Small and medium-sized businesses rely on modern technology to power their businesses, empower their employees, and meet customer expectations. In 2024, the hot technology is artificial intelligence.
However, it remains to be seen how small and medium-sized businesses will integrate AI. Just over 1 in 10 (14%) say they currently use AI.3 Meanwhile, nearly half (45%) say they are concerned about integrating AI solutions.Four In 2024, the business functions in which small and medium-sized businesses are already using or considering the most use of AI are:Five
- 50%: Social media/marketing
- 46%: Order processing
- 46%: Data analysis
- 46%: Inventory management and supply chain operations
- 44%: Customer Service/Digital Personal Assistant
Given that AI is so new and untested for most small businesses, why are so many companies planning to implement it in 2024? Follow the money: 43% believe AI can help create new revenue streams, and 35% believe AI will help them run their business regardless of headcount issues due to a booming job market or hiring freezes. Almost half (45%) say it saves them time so they can focus on their core business instead of busy manual tasks.6
To take advantage of this 2024 trend, small businesses can look for use cases that allow them to easily integrate AI into their operations. Social media is a great place to start. More than three in four (77%) say they already use or plan to use social media marketing to increase customer engagement and online traffic.7 AI-powered social media solutions help businesses create content and connect with customers more effectively, helping them achieve their business goals faster.
