Verizon's annual State of Small Business Survey has found that small businesses are turning to Artificial Intelligence (AI) to survive the current economic climate. The survey was conducted with over 2,000 small business owners and found that over half of the respondents are using AI to increase efficiency and reduce costs. Additionally, the survey found that the majority of small businesses are looking to AI to help them better understand customer needs and preferences. The survey also revealed that small businesses are increasingly looking to AI to help them automate mundane tasks and gain insights into customer behavior.

Small business owners cannot overlook cybersecurity, as a data breach at a small business is likely a catastrophe. Fortunately, there are simple, affordable steps and resources that can help even the smallest business harden its cybersecurity posture. 20 industry leaders from Forbes Technology Council have shared their advice to help small-business owners begin the ongoing work of managing cybersecurity. Tips include prohibiting access to personal apps and non-business sites, using two-factor authentication, and investing in cybersecurity insurance.

A recent study from airSlate, a leader in document workflow automation solutions, has revealed that small and medium-sized businesses (SMBs) are ready to embrace automation and artificial intelligence (AI) to scale and compete in the current business landscape. The survey of 1,000 U.S. SMBs, conducted by Propeller Insights on behalf of airSlate, showed that SMBs are looking for purpose-built and cost-effective tech solutions to optimize their operations. Respondents ranked business productivity solutions, such as document workflow automation and esignature tools, as the most pressing technology needs. The study suggests that investing in the right business technology solutions and streamlining an unwieldy tech stack are essential to an organization becoming more productive.

Businesses of all sizes are preparing for a potential recession or economic slowdown. The possible downturn comes on the heels of three years fueled by pandemic pricing, rising inflation, a tight labor market, supply chain issues, and layoffs. While navigating these issues has been nothing short of extraordinary, maintaining business continuity and propelling growth results from smart business decisions. When business slows down during an economic downturn, smart leaders take this as an opportunity to prepare for the future when business returns to normal. Rather than sitting back or scaling down, companies that survive and thrive do so because they use this time to improve and enhance their business offerings.One key factor in business success is leveraging technology to create efficiencies, support cybersecurity, streamline processes, and improve the customer experience. But how can leaders prioritize tech when their minds are on other aspects of business health and management? By understanding the crucial role of tech in modern society.Whether processing payments, training employees, or sharing information, businesses must understand the importance of technology and how it can help them succeed in the long run.