Entrepreneurs are the primary drivers of innovation in our economy. They lead at innovating and at utilizing the innovations offered in the marketplace by other entrepreneurs and businesses.

So, we shouldn’t be surprised that entrepreneurs tend to have a better grasp on opportunities related to the development of artificial intelligence, or AI.

The latest “Small Business Check Up Survey” from SBE Council reported that approximately 77 percent of small businesses report using AI tools.

Among those using AI tools, artificial intelligence “is mostly viewed as transformational rather than destructive. Fifty-six percent report AI is creating new opportunities or reshaping roles without reducing headcount, while only 19% believe it is eliminating more jobs than it creates.” (See the following chart from the survey report.)

While a great deal of pessimism swirls about the ultimate impact of AI, small business owners, who tend to have a better understanding of the effects of technological advancements and innovations, seem to see, on net, increased opportunities and productivity.

As is the case with technological advancements throughout the history of free enterprise, economic growth advances, new jobs are created, many positions are transformed, and people are freed up to create further innovations, new firms and even entirely new industries. And while some jobs certainly are eliminated, they are dwarfed by the creation of new employment opportunities.

Technological advancements in the market economy have been good news for economic growth, wealth creation and the reduction of poverty. AI promises to be no different, and it will be exciting to see how exactly businesses and consumers choose to use these new tools and opportunities.