NY Fed study: US small businesses using AI more optimistic about hiring and revenue
Overview
A New York Federal Reserve Bank study found that US small businesses that adopt AI are more optimistic about hiring and revenue than non-adopters.
Per the report by TechRadar, AI adopters expected a 33-point net increase in employment over the next year, versus 15 points for non-adopters. Nearly half (46%) of US small businesses already use AI, according to the study.
The optimism is not yet matched by results. Only 31% of businesses report higher sales from AI so far, and only about half of adopters (51%) have integrated AI into their business processes, partially or fully, which suggests many are still experimenting.
Written by AI from the articles below · updated Oct 9, 10:57 AM ET
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- TechRadar · AISmall businesses using AI expect faster growth and hiring than non-adopters
AIA New York Federal Reserve Bank study found that US small businesses using AI are more optimistic about hiring and revenue than non-adopters. AI adopters expected a 33-point net increase in employment over the next year, versus 15 points for non-adopters. Only 31% of businesses have actually reported higher sales from AI so far.
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