Artificial intelligence (AI) has proven to have the potential to drive growth and success. We have witnessed how its implementation supports company processes and improves employee productivity and efficiency. And this potential can be exploited by businesses of all sizes.
To understand the use, impact, and adoption of AI in SMBs, we conducted our annual survey of SMBs: AI in SMBs: Trends, Challenges, and Opportunities. The study included Canada, Brazil, Mexico, Colombia, Argentina, Costa Rica, and Puerto Rico. These businesses operate in a variety of industries such as retail, food and beverage, construction, technology and communications.
Some of the most important findings are listed below.
How do small businesses invest in AI?
Investing in AI is one of the top four priorities for companies surveyed, with 33% of companies investing in this technology in 2023 (47% of companies in Brazil have invested). , followed by Canada at 37% and Brazil at 29%). Argentina and Colombia), 71% plan to continue investing or start investing in AI in the next period. Meanwhile, 35% of companies surveyed have allocated a portion of their investment to AI and plan to increase their investment in the coming months.
When it comes to technology budgets allocated to AI, Mexico leads the way at 30%, followed by Brazil and Colombia at 29%, followed by Argentina and Puerto Rico at 26%.
In terms of type of investment, 54% of companies are focused on improving customer service satisfaction (Brazil leads with 61%), followed by business efficiency with 51% (Canada leads with 63%), and keeping up with competition. We are focused on making sure that. 44% (Costa Rica stands out at 64%). This section highlights that Canadian businesses are significantly investing in AI to improve efficiency and creativity, at 63%.
How can small businesses leverage AI?
Our research shows that businesses have positive attitudes toward AI and optimistic expectations about the impact it will have on their business. Thanks to this approach, 78% of SMEs in the countries surveyed are currently considering implementing AI (compared to 90% in Brazil), and 73% of them encourage their employees to use AI. .
Overall, 45% of companies have made significant progress in implementing AI, and this is reflected in how they use AI. A total of 57% of small businesses use it primarily in the form of virtual customer service assistants, followed by saving work time (47%) and generating images and content (36%). The point to highlight is how the primary use of virtual customer service assistants relates to the types of investments made to improve customer service satisfaction in the first place.
How can small businesses benefit from using AI?
The benefits identified from implementing AI focus on improving efficiency and customer service. 68% of SMEs in the region comment that they have improved efficiency (72% of SMEs cite this benefit, highest in Brazil, followed by 72% in Costa Rica and 69% in Canada). Masu). When it comes to customer service, 52% of small businesses cite it as an advantage, with Colombia leading the way in this category with 62%.
Most small businesses believe that AI’s impact on productivity is positive. Our survey found that 84% of respondents agree that AI will have a positive impact on productivity. Furthermore, the technology increases the productivity of surveyed small and medium-sized enterprises by an average of 40%, indicating that its use is beneficial for small and medium-sized enterprises.
Employees at small and medium-sized businesses are increasingly leveraging AI in their work, and are typically adopting similar frequency strategies to ensure that employees with AI experience are instilled with AI skills. You can see that they are hiring employees and training existing employees.
It is important to highlight that 57% of small businesses surveyed believe their employees are very talented in AI. This may be related to the fact that more than half of the participating SMEs were already implementing some form of AI training. For employees.
The potential of AI for small and medium-sized businesses
As our research shows, AI is proving to be a valuable tool for small and medium-sized businesses, enabling them to increase productivity, improve customer service, and improve the skills of their employees. As its adoption grows, we’ll begin to see even more benefits and different ways to use it to help businesses grow and succeed.
“Artificial intelligence is proven to help businesses of all sizes and industries accomplish more. “We remain committed to democratizing the use of technology so that we can increase productivity, deliver better services and products, and grow powered by technology.” said Jose Gomez Cueto, general manager of small business for the Americas.
Through our AI solutions, Microsoft is well-positioned to help small and medium-sized businesses take advantage of this technology, which has the potential to drive growth now and in the future. If you want to learn more, read this text by Roberto Icasuriaga, Director of Microsoft’s SMB and Native His Digital Enterprises in Latin America and the Caribbean. He analyzes the findings and how AI can benefit his SMB.
