What is AI?

Artificial Intelligence (AI) refers to technology that enables machines to perform tasks that traditionally require human intelligence, like problem-solving, learning, and decision-making.

For small and medium businesses (SMEs), AI is a game changer, automating repetitive tasks, improving customer service, and helping make data-driven decisions that boost productivity and efficiency. 

What AI means for your business

AI can take on repetitive tasks, streamline operations, and free up your team for higher-value work. Think automated payroll processing, AI-driven chat-bot customer service, or predictive analytics that help you make better decisions for your business and customers. One-third of CEOs say generative AI has increased revenue and profitability over the past year, and half expect their investments in the technology to increase profits in the year ahead.¹

Who’s leading the way?

Some industries are embracing AI faster than others. The top adopters are:

• Manufacturing, health, and education at 45% 
• Retail trade at 38%
• Hospitality at 27%
• Shipping and distribution at 27%

On the other hand, industries like agriculture, forestry and fishing are lagging behind at only 6%.²

How are businesses using AI?

AI is reshaping jobs, not removing them. The focus is shifting from routine tasks to roles that need creativity, problem-solving, and human connection. The key? Upskilling. Among those using AI, the most popular applications include:

• Data entry and document processing
• Fraud detection
  
• Generative AI assistants
• Marketing automation

Even we use AI to enhance efficiency—just like the image on this webpage, created with generative AI from Adobe Photoshop.

How to stay competitive

To maintain a competitive edge, businesses should focus on automating time-consuming tasks that AI can streamline. Investing in upskilling ensures employees grow with AI rather than being left behind. The most effective AI strategies enhance human strengths rather than replace them. Businesses must stay flexible—AI technology evolves rapidly, and ongoing learning and adaptation are key to long-term success.

Stay ahead with free AI training for your business

Don’t get left behind. The government offers free AI training and advice for small and medium businesses. Learn how to use AI in your business to boost efficiency, cut costs, and stay competitive. The opportunity is there—you just need to take it. How will you use AI to grow?

¹PWC: 28th Annual Global CEO Survey Jan 2025

²Australian Government: Exploring AI adoption in Australian businesses Dec 2024

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