TLDR: Small businesses are increasingly investing in artificial intelligence (AI) tools this year, with a focus on operations, communications, accounting and finance, and human resources and training. While social media tools, virtual meeting platforms, and cloud technologies remain essential, 46% of small business leaders are considering adding AI tools to their digital toolkits.
Small business owners are feeling cautiously optimistic about their prospects, according to a recent survey from JP Morgan Chase. However, the survey also reveals that investment in AI tools is set to increase.
Currently, generative AI and language processing software are dominating headlines, but the survey finds that 46% of midsize businesses that are using or considering adopting AI tools are specifically focused on using AI in operations and internal and external communications. Additionally, about half of these businesses are considering applying AI to accounting and finance functions as well as human resources and training.
As for small businesses, 46% of the surveyed leaders are considering adding AI tools to their digital toolkits. However, they continue to view social media tools, virtual meeting platforms, and cloud technologies as essential to their businesses.