Leaders Perception Magazine is currently running an interview series called – Navigating AI’s Impact On Business
In today’s rapidly evolving business landscape, entrepreneurs must stay ahead of the curve to remain competitive. One technology that is set to revolutionize the way businesses operate is artificial intelligence (AI). To gain insights into the potential impact of AI on businesses, we spoke with Ivana Katz, founder of Websites 4 Small Business. Ivana shared her background in the industry and a recent personal accomplishment that she is proud of. She also discussed the significant changes that AI will bring to the business landscape over the next 5-10 years and how entrepreneurs can prepare for these changes. Additionally, Ivana shared her thoughts on how AI will change the way businesses operate, particularly in terms of customer service and experience, and what strategies entrepreneurs can use to leverage this technology effectively. Finally, Ivana addressed the growing concern that AI may replace jobs currently performed by humans and provided examples of businesses that are currently using AI in innovative and impactful ways.
Interviewee Name: Ivana Katz
Company: Websites 4 Small Business
Can you tell us about your background and how you got started in your industry?
Ivana Katz : I have always been fascinated by technology and when the internet first started 20+ years ago, I learnt how to design a website for a business that I owned at the time. Eventually we sold the business, but my fascination with all things online remained. I knew many people found it difficult to wrap their head around this new technology, but I saw it as a great challenge and opportunity. So I attended a few courses and learnt how to design websites. The rest I learnt on the job, while running my own website design business.
Can you share a recent success or accomplishment that you’re proud of, either personally or for your company?
Ivana Katz : Considering I work in the virtual world, I have always been afraid of public speaking and avoided it at all costs. Then in 2017 I was invited to speak at a women’s business conference. The only problem was I was recovering from gruelling breast cancer treatments – I couldn’t stand up for more than 5 minutes, I lost 70% of my hair, I was suffering from chemo brain and could barely remember my name, but I decided it was a great opportunity for my business, so I agreed to do the presentation. I figured if cancer didn’t kill me, public speaking probably wouldn’t either. I spent weeks preparing for the presentation and then the day finally came … and I did it. I was so happy that I overcame my greatest fear at a time when I was at my weakest.
In your opinion, what are the most significant changes that AI will bring to the business landscape over the next 5-10 years, and how can entrepreneurs prepare for these changes?
Ivana Katz : I believe in the next 5-10 years, AI will bring significant changes to the business landscape. These changes will include tasks being automated, products and services being more personalized and more sophisticated customer service.
To prepare for these changes, entrepreneurs should learn about AI, invest in AI tools and technologies and be open to change, rather than resisting it.
For example, right now, business owners can easily start using tools such as ChatGPT or Jasper to help write content for their website or marketing emails. If they slowly embrace the technology, as it evolves, it won’t be so overwhelming for them. I believe we need to embrace AI, the way we have embraced the internet. The only thing is, I think the use of AI will unfold a lot faster.
How do you see AI changing the way businesses operate, particularly in terms of customer service and experience, and what strategies can entrepreneurs use to leverage this technology effectively?
Ivana Katz : With AI, businesses can automate customer service tasks, personalize products and services, and predict customer needs.
For example, a chatbot would be able to answer frequently asked questions, help customers reset their passwords, or assist with returns.
In terms of personalising products and services, an on online retailer can recommend products based on a customer’s past purchases or browsing behaviour. This makes customers feel valued and can increase their loyalty to the brand.
AI may be able to predict what a customer may want or need in the future. For example, a grocery store can use past buying data to predict what a customer may want to buy next and offer personalized recommendations.
There is growing concern that AI may replace jobs that are currently performed by humans. What are your thoughts on this, and how can businesses and entrepreneurs ensure that they are creating jobs that are complementary to, rather than competitive with, AI?
Ivana Katz : It is true that many people are concerned that AI may replace jobs that are currently done by humans, similar to how computers replaced certain jobs. For example, in the past, some people feared that computers would replace secretaries and typists.
And in fact, I am the perfect example of this – I worked as a secretary for many years, but when the internet came, I retrained and became a website designer.
And while it’s true that some jobs may be automated, AI will also create new jobs that require human skills. AI is like a new tool that we can use to make things easier, but it still needs humans to operate it.
It is important to remember AI is good at tasks that involve processing large amounts of data and making predictions based on that data. Humans are good at tasks that require creativity, empathy, and critical thinking.
To ensure that businesses are creating jobs that complement, rather than compete with AI, they can focus on hiring and training employees for jobs that require skills that AI can’t replicate. For example, a business can train its employees to do tasks that require creativity and emotional intelligence. Jobs such as a customer service representative who can provide personalized and empathetic support to customers.
Another example would be in the case of a content creator, AI can help create certain types of content, such as news articles and product descriptions, but humans are still needed to create original and engaging content that connects with people.
Here is a great video which explains how AI may impact different jobs – https://youtu.be/tTagNMmzgQo
What are some examples of businesses that are currently using AI in innovative and impactful ways, and how can entrepreneurs learn from these examples to drive growth and success in their own businesses?
Ivana Katz : Here are a few examples of businesses that have embraced AI technology
Amazon: Amazon uses AI to power its recommendation engine, which suggests products to customers based on their browsing and purchase history. This has helped Amazon to increase sales and improve the customer experience.
Tesla: Tesla uses AI to power its autonomous driving system, which allows cars to drive themselves. This has helped Tesla to stay at the forefront of the electric car industry and attract tech-savvy customers.
Spotify: Spotify uses AI to personalize its music recommendations to each user’s taste. This has helped Spotify to build a loyal user base and differentiate itself from competitors in the crowded music streaming market.
Entrepreneurs could use AI to personalize their marketing messages to individual customers, or automate certain aspects of their customer service or content creation.
Leaders Perception magaizne would like to thank Ivana Katz and Websites 4 Small Business for the time dedicated to completing this interview and sharing their valuable insights with our readers!
Subscribe to our newsletter to get a notification as soon as we launch new interview series.