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Microsoft and Others are Assembling New Tools to Help Small Businesses Capitalize on AI

CIO Insider Team | Wednesday, 24 January, 2024
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An influx of generative AI software is transforming small businesses. Small business owners use AI tools like OpenAI's ChatGPT, Google Bard, and more to check email grammar, create marketing copy, and research business plans.

What's more, larger companies are developing tools to help small businesses integrate AI into their operations in more advanced ways. Microsoft's Copilot lets users ask the software to perform tasks like summarizing an email or meeting in Teams, coming up with key topics in a document, or drafting conversational emails in Outlook.

The service, which costs $30 per month per employee, was recently expanded from companies with at least 300 employees to all companies, so smaller businesses — even "solopreneurs" with no employees — can use Copilot for Microsoft 365.

Meanwhile, MasterCard is piloting a product called MasterCard Small Business AI that aims to help small business owners analyze data and offer additional resources to help them grow their business.

They are committed to making the promise of AI a reality and responsibly developing and democratizing this technology as a platform for people to use, build on, and benefit from AI innovations

It uses information from MasterCard's content library, as well as information licensed from inclusive media companies, including digital media company Blavity Media Group and Spanish-language media company TelevisaUnivision, to answer questions from small business owners.

Mastercard plans to pilot the tool in the US later this year, with international markets to follow.

Microsoft's advances in AI are driven by the company's mission to enable every person and organization on the planet to achieve more—from helping people be more productive to solving society's most pressing challenges.

They are committed to making the promise of AI a reality and responsibly developing and democratizing this technology as a platform for people to use, build on, and benefit from AI innovations.

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