How AI is Empowering Small Business Growth and Competition

November 05, 2024 at 15:17 PM EST

NEW YORK, Nov. 05, 2024 (GLOBE NEWSWIRE) --

Thanks to AI, small businesses have become powerhouses of efficiency and innovation – leveling the playing field with their bigger competition and driving economic growth. Despite this progress, the majority of small businesses are worried about how government regulations on technology could impact their operations.

The benefits are clear. Businesses leveraging AI report increased efficiency, enhanced customer satisfaction, and remarkable growth.

U.S. Chamber of Commerce’s report, Empowering Small Business: The Impact of Technology on U.S. Small Business, revealed some eye-opening stats:

98% of small businesses are using AI-enabled tools.
40% of small businesses use generative AI—nearly double the level from last year (23% in 2023).
86% of small business owners say that proposed technology regulations would harm their ability to grow.

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.

Small businesses that are all in on adopting AI and other emerging technologies are growing, competing, and achieving success on a larger scale.

For more information, visit USCHAMBER.COM/TECHNOLOGY

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Dante Muccigrosso
Director of Media Integration & Client Reporting
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