AI for SMBs – strategies for adoption
05/27/2021 CST • Workshop Room 4
Artificial Intelligence (AI) is being hailed as the new General Purpose Technology that can significantly drive economies by unlocking growth potential and driving innovation. Like electricity and the internet, AI is already becoming pervasive and driving transformation across multiple sectors with diverse applications. Yet, as AI becomes more accessible, adoption in small and medium businesses remains low. The concerns for cost, limited awareness, lack of expertise, and uncertainty of and outcomes are some of the barriers to the adoption of AI by SMBs.In this session, we present the potential of AI for SMBs and outline some strategies they can use to overcome the barriers to adoption. We will discuss some use cases that can provide immediate value to SMBs and outline tactics to implement those in a limited budget, shorter time, and reduced risks. We focus on tools and solutions that are especially suited for SMBs. We also provide some caveats and risks to watch out for when adopting AI in SMBs.