Artificial intelligence (AI) and franchising are a natural combination. AI will most likely play a significant role in franchise growth, efficiency, advertising and promotion, data generation and collection, and profitability. But let’s step back to define AI, explore its potential franchise uses and look at some currently pending AI regulations that may impact franchising.

Let’s first define AI. There are different forms of AI, each with certain limitations that serve as differentiators on what AI can do. Enterprise AI is a machine learning application used for everyday business activities that can adapt, improve, and function autonomously, often by sorting, labeling, and making decisions based on input data. Generative AI is distinctive because it produces/creates new content, uses generally much vaster training data and advances in natural language processing to enable creative or other forms of expression. The net-net is that with generative AI you can plan out and do a lot of what you want to do in business by just having ordinary conversations. And for those in franchising, that is why, once you get comfortable with it, generative AI is going revolutionize the business of franchising.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]