Almost half of entrepreneurs (49%) say they have used AI to support their business in the past year. More than four in ten (43%) already pay, or would be willing to pay, for AI to help manage their business. This is according to a survey of 510 business owners by the neobank bunq.
Despite the willingness to use the technology does not necessarily translate into confidence in it. Lack of knowledge and/or trust is the most commonly cited barrier to wider AI adoption, identified by 36% of respondents. Cost follows at 27%, while 18% point to security concerns.
“Being sceptical about a new tool until you see the actual value is good business sense,” said Joe Wilson, chief evangelist at bunq. “Entrepreneurs juggle everything: finance, logistics, red tape… and that’s where AI needs to win them over, by taking the admin off their plate and giving them back their time to focus on their actual business, not paperwork. Tech should fit around the business you’re building, not the other way around.”
The time entrepreneurs spend on administration illustrates the operational pressures they face. Almost three-quarters (74%) estimate that administrative tasks take up at least a quarter of their working week, while almost one in five (19%) spend more than half their week on them.
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