Survey of US small businesses shows that Gen X and baby boomers are more likely to use AI for services like chatbots - if they use it at all
The business world has been flooded with new AI tools and technologies, but younger business owners — especially Gen Z and millennials — are far more interested in using them than Gen Xers and baby boomers .
That's one of the key findings of a new survey of small businesses in the United States conducted by American Express, conducted by Morning Consult, which interviewed more than 1,100 financial decision makers at these businesses.
The research identified very different behaviors between generations when it comes to adopting artificial intelligence for use in small businesses.
Specifically, nearly 60% of millennial and Gen Z respondents said their companies were already utilizing AI in some way, compared to just 34% of Gen X and baby boomer respondents.
The research also highlights how different generations of entrepreneurs are using AI. Among younger entrepreneurs, the most common uses were for task automation and cash flow analysis, while older entrepreneurs used it primarily for chatbots, virtual assistants, fraud protection and employee management.
Overall, the most common uses of technology among all respondents were to analyze customer data, deploy chatbots or virtual assistants, and create content.
Whether these different
approaches will affect
profitability is difficult to
predict.
The research provides a broader look at how AI is being used by small businesses and how this usage breaks down across generations.
While many “old-timers” approach AI with a healthy dose of skepticism, they’re also finding that AI tools can be beneficial in many ways. Younger people are also taking a more cautious approach in many cases. A report released in June found that only 4 percent of Gen Zers regularly use AI tools.
Among consumers, a portion also see no benefit in using AI. A recent study from Washington State University found that some consumers avoid products that mention AI in the description, preferring the “normal” versions if given the choice.
Still, Amex’s new research offers an interesting insight into the generational divide that’s unfolding when it comes to AI use among small businesses. Whether these different business approaches will affect profitability is hard to predict at this point.
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