- The study finds 96% of SMEs agree that technology could help them achieve new markets
- AI, Digital Marketing and Electronic Commerce offer the greatest opportunities
- High costs and limited budgets highlight the need for deleted barriers
Almost all (96%) of small and medium -sized companies surveyed in a recent study conducted by Shopify Access Technology will help them reach new markets in the next 12 months, but key obstacles prevent them from total success.
As expected, IA tools headed the list, with 43% of seeing it as the most useful for global expansion, but many raised cash concerns.
Currently, high costs and limited budgets (44%) and uncertainty around the ROI (30%) are preventing SMEs from being implemented, while companies backed by larger cash are accelerated with a more test and error approach.
SMEs are more cautious about technology deployment
With larger companies that show that artificial intelligence investments can bring great rewards, one in three (35%) SMB of the United Kingdom is now taking more risks to obtain an advantage in a competitive panorama, with a previous caution that highlights a gap between ambition and execution.
Shopify Head of Northern Europe, Matthias Kleven, said: “SMEs are ready to innovate, but they need clear paths, affordable tools and measurable results to completely compromise.”
Digital marketing tools (38%) and electronic commerce platforms (36%) also emerged as key areas for investment between SMEs in the United Kingdom, with about three in five agreed that their own website allows more personalized marketing strategies (57%) and allows them to build an emotional connection with customers (63%).
What the study does not observe is the type of AI that is most helping SMEs: customer -oriented AI, such as chatbots and personalized marketing, have the potential to create more personalized experiences, but automation and predictive analysis can help companies make more with their data.
Looking towards the future, SMEs could pilot technologies that are no longer using in certain areas to measure the ROI before implementing completely, taking lessons from larger companies that have already made this type of investments.
Shopify is also asking for the elimination of barriers, allowing business owners to more easily access technology that offers value.
