Interest in artificial intelligence (AI) and the potential to use it to gather business insights and unlock productivity gains is almost universal, but many small and medium-sized enterprises (SMEs) are not in a position to take advantage of the technology.
An investigation by data specialist ZenRows into how small businesses currently track market and competitor data has underlined the mountain many users have yet to climb.
The firm’s survey, carried out by 3Gem, revealed that just under half of SMEs are not regularly collecting competitor and market data, despite 89% believing their rivals are using AI tools to be more effective.
The scale of the challenge facing channel partners pitching AI to SME customers becomes more acute when those that are collecting market data share their methods. Almost three-quarters are using spreadsheets to store information, and more than half are generating written documents.
A common theme around AI has been the gap between aspirations to use the technology and the reality on the ground, and that is the case again in the SME market.
“This survey clearly shows a disconnect between the intentions of small business owners and their day-to-day actions,” said Ander Rodriguez, co-founder of ZenRows. “The fact that many are still not regularly tracking markets or competitors, even though they assume their competitors are, points to a ‘head in the sand’ mentality due to feeling overwhelmed. Of those who are collecting this information, the majority are still using relatively static methods such as spreadsheets for storage and access, suggesting that the new information age promised by AI is still some way off for most.”
The pressure on users is not just around adopting AI technology, but also in terms of the capability to understand it. ZenRows discovered that many users are struggling with complexity and setting a coherent brief for data engineers to follow. Despite some poor experiences, the vast majority of those quizzed agreed that business intelligence was worth paying for.
“There is clearly an appetite among smaller businesses to access better information to make smarter business decisions, but it seems many have been badly let down in their previous attempts to do so,” said Rodriguez.
Partners who can work closely with vendors and customers to help bridge the education gap [around AI and data] will be pushing at an open door
Ander Rodriguez, ZenRows
“While vendors and consultants can certainly do a better job of guiding these smaller, less tech-savvy organisations through the complexities of online data, it is also important that SME owners investigate the new opportunities open to them, especially as AI becomes ever more accessible, levelling the playing field dramatically,” he added.
From a channel perspective, Rodriguez said the findings outlined the state of the SME market, making it clear that many would benefit from the support of partners in the design and deployment of AI data systems.
“These findings present a unique opportunity for channel partners as they expose a lack of education in the market when it comes to collecting and understanding competitive data, while at the same time proving there’s a recognition of its value,” he said.
“Those partners who can work closely with vendors and customers to help bridge that education gap will be pushing at an open door,” he added.
