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What do SMBs need from AI?

Leisure and recreation SMBs report the very best use of AI

Some small to medium companies (SMBs) are already fascinated with the ways in which synthetic intelligence could possibly be utilized to their companies, to assist them cope with challenges together with inflation and cybersecurity—however additionally they have various issues, notably 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 probably to be within the leisure and recreation sector, adopted by retail and building/contracting.

Nevertheless, a big proportion of SMBs—35%—say that they’re conscious of how their companies could possibly be supported by AI. That’s a fairly shut cut up with the 40% of SMB decision-makers who mentioned that they don’t understand how AI could possibly be used of their enterprise (12% had no opinion).

When requested the place they’d think about using AI, SMBs indicated the next prime use circumstances the place they weren’t but utilizing, however had been focused on making use of AI:

-Stock administration and provide chain operations: 37%

-Social media/advertising and marketing: 36%

-Services or products suggestions to prospects: 35%

-Information 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 almost half of small and midsize companies are both utilizing or are conscious of the AI-specific use circumstances that may drive their corporations ahead highlights what we hear from our prospects each day concerning their want to remain forward of the tempo of change to drive their enterprise ahead,” mentioned Aparna Khurjekar, Chief Income Officer for enterprise markets and SaaS at Verizon Enterprise.

What are the limitations or issues 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 issues, nonetheless, 37% of SMBs surveyed mentioned that they had been at present exploring the feasibility of AI for his or her enterprise.

Verizon primarily based the evaluation on survey responses from 681 small and midsize companies throughout the US throughout August of this 12 months; the survey was performed by Morning Seek the advice of.

Along with AI, 5G and expertise use, the survey requested SMB decision-makers about their perspective on the economic system, the outlook for his or her enterprise and their present challenges. Among the many greatest 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% mentioned that that they had carried out layoffs, although 33% mentioned that that they had decreased present workers’ hours.

A good proportion of SMBs are already turning to expertise to assist navigate their challenges. Eighteen % of SMBs surveyed mentioned that that they had carried out some form of new expertise system to compensate for a scarcity of workers. Twenty-eight % reported that that they had built-in new expertise or units to assist entice and retain employees, and 27% mentioned 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 presents particular offers, “tech checks” and concentrate on help each in-store and thru its Verizon Small Enterprise Digital Prepared portal, which gives on-line sources together with recommendation, suggestions, programs and grant data for SMBs, and is a part of the corporate’s purpose to help one million small companies as of this 12 months.



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