Developing Tools: Microsoft and Other Companies Support Small Businesses in Harnessing the Power of AI

Microsoft and other major companies are creating tools to assist small businesses in leveraging the power of artificial intelligence (AI). These tools are designed to help small businesses integrate AI into their operations more effectively. The growing availability of generative AI software is having a transformative impact on small businesses.

Small business owners are utilizing AI tools such as OpenAI’s ChatGPT, Google’s Bard, and others for tasks like checking grammar in emails, enhancing marketing copy, and researching business plans.

Moreover, larger companies are developing specialized tools to enable small businesses to embrace AI in more advanced ways. Microsoft’s Copilot, for example, allows users to instruct the software to perform tasks such as summarizing emails, identifying key themes in documents, or drafting emails in a conversational tone within Outlook. Initially available for companies with at least 300 employees, Copilot has now been expanded to all companies, including smaller businesses and solopreneurs, at a cost of USD 30 per month per employee for Microsoft 365 users.

In a similar vein, MasterCard is testing a product named MasterCard Small Business AI, designed to assist small business owners in analyzing data and accessing resources for business growth. The tool utilizes information from MasterCard’s content library, along with data licensed from media companies emphasizing inclusivity, such as Blavity Media Group and TelevisaUnivision. The plan is to launch the pilot in the US later this year, followed by international markets.