Recent research conducted by GoDaddy reveals a notable trend among entrepreneurs: a growing number embrace generative AI (GenAI) to drive their small businesses forward. The survey showcases a significant shift towards integrating GenAI into business strategies.
"We're at the beginning of the AI revolution and small businesses are already taking advantage of the technology, which is really unprecedented. Small businesses usually lag big business in getting the most out of cutting-edge tech, but with easy-to-use GenAI and solutions like GoDaddy Airo, the playing field is finally leveling out," said Amy Jennette, senior director of marketing at GoDaddy.
Results indicate a strong belief among entrepreneurs that GenAI offers a competitive advantage, with 75% expecting it to elevate their standing among similar-sized businesses and 68% foreseeing its potential to enhance competitiveness against larger enterprises.
Interestingly, GenAI adoption is on the rise, with 73% of respondents having explored the technology, and 26% actively leveraging it for business purposes. This marks an increase from GoDaddy's previous survey in May 2023, where only 38% had engaged with GenAI, and merely 11% had implemented it in their business operations.
Consistency is key
Satisfaction and consistency in using GenAI remain high among small business operators, holding steady at 78% since 2023. Moreover, there's a notable expansion in how GenAI is applied, extending beyond content creation and marketing to include sales enhancement, as evidenced by 44% of respondents in 2024 compared to 22% in 2023.
Despite ongoing discussions about AI-related concerns, apprehension among small business owners appears low, with only 10% believing GenAI could outperform them in their roles. Furthermore, 89% express confidence in leveraging AI for their business without fearing negative consequences, indicating a rise from 83% in May 2023.
Looking ahead, entrepreneurs remain optimistic, with 47% expressing enthusiasm about the future of their businesses.
GoDaddy Airo
In line with these findings, GoDaddy recently unveiled GoDaddy Airo, an AI-powered solution designed to simplify AI utilization for entrepreneurs. This innovative tool allows users to kickstart or elevate their businesses effortlessly, generating logos, websites, email setups, payment capabilities, social media content, and more in just minutes without requiring any technical expertise.
"Small business owners expect to save more than $4,000 and 300 hours of work this year using generative AI. The best part about this is we're at the tip of the iceberg when it comes to what's possible with GenAI," Jennette said.
To help small business owners, GoDaddy has also unveiled the latest AI-powered "Instant Video" solution, enabling them to become proficient content creators.
