Artificial intelligence has been used by big businesses for years, but the buzz over generative tools like ChatGPT that are available to everyone has drawn the attention of small businesses. And nearly all those utilizing the technology are seeing a boost, according to fresh data.
Survey results released Wednesday by Constant Contact found 91% of small business owners using AI say it has made their companies more successful, and more than a quarter (28%) of those respondents said they expect it to save them at least $5,000 over the next year.
Small business leaders using AI overwhelmingly agreed automating tasks using the tools has helped them cut costs and improve efficiency, Constant Contact reported. Sixty percent of small businesses that use AI say it has saved them time, with more than a third estimating it has saved them more than 40 minutes per week.
Constant Contact CEO Frank Vella told FOX Business the findings show small businesses "are focused on achieving their intended outcomes with tools that make it easy and intuitive for them to achieve their goals."
WHAT IS ARTIFICIAL INTELLIGENCE (AI)?
"We discovered that their level of excitement is growing, and those who are already leveraging these technologies are seeing impactful results at a business level," he said.
Twenty-six percent of small businesses surveyed said they are using AI. Another 44% said they were not using the tools for business but would like to start, and 16% were unsure. Only 14% of those not using the tools said they had no interest in giving them a try.
Of those not using the technology, 74% of decision-makers surveyed said they were interested in using AI or automation in their businesses, and 55% reported their interest grew in the last six months.
"Small businesses and nonprofit organizations are using tools that leverage AI for better outcomes — to enhance their creativity, get closer to their target audiences and drive more sales volume," Vella said. "As their marketing sophistication grows, we also see them look to incorporate AI and automations into more areas of their marketing."
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