Developing trust in artificial intelligence is crucial if more small businesses are going to integrate the new technology in their operations, the UK’s tech minister has said.
More than half of Britain’s small and medium-sized firms are beginning to use artificial intelligence (AI) to grow their business, but a “lack of understanding” still lingers for some, according to new research by small business support platform Enterprise Nation.
The new report found that although there is a growing interest in AI among smaller firms, there is still a lack of confidence in how to safely use it.
Reacting to the report, Minister for Tech and Digital Economy Saqib Bhatti told City A.M.: “Everything we do, in my view, has to focus on trust and transparency.”
“Obviously the demand is there and we as a government obviously recognise there’s risks there as well,” Bhatti said.
“We’re working very hard to grip those risks so people can adopt this transformative technology and implement it,” he continued.
The effective adoption of AI within small businesses will “add billions to the national economy and global economy”, Bhatti added, freeing up founders to further work “on” their business, not “in” it.
Bhatti said the government’s £3.8bn investment in digital training and skills by 2025 will help businesses of all sizes leverage AI’s “full potential”.
Emma Jones, founder of Enterprise Nation, said: “Small business founders are more than anything else, time poor.
“They see AI as the key to increasing the efficiency and speed with which they can fly through things like marketing campaigns and social posts,” she said. “But they need more support to do so.”