Boost Small Business Efficiency with AI Virtual Assistants

According to a 2023 report on Copilot for Microsoft 365, the productivity gains from using it were substantial. Drawing on a combination of surveys and experiments from people who used the assistant, the study found that:

• 70% of people said they were more productive, and 68% said it improved the quality of their work.

• Overall, people were 29% faster in a series of tasks (searching, writing, and summarizing).

• People were able to get caught up on a missed meeting nearly four times

• 64% of people said the assistant helps them spend less time processing email.

• 85% of people said the assistant helps them get to a good first draft faster.

• 75% of people said the assistant “saves me time by finding whatever I need in my files.”

• 77% of people said that once they used the assistant, they didn’t want to give it up.

• Data privacy and security concerns. If you don’t protect your data adequately, sensitive business information may be at risk. In the event of a breach, your organization might face public mistrust and financial losses. Ideally, the virtual assistant you pick will come with built-in safeguards.

• Initial investment and implementation costs. Adopting the wrong tool for the job or investing in technology that isn’t yet fully developed could lead to inefficient operations, wasted resources, and financial setbacks.

• Resistance to change. An AI assistant is only a powerful tool if people are willing to use it. It’s necessary for key stakeholders and employees to embrace AI and receive adequate training to experience the full benefits.

Beyond the immediate potential drawbacks just discussed, ethical considerations for adopting an AI virtual assistant have subtler, but still considerable, effects on areas such as fairness, employee morale, and brand perception.

One major factor is algorithmic bias, which is when AI unintentionally favors certain groups over others. Keep in mind that AI doesn’t discriminate like this on its own—it only knows how to do what it was trained to do. And, unfortunately, sometimes the people who develop technology have biases that are then unintentionally incorporated into the AI. This not only poses risks of unfair treatment but can also lower morale if employees see biased outputs.

To further explain ethical considerations, here are some examples by industry:

• In the medical and healthcare industry, ethical concerns may arise about patient data privacy and the potential consequences of diagnoses made from AI.

• Financial institutions face challenges related to algorithmic bias in credit scoring systems, potentially leading to unfair lending practices.

• In creative services, such as design, the use of generative AI for creating images may raise intellectual property and copyright issues.

As you research the right AI virtual assistant for your business, focus on the immediate and the ethical implications. Ask the salespeople for the products you’re considering about the training datasets in use and what measures are in place to eliminate bias and copyright infringement.

The future of AI virtual assistants

The AI impact on business has already been eventful, but there’s still much to come. In the future, AI virtual assistants will become more:

• Personalized and customizable, allowing businesses to tailor their virtual assistants to specific needs that don’t currently exist.

• Common across various business functions, allowing for greater efficiency and productivity.

• Focused on ensuring that AI is ethical and fair in its outputs.

• Likely to include a voice-activated function for natural, intuitive, and inclusive interactions.

If you’re just starting to explore what virtual assistants and AI can do for your organization, take the next step by reading an e-book on AI for business leaders or a guide to AI for small businesses.