Artificial Intelligence (AI) is, according to Google, the ability of machines to perform tasks that typically require human intelligence, such as learning, problem-solving and decision-making. It encompasses a broad range of technologies and approaches that use algorithms to solve complex tasks. It’s being utilised across a wide range of sectors and fields, from healthcare, where it’s being used to help diagnose diseases, to marketing.
Steve Banks FBII (pictured below) is the owner operator of The Woodman, a Stonegate leased business in Ruislip, Middlesex. He is using AI, specifically ChatGPT, in his day-to-day business operations, for financial forecasting and marketing, to menu development and event planning. Indeed, Steve says that ChatGPT has become a trusted business assistant, with his monthly £20 subscription, since upgrading from the free package to Plus, being “the best money I’ve spend for my business.”
GETTING STARTED
Steve says he began using AI out of curiosity. Like many others, he downloaded the free version to “give it a try”, initially using it for practical tasks, including dictating letters, handling staff communications, drafting disciplinary letters, and to clarify any sensitive staff issues.
But he quickly discovered how much more AI could offer, noticing that it didn’t just write what he asked, but added clarity, structure and sometimes a new angle that he hadn’t considered.
FINANCIAL PLANNING, FORECASTING AND INSIGHTS
Steve’s deeper dive into AI began when preparing for the new financial year. Faced with the higher costs that he knew would hit in April 2025, he required a solid forecast. “I wanted to know where we would be financially post the increases, and where we needed to be in order to generate a profit at the end of the financial year,” explains Steve, who in 2024 was a finalist in the BII Licensee of the Year Awards and a NITAs winner.
He began by uploading last year’s accounts, along with sales, staff costs, operating expenses along with other key figures. ChatGPT then asked some follow-up questions, prompting Steve to refine the data further. The result? A clear projection that showed he’d need a 4% increase in sales to maintain profitability — all produced in under 20 minutes.
“I just started ploughing in the figures. I would put things in and ask it for answers. It would also ask for more information, for instance, what the costs were for something, then I’d pump those in too. It ended up coming up with something like a business plan, which I could take as far as I wanted to,” says Steve.
Later, Steve created a custom Excel spreadsheet for cash flow, with headers for sales, card and cash payments, refunds and expenses ChatGPT generated real-time visibility on his finances, providing a running total of daily income and outgoings. Particularly useful, he explains, was getting it to calculate the VAT
obligations. ChatGPT calculated his estimated quarterly VAT liability, and even told him what he needed to set aside per day to stay on track.
“That kind of clarity is something many business owners struggle to get from an accountant,” says Steve.
MARKETING THAT WORKS
AI has also become Steve’s go-to marketing department. Whether he’s planning a pub quiz or promoting a themed event, ChatGPT helps him design and write a strategy in minutes. When creating a poster for a quiz night, Steve will describe what he wants, for example, a vintage-style design with details like ‘fish and chip van, 7pm start’. Within seconds, ChatGPT will generate engaging text and layout suggestions
And, it can be paired perfectly with Canva, to allow Steve to add visuals, before sharing it on social media.
INSIGHTS
Steve also uses ChatGPT for local market insights. For example, when there are road closures or a pub closes nearby, he will ask it to forecast the likely effect on footfall, as well any estimated sales gains or losses.
“You could ask, for instance, what the effect of HS2 will be to the local area, how it could impact sales and so on,” says Steve, explaining that it helps him to estimate potential outcomes, which he believes give him a competitive edge.
“I even asked it to predict what the pub company was likely to put my costs up by. The more you use it, the easier it gets — and it’s good because ChatGPT keeps your history.”
When planning for a 4% price increase, Steve explains that ChatGPT offered guidance on customer perceptions. It suggested maintaining entry-level options and adding premium products, along with pricing strategies like introductory offers — validating decisions Steve was already making.
TEAM COLLABORATION AND BRAINSTORMING
Integrating AI into team planning meetings can also produce useful results and rather than use a whiteboard, Steve and a few team members now sit down with ChatGPT to brainstorm for future events. Steve explains that he finds this useful, because it helps him outline what worked last time and what could be improved upon. ChatGPT can then be asked to set reminders in a shared diary for events as far ahead as 2026.
ADDITIONAL USES
From helping him identify suspicious sounding emails to sourcing local musicians (like saxophone players), Steve says you can have a lot of fun with it. One example is how it produced a poster of a long-time customer, known for his colourful shirts, a pork pie hat and for always having a pint of beer. The result? ChatGPT generated a design that looked just like him.
“It doesn’t matter what you’re struggling with, just stick it in ChatGPT and ask it to come up with answers and possibilities,” says Steve. “It’s like having another brain that instantly gives answers. The negatives are that you can become a bit lazy. And if you’re doing anything financial with it, remember it’s only a guide — it’s not exact and it won’t run your business for you, it’s a tool to help you.” He adds: “And most importantly, if you don’t pump in the right information, you’ll not get an accurate answer back. So, I’d suggest running anything financial through your accountant too, just to check it.”
STEVE’S ADVICE ON HOW TO GET STARTED:
Download the free ChatGPT app and have a play around with it. If you’re unsure, there are plenty of videos online to help you learn how to get the most out of it – you can even ask ChatGPT to give you ideas.
Be prepared to talk to it – you can type in a question or use the voice mode – and if you don’t like the answers or think it’s wrong, try rephrasing your question.
You can download, save, email or print out the information you want to keep.
