{"id":453,"date":"2024-07-23T09:00:10","date_gmt":"2024-07-23T01:00:10","guid":{"rendered":"http:\/\/www.thehoneycombers.com\/calendar\/2012\/12\/04\/inside_out_exhibition\/"},"modified":"2024-07-23T17:11:52","modified_gmt":"2024-07-23T09:11:52","slug":"artificial-intelligence-in-business","status":"publish","type":"post","link":"https:\/\/thehoneycombers.com\/singapore\/artificial-intelligence-in-business\/","title":{"rendered":"Artificial intelligence in business: Is it a double-edged sword? Entrepreneurs share how they leverage AI at work"},"content":{"rendered":"

There\u2019s no doubt that artificial intelligence<\/a> (AI) is shaking up the world – and that includes bringing new opportunities (and challenges) to businesses in Singapore and beyond. With more entrepreneurs using AI to boost productivity and efficiency, customise experiences, and generate ideas, work can become more seamless and streamlined. But balance is key, because complications can arise in the form of inaccuracies, misuse, and ethical concerns over data privacy and safety. So, is AI a friend or foe in business? Business owners tell us how AI has changed the game for them.<\/p>\n

Entrepreneurs share how they use artificial intelligence in business<\/h2>\n

1. Inspiring ideas and automating tasks with AI<\/h3>\n
\"artificial
Photography: For The Love of Socials<\/figcaption><\/figure>\n

AI tools are pivotal in refining our social media strategies at For The Love of Socials. They enhance our idea generation and automate routine tasks, freeing us to delve deeper into the creative aspects of audience engagement. However, the challenge remains to ensure these tools enhance rather than replace the human creativity and empathy that connect with our audience. It’s vital to maintain the human-centred nature of our clients\u2019 brands; relying too heavily on AI can compromise brand trust and authenticity.<\/p>\n

As we look to the future, we anticipate AI will offer more advanced predictive analytics, enabling us to anticipate trends and user behaviours more effectively. Successfully integrating these advancements while maintaining ethical standards will be key to our continued innovation in the digital landscape.<\/p>\n

– Adelphia Lim, 30, Founder of For The Love of Socials<\/a><\/em><\/p>\n

2. Customising scents with AI<\/h3>\n
\"businesses
Photography: Temple Candles<\/figcaption><\/figure>\n

At Temple Candles, we incorporate the use of AI together with our fragrance partner, Firmenich, to create custom home fragrances for our candles, diffusers, and room sprays. Firmenich\u2019s cutting-edge EmotiOn program uses AI to develop scents that are scientifically proven to positively affect emotions, making homes feel more inviting and relaxing.<\/p>\n

Based on 25 years of research and modern science, these fragrances are designed to improve mood and well-being. The main opportunity is to create personalised scents that people love, while the challenge is keeping up with changing tastes. In the future, AI will help us make even more effective and emotionally engaging fragrances.<\/p>\n

– Kendall Hamill, 52, Founder and creative director of Temple Candles<\/a><\/em><\/p>\n

3. Balancing AI use with human smarts<\/h3>\n
\"artificial
Photography: Sophie Leung<\/figcaption><\/figure>\n

The world of AI has opened up so many opportunities for us to become more efficient. In my business, AI has helped me in video editing and operations efficiency. I believe that artificial intelligence is neither a friend nor a foe. It depends on how much we use and rely on it.<\/p>\n

In my field of mental well-being, technology has been a point of discussion. Even though it has created a more digitally connected world, it has also increased the likelihood of loneliness as we are driven for face-to-face connection. However, we can find a balance and create strategies to have more human connections and also leverage AI. AI is here to stay and it can be our partner in enhancing our experiences to create new innovations across industries, from healthcare to finance to retail.<\/p>\n

– Sophie Leung<\/a>, 37, Somatic trauma informed coach<\/em><\/p>\n

4. AI in patient care and treatments<\/h3>\n
\"artificial
Photography: DP Dental<\/figcaption><\/figure>\n

At DP Dental, we harness the power of AI to elevate patient care. For example, AI-driven dental monitoring in aligner treatments allows us to track progress in real time, ensuring optimal results with fewer clinic visits required. This technology brings exciting opportunities: precise treatments, personalised care, and greater efficiency. However, challenges like data privacy and keeping up with rapid tech advancements remain.<\/p>\n

Looking ahead, AI promises to revolutionise dental care even further, enhancing diagnostics and treatment planning to make our services more effective and accessible for everyone. The future of dental care is bright with AI!<\/p>\n

– Louisa Lee, 49, Managing director at DP Dental<\/a><\/em><\/p>\n

5. Drawing on AI for new opportunities<\/h3>\n
\"ai
Photography: Puja Surtani<\/figcaption><\/figure>\n

AI is simply technology and the way we choose to interact with it is up to us. In the perfume industry, AI being used in fragrance development is an area I am less enthusiastic about. I appreciate the artistry and creativity it requires, but it would be a shame to see a plethora of common \u201cme too\u201d scents lacking genuine creativity being developed based on commercial decisions.<\/p>\n

However, two opportunities it presents are e-commerce recommendations, which we are looking to implement on our web store launching in August; and tweaking formulas to replicate scents using more sustainable ingredients.<\/p>\n

– Puja Surtani, 43, Director at Kay Ess Enterprises<\/a><\/em><\/p>\n

6. Working smart with AI<\/h3>\n
\"artificial
Photography: Bone and Grey Bridal<\/figcaption><\/figure>\n

AI is bigger than we think and it\u2019s here to stay. All small business owners should master it to stay atop industry trends and work smarter. At Bone and Grey Bridal, having been a solo-preneur for a long time, AI has helped me tremendously to get marketing content done faster. From blog posts to product descriptions to generating product images for future collections, it helps me to work efficiently and cost-effectively so my time is spent on things that will take more brain power.<\/p>\n

Now more than ever, AI has made things a lot easier to start your own company without needing much of a budget. The biggest challenge is mastering it to work to your advantage, and that takes practice and a bit of training. But it\u2019s definitely worth it!<\/p>\n

– Joy Q. Wang, 31, Founder and creative director of Bone and Grey Bridal<\/a><\/em><\/p>\n

7. Using AI to support traditional education methods<\/h3>\n
\"businesses
Photography: Spacing SG<\/figcaption><\/figure>\n

At the recent InnovateEDU Summit 2024, I discussed how AI is transforming education. Technology makes education more accessible and provides educators and students with abundant resources to enhance learning. However, adults must balance technology use, ensuring it serves as a tool to support, not replace, traditional learning methods.<\/p>\n

– Eileen Tan Yi Ling, 35, Founder and educator at Spacing SG<\/a><\/em><\/p>\n

8. Increasing productivity with AI<\/h3>\n
\"ai
Photography: Opilot<\/figcaption><\/figure>\n

Artificial intelligence in entrepreneurship is a friend that could potentially backstab you if you\u2019re not careful. On one hand, it offers opportunities for innovation, efficiency and productivity. On the other hand, sharing confidential data with AI tools puts you at risk. There\u2019s increased misuse of company and personal information with employees using AI secretly if it\u2019s banned, with cybercriminals having easier access to that data due to these AI tools generally having weaker cybersecurity. We see an increasing need for data privacy and protection, as the adoption of AI continues to increase globally, to safeguard its users.<\/p>\n

– Angelica Handover, 30, Co-founder of Opilot<\/a><\/em><\/p>\n

So, what are your thoughts on AI in business?<\/p>\n","protected":false},"excerpt":{"rendered":"

There\u2019s no doubt that artificial intelligence (AI) is shaking up the world – and that includes bringing new opportunities (and challenges) to businesses in Singapore and beyond. With more entrepreneurs using AI to boost productivity and efficiency, customise experiences, and generate ideas, work can become more seamless and streamlined. But balance is key, because complications […]<\/p>\n","protected":false},"author":101165,"featured_media":298529,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[145487,137317],"tags":[129513],"acf":[],"yoast_head":"\nArtificial intelligence in business: Entrepreneurs tell all | Honeycombers Singapore<\/title>\n<meta name=\"description\" content=\"Entrepreneurs in Singapore share how they use AI in business for fields like social media, education and more.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thehoneycombers.com\/singapore\/artificial-intelligence-in-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Artificial intelligence in business: Is it a double-edged sword? 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