Monthly "AI Readiness Toolkit": Overlooked Factors for Choosing the Right AI Tool - With Template

When it comes to choosing AI tools for my small business, I've learned the hard way that there's a lot more to it than just looking at the price tag or how easy it is to use. Don't get me wrong, those factors are important, but there are some other unique considerations that can make a huge difference in how well the AI actually works for our company.

As part of my monthly "AI Readiness Toolkit" where I share frameworks, checklists, and templates to help other small business owners build their AI strategy and tech stack, I'm going to dive into some of those often-overlooked factors today. This came out of few recent engagements, where I worked with a group of SMB leaders who have faced challenges implementing AI into their operation.

For example, one time we implemented an AI-powered inventory management system in our boutique clothing store without really thinking about the explainability and transparency side of things. The system was great at predicting fashion trends and optimizing our stock levels, but when staff had questions about why it was making certain recommendations, we were kind of in the dark. That really undercut our trust in the AI and made it harder for us to feel comfortable fully handing over those decisions. The explainability factor would have gone a long way in helping us understand and buy into the AI's suggestions.

Nowadays, I always make sure to prioritize things like explainability and ethical considerations when evaluating AI tools. It's just not worth the headaches down the line if the AI is a total black box or raises concerns about bias or privacy. Investing a bit more time upfront to understand how the algorithms work and how the tool aligns with our values has saved us a lot of trouble.