According to a recent study by American Express, small businesses are increasingly focusing on marketing and customer service when considering the implementation of artificial intelligence (AI) technology. The study reveals that 41% of small businesses are contemplating the use of AI to aid in their business decision-making processes, with customer service and marketing emerging as the primary use cases for AI technology.
When it comes to potential AI use cases, small businesses are exploring a wide range of applications. For example, 39% of those considering AI intend to leverage tools that can help them save time. Additionally, 21% plan to utilize AI to enhance security measures, while 20% aim to improve the efficiency of their customer service operations.
Customer service (19%) and marketing (14%) rank as the top primary use cases for small businesses looking to leverage AI.
The size of the company plays a role in the adoption of AI, as larger small businesses (with 101-500 employees) exhibit a more enthusiastic approach to experimenting with AI tools. In fact, they are over four times more likely than the smallest businesses (10 employees and under) to embrace AI, with a percentage of 75% compared to 16%.
There is also a generation gap in the adoption of AI, with younger business owners and entrepreneurs showing greater inclination towards implementing AI tools in their organizations. Among Millennial and Gen Z small businesses, 56% expressed a prioritization of AI, irrespective of their company size, compared to 24% among older businesses.
In terms of overall confidence, larger businesses are more assured in making sound growth decisions. The study reported that 54% of small businesses feel confident in their decision-making, whereas only 29% of the smallest small businesses share the same level of confidence. This discrepancy can be attributed to the opportunities for experimentation that larger organizations often possess.
The growing interest in AI tools among businesses of all sizes underscores the recognition of their potential for growth and efficiency. Marketing and customer service are targeted areas where businesses believe AI can bring significant benefits.
As the American Express study indicates, larger organizations have more flexibility to explore and experiment with AI, while smaller businesses may exhibit lower levels of confidence due to the disruptive nature of this technology and the challenges they have faced in recent years.
The prominence of marketing and customer service as key areas of focus reflects the desire of small businesses to enhance their operations and deliver better experiences to their customers through the use of AI technology.
