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The Isle of Man is home to a diverse range of industries and business types, from eGaming to financial services. As a managed IT and technology solutions provider, we understand the unique challenges small businesses face on the Island. One way to stay ahead is by embracing emerging technologies, such as generative AI and platforms like OpenAI and ChatGPT. In this blog post, we’ll explore the benefits of generative AI for small businesses, show you how to get started, and discuss how it integrates with familiar tools like Office 365 and Teams.

What is Generative AI?

Generative AI refers to a category of artificial intelligence that can create new content, such as text, images, or music. It uses advanced machine learning algorithms to learn from vast amounts of data and generate new outputs based on that knowledge. ChatGPT is an example of a generative AI platform designed to understand and conversationally respond to user input.

Benefits of Generative AI for Small Businesses

Boosting Productivity

Generative AI can help automate repetitive tasks, such as drafting emails or generating reports, freeing up your team’s time to focus on more strategic activities. This can result in increased efficiency and productivity across your organization.

Enhancing Customer Experience

You can quickly and accurately respond to customer queries by integrating generative AI into your customer support channels. This can improve customer satisfaction and help you maintain a strong Isle of Man business community reputation. AI can also judge the sentiment and tone of customer communications, highlighting any cases or e-mails that may become an issue.

Example

In this example, we have an e-mail from a (fictional) customer complaining about their CRM.

We asked ChatGPT to do the following:

Can you analyse this e-mail and tell me:

• Customer sentiment
• Recommended actions
• Possible issues

This is the result:

Customer sentiment:

The customer sentiment in this email appears to be concerned and mildly frustrated. Jane is experiencing issues with their CRM system, and while they appreciate your assistance, they are not satisfied with the vendor’s support.

Recommended actions:

1. Respond to Jane promptly, acknowledging the issue and expressing empathy for the situation.
2. Investigate the CRM slowdown issue by analyzing the network usage and server loads during peak hours. This could help identify if the issue is related to the internet connection or other internal factors.
3. Collaborate with the CRM vendor to gather more information and troubleshoot the issue. Their expertise may be necessary for a comprehensive solution.
4. Update Jane with your findings, any identified issues, and the steps taken to resolve them. Provide an estimated timeline for a resolution if possible.

Possible issues:

1. Network congestion during peak hours: The slowdown at lunchtime could indicate higher internet usage at that time, causing a bottleneck in the connection.
2. Server overload: The CRM system’s servers might be struggling to handle the increased traffic during lunchtime, causing a slowdown in performance.
3. Insufficient resources: The CRM system may not have enough resources allocated to handle peak usage, resulting in a degradation of performance.
4. Hardware or software issues: There might be an underlying hardware or software problem causing the slowdown, unrelated to the internet connection.

As you can see, this was an accurate analysis of the e-mail and the next steps.

This is a straightforward example – and ChatGPT can handle much more complex tasks, mainly if you provide more context.

Streamlining Content Creation

Generative AI can assist with content generation, whether it’s creating engaging blog posts, social media updates, or marketing materials. This can save you time and resources while maintaining a consistent brand voice. You can define the tone, target audience, and word count and emphasise the need for search engine optimisation or keywords. You can even share past content for the system to understand your style and tone.

Facilitating Data Analysis

Generative AI can help analyze and interpret large amounts of data, uncovering valuable insights to inform business decisions. By harnessing this technology, you can make more informed choices and stay ahead of your competitors. You can provide the system with reference material; reports, accounts and similar documents – before asking questions or seeking comparisons.

Getting Started with Generative AI

Assess Your Needs

Before implementing generative AI, evaluate your organisation’s needs and identify areas where AI can provide the most value. Consider tasks that are repetitive, time-consuming, or require a high level of creativity.

Explore Available Platforms

Research various generative AI platforms like ChatGPT or OpenAI’s Codex to find the best fit for your business. Look for platforms that integrate seamlessly with your existing infrastructure and offer a user-friendly interface. ChatGPT can help your developers write the code to interface with OpenAI’s API!

Pilot and Iterate

Start with a small pilot project to test the capabilities of your chosen AI platform. Gather feedback from users and make adjustments as needed to optimize performance.

Based on our own experience, the following areas are easy to implement:

• Question and answer. Detailed, insightful answers where staff would otherwise use a search engine.
• Content creation. Assistance with writing or reviewing e-mails, reports, website articles or datasheets.
• Content review. Upload and share a document using OneDrive, and ask ChatGPT to analyse the results. Ask questions, ask for comparisons, etc.

Integration with Office 365 and Teams

Microsoft offers AI-powered services that integrate seamlessly with Office 365 and Teams, enhancing collaboration and productivity. One example is Microsoft’s Power Automate, which can help automate workflows and streamline tasks. Additionally, Copilot, an AI-powered code completion tool, can assist developers in writing code more efficiently within the Visual Studio Code environment.

Enhancing Office 365 Capabilities

Incorporate AI-driven features like Microsoft’s Text Analytics and Translator services to automatically analyze and translate text within your Office 365 applications. This can help you better understand customer sentiment and improve communication with international clients.

Coding Assistance with Copilot

Visual Studio Code developers can use Copilot, a generative AI tool that provides code suggestions based on context. By integrating Copilot into your development process, you can reduce the time and effort spent on coding tasks. Copilot is rolling out in 2023 and will be incorporated into a range of Microsoft 365 products and services.

You can learn more about Copilot here:

Introducing Microsoft 365 Copilot | Microsoft 365 Blog

Streamlining Workflows in Teams

Microsoft’s AI Builder allows you to create custom AI models that integrate with Power Apps and Power Automate within Teams. This can help you automate routine tasks directly from the Teams interface, such as approving expenses or managing customer support tickets.

How MTG can assist

MTG can assist your organisation in several ways:

• Tailored Consultations: We’ll help you assess your business needs and identify the most suitable AI solutions to address your unique challenges.
• AI Platform Selection: Our team will guide you in choosing the best generative AI platform that aligns with your objectives and integrates seamlessly with your existing infrastructure.
• Customized Implementation: We’ll develop a tailored implementation plan, ensuring a smooth integration of AI solutions into your business processes.
• Training and Support: We’ll provide comprehensive training for your team to effectively use generative AI tools and ongoing support to ensure your success.
• Performance Optimization: We’ll monitor the performance of your AI solutions and make necessary adjustments to maximize efficiency and achieve your desired outcomes.
• Security and Compliance: Our experts will ensure that your AI implementations adhere to industry standards and maintain the highest data security and privacy levels.
• Scaling and Future-proofing: As your business grows, we’ll help you scale your AI solutions and stay ahead of emerging trends and technologies.
• Ongoing Innovation: We’ll inform you about the latest advancements in generative AI, offering insights and recommendations to enhance your business operations further.

Conclusion: Embrace Generative AI for a Competitive Edge

Generative AI has the potential to transform the way small businesses in the Isle of Man operate, enhancing productivity, customer experience, and decision-making capabilities.

By understanding the benefits and integrating AI platforms with familiar tools like Office 365 and Teams, you can stay ahead of the curve and maintain a competitive edge in your industry.

Maintaining a balance between profitability and compliance can be daunting in the highly regulated financial services industry. Small financial services businesses are subject to various controls by regulators and cyber-insurers, making compliance a critical aspect of their daily operations. At the same time, these businesses must also focus on growing and maintaining their bottom line. This is where managed IT services for financial services come into play, offering a comprehensive and cost-effective solution enabling financial services firms to achieve their compliance and profitability goals.

RMM for Patching, Monitoring, and Management

One of the cornerstones of a well-managed IT infrastructure is staying up-to-date with software patches and updates. Remote monitoring and management platforms automate this critical process, ensuring your systems are always patched, monitored, and managed. By deploying RMM, MTG can help small financial services businesses significantly reduce their exposure to potential security vulnerabilities, minimize the risk of data breaches, and maintain compliance with regulations.

Sophos Intercept-X and MDR for Advanced Threat Protection

As cyber threats evolve and become more sophisticated, financial services firms must proactively protect their sensitive data and comply with regulatory requirements.

Sophos Intercept-X and Managed Detection and Response (MDR) provide advanced threat protection by leveraging artificial intelligence and machine learning to detect and neutralize malware, ransomware, and other cyber threats. By incorporating Sophos Intercept-X and MDR into your IT security strategy, you can achieve a higher level of protection for your business and ensure regulatory compliance.

24×7 Helpdesk for Support

In the fast-paced world of financial services, issues can arise at any time. Access to a 24×7 helpdesk for support is essential to keeping your business running smoothly. Our dedicated team of experts is always available to address any IT challenges, providing prompt and efficient resolutions. This level of support ensures minimal downtime, allowing your financial services firm to remain productive, competitive, and compliant.

Expertise in Office 365 and Familiarity with Purview Compliance Tools

Microsoft Office 365 is a popular choice for many financial services businesses due to its robust suite of productivity tools and cloud-based infrastructure. Our team of experts is well-versed in Office 365 and can help you make the most of its capabilities.

Additionally, we are familiar with Purview, Microsoft’s suite of compliance tools, including eDiscovery, which streamlines the process of searching, locating, and preserving data required for regulatory purposes. By leveraging our expertise in these areas, your business can enhance its operational efficiency and compliance posture.

Security Controls to Ensure Compliance

Implementing strong security controls is paramount for financial services firms seeking to comply with regulations. Our managed IT services include several security measures, such as Sophos Intercept-X for advanced threat protection, multi-factor authentication (MFA) to verify user identities, and automated patching and auditing to ensure your systems are up-to-date and secure. These security controls safeguard your business from potential cyber threats and help you achieve and maintain regulatory compliance.

A Range of Backup Solutions

In the event of data loss or a system failure, having a reliable backup solution is crucial for any financial services business. Our managed IT services offer a range of backup options tailored to your specific needs, ensuring your critical data is always protected and easily recoverable. By implementing a robust backup strategy, you can minimize the impact of data loss incidents on your business operations and maintain compliance with data protection regulations. These include off-site backups, cloud backups and cloud-to-cloud backups (i.e. Office 365)

Conclusion – Managed IT Services

Balancing profitability and compliance in the financial services sector can be challenging, but it becomes much more achievable with the right managed IT services partner. Our comprehensive suite of services, including RMM, Sophos Intercept-X, 24×7 helpdesk support, Office 365 expertise, and robust security controls, enables small financial services businesses to meet their compliance requirements while focusing on growth and profitability.

By partnering with us, you can rest assured that your IT infrastructure is in expert hands, giving you the freedom to concentrate on what truly matters: the success of your business.

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