AI and small business: expert answers to 7 burning questions [Video]

Even though AI systems are already in action on phones, photos and even fridges, it can be daunting to take the first deliberate steps to deploy an AI tool in your own business. However, those who are leaving AI untapped risk being left behind. 

Dhivyaa Thayalan, CommBank’s AI Products and Partnerships Lead, cheekily asked the most well-known AI tool, large language model ChatGPT, to “Define AI in a few words.” It produced an answer instantly: “Artificial Intelligence is when computers are made to think and learn like people. They can understand language, solve problems and make decisions. AI helps machines do tasks that usually require human intelligence, like recognising speech, playing games or recommending products.”

We tapped human experts in AI to explain what that means for small business owners.

How can AI benefit my small business?

Duncan Taylor, Director of Financial Services at Microsoft ANZ, nominates marketing and communications as a key area where AI can …