Global fintech and funding innovation ecosystem

NFX: Start Thinking ‘Service-as-a-Software’

AI | Jul 11, 2024

Freepik AI assisted person interacting with AI robot - NFX:  Start Thinking 'Service-as-a-Software'

Image: Freepik (AI assisted)

SMEs will be Turbocharged as we move from 'AI Tools' to 'Guided AI Agents'

We agree with NFXs recent post that using "Guided AI Agents" instead of "AI tools" can automate a large amount of work and advance automation beyond simple job execution to produce efficiencies and specific business outcomes.  For the first time ever, there's a technology that can help solve the problem of 'delivering uniqueness at scale', and small-and-medium-enterprises (SMEs) need to take advantage of this momentous opportunity.

1. Automation Potential

“This very moment, we could easily automate away 60% to 70% of the global economy’s work hours with AI.”

2. From “Tasks” to “Outcomes”

Guided AI Agents represent a shift in focus from completing tasks to achieving outcomes. This approach enables businesses to measure success based on tangible results rather than the effort spent on individual tasks.

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“You can measure success in new customers gained, articles placed, deals closed. Outcomes.”

  • Marketing with AI increases conversion rates by 20% and customer satisfaction by 10%.
  • According to the Small Business Council, 93% of SMBs concur that AI is increasing profitability and saving them money.
  • Small businesses should provide AI services with the goal of producing quantifiable business results, making sure that fintech solutions complement the expansion goals of SMBs.

3. Delivering Uniqueness at Scale

SMBs have a variety of demands, and guided AI agents can meet those needs by offering customized solutions at scale. With the help of AI, small firms may now effectively compete with larger corporations by using AI to complete hard jobs.

“We can finally deliver uniqueness at scale.”

“Now, Guided AI Agents run in the background, requiring no additional time investment from the SMB.”

  • Guided AI agents can meets specific and unique requirements of SMEs in conjunction with best practices.
  • Provide AI-powered financial process management solutions that handle everything 'holistically' from payroll to invoicing, improving user experience and operational effectiveness.

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  • SMEs should incorporate AI solutions that run on their own, freeing up SMBs to concentrate on their core business operations while the AI takes care of intricate financial responsibilities in the background.

Outlook

The concept of "service-as-a-software" is driving this transformation, emphasizing the shift from traditional human-centric services to automated, scalable software solutions. Guided AI Agents embody this inverted thinking by offering tailored, automated services that can handle complex tasks and deliver specific outcomes without continuous human involvement leading to an increase in productivity.


NCFA Jan 2018 resize - NFX:  Start Thinking 'Service-as-a-Software'The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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