AI Powers 78% of Indian SMBs to Revenue Growth By CIOTechOutlook Team

AI Powers 78% of Indian SMBs to Revenue Growth

CIOTechOutlook Team | Friday, 20 December 2024, 02:30 IST

78% of small and medium-sized enterprises (SMEs) in India that utilize artificial intelligence (AI) have indicated an increase in revenue. The sixth version of the 'Small & Medium Business Trends' report from Salesforce examined 3,350 leaders from SMBs in 26 nations, revealing an increasing propensity among SMBs to implement AI technologies to improve their operations and boost revenue.

The report indicated that 78% of Indian SMBs are either utilizing or testing AI, with automated service chatbots, marketing campaign optimization, and content creation as their three main applications. The report states that 93% of Indian SMBs interviewed indicated that AI has contributed to revenue growth.

"Small businesses are demonstrating that innovation and growth are not limited by size. By leveraging AI-driven technologies such as autonomous agents, SMBs are unlocking efficient ways to scale--delivering personalised customer experiences and optimising back-office operations," said Arun Kumar Parameswaran, managing director--Sales, Salesforce India.

Even with the positive perspective, the report additionally disclosed obstacles encountered by SMB leaders. The report revealed that 41% of participants voiced worries about falling behind in the AI competition, highlighting an urgent need to embrace these technologies.

Furthermore, 60% struggle to keep up with fast-changing technology, and others believe they don't have enough time to learn all the tools their organization uses. Trust continues to be a crucial concern in the era of AI. According to the survey, 91% of Indian SMBs would rather invest in technology from reliable vendors, indicating increasing worries about security and compliance.