As Wall Street pushes valuations of AI companies into the atmosphere, America's small businesses are getting more 'AI curious,' survey shows
A large swath of businesses that drive nearly half of US economic activity is leaning into artificial intelligence, as valuations of AI-linked stocks have swelled by hundreds of billions of dollars in the equity market.survey of 550 small business leaders.
The survey, which ran in March, showed that 41% of small businesses are prioritizing AI to help them make decisions. The online query found 39% of respondents were using AI tools for time-saving purposes and 20% were aiming for customer-service efficiency. There is also a generational divide: 56% small businesses run by Gen-Zers and Millennials are prioritizing AI regardless of their operational size versus 24% among older generations.
The findings come as Wall Street is in the midst of an investment frenzy set off by last year's introduction of natural-language chatbot ChatGPT. Stronger demand for AI products and prospects for the technology has prompted stock investors to pour billions of dollars into shares of chipmakerNvidia stock has surged 159% during 2023, and in May alone, Nvidia's market capitalization jumped by $248 billion, outpacing gains among the top 20 global companies by market value,
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