Most small businesses are already using artificial intelligence in some form and expect it to deliver meaningful productivity gains and lower labor costs, according to a new survey by Tri Counties Bank in Chico, California.
Most small business owners (83%) believe that the effects of AI on their businesses are likely to be favorable, regardless of how they are currently using the technology, the survey found. Nearly three in four respondents (73%) said their businesses were actively using AI, with another 14% planning to start using it.
The main objectives among small businesses using or open to using AI would be to increase productivity (53%); help produce reports, papers or manuals (49%); automate routine tasks (47%); improve accuracy (47%); and increase profitability and overall earnings (44%). Among those already using the technology, the top small business back-office functions supported by AI include marketing and creative content (53%), data entry (46%), and document management (44%).
Most small businesses anticipate staff reductions with AI, with the greatest impacts likely to be on both full-time and part-time staff. Twenty-two percent of respondents did not expect any staff reductions.
