Small businesses increasingly using AI

Small businesses increasingly using AI

More than half of small businesses are already using AI in some form, while a quarter plan to do so in the near future. They were the findings of a survey of 1,000 firms across various sectors and sizes – seven in ten of them small businesses with up to four employees – and three in ten of which have been operating for more than 10 years.

Small businesses play a crucial role in increasing employment rates and maintaining the overall health of the UK economy, as they employ around 16.4 million people, according to the FSB.

Their use of AI is a growing trend, according to ScoreApp, an AI-powered business growth platform which commissioned the study. It followed others  conducted by American ExpressGoDaddy, and Forbes. The authors say these surveys highlight the opportunity for small businesses to leverage AI to improve their marketing, customer service, product and service offerings, operations, cybersecurity and fraud management.

Daniel Priestley, Co-Founder of ScoreApp, (right) said, “We are delighted to see that UK small businesses are embracing AI and using it to grow their businesses. Where some large corporations are stifled with regulation anxiety around the uses of AI, small businesses can be more agile helping them achieve their goals and overcome their challenges.”

CEO Steven Oddy said: “According to the latest statistics from FSB, there were 5.5 million small businesses in the UK at the start of 2022, accounting for 99.9 per cent of the total business population, and 61 per cent of total employment. It’s clear that these small businesses are a vital part of the UK economy, but the survey shows that they are also a valuable source of innovation and creativity.”

SME Publications/ SME XPO 2024