AI and ML have ceased to be distant dreams of the future, becoming accessible tools that can revolutionize the way startups and small businesses operate. Photo via Getty Images

In today's fast-paced and technologically driven world, artificial intelligence and machine learning have emerged as transformative technologies that hold immense potential for startups and small businesses. While AI was once perceived as the domain of large corporations, it has become increasingly accessible, enabling startups and small businesses to leverage its capabilities to drive growth, enhance efficiency, and gain a competitive edge.

To start, AI is computer software that mimics the ways humans think in order to perform complex tasks, such as analyzing. ML is a subset of AI that uses algorithms trained on data to produce models that can perform complex tasks. The terms are often interchangeable.

Let’s explore how startups and small businesses can tap into the power of AI and ML right now to make a tangible impact on their business operations.

1. Streamlining Operations with Intelligent Automation

One of the primary advantages of AI and ML is their ability to automate repetitive and time-consuming tasks. Startups and small businesses can employ AI-powered chatbots to handle customer inquiries, freeing up valuable human resources and improving response times. Using chatbots in the past has been associated with a negative customer experience but is now more personal due to natural language processing (NLP) and offers the quick, convenient experience customers are looking for. ML algorithms can also automate data entry, data analysis, and report generation, reducing errors and boosting productivity. If you’re a business with regular customer interaction, you can implement a chatbot service. There are many chatbot service providers to explore with different price points.

2. Personalized Customer Experiences

AI and ML algorithms excel at processing vast amounts of data and extracting meaningful insights. By leveraging customer data, startups and small businesses can employ AI-driven recommendation systems to deliver personalized product recommendations, tailored marketing campaigns, and customized user experiences. This level of personalization enhances customer satisfaction, engagement, and ultimately, loyalty. For businesses with large amounts of data, you can implement a machine learning model into a basic application such as Excel. Just like chatbot service providers, there are many ML applications to choose from.

3. Enhanced Decision-Making with Predictive Analytics

Startups and small businesses often face the challenge of making informed decisions amidst uncertainty. AI and ML models can analyze historical data, identify patterns, and generate accurate predictions for various business aspects, such as demand forecasting, sales projections, and inventory management. Armed with these insights, business owners can make data-driven decisions that optimize their operations, reduce costs, and maximize profitability. Similar to creating a personalized customer experience, businesses can use ML to sift through large amounts of data, providing insights into trends not just with text, but also intention.

4. Improving Marketing and Sales Strategies

AI and ML have revolutionized marketing and sales strategies, offering startups and small businesses the ability to target the right audience with precision. Natural language processing (NLP) enables sentiment analysis, allowing businesses to gauge customer opinions and adapt their strategies accordingly. AI-powered tools can also automate lead generation, lead scoring, and customer segmentation, enabling businesses to focus their efforts on high-potential leads and optimize conversion rates. Many common CRM platforms incorporate AI with price points for small businesses.

5. Enhanced Cybersecurity and Fraud Detection

Startups and small businesses are not immune to cyber threats and fraudulent activities. AI and ML can fortify their security measures by analyzing network traffic patterns, detecting anomalies, and identifying potential threats. ML algorithms can detect fraudulent transactions in real-time, safeguarding businesses from financial losses. By deploying AI-driven cybersecurity measures, startups and small businesses can protect their data and ensure the trust of their customers.

6. Efficient Supply Chain Management

For startups and small businesses that rely on efficient supply chain management, AI and ML offer significant benefits. These technologies can optimize inventory levels, anticipate supply chain disruptions, and streamline logistics. By analyzing historical data and real-time information, AI algorithms can identify optimal delivery routes, reduce transportation costs, and minimize delays. This level of efficiency contributes to better customer service and higher customer satisfaction.

AI and ML have ceased to be distant dreams of the future, becoming accessible tools that can revolutionize the way startups and small businesses operate. It is crucial to recognize that successful implementation of these technologies requires careful planning, data quality, and ongoing monitoring. Startups and small businesses that embrace AI and ML now will position themselves as industry leaders, driving growth, and securing a competitive advantage in the dynamic business landscape of today and tomorrow.

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Terence Low is the founder and CEO of Codistas IT Services.

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Houston biomanufacturing accelerator adds pilot plant to support scale-ups

new digs

Houston accelerator BioWell announced this month that it has taken over operations of Texas BioTechnology’s pilot plant in Richmond, Texas.

The 33,000-square-foot facility is one of the largest of its kind in the U.S. and features molecular biology labs, advanced automation, fermentation equipment and 16 dedicated benches for early-stage industrial biomanufacturing companies, according to a release from the company. It will allow BioWell to offer on-site education, workforce development, and lab training for students and workers.

BioWell and its founding company, First Bight Ventures, report that the facility should help address the industry's "scale-up bottleneck due to limited pilot- and demonstration-scale infrastructure" in the U.S.

"As a Houston-based accelerator dedicated exclusively to early-stage biomanufacturing startups, partnering with this facility was a natural and highly strategic decision for us. The site is fully operational and offers a strong platform to support biomanufacturing companies, industry leaders, and research institutions, providing critical expertise and infrastructure across a broad range of biotechnology production processes,” Veronica Breckenridge, founder of First Bight Ventures and BioWell, said in a news release.

First Bight Ventures shares that the partnership with the facility will also allow it to better support its portfolio companies and make them more attractive to future investors.

BioWell will host an open house and tours of the fermentation and lab spaces and an overview of current bioindustrial projects Wednesday, May 28, at 10:30 a.m. and 2 p.m. RSVPs are required.

BioWell was originally funded by a $700,000 U.S. Economic Development Administration’s Build to Scale grant and launched as a virtual accelerator for bioindustrial startups. Listen to an interview with Carlos Estrada, head of venture acceleration at BioWell, here.

Ultra-fast EV charging bays coming to Waffle House locations in Texas and beyond

power breakfast

Scattered, smothered and ... charged?

Starting next year, EV drivers can connect to ultra-fast charging stations at select Waffle House locations throughout Texas, courtesy of bp pulse.

The EV arm of British energy giant bp announced a strategic partnership with the all-day breakfast chain this week. The company aims to deploy a network of 400kW DC fast chargers and a mix of CCS and NACS connectors at Waffle House locations in Texas, Georgia, Florida, and other restaurants in the South.

Each Waffle House site will feature six ultra-fast EV charging bays, allowing drivers to "(enjoy) Waffle House’s 24/7 amenities," the announcement reads.

“Adding an iconic landmark like Waffle House to our growing portfolio of EV charging sites is such an exciting opportunity. As an integrated energy company, bp is committed to providing efficient solutions like ultra-fast charging to support our customers’ mobility needs," Sujay Sharma, CEO of bp pulse U.S., said in a news release. "We’re building a robust network of ultra-fast chargers across the country, and this is another example of third-party collaborations enabling access to charging co-located with convenient amenities for EV drivers.”

The news comes as bp pulse continues to grow its charging network in Texas.

The company debuted its new high-speed electric vehicle charging site, known as the Gigahub, at the bp America headquarters in Houston last year. In partnership with Hertz Electrifies Houston, it also previously announced plans to install a new EV fast-charging hub at Hobby Airport. In a recent partnership with Simon Malls, bp also shared plans to install EV charging Gigahubs at The Galleria and Katy Mills Mall.

bp has previously reported that it plans to invest $1 billion in EV charging infrastructure by 2030, with $500 million invested by the end of 2025.

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A version of this article originally appeared on EnergyCapitalHTX.com.

Texas leaders position state to become next global hub for brain health

event recap

Brain Capital: The New Competitive Edge in a Shifting Economy, a two-day meeting held at the TMC3 Collaborative Building on May 21-22, brought together global business and policy leaders to advance brain health initiatives. The event concluded with the announcement of Texas-focused strategies that will be presented at the G7 Summit in Calgary this June, aiming to position the state as a leading hub for brain health research.

According to an analysis by the McKinsey Health Institute, investing in brain health interventions has the potential to generate a $260 billion boost to Texas’ GDP. Brain health conditions are responsible for more than $1 trillion in lost productivity globally, and the costs are expected to increase to nearly $16 trillion by 2030, according to organizers of the event.

The Texas Legislature recently passed legislation to establish the Dementia Prevention Research Institute of Texas (DPRIT), which includes a $3 billion investment over 10 years. Leaders at the Brain Capital event announced the launch of an advocacy campaign to foster support for DPRIT, which will appear as a November 2025 ballot measure.

“Our work to deliver better brain health to Texas and the world is only just beginning,” Dr. Jochen Reiser, president of The University of Texas Medical Branch (UTMB) and CEO of the UTMB Health System, said in a news release. “Investing in brain capital means protecting our cognitive health, boosting economic growth and securing a future-ready workforce – goals that we believe Texans will rally behind.”

Additionally, the Center for Houston’s Future also announced its goal to make the brain economy a key part of its new plan for the Houston region, called Vision 2050. The Center for Houston’s Future’s goal is to position Houston to become the global leader in the brain economy space, which will serve as a blueprint for other cities

“Houston has a clear track record leading the transition of industry sectors,” David Gow, CEO of the Center for Houston’s Future, said in a news release. “By launching a focused Brain Economy transition plan, Houston can integrate neuroscience, prevention, workforce resilience and cognitive innovation across sectors – preparing businesses and communities for an AI-driven future. Houston has the talent, infrastructure and vision to lead the nation in the next great economic transformation.”

Gow is the founder and chairman of Gow Media, InnovationMap's parent company.

Speakers at the event included executives from Shell Oil Co., scientists from Johns Hopkins Bloomberg School of Public Health, professors from Rice University, representatives from D.C.-based UsAgainstAlzheimer’s, and others. Learn more here.