It can help them compete with larger companies on content, insight, and technology.
February 01, 2024
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Generative AI has the potential to close content, insight, and technology gaps that large corporations typically have over their smaller counterparts. This shift presents a unique opportunity for SMEs, whose inherent agility gives them an edge in adopting and innovating with AI. This article shares some early examples of how new approaches to text and image generation, AI-generated video, customer insights, and more can help boost the competitiveness of SMEs willing to invest in generative AI tools. It’s not far-fetched to foresee a future marketplace where the depth of corporate resources is not the unequivocal determinant of success.
Dollar Shave Club’s audacious market entry is nothing short of iconic in the marketing world. The bold startup dared to challenge the formidable razor titan, Gillette, with a video that was filmed in just one day at a mere cost of $4,500. Their strategy, marked by a mix of cheeky irreverence and simple value proposition, quickly went viral and captured interest worldwide.
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Oguz A. Acar is a Chair in Marketing at King’s Business School, King’s College London.
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Andrés Gvirtz is an Assistant Professor of Marketing Technology & Innovation at King’s Business School, King’s College London and a Research Affiliate at King’s Institute for Artificial Intelligence, King’s College London. He has worked on AI and ML projects with Nokia Bell Labs and McKinsey & Company.
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