AI for MSMEs: Looking through changes toward progress

For smaller businesses, AI poses both opportunities and risks

- By MIGUEL LIBOSADA

Artificial intelligence (AI) is now the talk of the town. It plays an important role in various industries worldwide—technology representative of today's social fabric.

Several sectors—such as micro, small, and medium enterprises (MSMEs)—are adjusting to these developments. This is important especially for a country such as the Philippines, where MSMEs largely contribute to the livelihood of its people.

AI technologies present opportunities that MSMEs may use as leverage in various scenarios. On the other hand, imminent risks are also at play, leading these smaller businesses toward challenging situations in the midst of a competitive business world.

CHARTING THROUGH OPPORTUNITIES
MSMEs benefit from AI through various means, such as improving operational efficiency and getting market insights that help create data-driven decisions. Generative AI applications, at some point, help certain companies handle their marketing and content creation tasks.