09/15/2024 | Press release | Distributed by Public on 09/16/2024 07:38
The rapid advancement of artificial intelligence (AI) is changing the landscape for small businesses in the U.S. Despite ongoing challenges such as inflation, supply chain disruptions, and talent acquisition, AI has emerged as a crucial tool that empowers small business owners to innovate in a competitive marketplace.
The latest edition of the U.S. Chamber of Commerce's report, Empowering Small Business: The Impact of Technology on U.S. Small Business, explores the significant role AI plays in improving operational efficiency, reducing costs, and enabling small enterprises to offer personalized services rivaling larger corporations. It outlines how AI adoption is reshaping the small business ecosystem and driving economic growth.
Introduced in 2022, this nationwide survey and analysis of U.S. small businesses continue to explore the applications of technology used by small businesses and the effects of these trends on enterprises and the economy at large.
The profound emergence of AI in the marketplace has seen heightened interest by small businesses. While small businesses continue to express concern over inflation, the affordability of employee benefits, interest rates, supply chain issues, and the recruitment of skilled talent, the report reveals that technology provides opportunities to save time and money while providing more tailored services to compete with larger companies.
As with previous editions, the U.S. Chamber partnered with Teneo Research to conduct this nationwide survey of U.S. small businesses and explore:
The results show that various technology platforms have played a critical role in helping small businesses weather challenges, and small businesses that fully embrace technology outperform their peers and are more optimistic about the future.
Companies are also looking at emerging technologies like AI to add to their arsenal of digital tools to compete and expand their business. The report found the following:
Download the report on this page to learn more.