Leisure and recreation SMBs report the very best use of AI
Some small to medium companies (SMBs) are already enthusiastic about the ways in which synthetic intelligence might be utilized to their companies, to assist them cope with challenges together with inflation and cybersecurity—however in addition they have numerous considerations, significantly about safety, in keeping with Verizon’s fourth annual survey of SMBs.
Few SMBs say that they’re already utilizing AI: solely about 14%, in keeping with the survey. Those that are already utilizing AI are most certainly to be within the leisure and recreation sector, adopted by retail and building/contracting.
Nonetheless, a major share of SMBs—35%—say that they’re conscious of how their companies might be supported by AI. That’s a reasonably shut break up with the 40% of SMB decision-makers who stated that they don’t know the way AI might be used of their enterprise (12% had no opinion).
When requested the place they might think about using AI, SMBs indicated the next prime use circumstances the place they weren’t but utilizing, however had been concerned about making use of AI:
-Stock administration and provide chain operations: 37%
-Social media/advertising and marketing: 36%
-Services or products suggestions to prospects: 35%
-Knowledge evaluation: 35%
-Customer support or private digital assistants: 32%.
Total, the usage of AI for social media and/or advertising and marketing was the most well-liked use case, 50% of these surveyed saying that they had been both already utilizing AI in that space (14%) or had been contemplating it (36%).
“The truth that practically half of small and midsize companies are both utilizing or are conscious of the AI-specific use circumstances that may drive their firms ahead highlights what we hear from our prospects day by day concerning their want to remain forward of the tempo of change to drive their enterprise ahead,” stated Aparna Khurjekar, Chief Income Officer for enterprise markets and SaaS at Verizon Enterprise.
What are the limitations or considerations of SMBs as they ponder AI? Practically half of respondents had been anxious about integrating AI options into their enterprise (45%), and barely fewer (43%) had been involved about AI’s potential to open their enterprise to extra cybersecurity dangers. Regardless of these considerations, nevertheless, 37% of SMBs surveyed stated that they had been at present exploring the feasibility of AI for his or her enterprise.
Verizon based mostly the evaluation on survey responses from 681 small and midsize companies throughout the US throughout August of this yr; the survey was carried out by Morning Seek the advice of.
Along with AI, 5G and know-how use, the survey requested SMB decision-makers about their perspective on the financial system, the outlook for his or her enterprise and their present challenges. Among the many largest challenges that SMBs face proper now are associated to each inflationary pressures and their workforce. Practically half of SMBs reported that they had been having bother filling open positions. In distinction, 19% stated that that they had applied layoffs, although 33% stated that that they had lowered present workers’ hours.
A decent share of SMBs are already turning to know-how to assist navigate their challenges. Eighteen % of SMBs surveyed stated that that they had applied some type of new know-how system to compensate for a scarcity of workers. Twenty-eight % reported that that they had built-in new know-how or units to assist appeal to and retain staff, and 27% stated that that they had added instruments for distant collaboration amongst workers.
Verizon launched the survey as a part of its Small Enterprise Days this week, throughout which it affords particular offers, “tech checks” and concentrate on help each in-store and thru its Verizon Small Enterprise Digital Prepared portal, which supplies on-line sources together with recommendation, ideas, programs and grant data for SMBs, and is a part of the corporate’s purpose to help one million small companies as of this yr.
