Indian MSMEs See AI As Major Game Changer For Business Operations: Report

In India, about 94 per cent of small business owners believe implementing artificial intelligence would result in tangible positive outcomes, according to the GoDaddy global entrepreneurship survey.

Also, 94 per cent of Indian small business owners view implementing AI as key to positive outcomes. Furthermore, when it comes to investing in AI tools, the top three compelling reasons were a positive impact on customer service (53 per cent), the potential for increased efficiency (41 per cent) and improved decision-making through data-driven insights (40%).

Notably, respondents identified key areas where AI could have the most benefit for their small business operations citing marketing (65 per cent), business planning and strategy (61 per cent) and customer experience (52 per cent). Overall, 97 for of small business owners believe that digitalisation has noticeably improved their work processes.

Despite the optimism, survey respondents shared their concerns about the implementation of AI tools including the lack of awareness about available solutions (50 per cent), lack of understanding of the benefits (45 per cent), potential costs (43 per cent) and lack of time to implement these tools (29 per cent).

As Indian entrepreneurs embrace the potential of AI to boost their businesses, 87 per cent of respondents expect their business to grow in the next three to five years, with 40 per cent expecting their business to grow at least 50 per cent in that timeframe.

“AI is a valuable asset in targeting the right audience, measuring campaign effectiveness, and making informed business improvements among other benefits. With a spirit of innovation and an eye on the future, Indian small businesses are poised to unlock growth opportunities," commented Apurva Palnitkar, Senior Director Marketing, GoDaddy India.