Recent research by Citi has revealed that by 2030, tokenized assets could account for 10% of the global market turnover. This finding is significant for small and medium-sized businesses (SMBs) as it indicates a shifting landscape in finance driven by innovations in artificial intelligence (AI) and stablecoins. The study surveyed 537 financial organizations, including custodians and asset managers, to assess how upcoming technologies will reshape the financial ecosystem.
The growth of real-world assets (RWA) will primarily be propelled by bank-issued stablecoins and AI. Stablecoins enhance collateral management and facilitate the tokenization of funds. On the other hand, AI plays a critical role in automating back-office tasks, including settlement processes and data reconciliation. This development presents a unique opportunity for SMBs to harness automation to streamline operations and improve efficiency.
For SMB leaders, implementing automation powered by AI can seem daunting. However, breaking the process down into manageable steps can make it achievable. The first step is assessing existing workflows to identify areas where automation can add value, such as customer onboarding or invoicing. Once these areas are identified, SMBs can explore AI-powered tools like Zapier or Make, which allow for easy integration with existing software and systems.
For instance, Zapier connects various applications and automates repetitive tasks. A simple use case would be to automate data entry from customer forms on your website directly into your Customer Relationship Management (CRM) system. To implement this, an SMB can follow these steps:
1. Create an account on Zapier and connect your preferred CRM and the form application you use.
2. Set up a “Zap” that triggers when a new form is submitted.
3. Specify the action you want Zapier to take, such as adding the customer information to your CRM.
4. Test the Zap to ensure it works as intended and then activate it.
The ROI for SMBs adopting such technology can be substantial. Automating data entry tasks not only saves time but also minimizes errors, leading to better data accuracy. For example, if an SMB spends about 10 hours weekly on data entry at an average hourly rate of $20, automating this task could save $10,400 annually, allowing employees to focus on higher-value activities, such as customer engagement and strategy development.
Another avenue for automation is through AI tools that specialize in customer service. Incorporating a chatbot into your website can streamline responses to common customer queries, reducing the burden on human agents. For this, SMBs can use platforms like Make, which offers visual workflow automation to create and deploy chatbots without extensive coding knowledge.
1. Sign up for Make and access the visual builder.
2. Choose a template that suits your needs or start from scratch.
3. Specify the channels through which the chatbot will operate, like your website or social media.
4. Program common questions and expected answers, enabling the bot to handle routine inquiries without human intervention.
The implementation of chatbots can lead to improved customer satisfaction as queries are answered in real-time, enhancing overall service quality. This efficiency can translate into increased sales opportunities as customers receive timely responses.
However, while embracing automation and AI presents manifold opportunities, SMBs must also consider potential pitfalls. Data security is a prominent risk, as automating data processes might expose sensitive customer information. To mitigate this, SMBs should invest in data protection measures, including encryption and regular security audits, ensuring customer data remains secure amid the automation process.
Moreover, change management is essential when integrating these technologies into your operations. Training employees to adapt to new systems will ensure smooth transitions and greater efficiency. Moreover, soliciting feedback from your team can identify issues early and foster a culture of innovation.
As we consider the market landscape, the importance of adopting automation driven by technologies like stablecoins and AI becomes apparent. By integrating these tools systematically, SMBs can streamline operations, enhance customer experiences, and ultimately drive growth.
In conclusion, as the financial sector evolves with rapid advancements in technology, SMB leaders must embrace these changes strategically. Fostering a culture of innovation and examining how automation can enhance workflows will set the stage for long-term success.
FlowMind AI Insight: The convergence of stablecoins and AI offers SMBs a significant opportunity to optimize operations and enhance customer service. By methodically integrating these technologies, businesses can not only reduce costs but also position themselves competitively in the modern economy.
Original article: Read here
2025-09-02 12:19:00