Singapore – As artificial intelligence continues to play a key role amongst businesses, a Salesforce survey recently found that around 87% of Singapore’s small and medium-sized businesses leveraging AI have reported notable growth in their revenue.
The report further highlighted that 75% of SMBs worldwide stated they are either experimenting with or have implemented AI, noting its positive impact on revenue, productivity, and customer experience.
About 94% of Singaporean SMBs, likewise, are engaged in adopting or experimenting with AI technologies.
It was further revealed that the top AI use cases include marketing campaign optimisation, automated service chatbots, and lead prioritization. Although 87% of AI-using SMB leaders report revenue gains, approximately 44% fear their companies might fall behind in AI adoption.
Interestingly, the report highlighted that SMBs are struggling with increasing technological complexity. As the number of tech solutions grows and capabilities expand, SMB leaders are also placed under greater pressure to manage their tech stacks effectively.
72% of SMB leaders in Singapore also found it challenging to keep up with evolving technology, while 40% said they lack the time to fully master the tech their company uses. In addition, 92% believe that improving data quality could boost revenue.
Meanwhile, said report underscored the importance of trust in the AI age, particularly as consumer trust is at its lowest in recent years. With this, SMBs in Singapore noted having to prioritise reliable partnerships to efficiently navigate security risks and rapidly changing technology.
80% of SMB leaders then expressed a willingness to spend more on tech from reliable vendors.
The top AI-related concerns for SMBs are security issues, integration difficulties, and the challenge of keeping up with AI’s evolution.
Sujith Abraham, senior vice president and general manager at Salesforce ASEAN, said, “SMBs in Singapore are already seeing clear benefits from AI despite having fewer resources than enterprises, proving that growth and innovation are not limited by size.”
“As AI agents evolve with unprecedented levels of intelligence, they can empower SMBs to build a limitless workforce across business functions,” added Abraham.
