Survey: 82% Of Entrepreneurs See AI Disrupting Their Business Over Next 5 Years, Do Your Homework Before Plunging In

Thanks to many small business owners now embracing artificial intelligence, aka AI, many maintain the buzzword technology could bring some turmoil.

In fact, 82% of entrepreneurs are convinced that AI will disrupt their business during the next five years. Yet, 84% of the companies currently applying AI plan to keep using it in the future.

Those were among the findings in a recent survey by ratings and review firm Clutch. Some 502 U.S. business leaders were questioned to get their take on AI, how they adopt it, and how they plan to blend the technology into their operations moving forward.

The analysis revealed that small businesses feel artificial intelligence will work best in responding to customers with chatbots, creating business presentations, and writing marketing collateral. They cite greater efficiency from AI as its top benefit. They expect AI to boost their need for outsourced services across departments, with engineering (83%), sales and customer experience (78%), and marketing (77%).

Still, AI is not viewed as perfect or error-free. Business leaders reported a lack of personalization and capabilities to identify artificial intelligence-generated content as among its biggest limitations.

That sentiment aligns with previous reports on the technology. Observers maintain that AI can perhaps erase human jobs, hamper learning and creativity, and bring data privacy and security concerns.

But Adrian Tammiga, co-founder of outdoor fire pit maker Iron Embers is bullish on AI. He told Clutch, “Tasks that used to take weeks and involve multiple team members can now be completed in a single morning. I also gain knowledge and expertise in various fields.”

Indeed, Clutch disclosed demand has increased more than 514% year-over-year in the first quarter of this year, and the amount is increasing. Yet, experts say small business owners may do well to carefully do their homework before investing in artificial intelligence.

For instance, ask some key questions before hiring an AI service provider. Check if the vendor’s solution is a good fit for your company and is centered on your industry. Be sure to ask for other users or customer references. That information can show you key elements like a provider’s capacity, how their AI models were built, and possibly show backup support will be provided to your business.

Also, be sure to check specifically how artificial intelligence will solve your business problems and help add value to your company. Ask how AI systems can be added to products and services and carefully examine whether the technology will provide what you are looking for. Don’t be afraid to ask how AI could complement your overall business growth strategy.

Check out this from Clutch that offers tips to consider before diving into AI.