Canadian entrepreneurs believe AI will save money and work hours: GoDaddy survey
by CM Staff
The average Canadian small business owner estimates that generative AI tools could save them $2,600 and around 260 hours per year, while one in four believe the technology can reduce their workload by 500 hours or more annually.
TORONTO — Millions of Canadian entrepreneurs are potentially missing out on saving time and money by not harnessing AI for their businesses, according to a new survey by GoDaddy.
The research, conducted among more than 500 Canadian small business owners, found that just one in five has used generative AI for business-related tasks, despite most expecting AI to help reduce costs and hours worked. The average Canadian small business owner estimates that generative AI tools could save them $2,600 and around 260 hours per year, while one in four believe the technology can reduce their workload by 500 hours or more annually.
GoDaddy’s data shows that a lack of confidence in applying generative AI to business tasks is the main barrier to more widespread use among entrepreneurs.
- Almost 3 out of 5 (62%) believe that generative AI could help them run and grow their business
- Half (50%) admit they don’t know how to start using generative AI, citing a lack of easy-to-use solutions for small business owners
- Three in five (61%) survey respondents have used AI for personal tasks, demonstrating enthusiasm for the technology
The Right Solution for Any Canadian Small Businesses
“Canadian small business owners understand the potentially transformative power of generative AI, yet half of them lack the confidence or knowledge to apply it to their ventures,” said Young Lee, head of GoDaddy Canada.
