“The short answer is, know where to invest. “The number one question I am asked by our customers is ‘How do I ensure the success of my business?’” said Kelly Vincent, VP of Mid-Market Segment and Product at Intuit. The AI payoff: The time saved by automating tasks allows businesses to focus on other key growth areas, and 43% plan to use the time to develop customer relationships and 36% aim to focus on developing more products and services. Operational tasks ripe for disruption by AI: The top five business operations that owners wish to automate are: expense management (69%), invoicing (68%), completing payroll (51%), running financial health reports (47%), and conducting customer communications (30%). ![]() To address these challenges, business owners want solutions that can streamline and automate their operations (38%) and give greater visibility into financial performance (37%).Įssential to their short and long term success, adoption of AI-based tools is top of mind with 35% of small businesses saying they will lack the time to complete important tasks as their business grows.Ĭommon AI investments: The most common AI-based tools small business owners plan to adopt in the next 12 months include solutions for marketing and content creation (34%) and analyzing consumer trends and behaviors (32%), and customer service support (31%). ![]() The survey reveals critical areas where small and larger businesses are planning to invest and the potential growth impact of these investments.Īs businesses grow, managing finances and accounting (39%), lacking time to complete important tasks (35%), and dealing with customer related issues (33%) are the top challenges faced by their owners. (Nasdaq: INTU), the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp. The findings are from a new survey of businesses released today from Intuit Inc. Despite today’s challenging macroeconomic landscape, the majority of businesses (73%) are prioritizing AI, financial technologies, and expanding e-commerce solutions with an average investment of $45,000 to $142,000 in technology tools to help drive growth and success - up an average of $10,000 from 2022. Adjust your data if necessary then select Import.
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