News Summary

Netstock, an inventory management software company founded in 2009, has introduced a generative AI-powered tool called the ‘Opportunity Engine’ to assist small businesses in optimizing their inventory processes. This tool integrates with existing customer dashboards to provide real-time recommendations by analyzing data from Enterprise Resource Planning software. The tool has already delivered over 1 million recommendations, with 75% of customers receiving suggestions valued at $50,000 or more. Bargreen Ellingson, a family-run restaurant supply company, has experienced improved decision-making and empowerment among less-experienced staff through the use of this tool. Netstock co-founder Barry Kukkuk highlights the importance of customer outcomes over mere engagement, emphasizing careful implementation to avoid inaccuracies. Despite initial hesitations, the tool’s success demonstrates a promising future for AI in small business operations, although concerns about potential impacts on employment remain.