According to a study by Constant Contact, small businesses using AI have seen notable success, with 91% of those surveyed believing it has amplified their success rate. The financial returns are even more appealing when AI is paired with automation, with 28% of those surveyed anticipating savings of over $5,000 in the coming year.
- 60% of small businesses using AI or automation for marketing reported time-saving and enhanced efficiency.
- 70% expressed willingness to pay a premium for a marketing platform offering AI or automation tools.
- Around 33% claimed to save more than 40 minutes weekly on marketing tasks due to AI or automation.
However, there remains a knowledge gap, with 46% admitting to having only a rudimentary understanding of these technologies’ benefits.
Now, it’s not all rosy.
A study by Brigham and Women’s Hospital found that OpenAI’s ChatGPT provided false information when generating cancer treatment plans, with one-third of responses containing incorrect information and a tendency to mix correct and inaccurate information together. That’s confusing — Out of 104 queries, around 98% of ChatGPT’s responses included at least one treatment recommendation that met the National Comprehensive Cancer Network guideline.
Why do we care?
We’re so early in the implementation of AI. Today, I want to focus on the stakes of implementation. Where the damage from a mistake is low, we’ll see faster adoption. The higher the risk, the more problematic it is. Obvious, of course, yet significant. Currently, use cases are being explored to see what’s possible, and low-risk implementations will know many more early results.
This is to be expected. We should be encouraged by the extensive research going into determining use case applicability.