In a world where artificial intelligence is taking center stage, transforming industries and redefining possibilities. The buzz surrounding AI is unmistakable, capturing headlines and imagination alike. But beyond the hype, how exactly is AI shaping the trajectory of businesses, especially those at the heart of our economy – small and medium businesses (SMBs)?
In June 2023, SMB Group conducted an in-depth survey of 744 small (1 to 99 employees), medium (100 to 999 employees), and midmarket (1,000 to 2,500 employees) business decision-makers and influencers from across a diverse range of industries about AI. We’re excited to introduce our latest SMB Group eBook, “The Impact of AI on SMBs, Part One: SMBs Embrace the Future” (sponsored by Dell Technologies and Sage), which shares survey findings regarding their interest, sentiments, and use and plans for AI.
SMB Interest in Generative AI is Strong and Rising
The survey findings reveal that just over half of respondents are very interested in generative AI, and an additional one-third are somewhat interested. Even in smaller businesses, the allure of AI is notable, with 40% of respondents in companies with 1 to 49 employees expressing interest in AI.
Generative AI has become a democratizing force, enabling even those with limited technical know-how to easily explore its capabilities. Survey findings reveal that 55% of respondents are exploring generative AI, and an additional 20% plan to do so soon.
AI’s Current and Future Role in SMB
The survey provides an in-depth view of how SMBs are using and planning to use AI in their businesses. Key highlights detailed in the eBook include:
- Two-thirds of SMBs say it’s important that vendors provide AI capabilities in their solutions.
- Almost half of SMBs are currently using AI: Just over one-quarter are currently using AI to help with actual business tasks, while just under one-quarter are using AI in an experimental way. About one-third are considering using it.
- Current use of and plans for AI correlate closely with company size.
- AI has already found its way into many facets of SMB operations. The areas where they are most likely to be using AI today include IT management and support, marketing, and customer service.
- Three-quarters believe that AI will have an impact on their businesses in two years.
These are just a few of the key findings. Discover more insights in the eBook, which shares many trends regarding SMB interest in and use of AI, and the impacts they believe it will have on their businesses.
Coming Soon: The Impact of AI on SMBs Part Two: SMB Trust, Readiness, and Safeguards
Our companion eBook, Impact of AI on SMBs Part Two: SMB Trust, Readiness, and Safeguards, delves into SMBs’ trust in using AI, AI knowledge, and skills; how they plan to build them: and the checks and balances they want to ensure they can use AI safely and effectively. Check the SMB Group website for availability.
SMB Group provides technology vendors with complete research results, advisory, and content services to help drive successful strategies to engage with SMBs. If you’d like to learn more about these services, and how we can help support your path forward, please contact Lisa Lincoln, Director of Client Services at lisa.lincoln70@smb-gr.com.
© SMB Group 2023