Forty-four percent of microbusiness owners
believe that generative artificial intelligence will help them
compete with larger businesses
TEMPE,
Ariz., May 7, 2024 /PRNewswire/ -- More U.S.
microbusinesses are using generative artificial intelligence
(GenAI) to grow and compete, with 50% of owners and operators
recently surveyed indicating they have tried Gen AI tools in the
past few months. The findings come from GoDaddy's
international research initiative, Venture Forward, which
quantifies the economic impact of small businesses and explores
their owners' experiences, challenges and ambitions.
The Venture Forward 2024 U.S. National Survey found that 44% of
microbusinesses, which have 10 or fewer employees, a domain and an
active website, agree that GenAI helps them compete with big
businesses.
However, attitudes, long-term goals and use cases that stem from
GenAI usage vary across demographic groups. Key findings
include:
- Young (those aged 18-35) and Black microbusiness owners are 50%
more likely to have used GenAI for their business in the last
several months compared with their white counterparts.
- About one in three Black and Hispanic-owned microbusinesses use
GenAI for business while only one out of every four white- and
Asian-owned microbusinesses use GenAI for business.
- Those relying on or trying GenAI for their business use it most
frequently for content creation, regardless of race or age.
However, Black-owned microbusinesses are almost twice as likely as
white-owned microbusinesses to use it for customer service.
- Gen AI users have a more positive outlook about their business
(81%) and the national economy (40%). This is true for those who
have used Gen AI for business. Those who haven't used GenAI tend to
have a more negative outlook about both their business (72%) and
national economy (36%).
"Generative AI is already showing early potential to help level
the playing field for small businesses as they go up against larger
and often better-resourced competitors," said Alexandra Rosen, senior director of GoDaddy's
Venture Forward research initiative. "We're seeing the most
ambitious ones embrace it the fastest."
Explore the survey results, visit
https://www.godaddy.com/ventureforward/2024-u-s-survey-results/
For more information on the state of microbusinesses across the
country, visit 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 (measured by a
unique domain and an active website). Most of these businesses
employ fewer than ten people, categorizing each as a microbusiness.
To find out more about GoDaddy's Venture Forward research, visit:
www.godaddy.com/ventureforward
About GoDaddy
GoDaddy (NYSE: GDDY) helps millions of entrepreneurs globally
start, grow, and scale their businesses. People come to GoDaddy to
name their idea, build a professional website, attract customers,
sell their products and services, and accept payments online and in
person. GoDaddy's easy-to-use tools help microbusiness owners
manage everything in one place, and its expert guides are available
to provide assistance 24/7. To learn more about the company, visit
www.GoDaddy.com.
*GoDaddy customer survey of more than 3,500 microbusiness
owners conducted in February
2024.
Source: GoDaddy Inc.
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SOURCE GoDaddy