forbes.com
Small Business Tech News: AI, Payments, and CRM Updates
This week's small business tech news covers AI's impact on productivity and customer service, improvements in payment processing, and advancements in CRM for insurance agents.
- How are advancements in AI and CRM impacting customer service and insurance operations?
- AI-powered chatbots and virtual assistants are transforming call centers, handling routine inquiries and freeing human agents for complex issues. However, this transition also raises concerns about job displacement. In the insurance sector, Agent CRM's Data Bridge eliminates manual data entry, streamlining workflows and increasing efficiency for insurance agents by connecting their CRM directly to enrollment platforms.
- What payment processing challenges are small businesses facing, and what solutions are available?
- Visa research indicates that payment processing errors and manual data entry significantly hinder small business sales. Customers experience payment issues twice as often with SMBs compared to larger retailers. Solutions include utilizing stored payment credentials, biometric authentication, and BNPL options, often through third-party providers to ease technological burdens and level the playing field with larger competitors.
- What are the key findings from the Microsoft Copilot study, and what do they mean for small businesses?
- A UK government study found that while Microsoft Copilot boosted user satisfaction, it didn't demonstrably improve productivity. Time saved on tasks was offset by verification needs, highlighting the current limitations of AI and the need for human oversight. For small businesses, this suggests that while AI tools offer potential, they require careful integration and shouldn't be expected to immediately solve productivity issues.
Cognitive Concepts
Framing Bias
The article presents a balanced view of the impact of AI on small businesses, acknowledging both potential benefits and drawbacks. The "Why this is important for your small business" sections offer practical advice and don't oversell the positive or negative aspects. However, the headline, "Here are five things in tech that happened this week and how they affect your small business. Did you miss them?", could be interpreted as slightly sensationalist, implying a greater urgency or significance than the content fully supports.
Language Bias
The language used is largely neutral and objective. There's a conversational tone, but it avoids overly positive or negative descriptors. For example, while the author states that some results are "mixed", they don't use loaded language to disparage or promote any specific technology. The author appropriately uses words like "concerns" and "predicting" instead of stronger, more biased terms.
Bias by Omission
The article focuses on the impact of AI on small businesses, but it might benefit from including perspectives from employees in those businesses. It mentions job losses in the call center context, but doesn't delve into the potential impact on other roles or how small businesses might mitigate those effects. Omitting the workers' perspectives creates a slightly incomplete picture.
Sustainable Development Goals
The article discusses the impact of AI on jobs, specifically in call centers. While some jobs may be lost due to automation, there is also potential for increased efficiency and the creation of new roles focused on managing and overseeing AI systems. The integration of AI in customer service, for example, could lead to improved efficiency and potentially higher revenue for businesses, contributing to economic growth. The article also highlights how AI tools can help small businesses reduce payment processing errors and improve sales, thereby boosting their economic performance. The increased efficiency from tools like Agent CRM also contributes positively to this SDG.