Canadian entrepreneurs think AI will save $2,600 and 260 hours of work annually, GoDaddy survey reveals

GoDaddy Airotm uses AI to help small business owners save time and money and attract new customers

• New survey from GoDaddy has revealed that despite most Canadian entrepreneurs believing that AI can save them time and money, only one in five have used it for business tasks.
• On average, small business owners expect to save $2,600 and 260 hours each year using AI.
• GoDaddy Airotm aims to make using generative AI easy and fast for busy small business owners

TORONTO, Feb. 26, 2024 /CNW/ -- 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

To help new and existing small businesses easily take advantage of generative AI, GoDaddy just launched GoDaddy Airotm in Canada and the U.S. an AI-powered solution designed to help them save time and attract new customers.

If someone has an inkling of an idea, GoDaddy Airotm can recommend catchy domain name options with just a description of their business. Seconds after registering a domain, GoDaddy Airotm instantly starts generating content for the business, including: 

• Unique, eye-catching logo designs that can be easily customized to fit the business.
• A fully built website with imagery and content designed to help the business engage and attract customers.
• A professional email account that strengthens the credibility and prestige of the business.
• By simply uploading a product photo, an auto-generated custom product description is created for an online store.

If a new or existing business wants to grow, it can quickly get plans and recommendations through GoDaddy Airotm features in seconds, including: 

• Comprehensive email marketing campaigns with suggested content and imagery.
• Social media calendar with recommendations of when to ideally post.
• Compelling social media and search engine ads to bring traffic to the business's website.

"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. "That's about to change."

Ways to Learn More 

See everything GoDaddy is doing when it comes to generative AI by visiting: https://www.godaddy.com/en-ca/offers/airo

Small businesses interested in more information can learn from and interact live with Laka Sriram, GoDaddy VP of AI and the leader of design and development of GoDaddy Airotm, during an upcoming Livestream Q&A.  

About the Survey

An online survey was conducted between January 15 and 22, 2024, using an online business panel. Small Business (100 employees and under) owners, Side Hustle entrepreneurs, and Solopreneurs (one individual) were among the 504 total respondents in Canada who participated in the survey.

About GoDaddy

GoDaddy helps millions of entrepreneurs globally start, grow, and scale their businesses. People come to GoDaddy to name their idea, build a professional website, attract customers, sell their products and services, and accept payments online and in-person. GoDaddy's easy-to-use tools help microbusiness owners manage everything in one place and its expert guides are available to provide assistance 24/7. To learn more about the company, visit www.GoDaddy.com.

SOURCE GoDaddy Inc.

SOURCE GoDaddy