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Australian SMBs Using AI Are Growing Faster – 2024 Report Summary

New Salesforce research shows that AI for small business is fueling strong revenue growth in Australia, with SMBs adopting AI outperforming those that aren’t.

Key Findings:

  • 88% of Australian SMBs using AI say it positively impacts their revenue.
  • 85% of Australian SMBs are experimenting with AI, outpacing the global average of 75%.
  • Growing businesses globally are more likely to invest further in AI (78% plan to increase AI investment) compared to declining businesses (55%).

Top Use Cases for AI Among SMBs:

  • Content generation (marketing and customer communication).
  • Automated service chatbots (improving customer support).
  • Personalised recommendations (enhancing customer experience).

Case Study Highlight – Urban Rest:

By integrating AI into sales, service, marketing, and operations, Urban Rest achieved:

  • 1400% revenue growth over three years.
  • 40% reduction in field service visits.

AI helped them provide 24/7 guest support and a 360-degree customer view.

Challenges Australian SMBs Face:

  • 73% say keeping up with tech changes is challenging.
  • 45% don’t have time to master all technologies they use.
  • 47% fear being left behind in AI adoption.
  • 79% believe better data quality would drive higher revenue.

Key Takeaway:

Australian SMBs that adopt AI early are scaling faster, improving productivity, increasing revenue, and positioning themselves for long-term success. Trust, integration, and smart investment are vital to maximising AI’s potential in the SMB sector.