Salesforce, a global leader in customer relationship management, released its new Small & Medium Business Trends report. The study shares insights from 3,350 leaders of small and medium-sized businesses (SMBs) across 26 countries, including 50 from Singapore.
You might find it interesting that SMBs in Singapore are embracing artificial intelligence (AI) at a remarkable rate. According to the report, 94% of SMBs in Singapore are either experimenting with or have implemented AI in their operations. The top three uses of AI among these businesses are marketing campaign optimisation, automated service chatbots, and lead prioritisation.
Moreover, 87% of SMB leaders in Singapore who use AI say it has increased their revenue. However, 44% are concerned that their companies might be left behind when it comes to AI adoption.
Challenges with technology complexity
As technology evolves, you may find it challenging to keep up with the changes. In Singapore, 72% of SMB leaders say that keeping pace with changing technology is difficult. Additionally, 40% mention that there isn’t enough time to master all the technology their company uses. A significant 92% believe that improving the quality of their data would increase revenue.
Importance of trust in the AI era
Trust plays a crucial role in technology adoption. You might be among the 80% of SMB leaders in Singapore who would spend more on technology from trusted vendors. However, there are concerns about AI. The top three concerns among SMBs in Singapore are security issues, poor integration with existing technology, and difficulty keeping up with AI as it evolves.
Sujith Abraham, Senior Vice President and General Manager of Salesforce ASEAN, commented on the findings: “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. Solutions like Agentforce 2.0, the first digital labour platform, levels the playing field for SMBs by giving them access to trusted, rapidly customisable AI agents with pre-built skills – capable of independent, multistep actions to scale their workforce and compete with large enterprises.”
From a customer perspective, Mushi Luke, CIO of HEPMIL Media Group, said: “As the creator economy continues its rapid growth, with an increasing number of creators entering the space and the complexity of business operations generating a significant volume of administrative tasks, the adoption of Agentforce looks promising in scaling up to meet these evolving business needs. AI-driven solutions have the potential to transform traditionally high-touch human interactions into a hybrid human-AI collaboration. By reimagining workforce dynamics and leveraging AI technologies like Agentforce, we are paving the way for a more labour-efficient, innovative, and sustainable approach to managing growth and complexity.”