Digging deeper into the research, Xero quantified four key archetypes to differentiate how business owners approach AI: Pioneers (15% of small businesses), Explorers (44%), Realists (15%), and Skeptics (26%).
Of these four groups, Trailblazers were the most likely to say that AI allows them to make faster decisions (55%) and improves job satisfaction and work-life balance (33%).
However, saving time on day-to-day tasks so they can focus on higher-value work was the top motivator (34%) for using AI in the future, and was twice as important to companies as anything else.
Despite the positive results, 40% of respondents said they had data privacy and security concerns regarding the use of AI and were distrustful about the quality of AI output.
When it comes to what helps, research shows that 47% of small businesses want hands-on training, 46% want access to trusted and vetted tools, and 43% want real-world case studies.
In response to feedback, Xero partnered with ASB to launch a free AI bootcamp program for eligible businesses, powered by academyEX.
“Partnering with ASB means we can connect Kiwi businesses with hands-on learning experiences to upskill. Through our 12-week online program, business owners will learn how to use AI safely and responsibly in a way that truly supports their business objectives,” Snelling added.
Ben Speedy, executive general manager of business banking at ASB, said many businesses faced constraints in translating intentions into action.
“Through our partnership with Xero, AI Bootcamp will help businesses build the confidence to start using AI in a practical way,” said Speedy.
“As part of ASB’s broader productivity program, we can connect businesses with the tools, talent and expert support they need to take action, increase productivity and free up valuable time.”
Mr Snelling also acknowledged the need for Wellington Government action on this issue, with 57% of respondents wanting the government to set clear regulatory and accountability standards, and to enforce strong data protection and standards (55%).
One in three also want the government to provide education and training resources.
“Business owners know what they need from governments to educate and protect them in order to experiment with and deploy AI tools.
“We’re asking the government to factor this into decisions about the future of Aotearoa New Zealand’s economy… Businesses believe AI can help them. They just want to be sure they’re using AI in the right way.”
Tom Raynell is a multimedia business journalist. heraldcovering small business, retail and tourism.
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