Our friends at Pax8, the leading cloud trading marketplace, has released a novel global report in collaboration with Microsoft and Channelnomics on AI purchasing trends in diminutive and medium-sized businesses (SMBs).
Key findings from the report include:
- 88% of diminutive and medium-sized companies have already successfully implemented at least one artificial intelligence system
- 87% say investing in AI promises long-term benefits, and 70% note that AI has helped reduce costs in an increasingly exorbitant business environment
- 49% believe that failure to keep pace with AI implementation puts them at a disadvantage
- 40% cite data privacy/security concerns as a technical challenge to adopting AI
According to IDC, the global artificial intelligence market will exceed $40 billion by the end of the year. Mid-2024 appears to be the beginning of real, sustainable growth.