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Artificial Intelligence is disrupting every aspect of both our personal and professional lives and transforming how we live and work. Not since the inception of the internet in early 1980s have we seen such a technological game change.
Almost all industries are being revolutionised by ever-evolving advances of AI and its capabilities. From tech and healthcare to education and media, nearly every industry is facing rapid changes.
Disadvantages of AI
There are of course fears and apprehension about the adaption and incorporation of AI work models. According to a report by CBS News, more than 27,000 jobs in the tech sector since 2023 have been lost as a result of AI.
Globally, Microsoft has recently cut 9,000 jobs in an effort to re-structure its focus on AI development. Other global companies such as Amazon, Indeed and IBM have also incurred layoffs as a result of the AI surge.
The increasing number of layoffs will make many wonder about the stability of their jobs long-term. Recent colleague graduates may also find themselves struggling to gain experience and early employment as a number of entry-level positions are being replaced by AI.
It's concerning, right?
How Can AI Help Franchises?
However, while there is undoubtedly more uncertainty around how the workforce will look in the next five years, this is also a unique opportunity for the franchise industry to capitalise on the capabilities of artificial intelligence.
Whether you’re interested in an on online franchise or tech-adjacent franchise or even non-traditional tech businesses such as a food franchises or health and beauty franchise, AI will be a game changer for how it can help businesses become more efficient and profitable by streamlining processes and automated time-consuming and costly tasks.
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Franchises by their very nature are robust and smart investments as they are less likely than independent businesses to fail and have existing brand recognition. This means that you will hit the ground running with a franchise investment and can harness AI to a much greater effect because of the existing successful structures in place already.
A Breakdown of How AI Can Benefit Franchises
From day-to-day tasks to the big decisions, here are a few ways in which artificial intelligence can boost franchise operations:
