Microsoft and consultancy WPI Strategy have compiled a report that suggests that SMEs could unlock up to £78bn for the economy over the next decade. This can be achieved by greater adoption of generative AI. Federation of Small Businesses analysis shows that 55% of SMEs believe the use of AI could add a huge benefit to their operations. Interestingly, 46% said they lack understanding of the technology. Naomi Weir of the Confederation of British Industry, says the UK “has a huge opportunity to lead, but only if we act now to make AI accessible for all businesses – not just a few.”
BFS Comment:
Ms Weir is right about the ‘huge opportunity’ but this will require two things;
- A better understanding among SME owners/managers of the true benefits if AI.
- Willingness to make significant investment by those SME’s and their backers.
If you need help and advice with either of these matters then contact us at enquiries@bufinserv.co.uk or call us on 07770 866 955 and ask for a Free consultation on what your options are. We can advise on the funding and we know people who can explain the true benefits of AI.