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.
Introduced in 2022, this nationwide survey and analysis of U.S. small businesses continue to explore the applications of technology used by small businesses and the effects of these trends on enterprises and the economy at large.
How AI Is Changing the Small Business Landscape
The profound emergence of AI in the marketplace has seen heightened interest by small businesses. While small businesses continue to express concern over inflation, the affordability of employee benefits, interest rates, supply chain issues, and the recruitment of skilled talent, the report reveals that technology provides opportunities to save time and money while providing more tailored services to compete with larger companies.
As with previous editions, the U.S. Chamber partnered with Teneo Research to conduct this nationwide survey of U.S. small businesses and explore:
- How small businesses use various technology platforms.
- How the use of technology affects business operations and key business metrics.
- How the adoption of technology sets up small businesses for future success.
- How U.S. small businesses adopt AI.
- How the current and proposed regulatory landscape surrounding issues like AI and data privacy could impact small business benefits of technology.
The results show that various technology platforms have played a critical role in helping small businesses weather challenges, and small businesses that fully embrace technology outperform their peers and are more optimistic about the future.
Companies are also looking at emerging technologies like AI to add to their arsenal of digital tools to compete and expand their business. The report found the following:
- 99% of small businesses use at least one technology platform.
- 40% of small businesses self-identified they use generative AI—nearly double the level from last year (23% in 2023).
- 91% of businesses actively using AI say it will help their business grow in the future.
- 81% of small businesses plan to increase their use of technology platforms.
- 77% of small business owners plan to adopt emerging technologies, including AI and metaverse.
Download the report on this page to learn more.
