Author(s): Kuldeep Bhalerao, Anuj Kumar, Arya Kumar and Purvi Pujari
The focus of the study of this paper is to understand the constraints and benefits of AI adoption in SMEs. In today's competitive business world, if SMEs do not upgrade with available technologies, they may lose their competitive position. Researchers have tried to address the issue by exploring questions related challenges and advantages of AI adoption in SMEs. Past research and literature on challenges and barriers to AI application in SMEs were reviewed and found that the factors such as AI technical competencies of human resources, poor financial position, size of the organization, the orientation of promoter of business, awareness of AI benefits, data quality are the foremost challenges and the customized AI technologies assist in improvement in the performance of decision making, acquisition, development, and retention of employees, management of inventory, creation of customer base and understanding of buying behavior and protecting SMEs from cyberattacks.