Why AI matters

AI can handle repetitive tasks, allowing you to dedicate more time to strategic decision-making. Unlike traditional software, AI doesn’t need every rule hardcoded. It can usually learn and adapt, and you don’t need a developer to get started.

Key benefits of using AI include that AI will generally:

• Save time on admin tasks that previously soaked up hours.
• Help scale without hiring at the same pace.
• Reduce errors, typos or missed fields compared to manual entry.
• Help prioritise leads, track customer churn risks, and/or forecast inventory needs.
• Improve customer experience with smart 24-hour helpdesks.

Adopting AI can also keep you ahead of the competition.

Automate administrative tasks

Repetitive admin work can take up valuable time and resources. Scheduling meetings, responding to emails, and processing invoices can take up a large part of your day.

You can offload these repetitive tasks with intelligent tools such as:

• Appointment scheduling applications to reduce back-and-forth emails.
• Accounting software to streamline financial processes, automate invoices, track expenses, and reconcile transactions.
• Automated email prioritisation and scheduling to provide timely responses without overwhelming inbox management.

Automating certain tasks can help businesses increase productivity and free up time for higher-value work. Read more about using AI in bookkeeping from our business hub.

Data management and digitisation

Many businesses deal with large volumes of data, including contracts, receipts, and customer records. AI-driven Optical Character Recognition (OCR) software can:

• Convert paper documents into digital formats, which can make them easier to store, search, and update.
• Improve record-keeping accuracy.
• Lower the need for manual data entry, which can reduce errors and save time.

With AI-enhanced data management tools, you can access critical information faster.

Enhance customer service

AI-powered chatbots and virtual assistants provide instant responses to frequently asked questions, assist with order tracking and appointment scheduling, and reduce wait times, all contributing to improved customer satisfaction and engagement.

More advanced systems can analyse customer inquiries and provide personalised responses based on past interactions, improving engagement and strengthening customer relationships. Plus, virtual assistants can help with customer support by guiding users through troubleshooting steps, processing returns, or recommending products based on their browsing history.

Adopt industry tools

Every industry is likely to have a specific set of AI tools. Talk to your industry peers or contact your industry association to identify what AI tools businesses like yours are using.

For example:

• Hospitality businesses use online reservation management or QR code ordering software.
• AI can optimise livestock management.
• Automated inventory management allows retailers and e-commerce businesses to react swiftly to fluctuations in demand, to help ensure that popular products are in stock.
• Other intelligent tools can forecast demand and trigger reorder alerts.

April Sun Farms uses AI to manage and control its growing conditions to deliver top-quality products on time, using the least amount of energy and to reduce waste.

Automation risks

AI platforms might provide the information, but you still need to evaluate and take action on what you’re seeing. Some of the issues you will likely need to manage include:

• Over reliance on AI. Use AI to support, not replace human expertise.
• Ensuring AI tools meet Australian privacy standards and data protection laws. Look for tools that are GDPR and APP compliant.
• Employees wasting time or using AI tools incorrectly. It is important to provide training and support so that staff can use AI effectively.

You should seek external help and advice from AI experts if you’re unsure about how AI could impact your business.

Getting started

Bringing AI on board doesn’t have to be overwhelming. Here are some practical steps to get started:

• Audit daily operations to determine repetitive tasks that can be automated.
• Start with small steps. Choose a single process to automate.
• Use AI tools within existing software to draft newsletters, policies, or marketing emails. AI gets the first draft done fast, but you should review and amend as required.
• Use industry-specific AI tools for immediate relevancy.
• Use CRM software to schedule reminders, pre-fill emails, or auto-update deal progress.
• Adopt accounting software to pull invoice data into your systems, eliminating manual entry.

Next steps

As AI evolves, you’ll see tools develop that complete multi-step tasks like onboarding new clients or generating quotes without constant human input. Voice interfaces and virtual AI agents are also on the horizon, making automation even more seamless.

By experimenting now, build your capability and confidence, so you’re ready when these tools become the norm.

Important Information

The information contained in this article is believed to be reliable as at May 2025 and is intended to be of a general nature only.  It is not intended to be relied on as advice.  It has been prepared without taking into account any person’s objectives, financial situation, or needs.  Before acting on the information in this article, NAB recommends that you consider whether it is appropriate for your circumstances. NAB recommends that you seek independent legal, financial, taxation or other professional advice before acting on any information in this article.

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