Opportunities and challenges for small medium enterprises in implementing artificial intelligence

Industries are driven by artificial intelligence (AI), and an industry’s potential to thrive rests on how well it can incorporate AI into its day-to-day activities. Industries that cannot automate will not only be unable to compete with one another in the business, but they will also be unable to offer customers sufficient service. Customers are the ultimate end users who benefit from business automation in companies. Experts said that the study’s objective is to gain a deeper understanding of AI Implementation and how it might facilitate successful corporate operations. However, implementing AI is challenging, and even once it was implemented, employees vehemently resisted it. The application of AI in corporate operations has been met with resistance due to worries that it will displace human resources and lead to a high unemployment rate. Implementing AI is critically essential in every business. SMEs are already struggling to survive, and adding AI would only make things worse. They can’t get by because of a lack of money, inadequate infrastructure, technical difficulties, etc. They face yet another challenge from AI that they are unable to overcome or adapt. Data was collected through two ways. One by using The Preferred Reporting Items for Systematic reviews and Meta-Analyses (PRISMA), this study thoroughly evaluated relevant literature to identify the main obstacles SMEs face while deploying AI. Secondly 30 SME owners were interviewed regarding the opportunities and challenges facing these SMEs with regard to AI implementation and their views also were gathered for the study. Research from many continents showed that the two biggest issues facing SMEs in Asia were sustainability and regulatory concerns. The literature also revealed that Asian SMEs were more interested in reaching a wider market at a cheaper cost than they were in automating their procedures. However, because AI has such great potential for improvement in many areas, the literature has continuously emphasized how important it is to implement it. All things considered, this study has described the challenges that SMEs face while deploying AI and has touched on possible solutions.