Check this out, folks: 45% of small businesses are all about that AI life, using it to free up time for their core operations
Verizon Business just dropped some knowledge from their fourth annual State of Small Business Survey, done by Morning Consult. They got responses from 681 small and midsize businesses all across the country, and it turns out these businesses are all about that connectivity and exploring new tech like Artificial Intelligence (AI). But as they dive deeper into the tech game, they also got worries about cybersecurity, son.
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Here’s what Aparna Khurjekar, Chief Revenue Officer, Business Markets and SaaS, at Verizon Business had to say: “The fact that nearly half of small and midsize businesses are either using or are aware of the AI-specific use cases that can drive their companies forward highlights what we hear from our customers every day regarding their desire to stay ahead of the pace of change to drive their business forward.” She also mentioned something about Small Business Days, where experts can give you a complimentary tech check and open your mind to all the possibilities. Sounds dope, right?
Check out these mindblowing stats:
- Around 35% of small and midsize businesses think AI can help them deal with labor challenges. They see the potential in using AI to free up time so they can focus on their core business and take care of their customers. In fact, 46% of these businesses are all about using AI to make order processing smoother, while 46% are using it or planning to use it for inventory management and supply chain operations too. That’s some next-level thinking right there.
- But hold up, there are concerns about AI too. Even though more small and midsize businesses are jumping on the AI train, there’s still some skepticism. We’re talking almost half of these businesses, around 45%, are worried about integrating AI solutions. And 43% got real concerns about AI tools exposing them to cybersecurity risks. Safety first, my friends.
- Internet bandwidth upgrades are on the rise. In 2020, a bunch of these small and midsize companies, about 27% of them, said, “Yo, we need to upgrade our internet connection.” Makes sense, right? The pandemic shut everything down, so businesses had to go digital to reach their customers. But even after things started opening back up, these businesses kept upgrading. In 2021, we got 52% upgrading, and we’re looking at 51% in 2022 and 53% in 2023. These stats just show how much these businesses need that digital connection to survive.
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- Cybersecurity ain’t keeping up with the digital world, my friends. A whole lot of these small and midsize businesses ain’t investing enough in cybersecurity, especially compared to how much they’re upgrading their tech. Only a third of them, about 33%, have actually put in new security systems. And get this, almost half of them, 45%, don’t even train their employees on cybersecurity practices. That’s just asking for trouble, folks.
- Inflation is freaking these businesses out. Around 81% of the people surveyed said they’re worried about inflation hitting their business. Costs have been going up for four out of five business owners in the last year. And because of that, 59% of them have raised or plan to raise prices for goods and services. On top of that, 57% have cut or plan to cut spending on non-essential stuff. But despite all these concerns, most owners, like 63% of them, think there will be more demand during the holiday season. Fingers crossed, right?
It’s all about Verizon Small Business Days (October 16-22)
Listen, folks, Small Business Days are back and they’re happening from October 16-22! You know what that means? Special discounts, a free “tech check,” and business advice. If you’re curious about your tech needs, Verizon Small Business Experts got you covered. They’ll hook you up with the perfect solution, whether it’s for communications, connectivity, or security. But that’s not all, they’re even giving a free select 5G Phone if you switch to Verizon with a new line and data plan, no trade-in required. And for wireless internet, you can save a whopping $100/mo if you switch to their LTE Business Internet 50 Mbps plan. Or you can go for the 5G Business Internet 200 Mbps self-setup plan for just $69/month and save $30/mo for 24 months. That’s some serious savings right there, my friends.
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Verizon Small Business Digital Ready
Now, if you want to get your learn on, listen up. Verizon got your back with their free online platform called Verizon Small Business Digital Ready. It’s like a treasure trove of learning, with more than 40 courses for small businesses. And it’s not just some boring stuff, they got mentorship opportunities with industry experts, networking events with other business owners, and even one-to-one coaching. It’s all about leveling up your digital game! And here’s the best part, they made it with small businesses in mind, especially those who need a little extra support. You know why? Because Verizon’s goal is to support 1,000,000 small businesses by 2023 and help them thrive in this digital world. That’s what I call a responsible business plan, my friends. Kudos to Verizon.
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