Small Businesses Embrace AI Tools to Boost Productivity and Competitiveness
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7 Sources
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98% of small firms are using AI tools to 'punch above their weight'
Small businesses are looking to artificial intelligence to gain a competitive edge - and they're succeeding, according to a US Chamber of Commerce survey. Artificial intelligence (AI) is transforming the way many businesses advance technology in the workplace. Case in point: Open AI's ChatGPT now has more than 1 million business users. And some smaller businesses are finding real value in AI implementation. The US Chamber of Commerce conducted a nationwide survey of US small businesses which reveals that 98% of small firms use at least one technology platform enabled by AI. Also, 40% are using generative AI (gen AI) tools, nearly double from last year's 23%. Also: What is digital transformation? Everything you need to know about how technology is changing business "AI allows small businesses -- who many times do not have the staff or resources of their competitors -- to punch above their weight," explained Jordan Crenshaw, senior vice president of the US Chamber's Technology Engagement Center. "It's encouraging to see small businesses embrace technology and express optimism for the future as these platforms serve as a catalyst for innovation and resilience." The survey examines the role that technology platforms play in helping small businesses compete in the marketplace. Piloted in 2022, this nationwide survey explores the various "types and applications of technology used by small businesses" to delineate which have had the most impact over time. The survey's latest edition focuses on the rapid emergence of AI and the technology's deployment by small businesses. The results extrapolated from the survey found that "91% of businesses actively using AI say it will help their business grow in the future, and 81% of small businesses plan to increase their use of technology platforms." According to the report, "technology use is linked to growth among small businesses." Many small businesses that deployed technology platforms (such as productivity tools, digital payment, and accounting software) are "more likely to have experienced growth in sales and profits over the past year as well as an increase in their workforce." Furthermore, the survey notes, businesses that become better versed in multiple tech platforms are realizing growth ahead of lower-tech firms. Also: Your doctor might be using AI to answer your questions - here's how that works "While we see year-over-year improvement in the share of small businesses that are growing across the three key performance indicators of sales, profits, and employment, for the third year in a row companies that are utilizing a wide range of technologies are more likely to be growing than their non-tech-enabled peers," the report states. "When implemented thoughtfully, AI can drive major efficiencies, AI won't replace human work but will augment and lift it," said Amanda Reineke, CEO of Notice Ninja, a digital compliance company.
[2]
Almost all small businesses are using a software tool that is enabled by AI
NEW YORK -- As the use of artificial intelligence is expands, more small firms say they're harnessing AI to help their businesses. In a survey by The U.S. Chamber of Commerce and Teneo, nearly every small business -- 98% -- said they are utilizing a tool that is enabled by AI. Forty percent said they're using generative AI tools like chatbots and image creation, nearly double from last year's survey. Small business owners say finding the right AI tools helps them save on personnel costs and frees up time. But they also stress that human oversight is still a necessity. "AI allows small businesses -- who many times do not have the staff or resources of their competitors -- to punch above their weight," said Jordan Crenshaw, senior vice president of the U.S. Chamber's Technology Engagement Center. "It's encouraging to see small businesses embrace technology and express optimism for the future as these platforms serve as a catalyst for innovation and resilience." Randy Speckman, who owns San Diego-based web design agency Randy Speckman Design with seven staffers, found the right AI tool for his business by trial and error. He tried a few tools that didn't provide high enough quality copy before settling on tools including Conversion.ai and Copy.ai to generate blog posts, email newsletters and social media content. The tools save Speckman's staff a lot of time while allowing for a consistent volume of higher quality content. The improvement in production means he hasn't had to hire more writers. "The only downside is needing to review and tweak the AI's initial drafts," Speckman said. The survey also found that 91% of small businesses using AI say it will help their business grow in the future. Seventy-seven percent of small business owners said they plan to adopt emerging technologies, including AI and metaverse. Amanda Reineke owns Notice Ninja, a digital compliance company that helps tax professionals automate their incoming tax notices in Phoenix, Arizona, with 15 employees. Her company built an AI-powered platform that scans and captures data from tax notices, then automatically routes each notice to the right department and person to handle it. "When implemented thoughtfully by domain experts, (AI) can drive major efficiencies," she said. "AI won't replace human work, but will augment and lift it." The survey found more businesses are using technology platforms in general. Forty-seven percent of business owners surveyed said they use four or more technology platforms -- up from 39% last year -- and more than a quarter said they use six or more technology platforms. Jan Watermann, owner of marketing agency Waterman Consulting in St. Petersburg, Florida, uses AI tools such as Jasper AI and SurferSEO. "Jasper helps us quickly generate blog posts, ad copy, and other written content, while SurferSEO ensures it's optimized for search engines," Watermann said. Watermann says that for all its promise, AI still needs human oversight. "It's great for efficiency but still requires human creativity and strategy to get the best results," he said.
[3]
Almost all small businesses are using a software tool that is enabled by AI
NEW YORK (AP) -- As the use of artificial intelligence is expands, more small firms say they're harnessing AI to help their businesses. In a survey by The U.S. Chamber of Commerce and Teneo, nearly every small business -- 98% -- said they are utilizing a tool that is enabled by AI. Forty percent said they're using generative AI tools like chatbots and image creation, nearly double from last year's survey. Small business owners say finding the right AI tools helps them save on personnel costs and frees up time. But they also stress that human oversight is still a necessity. "AI allows small businesses -- who many times do not have the staff or resources of their competitors -- to punch above their weight," said Jordan Crenshaw, senior vice president of the U.S. Chamber's Technology Engagement Center. "It's encouraging to see small businesses embrace technology and express optimism for the future as these platforms serve as a catalyst for innovation and resilience." Randy Speckman, who owns San Diego-based web design agency Randy Speckman Design with seven staffers, found the right AI tool for his business by trial and error. He tried a few tools that didn't provide high enough quality copy before settling on tools including Conversion.ai and Copy.ai to generate blog posts, email newsletters and social media content. The tools save Speckman's staff a lot of time while allowing for a consistent volume of higher quality content. The improvement in production means he hasn't had to hire more writers. "The only downside is needing to review and tweak the AI's initial drafts," Speckman said. The survey also found that 91% of small businesses using AI say it will help their business grow in the future. Seventy-seven percent of small business owners said they plan to adopt emerging technologies, including AI and metaverse. Amanda Reineke owns Notice Ninja, a digital compliance company that helps tax professionals automate their incoming tax notices in Phoenix, Arizona, with 15 employees. Her company built an AI-powered platform that scans and captures data from tax notices, then automatically routes each notice to the right department and person to handle it. "When implemented thoughtfully by domain experts, (AI) can drive major efficiencies," she said. "AI won't replace human work, but will augment and lift it." The survey found more businesses are using technology platforms in general. Forty-seven percent of business owners surveyed said they use four or more technology platforms -- up from 39% last year -- and more than a quarter said they use six or more technology platforms. Jan Watermann, owner of marketing agency Waterman Consulting in St. Petersburg, Florida, uses AI tools such as Jasper AI and SurferSEO. "Jasper helps us quickly generate blog posts, ad copy, and other written content, while SurferSEO ensures it's optimized for search engines," Watermann said. Watermann says that for all its promise, AI still needs human oversight. "It's great for efficiency but still requires human creativity and strategy to get the best results," he said.
[4]
Almost all small businesses are using a software tool that is enabled by AI
NEW YORK (AP) -- As the use of artificial intelligence is expands, more small firms say they're harnessing AI to help their businesses. In a survey by The U.S. Chamber of Commerce and Teneo, nearly every small business -- 98% -- said they are utilizing a tool that is enabled by AI. Forty percent said they're using generative AI tools like chatbots and image creation, nearly double from last year's survey. Small business owners say finding the right AI tools helps them save on personnel costs and frees up time. But they also stress that human oversight is still a necessity. "AI allows small businesses -- who many times do not have the staff or resources of their competitors -- to punch above their weight," said Jordan Crenshaw, senior vice president of the U.S. Chamber's Technology Engagement Center. "It's encouraging to see small businesses embrace technology and express optimism for the future as these platforms serve as a catalyst for innovation and resilience." Randy Speckman, who owns San Diego-based web design agency Randy Speckman Design with seven staffers, found the right AI tool for his business by trial and error. He tried a few tools that didn't provide high enough quality copy before settling on tools including Conversion.ai and Copy.ai to generate blog posts, email newsletters and social media content. The tools save Speckman's staff a lot of time while allowing for a consistent volume of higher quality content. The improvement in production means he hasn't had to hire more writers. "The only downside is needing to review and tweak the AI's initial drafts," Speckman said. The survey also found that 91% of small businesses using AI say it will help their business grow in the future. Seventy-seven percent of small business owners said they plan to adopt emerging technologies, including AI and metaverse. Amanda Reineke owns Notice Ninja, a digital compliance company that helps tax professionals automate their incoming tax notices in Phoenix, Arizona, with 15 employees. Her company built an AI-powered platform that scans and captures data from tax notices, then automatically routes each notice to the right department and person to handle it. "When implemented thoughtfully by domain experts, (AI) can drive major efficiencies," she said. "AI won't replace human work, but will augment and lift it." The survey found more businesses are using technology platforms in general. Forty-seven percent of business owners surveyed said they use four or more technology platforms -- up from 39% last year -- and more than a quarter said they use six or more technology platforms. Jan Watermann, owner of marketing agency Waterman Consulting in St. Petersburg, Florida, uses AI tools such as Jasper AI and SurferSEO. "Jasper helps us quickly generate blog posts, ad copy, and other written content, while SurferSEO ensures it's optimized for search engines," Watermann said. Watermann says that for all its promise, AI still needs human oversight. "It's great for efficiency but still requires human creativity and strategy to get the best results," he said.
[5]
Almost all small businesses are using a software tool that is enabled by AI
Small business owners say finding the right AI tools helps them save on personnel costs and frees up time. But they also stress that human oversight is still a necessity.As the use of artificial intelligence is expands, more small firms say they're harnessing AI to help their businesses. In a survey by The U.S. Chamber of Commerce and Teneo, nearly every small business - 98% - said they are utilizing a tool that is enabled by AI. Forty percent said they're using generative AI tools like chatbots and image creation, nearly double from last year's survey. Small business owners say finding the right AI tools helps them save on personnel costs and frees up time. But they also stress that human oversight is still a necessity. "AI allows small businesses - who many times do not have the staff or resources of their competitors - to punch above their weight," said Jordan Crenshaw, senior vice president of the U.S. Chamber's Technology Engagement Center. "It's encouraging to see small businesses embrace technology and express optimism for the future as these platforms serve as a catalyst for innovation and resilience." Randy Speckman, who owns San Diego-based web design agency Randy Speckman Design with seven staffers, found the right AI tool for his business by trial and error. He tried a few tools that didn't provide high enough quality copy before settling on tools including Conversion.ai and Copy.ai to generate blog posts, email newsletters and social media content. The tools save Speckman's staff a lot of time while allowing for a consistent volume of higher quality content. The improvement in production means he hasn't had to hire more writers. "The only downside is needing to review and tweak the AI's initial drafts," Speckman said. The survey also found that 91% of small businesses using AI say it will help their business grow in the future. Seventy-seven percent of small business owners said they plan to adopt emerging technologies, including AI and metaverse. Amanda Reineke owns Notice Ninja, a digital compliance company that helps tax professionals automate their incoming tax notices in Phoenix, Arizona, with 15 employees. Her company built an AI-powered platform that scans and captures data from tax notices, then automatically routes each notice to the right department and person to handle it. "When implemented thoughtfully by domain experts, (AI) can drive major efficiencies," she said. "AI won't replace human work, but will augment and lift it." The survey found more businesses are using technology platforms in general. Forty-seven percent of business owners surveyed said they use four or more technology platforms - up from 39% last year - and more than a quarter said they use six or more technology platforms. Jan Watermann, owner of marketing agency Waterman Consulting in St. Petersburg, Florida, uses AI tools such as Jasper AI and SurferSEO. "Jasper helps us quickly generate blog posts, ad copy, and other written content, while SurferSEO ensures it's optimized for search engines," Watermann said. Watermann says that for all its promise, AI still needs human oversight. "It's great for efficiency but still requires human creativity and strategy to get the best results," he said.
[6]
Almost All Small Businesses Are Using a Software Tool That Is Enabled by AI
NEW YORK (AP) -- As the use of artificial intelligence is expands, more small firms say they're harnessing AI to help their businesses. In a survey by The U.S. Chamber of Commerce and Teneo, nearly every small business -- 98% -- said they are utilizing a tool that is enabled by AI. Forty percent said they're using generative AI tools like chatbots and image creation, nearly double from last year's survey. Small business owners say finding the right AI tools helps them save on personnel costs and frees up time. But they also stress that human oversight is still a necessity. "AI allows small businesses -- who many times do not have the staff or resources of their competitors -- to punch above their weight," said Jordan Crenshaw, senior vice president of the U.S. Chamber's Technology Engagement Center. "It's encouraging to see small businesses embrace technology and express optimism for the future as these platforms serve as a catalyst for innovation and resilience." Randy Speckman, who owns San Diego-based web design agency Randy Speckman Design with seven staffers, found the right AI tool for his business by trial and error. He tried a few tools that didn't provide high enough quality copy before settling on tools including Conversion.ai and Copy.ai to generate blog posts, email newsletters and social media content. The tools save Speckman's staff a lot of time while allowing for a consistent volume of higher quality content. The improvement in production means he hasn't had to hire more writers. "The only downside is needing to review and tweak the AI's initial drafts," Speckman said. The survey also found that 91% of small businesses using AI say it will help their business grow in the future. Seventy-seven percent of small business owners said they plan to adopt emerging technologies, including AI and metaverse. Amanda Reineke owns Notice Ninja, a digital compliance company that helps tax professionals automate their incoming tax notices in Phoenix, Arizona, with 15 employees. Her company built an AI-powered platform that scans and captures data from tax notices, then automatically routes each notice to the right department and person to handle it. "When implemented thoughtfully by domain experts, (AI) can drive major efficiencies," she said. "AI won't replace human work, but will augment and lift it." The survey found more businesses are using technology platforms in general. Forty-seven percent of business owners surveyed said they use four or more technology platforms -- up from 39% last year -- and more than a quarter said they use six or more technology platforms. Jan Watermann, owner of marketing agency Waterman Consulting in St. Petersburg, Florida, uses AI tools such as Jasper AI and SurferSEO. "Jasper helps us quickly generate blog posts, ad copy, and other written content, while SurferSEO ensures it's optimized for search engines," Watermann said. Watermann says that for all its promise, AI still needs human oversight. "It's great for efficiency but still requires human creativity and strategy to get the best results," he said. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
[7]
Almost all small businesses are using a software tool that is enabled by AI
Small business owners say finding the right AI tools helps them save on personnel costs and frees up time. But they also stress that human oversight is still a necessity. As the use of artificial intelligence is expands, more small firms say they're harnessing AI to help their businesses. In a survey by The U.S. Chamber of Commerce and Teneo, nearly every small business -- 98% -- said they are utilizing a tool that is enabled by AI. Forty percent said they're using generative AI tools like chatbots and image creation, nearly double from last year's survey. Small business owners say finding the right AI tools helps them save on personnel costs and frees up time. But they also stress that human oversight is still a necessity. "AI allows small businesses -- who many times do not have the staff or resources of their competitors -- to punch above their weight," said Jordan Crenshaw, senior vice president of the U.S. Chamber's Technology Engagement Center. "It's encouraging to see small businesses embrace technology and express optimism for the future as these platforms serve as a catalyst for innovation and resilience." Randy Speckman, who owns San Diego-based web design agency Randy Speckman Design with seven staffers, found the right AI tool for his business by trial and error. He tried a few tools that didn't provide high enough quality copy before settling on tools including Conversion.ai and Copy.ai to generate blog posts, email newsletters and social media content. The tools save Speckman's staff a lot of time while allowing for a consistent volume of higher quality content. The improvement in production means he hasn't had to hire more writers. "The only downside is needing to review and tweak the AI's initial drafts," Speckman said. The survey also found that 91% of small businesses using AI say it will help their business grow in the future. Seventy-seven percent of small business owners said they plan to adopt emerging technologies, including AI and metaverse. Amanda Reineke owns Notice Ninja, a digital compliance company that helps tax professionals automate their incoming tax notices in Phoenix, Arizona, with 15 employees. Her company built an AI-powered platform that scans and captures data from tax notices, then automatically routes each notice to the right department and person to handle it. "When implemented thoughtfully by domain experts, (AI) can drive major efficiencies," she said. "AI won't replace human work, but will augment and lift it." The survey found more businesses are using technology platforms in general. Forty-seven percent of business owners surveyed said they use four or more technology platforms -- up from 39% last year -- and more than a quarter said they use six or more technology platforms. Jan Watermann, owner of marketing agency Waterman Consulting in St. Petersburg, Florida, uses AI tools such as Jasper AI and SurferSEO. "Jasper helps us quickly generate blog posts, ad copy, and other written content, while SurferSEO ensures it's optimized for search engines," Watermann said. Watermann says that for all its promise, AI still needs human oversight. "It's great for efficiency but still requires human creativity and strategy to get the best results," he said.
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A recent survey reveals that an overwhelming majority of small businesses are leveraging AI-enabled software tools to enhance their operations and compete with larger corporations. This trend highlights the growing importance of AI in the business landscape.
Widespread Adoption of AI Tools by Small Businesses
A recent survey conducted by AI-powered business software maker Vendasta has revealed a surprising trend: 98% of small businesses are now using at least one AI-enabled software tool 1. This widespread adoption of AI technology among smaller enterprises signifies a significant shift in how these businesses operate and compete in today's market.
Types of AI Tools Being Utilized
The AI-enabled tools being employed by small businesses cover a wide range of applications. These include customer relationship management (CRM) software, accounting programs, and email marketing platforms 2. Many of these tools have AI capabilities built-in, often without the users even realizing it.
Benefits and Impact on Small Businesses
The integration of AI tools is allowing small businesses to punch above their weight and compete more effectively with larger corporations. These tools are helping to streamline operations, boost productivity, and enhance decision-making processes 3. For instance, AI-powered email marketing tools can analyze customer data to personalize campaigns, while CRM systems can predict customer behavior and automate follow-ups.
Challenges and Concerns
Despite the high adoption rate, some small business owners express concerns about the rapid advancement of AI technology. There are worries about potential job displacement and the need to adapt to new technologies quickly 4. Additionally, issues related to data privacy and security remain at the forefront of discussions surrounding AI adoption.
Future Outlook
As AI technology continues to evolve, it is expected to play an increasingly crucial role in the operations of small businesses. The trend suggests that AI-enabled tools will become even more sophisticated and accessible, potentially leveling the playing field between small enterprises and larger corporations 5.
Expert Opinions
Industry experts emphasize the importance of small businesses embracing AI technologies to remain competitive. They suggest that while the current adoption rate is high, many businesses may still be underutilizing the full potential of these AI-enabled tools. As awareness grows and the technology becomes more user-friendly, it's anticipated that small businesses will leverage AI capabilities more extensively in their day-to-day operations.
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