NORTHAMPTON, MA / ACCESSWIRE / May 7, 2024 / GoDaddy
44% of small business owners believe generative artificial intelligence will help them compete with large companies
Originally published on GoDaddy Newsroom
TEMPE, Ariz., May 7, 2024 /3BL/ — Many of America's small businesses are leveraging generative artificial intelligence (GenAI) to grow and compete, and a recent study finds that owners and 50% of business owners say they have tried Gen AI tools in the past few years. A few months. The findings come from Venture Forward, his GoDaddy international research initiative that quantifies the economic impact of small businesses and explores the experiences, challenges and ambitions of their owners.
Venture Forward 2024 US national survey found that 44% of small businesses with 10 or fewer employees, a domain, and an active website agree that GenAI will help them compete with larger companies .
However, the attitudes, long-term goals, and use cases stemming from the use of GenAI vary by demographic group. Key findings include:
- Young people (ages 18-35) and Black small business owners are 50% more likely to have used GenAI in their business in the past few months compared to white owners.
- Approximately 1 in 3 Black and Hispanic-owned small businesses use GenAI in their business, while only 1 in 4 White and Asian-owned small businesses use GenAI in their business. I'm using.
- People who rely on or are experimenting with GenAI for their business use it most frequently for content creation, regardless of race or age. However, Black-owned small businesses are almost twice as likely to use it for customer service compared to white-owned small businesses.
- Gen AI users have a more positive outlook for their business (81%) and the national economy (40%). This is true for people who have used Gen AI in their business. People who have never used GenAI tend to have a more negative outlook for both their business (72%) and the national economy (36%).
Alexandra Rosen, senior director of GoDaddy's Venture Forward research initiative, said, “Generative AI has the potential to help level the playing field as small and medium-sized businesses compete against larger, better-resourced competitors. It shows its sexuality from an early stage.” “We're seeing the most ambitious companies embrace it the quickest.”
Explore our findings and visit: https://www.godaddy.com/ventureforward/2024-us-survey-results/
For more information on the situation of small businesses across the country, please visit the following website: www.godaddy.com/ventureforward.
About GoDaddy Venture Forward
GoDaddy's Venture Forward research initiative analyzes more than 20 million online businesses with a digital presence (as measured by unique domains and active websites). Most of these businesses have fewer than 10 employees and each is classified as a microenterprise. Learn more about GoDaddy's Venture Forward research below. www.godaddy.com/ventureforward
About Go Daddy
GoDaddy (NYSE: GDDY) helps millions of entrepreneurs around the world start, grow, and expand their businesses. People come to GoDaddy to name their ideas, build professional websites, attract customers, sell products and services, and accept payments online and in person. GoDaddy's easy-to-use tools help small business owners manage everything in her one place. Also, a professional guide will provide his 24/7 support. If you would like to learn more about the company, please visit: www.GoDaddy.com.
*GoDaddy customer survey of over 3,500 small business owners, February 2024.
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