Sixty per cent of Australian SMEs plan to use artificial intelligence by 2026, signaling a tech-savvy future for businesses across the nation, new figures from Small Business Loans Australia showed.
Already, 25% of all SMEs have integrated AI into their operations, utilising tools primarily for reporting and data analysis. The commitment to AI is even more pronounced among medium-sized businesses, where a staggering 90% expect to adopt AI technology by 2026.
While AI uptake is robust across various business sizes, micro businesses (with fewer than 10 employees) show some resistance, with only 41% using or planning to use AI. In contrast, medium-sized firms are at the forefront, embracing AI for productivity enhancements and customer interactions.
Among the states, New South Wales leads with 67% of businesses using or planning to incorporate AI by 2026. In contrast, Western Australia currently has the highest integration rate at 40%, but future adoption looks limited, Small Business Loans Australia data showed.
Alon Rajic (pictured above), founder and managing director of Small Business Loans Australia, commented on the findings.
“These figures paint a clear picture of where Australian businesses are leaning on AI,” Rajic said. “Across the board, time-consuming data analysis or automatic reply tools are favoured above all in this fast-growing tech realm.
“When delving deeper into this trend, it’s easy to see that AI is being heartily embraced in areas where human error can be costly, and manpower can be time-consuming. Australian businesses are increasingly seeing the value in utilising AI for those arduous, laborious, and menial tasks that don’t require a human touch, creativity, or finesse.”
With AI tools rapidly evolving and becoming more accessible, even smaller businesses are expected to recognise their potential to save costs and time. As the landscape of digital tools expands, the integration of AI in everyday business practices is likely to become more common, helping businesses of all sizes to improve efficiency and innovation.
Click here for the full survey results from Small Business Loans Australia.
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