There is little doubt that AI is going to transform the way we work and do business. It’s already starting to influence core business elements from customer services and marketing through to spend forecasts, compliance and decision making.
And while it has been the larger, wealthier organisations that have taken the lead, it is a growing consideration for SMEs. Yet for many, AI feels distant, risky and expensive. What role it will play in smaller companies isn’t yet clear either – which is exactly why the House of Lords has created the Business AI Alliance, and why we as an organisation have joined.
AI is already reshaping business, but SMEs are lagging
The Alliance will ensure that SMEs have a voice in AI development in the UK. Rather than being passive recipients of rules and tools and systems that are designed for large organisations, SMEs will be able to actively shape the landscape to suit their needs too.
It’s an important step in the UK’s AI development strategy. One of the biggest barriers to AI adoption among SMEs is confidence, with many worrying about cost, complexity, ethics and regulations, or simply choosing the wrong approach. To that end, The Business AI Alliance will try to demystify AI, and focus on practical and responsible use, rather than hype.
What this means for non-technical SME leaders
For non-technical leaders this is useful. You don’t need to understand algorithms or data science to benefit from AI, you just need clarity. Adopting it for its own sake isn’t a good strategy, so you need to understand where AI can genuinely help your business, where it can’t and how to integrate it as part of your long-term aims. The Alliance will help with that by bringing together real-world experience from companies already making those decisions.
While helping SMEs to avoid expensive mistakes, it will also give them a seat at the table determining regulations. AI policy and governance is evolving rapidly and without representation, SMEs risk being governed by frameworks shaped by larger organisations with bigger budgets and different priorities. The Alliance will mean that smaller businesses can contribute to the debate and influence regulation, standards and best practice.
Why workable AI rules matter for smaller businesses
This isn’t about politics either. It’s about ensuring that future AI rules are workable for companies that don’t employ large legal teams or in-house AI departments. In time, that will translate into greater trust in the SME community because those that engage in responsible AI discussions will be better prepared to deliver transparent, ethical services.
For your clients and customers, that will offer reassurance that AI and tech are being used responsibly. Being part of the Business AI Alliance will show that a business takes its responsibilities seriously. As an MSP that works with SMEs we’ve taken that step – partly so that we can ensure our approach to AI is sound, and so that we can support our clients too.
AI as a long-term, accountable strategy
It is clear that being part of the Alliance will help to show that SMEs are adopting AI as part of a considered, focused and long-term strategy. That’s especially important for companies in a variety of sectors in which accountability and data handling are critical.
Ultimately, this is about connection. SMEs don’t really have the time or capacity to do AI alone. The Alliance will bring together expertise from business, academia and policymaking to create opportunities for shared learning, collaboration and partnership.
In reality, that translates to greater insight, use case examples and conversations that will help SMEs to move forward confidently and at their own pace.