AI adoption could add billions to Australia’s economy and lift small firms
A new report says AI could save small businesses time on admin tasks, potentially boosting productivity and injecting billions into the national economy.
Research by the Tech Council of Australia suggests that artificial intelligence could dramatically reduce administrative burdens for small and medium-sized enterprises, freeing time for core activities. The analysis projects an average annual productivity increase of $136,000 per business, which could translate into a $93 billion boost to the national economy. Among firms already employing AI, 94 % reported efficiency improvements and 54 % of staff said their job satisfaction rose.
Despite these benefits, only 25 % of such businesses have adopted AI and a mere five per cent use it extensively. Barriers identified include limited understanding of the technology, security concerns, and uncertainty about return on investment. Kate Cornick highlighted the gap between potential and current use, while Ben Thompson said AI could lift the weight of payroll, compliance and other routine tasks off small owners.
Why it matters
AI could help small Australian businesses cut admin costs, raise productivity and strengthen the broader economy.
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