From mundane tasks to complex proposals, AI is ready to help according an NAB survey.

 

Forty-two per cent of small and medium enterprises are currently using AI while a further 14 per cent are planning to, according to a new report from National Australia Bank.

 

NAB Economics’ research on SME’s use of AI shows customer communication - marketing and sales -   as the most common AI application among small business people, identified by 51 per cent of users.

 

Dean Pearson, NAB Economics head of behavioural and industry economics,  said the findings point to a two-speed adoption pattern. 

 

“Industries with more digital workflows like the property services sector lead the way for AI uptake with 69 per cent adoption. Other less-digitised sectors like retail (22 per cent) and transport and storage (21 per cent) highlight the challenge to overcome capability, capacity, and confidence constraints,” he said.

 

Melbourne-based interior design and property services director Tim Gauci (pictured) said the customer focus shapes how they use AI in their business. Instead of replacing human interaction, AI is a means of support - improving efficiency and decision-making while preserving trust-based client relationships.

 

“I use it to summarise reports, contracts, consultant documentation and client emails, extract risks, gaps and actions from technical material and generate structured draft proposals,”  Gauci told NAB, stressing the importance of review.

 

“AI is a productivity and thinking accelerator - not a substitute for professional judgement," he said. 

 

To see the full report, click here https://news.nab.com.au/tag/artificial-intelligence/how-are-small-busine...

 

PHOTO CREDIT: NAB