How Can MSMEs Unlock the Value of GenAI

December 6, 2024

How Can MSMEs Unlock the Value of GenAI

India’s 63 million MSMEs (Micro, Small, and Medium Enterprises) form the backbone of the economy, employing over 15.5 crore people and contributing 30% to the GDP. Yet, limited resources and talent shortages often hinder their growth. Enter Generative AI (GenAI)—a transformative technology offering affordable, scalable solutions to automate tasks, create content, and streamline operations. With GenAI, MSMEs can compete with larger corporations and unlock new growth opportunities.

GenAI empowers MSMEs to boost productivity, efficiency, and customer engagement. It automates repetitive tasks, generates professional-quality content, and enhances customer support through AI-powered chatbots. By enabling data-driven decision-making, small businesses can now access insights once reserved for big players, driving innovation and personalization without large teams.

Adopting GenAI isn’t without challenges. Limited budgets, lack of AI expertise, and integration complexities remain obstacles. However, targeted training programs and selective tool adoption are bridging these gaps. Language barriers are also being addressed with emerging models like Ola’s Krutrim, which support Indian languages and make AI more accessible.

For MSMEs, GenAI is more than a tool—it’s a game-changer. By automating up to 70% of repetitive tasks, businesses can focus on strategic growth and innovation. Our CEO, Bhavesh Goswami, believes GenAI will revolutionize the MSME landscape—how will your business harness its potential? Click to explore the possibilities:

https://www.techcircle.in/2024/12/06/how-can-msmes-unlock-the-value-of-genai