New Study: Minority-Owned Small Businesses Love Artificial Intelligence Tools

Photos: Facebook WASHINGTON (March 13, 2024) – A new study from the Connected Commerce Council (3C) found that small and medium-sized business (SMB) leaders are rapidly adopting artificial intelligence (AI) tools to ensure their businesses’ productivity and growth. The study also found that SMB leaders regard privacy, trust, and safety as top priorities when it comes to AI tools. 3C commissioned the RXN Group to survey 2,000 SMB leaders across the U.S. The survey found impressive AI adoption rates among SMBs. Almost half (48%) of SMBs already use AI tools, with AI usage higher among minorities (58%) and veterans (64%). AI tools include virtual assistant technologies like Siri and Alexa, generative AI tools like ChatGPT, and digital writing assistant Grammarly. Significantly, the study found that SMB leaders who use AI tools find them highly beneficial. Eighty-two percent of SMB leaders using AI tools say the tools have positively impacted their business, with 81% saying AI will be critical to their business’s success over the next two years. Sixty-three percent of all SMB leaders say AI helps level the playing field for small businesses competing against larger companies. The study also showed that in recent years, a significant majority of SMB...