Agency Blog

Artificial intelligence (AI) continues to be adopted and applied everywhere to every kind of business. The general belief is that businesses that don’t make this transition will lose out in the long run. There remain, however, places that have worries and concerns about adapting to AI. Many of these places are small-to-midsize businesses.

Percentages and reservations

To be more exact, a selection of small businesses want to try AI—but have reservations. In a study from Constant Contact and published in Media Post, approximately 44 percent of these businesses are able to use AI but are hesitant, while 16 percent are uncertain and 14 percent have no interest. As to where other small-to-midsize businesses stand, 26 percent have made the move and are applying AI technology to a variety of tasks to improve efficiency of their operations. Why then, are there still a percentage of “AI holdouts”?

Concerns

Big, multimillion dollar corporations adapted to AI with little-to-no concern. Small-to-midsize businesses, however, would have more to lose if there were any fallout, so they are understandably over-cautious. These concerns and reservations about AI center on data security, expense of implementing the technology, and how long the required “learning curve” time frame would take. While easier said than done, these smaller firms should go forward, even if they take small steps, to implement AI. Those businesses that have moved forward have benefitted in ways they may not have imagined…

What a difference a year makes…

Further results in the Constant Contact survey noted 43 percent of the small-to-midsize companies which have been using AI for approximately one year grew their business and developed stronger connections with their customers. In some cases, these firms have even been able to compete with larger companies, while smaller enterprises have found that AI has saved them time and increased efficiency. Results like these should make stragglers realize that the benefits outweigh concerns.

Keeping in-step with the times

If you own a small-to-midsize business and have the reservations about adapting to AI because of security, cost, and time, keep in mind that competitors who have made this transition are in an advantageous position and may attract your customers. Don’t become part of the 14 percent of businesses that have no interest. Stay in-step and adapt, so that your business stays strong and relevant.

The EGC Group has its own AI-powered game changer which is keeping clients strong and relevant. Through the EGC EDGE™, our team of experts help clients keep ahead of their competitors by leveraging data from all sources of media that include television, digital, social media, and even out-of-home (OOH) advertising, among other forms. In short, the EDGE provides clients with a blueprint to help them come up with winning strategies in their respective businesses.

Stay in the game. Get in touch with EGC to find out how we can help.