A recent Salesforce report reveals that 88% of Australian small and medium businesses (SMBs) utilizing artificial intelligence (AI) have seen an increase in revenue.

In fact, 85% of Australian SMBs are currently experimenting with AI, surpassing the global average of 75%, which highlights their leadership in AI adoption.

The overarching message is clear: for SMBs, adopting AI is not just about staying competitive; it is essential for thriving in a rapidly evolving market.

However, concerns loom large, with 47% of SMBs worried about falling behind in AI adoption, and 79% believing that improving data quality could further enhance their revenue.

Despite their enthusiasm for AI, Australian SMBs face significant hurdles, as 73% report difficulties in keeping pace with technological advancements, and 45% lack the time to master the necessary tools.

Security remains a critical issue for SMBs globally, with 79% of Australian leaders willing to pay a premium for trusted technology vendors.

Adrian Towsey from Salesforce ANZ underscores that companies that embrace AI can achieve a competitive edge through improved operating margins and enhanced customer engagement.

Globally, 78% of growing SMBs intend to increase their AI investments in the upcoming year, indicating a widening gap between those who adopt AI and those who do not.

For Australian SMBs, the key benefits of AI include enhanced revenue, productivity, and customer experience, with popular applications such as content generation, automated chatbots, and personalized recommendations.

The report, which is based on feedback from 3,350 SMB leaders worldwide, including 150 from Australia, emphasizes the significant impact of AI on business operations.

A notable example of successful AI integration is Urban Rest, an Australian flexible accommodation provider, which achieved a staggering 1400% revenue increase and a 40% reduction in field service visits by leveraging Salesforce's AI solutions.