and if your business doesn’t provide a structure with best practices and guardrails, you risk misuse and lower returns on your investment.  

If you offer the right tools and training to your existing team, you’ll also be able to set yourself apart from the competition, who are dealing with the same talent crunch but likely aren’t making moves to truly enhance their efficiency and productivity. According to the same survey: 

• 45% of U.S. executives aren’t investing in AI tools for their employees 

• Only 39% of those who use AI at work have received AI training from their company 

• Only 25% of companies are even planning to offer AI training soon 

With an AI training program in place, you’ll also stand out to prospects, who are hunting for jobs that present opportunities to improve their skills and make them more valuable, both now and in the future.  

For the positions you’re hiring for, look for AI skills on prospects’ resumes and job profiles. Even if they don’t have the experience you’re looking for in a particular role, those skills could help them ramp up quickly. According to the survey, 71% of leaders would rather hire a less experienced candidate with AI skills than a more experienced candidate without them. 

And that’s how your business can navigate the talent shortage: by recognizing what “talent” really means now that AI tools are powerful enough to take care of a lot of basic tasks and then using your resources to give your people what they need to get the most out of those tools.