Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
All right, let's do something different.
Speaker 2 (00:02):
I'm pleased to be joined on the show by Jordan Crenshaw.
Jordan is senior vice president at the US Chamber of
Commerce Technology Engagement Center, and we're going to talk a
little bit about business and AI. Obviously, AI is an
enormous part of so many conversations these days. The US
Chamber of Commerce has a new report out and I'm
(00:23):
looking at it right now. It's ninety six pages long,
Empowering Small Business, the Impact of Technology.
Speaker 1 (00:30):
On US small Business.
Speaker 2 (00:31):
It's not all about AI, but AI is a key
part and an interesting part.
Speaker 1 (00:35):
So Jordan, welcome to KOA, Thanks for being.
Speaker 3 (00:38):
Here, Ross, thanks for having me. It's great to be on.
Speaker 2 (00:41):
So I'm going to start with a macro kind of
framework and then you can just add in whatever you
want to add in and take it wherever you want
to take it. So, on the one hand, I believe
that AI is going to be massively transformational to almost
any to any part of societ where it could apply,
it will apply, and it's going to change a lot
(01:04):
of things.
Speaker 1 (01:06):
On the other hand, and actually I shouldn't.
Speaker 2 (01:08):
Say on the other hand, because that statement is true
in my opinion, what we've seen so far, I think
is that businesses, many businesses have been struggling with the
integration of AI into their daily business operations, trying to
figure out how to make it work, trying to figure
(01:29):
out how to get their employees to adapt to using
it or to adopt it, and it seems like in
these early days it's at least a little bit bumpy.
So that's just more of a statement than a question.
Why don't you tell us just take it wherever you
want to take it, whatever you think we need to know.
Speaker 1 (01:45):
And what your report talks about.
Speaker 3 (01:48):
Well I couldn't agree with you more that AI is
going to be transformational. It already is. In fact. You know,
what we found in our report is that small businesses
that are embracing AI are thriving. And what we also
found in our report is that small businesses are actually
pretty inventive and about sixteen percent of them, which is
(02:09):
a record for this report. Are you actually using generative AI? Now?
A great example as a company called Friction Labs in
the Denver area, and they're using AI to solve machine
problems and cut down on research time and they're able
to solve solutions in a matter of hours as opposed
(02:30):
to weeks like they would have had prior to AI,
And so I think what we're really finding is that
this is transforming smaller businesses in a way that they're
able to compete. One other thing we looked at in
the report I think was really fascinating as well for
the first time is crypto. And we also found that
(02:50):
one third of small businesses in Colorado are using some
form of cryptocurrency, and that's for things like you know,
paying vendors or rereading loyalty programs with crypto. So some
really innovative things we're looking at right now as well
in terms of that space.
Speaker 2 (03:07):
Okay, so it sounds like you, it sounds like you
think that these the somewhat pessimistic take that I had
been reading is too pessimistic, and.
Speaker 1 (03:16):
That AI is being well.
Speaker 2 (03:19):
Used in businesses more than I had been led to
believe by some of these articles I was reading.
Speaker 3 (03:25):
Right, Yeah, I mean, I think in terms of the
small business side here is that we're finding that AI
is really a force multiplier and small businesses are waking
up to this. And these are companies that don't have
the same resources from a time standpoint or a financial
standpoint is larger companies and they're really able to innovate
(03:47):
an experiment here. And some of the really interesting ways
we're seeing this happen right now are they're streamlining things
like advertising and marketing. I talked to a coffee shop
owner who has used artificial intelligence to cut his marketing
time down by seventy percent. We've actually focused on the
front of the house and not at the back of
the house and working with customers and really fine tuning
(04:08):
the product. We're also seeing some example that you know,
I talked to one skincare product company. It's two women
out of southern California who were actually running a skincare
product line where they're actually using generative AI to source
alternative locations for products as part of their skincare products
from places that are being hit less by tariffs or
(04:31):
inflation to help from passing on costs to consumers. And
you know, we also have even seen design of products
being used with AI. There's a great small business owner,
a gentleman named Adam who owned Soda Pop in Colorado,
who actually was using AI to help design his his
(04:52):
his pet toways that he's selling in his business and
and So what we're finding here is that that AI
is working for the small businesses that are using it.
In fact, eighty two percent of small businesses nationwide have
reported and these are amongst the ones using it. I've
actually had increased employment and hiring over the last year.
Speaker 1 (05:12):
And so that's let me just jump in for a
second year.
Speaker 2 (05:16):
So that's where I want to go next, because I
think there's been a lot and maybe too much, even
though it's a legitimate issue, focus on the jobs AI
is going to kill, and it definitely will kill a
lot of certain jobs, and I think there has not
(05:37):
been enough focus on the jobs that AI might create,
either a new kind of job, or as you were
just describing, maybe there's a business that has some amount
of revenue and they're able to lay off somebody in
the back office who's doing paperwork. You know, maybe they've
(05:58):
got maybe they've got two employees, but with AI, now
they only need one and they can take that money
and hire somebody else who's customer facing or generating revenue
or doing some other thing.
Speaker 1 (06:10):
So I'm curious whether you are seeing AI.
Speaker 2 (06:14):
So far being a net destroyer of jobs, a net
creator of jobs, or somewhere kind of breaking even at
this point.
Speaker 3 (06:23):
So where we view this is simply that with any
technological revolution, we are going to see changes in the
job market, regardless when it comes to AI. As I mentioned,
you know, on the small business side of the house,
this is where we're really optimistic that we're going to
see new jobs created because we're going to have entrepreneurship
(06:45):
blossom as a result of AI. And so, but also
the other piece of the puzzle here is, you know,
there's a lot of economic growth to be expected, just
more on a macro level out of the use of
artificial intelligence, and with that it's going to come job growth.
Now at this point, right now, you know, I think
(07:07):
you know, we've seen a lot of projections. You know,
dune state scenario is projected, and we haven't really seen that.
But we also think it's critically important too that we
have you know, a well prepared workforce in place that
can be ready for the AI revolution. And and and
that's why it's so critically important that you know, for example,
(07:30):
through K through twelve curriculum and in college curriculum, that
AI is built in as part of in a disciplinary
part of education and not a replacement for education. And
it's also important as well that we have local chambers,
community colleges, and even US as the US Chamber working
to help train current employees and current small business owners
(07:54):
on how to use AI. I mean, one of the examples,
I would say the glave Gy and he leads a
coffee company in San Francisco who is dealing with a
lot of economic headwinds, but he said AI has really
helped him compete and cut down in his marketing time
by about seventy percent. He's actually he has an innovation
day for his employees every week for about an hour
(08:16):
for he brings us baristas together and works and educates
them on on how to use AI, whether or not
it's for the company itself or better for them for
later on in the future as well.
Speaker 1 (08:28):
And so are you. I mean, it's going to be
important that we.
Speaker 3 (08:31):
Get folks educated and ready to use this as we
move forward.
Speaker 2 (08:36):
Right, So, but just again specifically to my question, and
I guess here there probably is, as you've implied a
couple of times, and I think you're right, there could
be some fairly significant differences in how a small business
in a great AI versus how a large business in
a great AI for a for a variety of reasons.
A listener just texted, and we're using AI in the
(08:57):
office for our HVAC company. Of course, it'll never replace
what actually happens in the field, but it seems to
be working out pretty well in the office, which which,
by the way, is part of the reason that I
think a lot of like there's waiting lists now to
go to trade schools, to go into hvac.
Speaker 1 (09:12):
And to go into you know, all this stuff, because.
Speaker 2 (09:14):
I do think there are a lot of people who
feel like who feel afraid of what if I choose
a profession that ends up being outsourced to AI and
then I've lost these you know, years of education or whatever.
So maybe I should go into something where I you know,
where I don't have that risk And also, as a
(09:36):
kind of a separate calculation, don't have to pay for
four years of four years of college. But just specifically,
what are you seeing so far as the net effect
of AI on employment in small business positive, negative, neutral,
or just too hard to tell?
Speaker 3 (09:52):
We're at this point we're seeing given the numbers, a
positive a number. For given the fact that the majority
of small business owners are using Jedder AI, and the
vast majority of those businesses have reported increase hiring. I
think we're seeing a net positive on that side of
the house. I think it's a great example. You mentioned
about the HVAC company. Well, I actually had a chance
to chat with a small HVAC company in Virginia and
(10:15):
they're using AI you know, to help fill in the
gaps for them on some of the back end pieces
so that they can actually focus on, you know, doing
the actual work of age backwork and helping them compete
with some of the larger guys and so, you know,
so I think at this point right now, from a
small business perspective, we're seeing a net positive. But you know,
(10:37):
I think that's also important for us to know and
goes back to, you know, having to have a much
more strategic vision for how we are educating about small
visits or about the education about the use of AI
and the economy, because this is the tool that's going
to be required for basically every job going forward to
some extent, and it's just degrees of how much and
(10:59):
people are going to be having to use it, but
it is going to be a skill that is going
to be necessary for marketing yourself as you're in the
job market.
Speaker 1 (11:07):
I couldn't agree more.
Speaker 2 (11:08):
Folks, you can check out the report that is linked
on my blog at Rosscomminsky dot com. That will probably
be the easiest way to find it. It is entitled
the Impact of Technology on US Small Business.
Speaker 1 (11:21):
It's from the US Chamber of Commerce.
Speaker 2 (11:23):
Their website is US Chamber dot com and again this
is all linked on my blog. Jordan Crenshaw is SVP,
Senior Vice President of the US Chamber of Commerce Technology
Engagement Center.
Speaker 1 (11:32):
Thanks for your time, Jordan, really interesting research.
Speaker 3 (11:36):
Ross is a pleasure to talking with you, and if
you want to learn more, you can actually visit us
at us Chamber dot com as well. But it was
great connecting to that
Speaker 1 (11:43):
All right, Thank you, Jordan, appreciate it.
All right, let's do something different.
Speaker 2 (00:02):
I'm pleased to be joined on the show by Jordan Crenshaw.
Jordan is senior vice president at the US Chamber of
Commerce Technology Engagement Center, and we're going to talk a
little bit about business and AI. Obviously, AI is an
enormous part of so many conversations these days. The US
Chamber of Commerce has a new report out and I'm
(00:23):
looking at it right now. It's ninety six pages long,
Empowering Small Business, the Impact of Technology.
Speaker 1 (00:30):
On US small Business.
Speaker 2 (00:31):
It's not all about AI, but AI is a key
part and an interesting part.
Speaker 1 (00:35):
So Jordan, welcome to KOA, Thanks for being.
Speaker 3 (00:38):
Here, Ross, thanks for having me. It's great to be on.
Speaker 2 (00:41):
So I'm going to start with a macro kind of
framework and then you can just add in whatever you
want to add in and take it wherever you want
to take it. So, on the one hand, I believe
that AI is going to be massively transformational to almost
any to any part of societ where it could apply,
it will apply, and it's going to change a lot
(01:04):
of things.
Speaker 1 (01:06):
On the other hand, and actually I shouldn't.
Speaker 2 (01:08):
Say on the other hand, because that statement is true
in my opinion, what we've seen so far, I think
is that businesses, many businesses have been struggling with the
integration of AI into their daily business operations, trying to
figure out how to make it work, trying to figure
(01:29):
out how to get their employees to adapt to using
it or to adopt it, and it seems like in
these early days it's at least a little bit bumpy.
So that's just more of a statement than a question.
Why don't you tell us just take it wherever you
want to take it, whatever you think we need to know.
Speaker 1 (01:45):
And what your report talks about.
Speaker 3 (01:48):
Well I couldn't agree with you more that AI is
going to be transformational. It already is. In fact. You know,
what we found in our report is that small businesses
that are embracing AI are thriving. And what we also
found in our report is that small businesses are actually
pretty inventive and about sixteen percent of them, which is
(02:09):
a record for this report. Are you actually using generative AI? Now?
A great example as a company called Friction Labs in
the Denver area, and they're using AI to solve machine
problems and cut down on research time and they're able
to solve solutions in a matter of hours as opposed
(02:30):
to weeks like they would have had prior to AI,
And so I think what we're really finding is that
this is transforming smaller businesses in a way that they're
able to compete. One other thing we looked at in
the report I think was really fascinating as well for
the first time is crypto. And we also found that
(02:50):
one third of small businesses in Colorado are using some
form of cryptocurrency, and that's for things like you know,
paying vendors or rereading loyalty programs with crypto. So some
really innovative things we're looking at right now as well
in terms of that space.
Speaker 2 (03:07):
Okay, so it sounds like you, it sounds like you
think that these the somewhat pessimistic take that I had
been reading is too pessimistic, and.
Speaker 1 (03:16):
That AI is being well.
Speaker 2 (03:19):
Used in businesses more than I had been led to
believe by some of these articles I was reading.
Speaker 3 (03:25):
Right, Yeah, I mean, I think in terms of the
small business side here is that we're finding that AI
is really a force multiplier and small businesses are waking
up to this. And these are companies that don't have
the same resources from a time standpoint or a financial
standpoint is larger companies and they're really able to innovate
(03:47):
an experiment here. And some of the really interesting ways
we're seeing this happen right now are they're streamlining things
like advertising and marketing. I talked to a coffee shop
owner who has used artificial intelligence to cut his marketing
time down by seventy percent. We've actually focused on the
front of the house and not at the back of
the house and working with customers and really fine tuning
(04:08):
the product. We're also seeing some example that you know,
I talked to one skincare product company. It's two women
out of southern California who were actually running a skincare
product line where they're actually using generative AI to source
alternative locations for products as part of their skincare products
from places that are being hit less by tariffs or
(04:31):
inflation to help from passing on costs to consumers. And
you know, we also have even seen design of products
being used with AI. There's a great small business owner,
a gentleman named Adam who owned Soda Pop in Colorado,
who actually was using AI to help design his his
(04:52):
his pet toways that he's selling in his business and
and So what we're finding here is that that AI
is working for the small businesses that are using it.
In fact, eighty two percent of small businesses nationwide have
reported and these are amongst the ones using it. I've
actually had increased employment and hiring over the last year.
Speaker 1 (05:12):
And so that's let me just jump in for a
second year.
Speaker 2 (05:16):
So that's where I want to go next, because I
think there's been a lot and maybe too much, even
though it's a legitimate issue, focus on the jobs AI
is going to kill, and it definitely will kill a
lot of certain jobs, and I think there has not
(05:37):
been enough focus on the jobs that AI might create,
either a new kind of job, or as you were
just describing, maybe there's a business that has some amount
of revenue and they're able to lay off somebody in
the back office who's doing paperwork. You know, maybe they've
(05:58):
got maybe they've got two employees, but with AI, now
they only need one and they can take that money
and hire somebody else who's customer facing or generating revenue
or doing some other thing.
Speaker 1 (06:10):
So I'm curious whether you are seeing AI.
Speaker 2 (06:14):
So far being a net destroyer of jobs, a net
creator of jobs, or somewhere kind of breaking even at
this point.
Speaker 3 (06:23):
So where we view this is simply that with any
technological revolution, we are going to see changes in the
job market, regardless when it comes to AI. As I mentioned,
you know, on the small business side of the house,
this is where we're really optimistic that we're going to
see new jobs created because we're going to have entrepreneurship
(06:45):
blossom as a result of AI. And so, but also
the other piece of the puzzle here is, you know,
there's a lot of economic growth to be expected, just
more on a macro level out of the use of
artificial intelligence, and with that it's going to come job growth.
Now at this point, right now, you know, I think
(07:07):
you know, we've seen a lot of projections. You know,
dune state scenario is projected, and we haven't really seen that.
But we also think it's critically important too that we
have you know, a well prepared workforce in place that
can be ready for the AI revolution. And and and
that's why it's so critically important that you know, for example,
(07:30):
through K through twelve curriculum and in college curriculum, that
AI is built in as part of in a disciplinary
part of education and not a replacement for education. And
it's also important as well that we have local chambers,
community colleges, and even US as the US Chamber working
to help train current employees and current small business owners
(07:54):
on how to use AI. I mean, one of the examples,
I would say the glave Gy and he leads a
coffee company in San Francisco who is dealing with a
lot of economic headwinds, but he said AI has really
helped him compete and cut down in his marketing time
by about seventy percent. He's actually he has an innovation
day for his employees every week for about an hour
(08:16):
for he brings us baristas together and works and educates
them on on how to use AI, whether or not
it's for the company itself or better for them for
later on in the future as well.
Speaker 1 (08:28):
And so are you. I mean, it's going to be
important that we.
Speaker 3 (08:31):
Get folks educated and ready to use this as we
move forward.
Speaker 2 (08:36):
Right, So, but just again specifically to my question, and
I guess here there probably is, as you've implied a
couple of times, and I think you're right, there could
be some fairly significant differences in how a small business
in a great AI versus how a large business in
a great AI for a for a variety of reasons.
A listener just texted, and we're using AI in the
(08:57):
office for our HVAC company. Of course, it'll never replace
what actually happens in the field, but it seems to
be working out pretty well in the office, which which,
by the way, is part of the reason that I
think a lot of like there's waiting lists now to
go to trade schools, to go into hvac.
Speaker 1 (09:12):
And to go into you know, all this stuff, because.
Speaker 2 (09:14):
I do think there are a lot of people who
feel like who feel afraid of what if I choose
a profession that ends up being outsourced to AI and
then I've lost these you know, years of education or whatever.
So maybe I should go into something where I you know,
where I don't have that risk And also, as a
(09:36):
kind of a separate calculation, don't have to pay for
four years of four years of college. But just specifically,
what are you seeing so far as the net effect
of AI on employment in small business positive, negative, neutral,
or just too hard to tell?
Speaker 3 (09:52):
We're at this point we're seeing given the numbers, a
positive a number. For given the fact that the majority
of small business owners are using Jedder AI, and the
vast majority of those businesses have reported increase hiring. I
think we're seeing a net positive on that side of
the house. I think it's a great example. You mentioned
about the HVAC company. Well, I actually had a chance
to chat with a small HVAC company in Virginia and
(10:15):
they're using AI you know, to help fill in the
gaps for them on some of the back end pieces
so that they can actually focus on, you know, doing
the actual work of age backwork and helping them compete
with some of the larger guys and so, you know,
so I think at this point right now, from a
small business perspective, we're seeing a net positive. But you know,
(10:37):
I think that's also important for us to know and
goes back to, you know, having to have a much
more strategic vision for how we are educating about small
visits or about the education about the use of AI
and the economy, because this is the tool that's going
to be required for basically every job going forward to
some extent, and it's just degrees of how much and
(10:59):
people are going to be having to use it, but
it is going to be a skill that is going
to be necessary for marketing yourself as you're in the
job market.
Speaker 1 (11:07):
I couldn't agree more.
Speaker 2 (11:08):
Folks, you can check out the report that is linked
on my blog at Rosscomminsky dot com. That will probably
be the easiest way to find it. It is entitled
the Impact of Technology on US Small Business.
Speaker 1 (11:21):
It's from the US Chamber of Commerce.
Speaker 2 (11:23):
Their website is US Chamber dot com and again this
is all linked on my blog. Jordan Crenshaw is SVP,
Senior Vice President of the US Chamber of Commerce Technology
Engagement Center.
Speaker 1 (11:32):
Thanks for your time, Jordan, really interesting research.
Speaker 3 (11:36):
Ross is a pleasure to talking with you, and if
you want to learn more, you can actually visit us
at us Chamber dot com as well. But it was
great connecting to that
Speaker 1 (11:43):
All right, Thank you, Jordan, appreciate it.
The Ross Kaminsky Show News
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