Expected Uptick in AI Adoption Among Australian Small to Medium-Sized Enterprises
In a revealing survey commissioned by Small Business Loans Australia, it has been found that the adoption of Artificial Intelligence (AI) in Australian businesses is on the rise. Alon Rajic, Founder and Managing Director of Small Business Loans Australia, highlighted this trend, stating that more and more businesses are recognising the value of AI in managing laborious tasks.
The survey questioned 205 directors and decision-makers across micro (1-10 employees), small (11-50 employees), and medium-sized businesses (51-200 employees). The findings suggest that 25% of Aussie businesses have already adopted AI tools, with this number expected to grow significantly over the next two years.
According to the survey, 60% of all Australian businesses are using or planning to integrate AI into their operations over the next two years. This rapid-fire rise in AI usage is evident across all states, with West Australian businesses leading in current AI integration (40%), followed closely by NSW SMEs with the highest percentage (67%) of businesses using or planning to incorporate AI by 2026.
The survey also revealed that AI productivity tools are favoured among SMEs, with 23% using it or preparing to integrate it into day-to-day operations. AI-powered reporting and chat boxes with email replies are the most embraced AI tools among SMEs. Interestingly, NSW and WA businesses equally favour AI chat boxes and email replies for customers (33% each), while South Australian businesses lead in shirking customer relationship management bots (6%).
When it comes to AI-powered customer or data analysis tools, NSW businesses lead the pack (36%), followed by Queensland businesses with 37% planning to bring AI into their operations over the next two years. However, Victorian businesses use copy generating and editing AI tools the least (6%).
Alon Rajic also mentioned the rapid rise of AI usage in Australia, despite ChatGPT launching in 2022. He expects more micro businesses to embrace the AI trend as more knowledge about its cost and time-saving benefits emerges. He also predicts that smaller SMEs will follow the trend of medium-sized businesses, which expect to harness AI by 2026 (90%).
However, there is no specific information available on which Australian entrepreneurs or executives do not use or do not plan to integrate AI technologies in their businesses by 2026.
The survey further reveals that more than a quarter (27%) of all SMEs use or plan to use AI-powered customer or data analysis tools. Larger businesses are more likely to use AI for creative work, with 20% of medium-sized businesses admitting to using or planning to use AI copy generators and editors and image generation.
In conclusion, the survey results indicate a growing trend of AI adoption in Australian businesses. With the benefits of AI becoming more apparent, it is expected that this trend will continue to grow in the coming years.
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