UMD Smith School Secures $1M+ Grant to Boost AI Adoption in Small Businesses

Event summary

  • University of Maryland's Robert H. Smith School of Business received $1.031 million in federal funds to help small businesses adopt AI solutions.
  • The grant will support online courses, workshops, and a one-stop shop online portal for AI tools.
  • The initiative is led by Professor Balaji Padmanabhan and Tejwansh Anand, with involvement from Smith students.
  • The program builds on a successful pilot with over 50 small businesses in Prince George's County.
  • The funding will also support research on AI challenges and opportunities for small businesses.

The big picture

The grant underscores the growing emphasis on AI adoption among small businesses, which drive over 40% of U.S. GDP. This initiative aligns with broader trends of democratizing AI access and bridging the digital divide for smaller enterprises. The Smith School's expansion of its AI programs reflects a strategic push to position Maryland as a leader in AI-driven economic growth.

What we're watching

Program Scalability
Whether the Smith School can effectively expand its AI adoption program from Prince George's County to small businesses statewide.
AI Tool Efficacy
The pace at which small businesses will integrate AI tools into their daily operations and the measurable impact on their productivity.
Research Insights
How the research funded by this grant will shed light on the unique challenges small businesses face in adopting AI.

Related topics

Technology