Research — Impact of Generative AI in North Carolina

About the Research

This research explores the impact of Generative AI on small businesses in Greenville, North Carolina. It examines how businesses adopt AI, the challenges they face, and the potential opportunities it presents. Through a survey of seventeen small businesses across various sectors, the study provides insights into how AI influences daily operations, decision-making, and business growth. The findings contribute valuable knowledge for entrepreneurs, policymakers, and technology providers to navigate AI adoption in small businesses effectively.

  • Location : Greenville, North Carolina
  • Client : Self-conducted academic research
  • Lead ResearcherMajoie Ngandi
  • Co authorsFoluso Ayeni, Victor W.A Mbarika.
  • Project Type : AI & Business Impact Analysis
  • Duration : 6 months
  • Completion : Completed
project-single1

My Strategy

To understand AI adoption in small businesses, I implemented the following research strategies:

  • Industry-Specific Analysis: Businesses from various sectors, including retail, healthcare, and marketing, were surveyed to evaluate AI's diverse applications.
  • Data-Driven Insights: AI-driven analytics were used to assess how small businesses leverage generative models for customer insights, automation, and marketing strategies.
  • User-Centric Focus: The study emphasizes the real-world experiences of business owners, analyzing both positive impacts and hesitations about future AI adoption.

“It is a golden age. We are now solving problems with machine learning and artificial intelligence that were in the realm of science fiction for the last several decades. And natural language understanding, machine vision problems, it really is an amazing renaissance.“

Jeff -

Bezos

Key Insights & Findings

The research revealed the following significant trends in AI adoption among small businesses:

📊 Motivations for AI Adoption:

  • 60% of businesses cited cost-effectiveness, operational efficiency, and competitiveness as reasons for using AI.
  • Retail and marketing sectors reported the highest AI adoption rates.

 

âš¡ Challenges Identified:

  • Lack of technical expertise and high implementation costs are major barriers.
  • Concerns about AI ethics and data privacy slow adoption.

 

🚀 AI’s Business Impact:

  • 50% of businesses surveyed generate over $500,000 annually and use AI to enhance customer engagement.
  • Generative AI improves customer insights and personalization, particularly in marketing, customer service, and automation.

🔮 Future Outlook:

  • Despite AI’s benefits, businesses remain hesitant about expanding AI adoption, indicating a need for better education, cost-effective solutions, and regulatory guidance.

Impact & Results

  • Informed Decision-Making: Local businesses now use AI-powered insights for strategic growth and efficiency.
  • Enhanced Data Accessibility: AI-driven dashboards improved data-driven decisions in marketing and customer experience.
  • Economic Impact: While AI increases productivity, businesses require better training and support to scale its usage.
  • Read the Conference paper here