AI has arrived, and it’s becoming increasingly clear that artificial intelligence (AI) is not just a buzzword. The way it continues to enrich business finance, especially for small and medium business (SMB) finance, will change the industry.
Here are the top 3 ways we predict AI is set to revolutionize small business finance:
- AI-powered application assistants: making paperwork a breeze 🌬️
- Custom recommendation engines: a dedicated matchmaker 💘
- Financial management tools: looking into the future 🔮
1. AI-powered application assistants: making paperwork a breeze
First up, imagine having an AI assistant that loves the paperwork? We all know how daunting and time-consuming loan application paperwork can be. That’s where AI comes in.
AI-powered application assistants can guide small business owners through the labyrinth of loan applications—effortlessly. They can provide real-time support, clarify confusing financial jargon, and ensure that all the necessary details are polished and precise. Connect some of your existing bank accounts & bookkeeping records, and AI can help you skip a ton of duplicate manual data entry. AI can save business owners precious time and increase application accuracy to boost the chances of approval.
2. Custom recommendation engines: a dedicated matchmaker
Next, let’s talk about matchmaking. There are over 6,000 business lenders in North America. With so many options, how do business owners know which is the best for their business? Your dedicated AI-driven recommendation engine has entered the chat.
These clever AI powered systems analyze your business’s financial health, needs, and goals to match you with the most suitable lenders and loan types. Platforms like Levr.ai, also help you understand if lenders offer the type of loan you’re looking to leverage for growth.
This custom approach helps business owners avoid the one-size-fits-all trap and multiple bad blind dates conversations with lenders that won’t meet their business needs or unique circumstances.
3. Financial management tools: a private banker & accountant in your pocket
Another brilliant way AI can assist SMBs is through predictive analytics and financial forecasting. AI systems can sift through enormous amounts of historical data to identify trends and patterns that are unique to your business and compare it to external data.
What does this mean for a small business owner? Well, it’s like having a crystal ball that offers insights into future cash flows, potential financial risks, and opportunities.
With this foresight, businesses can make informed decisions, prepare for upcoming challenges, and seize opportunities before they’re obvious to their competitors. AI also can track upcoming payments, and optimize how your loans are structured to better plan how you’ll finance the next project.
Defining the Market
In essence, AI is not just transforming how businesses manage their finances; it’s revolutionizing it. By integrating AI tools, SMBs can navigate the financial landscape with greater ease and confidence so that they have more time to focus on what matters most, running their business.
Platforms like Levr.ai aren’t just jumping on the AI bandwagon; its driving the advancement of AI for business finance. Levr.ai harnesses the power of AI to provide an intelligent business loan platform that supports SMBs in managing and accessing debt more efficiently.
Through AI-driven application assistants ensuring loan applications are top-notch, recommendation engines to find the best funding matches, and utilizing predictive analytics to give a glimpse into the future, Levr.ai is all about empowering businesses to thrive.
The future of business finance looks not just brighter, but smarter too. So, whether you’re looking to expand or streamline business finances, or just get a better handle on the economic trajectory, it’s worth considering how AI can help be your trusted ally.
Welcome to the future of business finance, powered by AI and created by Levr.ai.
