A recent Verizon Business survey reveals a dramatic increase in AI adoption among small and midsize businesses (SMBs) in the United States, with usage more than doubling from 14% to 39% between 2023 and 2024.
Key findings: The fifth annual State of Small Business Survey, conducted by Morning Consult across 621 SMBs, demonstrates significant shifts in technology adoption and business strategies.
- AI implementation has seen substantial growth, with businesses leveraging automation for improved efficiency
- 38% of SMBs added digital components to their operations in the past year
- 66% of businesses upgraded their internet bandwidth to support expanding online presence
Technology integration and digital transformation: Small businesses are rapidly embracing digital tools and platforms to enhance their operations and customer engagement.
- Facebook leads social media adoption at 84% usage among SMBs
- Instagram (67%), LinkedIn (64%), YouTube (64%), TikTok (57%), and X/formerly Twitter (54%) follow as key platforms
- 39% of businesses now maintain social media storefronts
Economic outlook: Despite facing significant challenges, SMBs maintain a cautiously optimistic stance about their future prospects.
- 83% of businesses express concerns about inflation
- 62% worry about financial stability
- More than half anticipate improved financial conditions in coming months
- 52% of brick-and-mortar retailers are preparing for an in-store-first approach during holiday seasons
Support initiatives: Verizon Business is implementing various programs to assist SMBs in their digital transformation journey.
- Free “tech check” consultations offered during Small Business Days (October 14-20)
- Special promotions including free 5G phones for new business customers
- Small Business Digital Ready platform providing free training on AI, marketing, and financial planning
- Program has supported over 360,000 businesses toward a goal of helping one million SMBs by 2030
Future implications: The substantial increase in AI adoption and digital transformation among SMBs signals a fundamental shift in how small businesses operate and compete in the modern marketplace, though questions remain about the long-term impact of these technological investments on business sustainability and market competitiveness.
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