Generative AI and SMEs: The future is now in the UK

Generative AI and SMEs: The future is now in the UK
Jonathan Taylor
November 18, 2023
5 min read

Amidst the digital upheavals of the 21st century, with a staggering 64% of SMEs confirming technology as a pivotal growth driver, a hushed revolution is emerging: Generative Artificial Intelligence (GenAI). This game-changer, offering the promise of limitless innovation, is rapidly reshaping business frameworks, especially for the forward-thinking UK SMEs.

Generative AI and SMEs
AI for SME's

GenAI unravelled
At its essence, GenAI equips computers with unmatched human creativity, enabling them to produce content, suggest novel solutions, and even generate art or music. Notable tools such as Chat GPT and Google’s PaLM2 serve as exemplary GenAI prodigies. They’re adept at mimicking human-like text, facilitating data analytics, or even initiating compelling customer engagements.

On the flip side, proprietary models like Claude offer potency but can sometimes carry inherent security risks compared to their open-source brethren.

The promise of Autonomous Agents
As we delve deeper, Autonomous Agents emerge as the crown jewels of GenAI. Represented by state-of-the-art developments like BabyAGI, these agents no longer merely react. They strategise, predict, and adapt to changing scenarios. In the sphere of customer experience, innovations like CX Hero, set to launch this October, symbolise the future.

It’s not just another tool, but a revolution in client interactions, blending powerful language models with interactive chat interfaces, heralding an era of agile, efficient, and hyper-personalised customer service.

The open-source advantage
Herein lies the power of open-source Large Language Models (LLMs) like LLAMA2 by Meta. Boasting an impressive 70B parameters, its training regimen encompassing 2 trillion tokens lends it unparalleled contextual prowess.

Moreover, benchmarks affirm LLAMA2’s supremacy over other models in realms like reasoning, coding proficiency, and knowledge drills. With Llama Chat and Code Llama in its arsenal, businesses have a reliable GenAI ally for diverse applications.

Why open-source?
Beyond the allure of unique capabilities of proprietary models, they often come bundled with constraints and vulnerabilities. Choosing open-source models like LLAMA2 offers heightened transparency, agility, and security.

Self-hosting these models places data control squarely in the hands of businesses, a key consideration for 57% of SMEs concerned about data privacy.

Looking forward
With recent surveys indicating that 45% of SMEs are enthusiastic about adopting AI tools within the next three years, and a further 35% believing that autonomous agents will become business staples, the GenAI revolution is more pertinent than ever.

In conclusion
For UK SMEs teetering at the edge of the GenAI evolution, the horizon is luminous. Embracing GenAI, especially with the right AI partners, will be an uplifting and eye watering journey into the future!

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Jonathan Taylor
November 18, 2023