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Study reveals 73% of SMBs are ready for AI

The third edition of the ‘Small and Medium Business Trends Report’ by Salesforce has concluded that the SMBs in India scored high in artificial intelligence adoption compared to other countries.

The report was based on the survey conducted by the Harris Poll which included over 2,000 small and medium business owners to understand the impact of technology in this segment.

As per the report, 73 per cent of SMB leaders believe their business is ready for artificial intelligence technology. In fact, 16 per cent of SMB leaders use artificial intelligence technology and 64 per cent of SMB’s use customer relationship management system.

The top three tech priorities of growing SMBs in the report included a CRM software (35%), financial software (34%) and technology services (28%). Along with the ease of use (69%) and a trusted vendor (63%) being the key deciding factors, followed by price, simplicity of maintenance and speed and ease of setup.

Meanwhile, budgetary constraints and not enough use to justify the investment were the top two challenges towards the adoption of new technology which have been highlighted in the ‘Small and Medium Business Trends Report’.