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Leveraging AI for Small and Medium Business Growth

Leveraging AI for Small and Medium Business Growth

1h 32mGeneral2025-03-04

Authors

Stefan Michel

Stefan Michel

Professor at IMD, Author, International Marketing Consultant

Course details

Artificial Intelligence can be the secret weapon to create growth for small and medium businesses (SMBs). In this course, Stefan Michel offers a proven canvas for AI adoption that enables SMBs to compete with larger firms. The first step is learning to think strategically about AI, exploring the four primary AI categories and how each can drive success. Discover whether your company is an AI taker, maker, or creator and learn how to estimate ROI for AI use cases. Next, identify practical AI applications, from automating operations and enhancing customer experiences to revolutionizing marketing and HR. Learn how to develop an AI strategy for your company and create teams of “AI explorers.” Finally, Stefan covers critical aspects of AI for business: understanding AI system biases, ethical AI, and how to data privacy and security considerations.

Learning objectives
Identify the four categories of artificial intelligence—expert systems, machine learning, generative AI, and AI Agents—and describe their respective applications within a business context.
Develop a canvas for each AI use case that outlines how AI can streamline operations, improve customer experiences, and/or innovate business processes for your company.
Explore and describe the ethical considerations, biases, and risks associated with artificial intelligence systems.
Embed AI use cases in your strategy and create teams of AI explorers.

Skills covered

Small Business ManagementBusiness StrategySmall Business and EntrepreneurshipArtificial Intelligence for BusinessBusiness Analysis and StrategyLeadership and ManagementOne-Off

Concepts

0. Introduction

  • 01 - AI - The secret weapon for small business
  • 02 - What to know before starting this course

1. Think Strategically about AI for Your Company

  • 03 - The four categories of AI
  • 04 - Three AI success drivers
  • 05 - Are you an AI taker, maker, or creator
  • 06 - Estimating ROI for an AI use case

2. Identify AI Use Cases

  • 07 - Describing AI use cases with the AI canvas
  • 08 - AI-powered inventory management
  • 09 - AI-enabled content marketing in multiple languages
  • 10 - Enhancing customer experience with chatbots
  • 11 - Improving HR management with AI

3. Implement AI in Your Company

  • 12 - Starting with problems, ideas, or data
  • 13 - Strategy as a learning process
  • 14 - Boosting AI literacy on your team
  • 15 - Creating teams of explorers for the future of AI
  • 16 - Scaling AI use cases beyond proof of concept

4. Ethics, Responsible AI, and Risk Management

  • 17 - AI ethics for small and medium business
  • 18 - Understanding AI systems' biases
  • 19 - Data privacy and security considerations
  • 20 - Risk management for AI projects

Conclusion

  • 21 - AI - Your future AI roadmap for growth

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