While the race towards Artificial General Intelligence (AGI) and beyond will be expensive for many large tech companies, numerous business opportunities exist for Bangladeshi entrepreneurs to capitalise on AI. This area is no longer exclusive to big corporations; anyone with the knowledge to utilise AI can build small businesses that leverage AI. AI can be used to create customised software-as-a-service (SaaS) products, such as data analysis tools, chatbots, and customer onboarding platforms, tailored to specific industries. Following are some examples of its potential business cases.
Data is a crucial asset for any business, but many struggle to use its full potential. Custom AI-powered data analysis tools can help industries unlock valuable insights, identify trends, and make informed decisions.
In Bangladesh’s banking sector, AI can be used to develop tools that analyse transaction data and customer behaviour to detect fraud. Banks can predict customer needs by offering personalised products, such as loans or savings plans, based on spending patterns. AI-driven analytics can help small businesses track consumer purchasing trends, optimise inventory, and predict demand in the retail sector. These can be used in both distributors’ and retailers’ ends. Entrepreneurs can build SaaS products that allow these small businesses to make data-driven decisions.
Customer service is a key aspect of any service oriented business. But providing high-quality, round-the-clock service can be costly for micro and small businesses(MSMEs). This is where custom AI chatbots come into play that talk in Bangla too. These intelligent systems can handle routine inquiries, improving response times and freeing human agents to focus on more complex issues.
In industries like telecommunications, banking, or e-commerce, AI chatbots can assist customers by answering questions, processing basic transactions, and guiding users through common issues or help them choose the best products according to their needs. For instance, a chatbot in a local bank in Bangladesh could answer customer queries about account balances, recent transactions, or loan statuses. This not only improves the customer experience but also reduces the need for large customer service teams.
AI chatbots can help businesses scale rapidly by decreasing reliance on human agents. For e-commerce platforms, chatbots can engage customers during the purchase journey, recommend products, and resolve issues instantly. This seamless shopping experience leads to higher conversion rates.
Customer onboarding is another critical aspect of business success. Many businesses in sectors like banking, insurance, and SaaS rely on complex sign-up processes. Custom AI tools can automate and streamline this experience, ensuring customers are guided smoothly through the process. For financial institutions, AI can personalise the onboarding experience for new account holders. By analysing data such as location, spending habits, and financial goals, AI can recommend the most suitable products-whether it’s a savings account, loan, or investment option. This simplifies the decision-making process for customers and boosts satisfaction and retention for banks.
An educational platform could use AI to recommend courses based on a student’s preferences or goals. AI-driven SaaS products have vast potential across a wide range of industries. AI tools can create personalised learning experiences by offering tailored recommendations based on a student’s strengths and weaknesses for schools. In the logistics sector, AI can optimise routes, track inventory, and predict delays, enhancing efficiency For Bangladeshi health sector, AI can help entrepreneurs develop tools that analyse patient data, suggest treatment options, or even assist in diagnosis. Custom AI solutions can also streamline administrative tasks that will allow healthcare providers to focus on patient care.
AI can automate property valuations, predict market trends, and enhance customer interactions for real estate companies. Custom AI solutions can be built by entrepreneurs without having to use so much compute power or train fundamental models which will cost millions of dollars, if not billions. Whether it’s AI-driven data analysis, intelligent chatbots, or tailored customer onboarding tools, AI will be enabling young entrepreneurs to develop profitable businesses across various industries. In Bangladesh, sectors like banking, healthcare, education, and retail stand to benefit from customised AI tools that enhance efficiency, improve customer experiences, and drive growth. The key to success for entrepreneurs is identifying industry needs, harnessing the power of AI, and creating bespoke solutions.
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