Why only larger businesses expect to benefit from AI

Why only larger businesses expect to benefit from AI

Artificial intelligence (AI) is helping businesses streamline their operations. Tools like ChatGPT automate certain business processes, helping companies cut down on costs while making efficient use of their existing workforce. However, optimism for AI varies between large and small businesses; the former expects to benefit more from the technology than the latter does. 

Why is this so, and how can a business make the most of AI?

Big businesses expect a greater benefit from AI than smaller enterprises

A recent survey from YouGov revealed the stark difference in confidence that decision-makers in large and small businesses have regarding AI technologies. Larger businesses are rather optimistic; in fact, 63% of these organisations see AI as a force for good. 

The same is true for the 42% of medium businesses involved in the survey. However, these figures stand in contrast with small enterprises and micro businesses. Only 32% of the former believe they can benefit greatly from AI, while 20% of the latter think so. 

This disparity may have a lot to do with the fact that AI tools like ChatGPT can be used to replace human workers. This lets large businesses cut down on labour costs. Now, as certain business processes can be outsourced by large enterprises to small specialised businesses, it’s easy to see why only a small number of such companies are happy with the advent of AI.

5 ways businesses big and small benefit from AI 

That’s not to say that workforce reduction is the only benefit companies will be getting from AI tools. That may not be necessary, though, as benefits can still reap the following advantages even without letting AI take over some jobs:

  1. More efficient automation. Companies can use AI to automate routine and mundane business operations. By doing so, they reduce the workload of their human employees, allowing them to put their focus on complex tasks that require creativity and problem-solving skills.
  2. Improved customer support. Customer support teams will find great use in chatbots that incorporate AI language models. These bots can provide thorough answers to commonly asked questions, giving customer service representatives more time to work on more complex issues.
  3. Better sales and marketing. AI can craft personalised messaging for sales representatives and email marketers. This lets the company’s outreach efforts resonate well with its target audience, boosting its conversion rates.
  4. Faster data processing. Businesses these days will need to process vast amounts of data to remain competitive in their respective niches. AI can get it done fast and without the risk of human error.
  5. Streamlined operations. Overall, AI can streamline a business’s operations through automation and smart business solutions. It will boost the productivity of teams and reduce expenses even without cutting down on the staff headcount.

AI is certainly changing the way we do business, though still in its relative infancy. The way AI can simplify outreach and other business processes makes it a worthwhile investment for companies of all shapes and sizes. 

About Sam P

EnterpriseZone Staff Writer

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