For its 50th annual Montana Economic Outlook seminars, the University of Montana's Bureau of Business & Economic Research (BBER) is touring the state, analyzing trends in the economy. The BBER works to analyze trends in the economy compared to previous years.
The major theme of this year’s seminar is Generative AI and how Montana businesses can leverage it to grow.
BBER says embracing artificial intelligence, or AI, in the Treasure State can potentially help with job growth by increasing recruitment and retention of employees.
“Whether it's in sales and marketing, whether it's in HR, whether it's in legal work, we're seeing AI being adopted by businesses and having real significant impacts in terms of efficiency, but also in terms of creating new capabilities,” Gladen explained.
Jeff Michael, director of BBER, said AI can essentially be an “extra member of the team” to help with the more mundane or repetitive work tasks, allowing the employees to focus more on the client, creativity, and growth of the business.
“[There are] already many Montana businesses using AI technologies to help them become more efficient; we're going to see more and more of that [in 2025],” said Michael.
Montana is a state with many small businesses, some having only 2-3 or even 1 employee. BBER believes AI can help with the growth and success of those businesses by answering questions, completing small tasks, and organizing the business.
Gladen added, “It's really going to create a shift in how we work. As employers, as business owners, I think they need to be thinking about how they are equipping their employees, both to use AI and to understand how their jobs may change. But in our view, I think they may change for the better.”
BBER also addressed the concern many people have of ‘will AI replace me in my job?’ Gladen said the only reason one would lose their job, is if someone who is already equipped with the skills to use AI comes in and takes over.
The goal is for both, employers and employees, to be learning these skills of using and understanding AI to remain in sync with their business’ growth.