Recent research reveals a disconnect in AI adoption among Australian small businesses, with a Xero survey showing that while 57% of those experiencing revenue growth use AI weekly, over half feel AI’s removal wouldn’t impact them. This “readiness gap” highlights a growing divide, where AI-adopting businesses thrive while others lag. Time constraints are a major barrier, with 23% of respondents lacking the time to explore new technologies—far exceeding figures from the UK (11%) and US (8%). Concerns about data privacy (42%) and AI reliability (35%) further hinder adoption. Despite 56% of business owners expressing confidence in AI, a deeper level of trust is necessary for critical integration. Current AI application is mainly in creative fields, but there’s a rising interest in operational use, particularly in accounting. Experts suggest a gradual approach to adoption, starting with automating repetitive tasks. Implementing a structured model could help bridge the readiness gap and enhance competitiveness in Australia’s evolving economy.
Source link
