Over the past few years, more and more small businesses have begun to adopt new technologies within their setups, and it is predicted that, at the current rate of growth and technological adoption, it won’t be long before small businesses compete more closely with larger conglomerates. A large part of this is the increasing introduction, as well as overall simplification, of AI and how it can be used to support and improve business functions.
We’ve seen a number of new tech and AI models introduced over the past 12 months, and it is this which is giving small businesses the confidence to adapt and overcome certain challenges. Pair this with the growing adoption of cryptocurrency in business, and some small businesses seem to have found the winning formula for growth and performance enhancement. With that in mind, let’s take a look at the ways blockchain and AI can help small businesses.
Supply Chain Management
As blockchain technology is now easier to access, businesses have begun to understand better the complications that centralised systems can bring. Cost efficiency allows these systems to thrive, but reduced flexibility and challenges with communication have led to an increase in the number of businesses looking …