TLDR: The Federal Reserve Bank of San Francisco, through its EmergingTech Economic Research Network (EERN), recently hosted a webinar on August 12, 2025, focusing on how small businesses are leveraging generative artificial intelligence (GenAI) tools. The discussion highlighted GenAI’s transformative potential for productivity and analysis, while emphasizing the critical need for human oversight.
On August 12, 2025, the Federal Reserve Bank of San Francisco (SF Fed) convened a public webinar as part of its EmergingTech Economic Research Network (EERN) initiative, shedding light on the practical applications of generative artificial intelligence (GenAI) for small businesses. The event, co-hosted in collaboration with the Federal Reserve System Innovation Office and in partnership with the Small Business Development Centers (SBDC) of Alaska and Nevada, aimed to explore how these transformative technologies are influencing the U.S. economy, particularly for the over 99% of U.S. businesses that are small enterprises.
The EERN initiative is dedicated to understanding how emerging technologies like GenAI impact businesses, consumers, and workers, and what this signifies for the future economic landscape. During the webinar, speakers characterized the effect of GenAI tools as ‘transformative,’ noting their accessibility, often featuring ‘low barrier to entry’ and ‘straightforward text-based interfaces.’
Panelists provided concrete examples of how small businesses are integrating GenAI into their operations. For ‘individual productivity,’ GenAI is being used for tasks such as ‘taking and summarizing meeting notes,’ ‘identifying and disseminating follow-up action items from meetings,’ and ‘drafting and editing emails and other written communications.’ In the realm of ‘research and analysis,’ businesses are employing GenAI for ‘market research,’ ‘finding clients and specialized vendors,’ ‘analyzing quantitative data,’ ‘producing figures, charts, and tables,’ and even ‘optimizing construction material ordering and distribution across projects to fit standard transportation modes and minimize waste.’
While acknowledging the significant gains in productivity and capacity, speakers also issued a crucial caution: GenAI is ‘not a standalone “easy button.”’ They underscored the importance of the ‘human in the loop’ concept, stressing that human users must meticulously review all AI-produced content to ensure accuracy and relevance. The recommendation for small businesses considering adoption was to focus on how GenAI can address both ‘routine tasks and pain points’ in their daily work.
Also Read:
- Artificial Intelligence in 2025: A Landscape of Integration, Innovation, and Evolving Challenges
- Generative Engineering: Revolutionizing Software Development for Business Impact
This webinar builds on EERN’s ongoing efforts to provide insights into the evolving relationship between emerging technologies and economic activity, offering valuable guidance for small businesses navigating the rapidly changing digital landscape.
