How SMEs can build AI competency – A roadmap for business leaders
September 2024
Artificial intelligence is no longer the exclusive domain of tech giants and research institutions. Today, AI competency is becoming crucial for businesses of all sizes, including SMEs, with 42% of companies believing that AI will increase overall productivity in their firm.
AI has the potential to unlock new efficiencies, uncover valuable insights, and drive business innovation. However, building AI competency can be a daunting task, especially for SMEs with limited resources.
In this blog, we’ll explore how SMEs can take strategic steps to build AI competency, providing a roadmap that includes setting clear objectives, identifying the right AI applications, investing in training, and fostering a supportive culture of experimentation.
Step 1: Setting clear objectives for AI adoption
Before getting started with AI, it’s essential to establish a clear sense of purpose. What are the specific business goals that AI can help you achieve?
AI is not a one-size-fits-all solution, and its potential varies depending on the unique needs of your organisation. By defining clear objectives, you can focus efforts on the areas where AI will have the most significant impact.
To help you determine what your objectives should be, ask yourself questions like:
- Where are we struggling to make data-driven decisions?
- What processes can be automated or enhanced?
- What key performance indicators (KPIs) will we use to measure AI success?
- What data do we currently have, and how can it support AI initiatives?
Once these pain points are identified, it’s easier to determine where AI can fit into your strategy.
Without clearly defined objectives, the journey to AI competency may lead to wasted resources on irrelevant tools or projects that don’t drive business value. Starting with the right questions allows you to chart a more effective AI roadmap that aligns with your overall business strategy.
Step 2: Identifying the right AI applications for your business
Once you’ve established your objectives, the next step is identifying the AI applications that best align with those goals. AI can take many forms, from chatbots and natural language processing tools to advanced analytics and predictive modelling. It’s crucial to understand the specific AI tools and technologies that are most relevant to your business.
For SMEs, this often means starting small and focusing on applications that offer immediate, tangible benefits. For instance, customer-facing businesses might explore AI-driven chatbots to enhance customer service. Retailers could leverage AI to optimise inventory management, while companies in logistics might use AI for route optimisation.
You should also consider whether you want to develop AI capabilities in-house or partner with external providers. Building a full-scale AI infrastructure can be resource-intensive, so many SMEs benefit from third-party platforms or cloud-based AI solutions that offer flexibility and scalability without the heavy upfront investment.
Step 3: Investing in training and development for your leadership teams
The foundation of any AI strategy is a workforce that understands how to effectively leverage AI tools and concepts. This is why investing in training and development is crucial, not only for technical teams but also for those in leadership positions. AI competency doesn’t just reside in machines – it’s in the people who manage, guide, and implement AI systems too.
For SMEs, building AI literacy across all levels of the organisation is essential. While it’s important for employees to understand AI-powered tools, it’s even more critical for leadership teams to be well-versed in AI. Leaders need to understand how AI can drive strategic decision-making, improve efficiency, and create new business opportunities. Without this understanding, leaders may struggle to align AI initiatives with broader business goals, potentially leading to missed opportunities or misguided investments.
At UpSkill Universe, we specialise in helping businesses equip their teams with essential AI skills. Our courses and training programs focus on both technical proficiency and business literacy, ensuring that leaders can confidently identify AI opportunities, guide implementation, and measure success to achieve real business outcomes.
Step 4: Fostering a culture of experimentation
AI competency doesn’t happen overnight. One of the key elements to building AI skills is creating a supportive environment where experimentation is encouraged. AI thrives in an experimental setting, where teams are empowered to test new ideas, iterate on projects, and learn from both successes and failures.
Business leaders must cultivate a culture where taking calculated risks is acceptable, and where employees are encouraged to explore AI applications without fear of failure. This requires a mindset shift, particularly in SMEs where resources may be tight, and experimentation might seem like a luxury. However, the long-term gains of allowing teams to explore innovative solutions far outweigh the risks of staying stagnant.
Encouraging experimentation also means setting up infrastructure and processes that support pilot projects. Start small with AI initiatives that can be scaled over time as you gain experience and confidence. Fostering a culture that supports learning and innovation allows you to continuously evolve your company’s AI capabilities.
Step 5: Accelerating AI competency
Building AI competency is a journey that requires ongoing learning and adaptation. For many SMEs, partnering with experts can dramatically speed up this process. From selecting the right tools to providing tailored training, working with a knowledgeable partner can give you the expertise you need to fast-track AI adoption.
At UpSkil Universel, we provide high-impact, hands-on learning experiences that cover everything from data and AI essentials to leading with Data and AI. Our platform can help you build the technical skills required to implement AI projects and the leadership capabilities needed to steer these initiatives towards success.
We understand the unique challenges SMEs face when embarking on AI transformation, and we provide flexible, scalable solutions that help organisations build long-term AI competency. Our courses are not just about technical skills but also about fostering a strategic mindset, empowering your teams to make AI an integral part of your business strategy.
Key takeaways
Building AI competency is no longer optional for SMEs looking to stay competitive – it’s a strategic imperative. Here are our key takeaways for business leaders looking to upskill their teams in artificial intelligence.
- Start with clear objectives: Identify the specific business challenges AI can solve, ensuring AI initiatives align with your overall business strategy.
- Identify the right AI applications: Focus on AI tools that directly address your objectives, starting with small, scalable projects that offer immediate benefits.
- Invest in training and development: Equip both technical teams and managers with the skills to understand and apply AI effectively, enabling informed decision-making.
- Create a culture of experimentation: Foster an environment where innovation is encouraged, allowing your team to explore and test AI applications without fear of failure.
- Partner with experts: Accelerate your AI journey by collaborating with experts like UpSkill Universe who can tailor training and learning experiences to your business needs.
Ready to build AI competency in your business? Let UpSkill Universe be your partner on the path to success!
