Salesforce (NYSE: CRM), the global leader in CRM, has unveiled its latest Small & Medium Business Trends report, presenting insights from 3,350 leaders of small and medium-sized enterprises (SMEs) across 26 countries — including 50 from Singapore.
The new report underscores how forward-thinking SMEs are leveraging AI to drive growth amid the meteoric rise of autonomous AI agents.
Key insights from the research include:
- SMEs Embrace AI. Globally, 75% of SMEs report that they are either experimenting with or have implemented AI, citing benefits to revenue, productivity, and customer experience.
○ 94% of SMEs in Singapore are using or experimenting with AI.
○ The top three AI use cases for SMBs in Singapore: marketing campaign optimisation, automated service chatbots, and lead prioritisation.
○ 87% of SME leaders in Singapore with AI state that it increases revenue.
○ 44% of SME leaders in Singapore are concerned their company will be left behind in adopting AI. - SMEs Grapple with Growing Tech Complexity. As technological offerings multiply and capabilities expand, SME leaders face increasing pressure to effectively manage their technology stack.
○ 72% of SME leaders in Singapore say keeping pace with changing technology is challenging.
○ 40% of SME leaders in Singapore state there is insufficient time to master all the technology their company uses.
○ 92% of SME leaders in Singapore believe improving the quality of their data would enhance revenue. - Trust Is Paramount in the AI Age. Consumer trust is at its lowest point in years. SMEs are prioritising reliable partnerships as they navigate a world fraught with security risks and rapid technological change.
○ 80% of SME leaders in Singapore would spend more on technology from trusted vendors.
○ The top three concerns of SMEs in Singapore regarding AI: security risks, poor integration with existing technology, and the difficulty of keeping pace with AI advancements.
“SMBs in Singapore are already witnessing significant benefits from AI despite having fewer resources than large enterprises, proving that growth and innovation are not constrained by size.
“As AI agents advance with unprecedented intelligence, they can empower SMBs to create a limitless workforce across various business functions,” said Sujith Abraham, Senior Vice President and General Manager, Salesforce ASEAN.
“Solutions like Agentforce 2.0, the first digital labour platform, level the playing field for SMBs by providing access to trusted, rapidly customisable AI agents with pre-built skills — capable of executing independent, multi-step actions to scale their workforce and compete with large enterprises.”
“As the creator economy continues to grow rapidly, with more creators entering the space and the complexity of business operations generating a significant volume of administrative tasks, the adoption of Agentforce appears promising for scaling up to meet these evolving business needs.
“AI-driven solutions hold the potential to transform traditionally high-touch human interactions into hybrid human-AI collaborations. By reimagining workforce dynamics and leveraging AI technologies such as Agentforce, we are paving the way for a more labour-efficient, innovative, and sustainable approach to managing growth and complexity,” said Mushi Luke, CIO, HEPMIL Media Group.
Salesforce conducted a double-anonymous survey of 3,350 leaders of small and medium-sized businesses between 3 August and 16 September 2024. Respondents were sourced from 26 countries.
