How Canadian entrepreneurs view AI's potential vs real-world uses
A GoDaddy survey has shed light on the attitudes and experiences of Canadian entrepreneurs regarding the use of artificial intelligence (AI) in business.
The survey, announced on Newswire Canada and involving over 500 Canadian small business owners, reveals a significant disparity between the perceived benefits of AI and its actual application in business practices.
Key findings from the survey include:
- A majority of Canadian entrepreneurs believe that AI can save them both time and money. However, only one in five has actually employed AI for business tasks.
- On average, small business owners expect AI to save them $2,600 and 260 hours annually. Additionally, 25 percent believe AI can reduce their workload by over 500 hours per year.
- Despite recognizing the potential of AI, many entrepreneurs are hesitant to adopt it. The main reason for this reluctance is a lack of confidence in applying generative AI to business tasks.
- The survey also shows that 62 percent of entrepreneurs believe generative AI could assist in running and growing their business. In contrast, 50 percent admit to not knowing how to start using generative AI, citing a lack of accessible solutions for small business owners.
- Interestingly, 61 percent of respondents have utilized AI for personal tasks, indicating a general enthusiasm for the technology.
In response to these findings, GoDaddy has launched GoDaddy Airo™ in Canada and the U.S. This AI-powered solution is designed specifically for small businesses to easily leverage generative AI. GoDaddy Airo™ offers a range of features to support business growth, including:
- Instant generation of unique, customizable logo designs.
- Creation of a fully equipped website with engaging content and imagery.
- Provision of a professional email account to enhance business credibility.
- Automatic generation of custom product descriptions for online stores.
- Comprehensive email marketing campaigns, complete with content and imagery suggestions.
- A social media calendar with optimal posting recommendations.
- Effective social media and search engine advertisements to drive website traffic.
Young Lee, the head of GoDaddy Canada, commented on the survey results, stating, “Canadian small business owners understand the potentially transformative power of generative AI, yet half of them lack the confidence or knowledge to apply it to their ventures. That's about to change.”
