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MSMEs struggle to adopt AI. In the Pacific, should the focus be to utilise models suited to older technology?
MSME Day 2024: Nasscom-Meta White Paper Reveals Challenges in AI Adoption
A recent white paper by Nasscom and Meta highlighted significant hurdles faced by tech-enabled MSMEs in adopting AI. According to the report, 65% of these businesses struggle due to limited awareness of AI tools and resources. Despite acknowledging AI’s potential—94% see it driving business growth—many MSMEs encounter barriers in implementation and training.
Challenges and Opportunities Identified
Based on input from over 300 MSMEs across Indian cities like Gurugram and Bengaluru, the white paper emphasised AI’s potential in areas such as content creation, customer engagement, and product development. However, budget constraints and the need for tailored AI solutions remain critical challenges. The report advocates for a focused approach to support MSMEs, including local accelerators and financial aid for AI training.
Action Needed for Future Growth
AI is growing rapidly and becoming more accessible, with new models, chatbots and interfaces coming out almost every week. Even now in the Pacific, there are a minimal amount of people and workplaces integrating AI into major and minor tasks. Technology is a challenge, as is its access, and the biggest challenge for Pacific MSMEs is how to integrate AI with the cheapest and least updated equipment.
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