Artificial Intelligence Implementation in Small Businesses

Abstract

Object: The main purpose of the paper is to make an overview on AI implementation in small businesses and to figure out if small businesses should use AI for their operations. The AI tools became extremely popular within the last decade; however, most businesses do not recognize its potential benefits.
Methods: A SWOT analysis that is supported by secondary research and dedicated survey among 32 business owners that incorporated AI tools.
Findings: Most survey participants indicated the high value of AI tools in enhancing business efficiency while the initial implementation cost being low due to the fact most participants use common AI solutions that are free or require minimal monetary investments, while the SWOT analysis illustrated high implementation and maintenance cost for uncommon AI solutions. However, common AI comes with more potential threats that can be eliminated by personalized AI tools.
Conclusions: AI can be a powerful boost for small businesses to operate more efficiently and to reduce unnecessary costs. However, small businesses should consider their own business needs and potential threats to fully utilize AI.