Goldman: Small businesses using AI say it has a positive impact — and not because it is replacing workers

Core Insights - Small businesses exhibit optimism for the upcoming year, largely attributed to the positive impact of artificial intelligence (AI) on their operations [1][2] Small Business Sentiment - A survey by Goldman Sachs reveals that 78% of small business owners are optimistic about the next year despite concerns over rising costs and economic uncertainty [2] - Among those utilizing AI, 94% report a positive impact on their business operations [2] AI Utilization in Small Businesses - AI tools are employed for various tasks, including menu design, flyer creation, recruitment materials, and staff training [3] - AI also assists in forecasting supply orders and resolving disagreements among business partners [4] Employment Trends and AI Impact - Major companies like Amazon, Walmart, JPMorgan Chase, and Meta anticipate revenue growth without increasing their workforce, and some are even reducing headcount [5] - Goldman Sachs economists caution that AI may introduce "transitional friction" in the job market, although the firm expects a net increase in workers by year-end [6] Productivity and Headcount Management - JPMorgan's CFO acknowledges productivity gains from AI while also indicating a strategy to limit headcount growth [7]