More than four in 10 Australian small and medium businesses are using artificial intelligence tools, and a further 14% are planning to adopt them, with property services, finance and insurance, and business services sectors leading adoption, according to a Tuesday report by National Australia Bank (ASX:NAB).

The bank said businesses operating in industries that handle large volumes of data are leading the way, with property services at 69%, finance and insurance services at 64%, and business services at 61%.

NAB said 35% of businesses see automation as the biggest opportunity for AI, while 44% report they are not currently using AI, but almost every internet-enabled workplace will have some exposure through everyday tasks such as internet searches or drafting emails.