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A significant shift is occurring as 69% of small businesses now utilize artificial intelligence, a rise from 56% in 2023. This trend, highlighted by a Goldman Sachs survey, showcases how AI is being leveraged to save time and reduce costs. Small business owners are discovering innovative applications of AI that enhance operational efficiency.
Asahi Pompey from Goldman Sachs emphasizes that AI primarily benefits small businesses by saving time and money. Examples include AI tools for coding, content creation, and application screening, which streamline various processes. Andy Downard, CEO of Thriftly, illustrates this with an AI-powered scanner that drastically reduces inventory tagging time, showcasing the tangible advantages of AI in everyday operations.
• 69% of small businesses are now using AI, up from 56% in 2023.
• AI tools are saving time and money for small business owners.
Artificial intelligence refers to computer systems that perform tasks typically requiring human intelligence, such as coding and content creation.
An AI-powered scanner is a device that uses artificial intelligence to quickly categorize and price inventory items.
Goldman Sachs provides support and resources for small businesses, promoting the use of AI to enhance efficiency.
Thriftly is a thrift store startup that utilizes AI technology to streamline inventory management and pricing.
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