According to a recent survey, approximately one-third of Latvian entrepreneurs believe that artificial intelligence (AI) will help them work more efficiently in 2023. Specifically, 32% of business owners indicated that they expect AI to improve their productivity, and 18% plan to utilize these technologies to manage the increasing workload without hiring new employees. However, 39% of respondents reported that they have not yet felt the impact of AI on their operations, suggesting that there is still a degree of skepticism or delayed adoption within the business community.

The data from the survey highlight a shift in focus among small and medium-sized enterprises in Latvia, with an emphasis on enhancing productivity rather than replacing labor. Notably, only 6% of surveyed businesses foresee the potential of reducing their workforce due to AI advancements. In contrast, a more optimistic 13% of entrepreneurs plan to invest in retraining and upskilling their staff, viewing the introduction of AI as an opportunity to develop new skills and competencies within their teams. This reflects a proactive approach towards technological change, rather than a reactionary one.

Experts suggest that 2023 could be the year when entrepreneurs and the labor market more profoundly sense the impact of technological changes. As artificial intelligence gradually takes over certain functions within businesses, it may help address challenges such as labor shortages and rising operational costs. The shift towards integrating AI within companies could signal a significant transformation in how work is approached, ultimately leading to greater efficiency and productivity in the long run.