Launching and operating a small business is both an exciting and challenging experience. As a small business owner, you oversee (or directly handle) every aspect of your enterprise, from completing daily tasks to making big-picture decisions. By now, you have likely heard of—or even played around with—the generative artificial intelligence (AI) tools that have exploded in recent years. For instance, generative AI tools like ChatGPT have reshaped several industries, allowing companies to entrust many of their content writing needs to this technology without the considerable time and cost of having human employees handle these tasks. Naturally, small businesses are interested in incorporating time-saving practices and finding ways to keep costs down as much as possible.
However, before you let AI tools run wild in your business practices, it’s essential to take the time to understand the potential benefits and risks of these technologies. The last thing you want is to find yourself in serious legal trouble over a seemingly minor error made by an AI tool. Whether you are just beginning the business formation process in Colorado or you need guidance on how to set your small business up for a successful future, it’s worth partnering with an experienced and knowledgeable small business attorney who can provide you with the customized guidance you need to make more informed decisions with greater confidence. Let’s take a look at some of the benefits and risks of AI use for small businesses so that you can protect yourself and your company from complications later on.
How AI Tools Can Support Small Businesses
First, let’s begin by identifying some of the advantages that generative AI tools can bring to small businesses that are hoping to conserve time and money. Introducing AI tools can improve efficiency in many ways, keeping costs down and handling time-consuming and repetitive tasks. Below are just a few ways that your small business may benefit from mindfully integrating AI tools into your current business practices.
Handling Repetitive, Time-Consuming Tasks
Many businesses involve repetitive tasks, such as scheduling regular meetings, communicating with employees or customers, and summarizing team meetings, to name just a few. With these low-stakes but important tasks, you can use AI technologies to generate follow-up emails, recap meetings, and reduce the effort that was previously needed in order to complete them. Many businesses find that using AI tools to generate reusable templates streamlines their operations and makes previously time-complicated tasks much more efficient.
Improving Customer Service
Another area where small businesses have found success using AI is customer service. Adding a friendly, responsive chatbot to your company’s website can encourage site visitors to stay on your page for longer and locate the information they need with greater ease. You can also use AI tools to generate effective requests for client reviews, increasing the likelihood that your customers will write favorable comments and boost your overall online ratings.
The Risks of Using AI in Business
As with any business-related decisions, it’s essential that you carefully consider the impact of any new technology or practice before you dive in. AI is no different—there are a few ethical and legal risks of using AI in business that need to be reviewed before you move forward. Here are some of the possible limitations and risks associated with using generative AI tools in your business practices.
Intellectual Property Concerns
When generative AI tools create content for a user, these technologies are trained to quickly scan a dizzying volume of online content and piece together a coherent response. Unfortunately, some of the sources that these tools use may be protected under copyright law, and a business can unwittingly find itself embroiled in a copyright infringement case as a result of assuming that the AI-generated content was purely “original.” Even if you use AI to generate content, be sure to check whether any images, quotations, or pieces of the generated content infringe on existing copyrights, trademarks, or patents.
Customer Privacy Laws
There are genuine security risks associated with using AI tools to handle sensitive data. AI systems are able to scan and evaluate vast amounts of data, some of which may contain personal and professional information that customers trust your business to keep confidential and secure. It’s best to consult with a business lawyer or security professional to share your concerns about maintaining privacy and keeping your files and data secure.
Ethical Issues
In addition to potential legal issues arising from using AI in business, there are some ethical concerns to address as well. For instance, it’s important to assess any AI-generated content to ensure that it aligns with your business’ values and principles. The public is also interested in knowing whether a business uses AI, and if so, how it thinks about and uses these tools responsibly. Your small business may want to include a statement on your website that discloses your use of AI and your commitment to ensuring client satisfaction and protecting sensitive information as much as possible.
Can I Use AI For Business Formation?
Technically speaking, anyone can use generative AI tools to fill out business formation documents to get their company off the ground. However, as helpful as these tools may seem, nothing comes close to the security you get from partnering with an experienced and caring Colorado business formation attorney to help you achieve your goals. As you approach the business formation process, you want to trust that the decisions you make are setting you and your business up for a secure and successful future. The last thing you want is to find yourself struggling with preventable legal issues or disputes that arose because you wanted to move through the process as quickly as possible. By taking the time and care to give your business a stable foundation, you can approach the future with greater confidence and optimism.
As you start to transform your business plan into a reality, it’s worth discussing your needs and goals with a dedicated and experienced Colorado small business attorney. Give Judex Law LLC a call today at (303) 523-4022 to get started with a trusted and friendly business lawyer who’s ready to set you and your business up for a secure and successful future.