Artificial intelligence is often seen as an innovation embraced by big companies with deep pockets. But not only do small businesses have access to
A recent study from Deloitte and Stanford University found that 25% of small businesses are currently
"In many cases, small businesses are able to be more open to embracing new technology," says Joseph Cole, chief marketing director at Glider, a skill intelligence platform. "With enterprises, there's a little more fear, more processes, more bureaucracy. Often, they've got legacy programs in place. There are too many unknowns, but that's less so true with small- and medium-sized businesses."
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But the very same freedom and lack of rigidity that
Most business leaders are aware of this push-pull: 80% of all business and IT leaders agree that AI increases productivity and creates jobs, according to Narrative Science, a software company that analyzes business data. Eighty-four percent feel AI will
"A lot of the time a lot of time they're just so busy," Cole says. "They understand that AI can help them, but they have to keep running their business otherwise they're going to fall behind. It's too much to learn and they end up not knowing how and where to implement AI."
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The most painstaking processes small businesses spend their time on — administrative tasks, hiring, marketing — can be made seamless with AI. Cole said some of Glider's own clients, as an example, have been able to use AI for recruiting support, and stop paying to outsource professional recruiters
"What small businesses have to understand is that they have to identify how long things are taking now. What are those current inefficiencies? And can those inefficiencies be addressed through AI?" Cole says. "The answer, in most cases, would be a resounding yes."
In addition to saving time and boosting efficiency, the embrace of AI can
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"When you're responsive to a candidate — and AI can help facilitate that responsiveness — applicants are more likely to have a favorable opinion of your company," Cole says. "And that is important for small businesses because they're competing with these big companies that have always had more brand awareness. It's important for small businesses to get out in front of different employment circles and talent pools and do the same."
And while even the creators of AI are publicly calling for
"AI is getting smarter and smarter," Cole says. "The biggest thing you can do right now as a small business owner is really learn how to embrace AI and understand how to use AI because it's the people who master AI that are going to be the most successful."