INVESTIGATION OF ARTIFICIAL INTELLIGENCE IN SMALL AND MEDIUM-SIZED ENTERPRISES: A CASE STUDY OF THE COLLEGE OF BUSINESS STUDIES

Abstract

Small businesses serve as the cornerstone of global economies, and as artificial intelligence (AI) becomes increasingly pervasive, understanding the perceptions of students, instructors, and business owners regarding the role of AI tools in fostering small business growth is imperative. This study seeks to provide valuable insights into these perspectives, particularly in the context of small enterprises. Adopting a mixed-methods research approach at the College of Business Studies (CBS), the study integrates quantitative metrics with qualitative depth to offer a comprehensive understanding of how AI tools are perceived and envisioned within the student community. The study's participants, including 24 focus group members and 559 survey respondents, expressed diverse views on the challenges and opportunities associated with AI adoption. While many recognized the transformative potential of AI across various domains, significant concerns were raised regarding ethical considerations, job displacement, and data privacy. These apprehensions highlight the risks of overreliance on AI algorithms, particularly in fostering biases or making decisions devoid of human judgment and empathy. The findings revealed a strong positive correlation among key variables. As students' awareness of AI tools increased, they perceived these tools as more effective, believed they exerted a greater influence on small enterprises, demonstrated greater enthusiasm for their utilization, and developed a more nuanced understanding of the associated challenges. Furthermore, the study identified no significant gender differences in students' perceptions of AI or the importance they attributed to small and medium-sized enterprises (SMEs).