NAB’s latest SME Business Insights report presents research based on a survey of around 670 non‑farm businesses. They find 42% of firms are already using AI, 44% are not, and a further 14% plan to adopt it.
The landscape is now roughly balanced among firms that already use AI and those that do not, indicating to an economy in transition.
Data‑heavy sectors are setting the trajectory. Property services businesses indicate a 69% AI adoption rate, preceded by finance and insurance at 64% and business services at 61%.
These industries generally have a stronger digital foundations and large data sets, making it easier to embed AI for forecasting, compliance, and workflow automation – all factors which support cash flow and serviceability for business owners with home or investment loans.
When asked where AI could help most, over a third of SMEs indicated to automation of repetitive work, with roughly a third also highlighting marketing and sales‑related gains.
Improving decision‑making and customer experience also score highly, while a significant number of firms still believe AI will not assist their business, underlining ongoing scepticism and capability gaps.
NAB Economics’ case studies illustrate how this is playing out on the ground. Melbourne interior design and property services firm Design and Diplomacy incorporate AI to summarise complex documents, extract key risks and draft proposals.
“A productivity and thinking accelerator – not a substitute for professional judgement.”
Tim Gauci, Director, Design & Diplomacy
Dean adds that the real uplift will come as capability spreads beyond early adopters.
While property services, finance, and professional services are striving ahead, sectors such as transport and storage and retail are behind, often constrained by tight margins, legacy systems, and lower digital maturity.
NAB’s case study of manufacturer Bella Manufacturing illustrates the upside. Director Andrew Blair mentions AI is helping shrink ‘boring, mundane tasks’ so he can put his focus on customers and operations, after initially hearing only ‘horror stories’ about the technology.
“AI is quickly becoming part of the everyday toolkit for Australian businesses, but we’re still in the early chapters of what it can deliver.”
Dean Pearson, Head of Behavioural and Industry Economics, NAB
As AI tools become more frequent in SME operations, brokers who understand which industries are using them – and how that relates into cash‑flow management and risk – will be better placed to structure funding solutions for business owners. That insight will also assist when advising first‑home buyers and property investors whose income depends on SME performance.
As AI tools become more visible to consumers as well as SMEs, separate research from Great Southern Bank reports that 69% of Australians who receive guidance from mortgage brokers or financial advisers consider that advice more valuable than AI, and only one in ten mention they would turn to AI first for major financial decisions.
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