How the steps you use to source the right supplier can help you find the right AI tool for your business

Two years ago, ChatGPT changed the way we saw AI, making it accessible for all of us to incorporate AI into our everyday lives. It also spawned a whole industry of AI tools to help businesses big and small with activities like marketing, note taking, and drafting documents. Each day, new tools are being created and advertised as the next "game-changer".

With so much AI buzz, it can be hard to separate the signal from the noise. And while small businesses are optimistic about the potential of AI, we know that many owners may feel under pressure to use AI tools — even though they might not fully understand or need them. Understandably, it leads some to feel overwhelmed by the various AI suppliers available, while others feel that they lack the time, resources or technical know-how to get the most out of AI.

What you might not realise is that you already have the skills needed to find the right AI tool or suppliers for your business. The same skills that you've used to start, grow and run your business are invaluable - and skills that you use in your business instinctively. By applying the same principles and approach that you use to source and vet suppliers, you can find an AI tool that suits your needs. 

Let's go through the three practical steps that you can put into action today. 

Define your business needs
Imagine a carpenter with a toolbox full of specialised tools. Just because a new shiny power tool is invented, it doesn't mean the carpenter needs to buy it. Especially if it doesn't fix the fence they're building. 

If you enjoy writing your own marketing material, are good at it and customers love it, you don't need to switch to an AI marketing solution, especially if that isn't where the drudgery is. Similarly, if you need to meet all your suppliers face-to-face for quality checks, getting Google Gemini for meetings will be a waste of time. Don't feel pressured to use AI for something just because everyone else is doing it.

Every business is unique, with relative strengths and weaknesses. It is important to define your specific needs for AI within your business and avoid forcing it into areas where it doesn't add any value. Consider, where are you losing the most time, and focus on the highest impact areas to apply AI.?

The decision to use AI could be an individual or business choice. For example, if, like me, you are a terrible notetaker and can't multi-task, then an AI note taker may allow you to be more present in meetings and capture all the important details. Or if your business processes 50,000 invoices a month, then an AI-powered billing solution could stop you from burning time on manual data entry. 

Try before You buy 
Once you've identified where you want to apply AI, don't settle for the first AI vendor you find. You shouldn't commit to an AI supplier before experimenting and testing the tool. 

If you're a cafe owner, you wouldn't commit to a coffee supplier based on a single batch of coffee. A cafe owner might brew coffee from different suppliers to compare the flavour, aroma and acidity. They might measure the extraction yield to ensure the coffee is brewed correctly. They might examine the roasting profile to see if it matches the desired flavour profile.

Similar to coffee flavour profiles, there are industry-specific nuances between AI suppliers. One supplier might have better services for goods-based businesses, and another supplier may be better for services business, depending on the way they've optimised their product. Each AI supplier has its pros and cons, which means you need to get into your business first and try it out, before you make the final decision as to whether you incorporate it or not. 

Constantly monitor and measure 
Once you've chosen an AI supplier for your business, it is important to set a robust monitoring and measurement process to ensure AI tools are delivering against your needs. Just as you'd consistently measure food temperatures for raw ingredients and sanitise equipment in your cafe, you should also regularly monitor and adjust the AI tools you use in your business over time. 

Don't give your AI supplier an easy ride — they should have to justify to you why it is worth the money that you paid. Ensure that you use your trial periods, and don't get locked in to long-term contracts until you're sure the tool is working for you. Set clear benchmarks for what good looks like, and monitor its performance against those benchmarks, to ensure it remains aligned with your needs. 

Remember that Return on investment (ROI) is not always dollars and cents. If you save one hour a day on admin and you pay yourself a salary of $50 an hour, the cost saving is only $50. But the opportunity cost of that hour might be  that you get to see your kid's soccer practice. You can't put a price on that. Small businesses aren't always trading dollars for dollars, sometimes they're trading dollars for time. ROI can be a personal decision, not just a financial one. The financials are important, but don't be afraid to make a decision off the back of a personal ROI if that is what you want.

Ultimately, AI tools need to work for you, not the other way around. As a business owner, you may be more comfortable putting your other suppliers under scrutiny than you are with AI suppliers. But AI shouldn't get an easy ride: by applying the same rigorous processes that you use in other areas of your business, you can find an AI tool that helps you achieve your needs, meeting the same high standards you set for all other parts of your small business.