Running a small business has always been a demanding task, but recent circumstances - from the coronavirus pandemic to the advent of Brexit - have come together to make it more challenging than ever before. An increasing number of SMBs, however, are turning to technologies such as cloud and AI to help address these issues.
This week, we’re joined by Aaron Harris, CTO for UK-based cloud financial software firm Sage, to talk about the state of the UK’s small-business market, the role technology plays in keeping it as resilient as possible, and how SMBs can make the most effective use of their IT.
Highlights
“There has to be this level of trust between small business owners, finance teams, accounting teams, that as they transition more and more of their work to technology, that technology is going to do the work in the right way. That where AI is being used to make decisions, it's making the right decisions.”
“The technology that we are really investing in right now is what we call the digital network. So the idea behind the digital network is that as business workflows digitally transform, it means that software must be designed now not only for the business that executes those workflows, but also for all of the participants in the workflow.”
“Small businesses are expecting technology providers like Sage to help them to make sense of this and to navigate through these times. So we saw, for example, that 44% of SMBs in the UK expect to invest more in technology over the next 12 months than they have previously. So clearly, small businesses see technology as a big part of the solution to all this change.”
Read the full transcript here.
Footnotes
- Five reasons why digital transformation is essential for business growth
- Are we hurtling towards digital transformation burnout?
- The key pillars of a digital transformation strategy
- Even cutting-edge firms need digital transformation
- What are digital workflow solutions?
- How AI can help – and hinder – the supply chain crisis
- What is ethical AI?
- What does it take to launch a successful Fintech startup?
- The metaverse is a waste of time, effort and processing power
- Into the metaverse: Everything we learned from our virtual tour
Subscribe
-
AI is helping bad bots take over the internetNews Automated bot traffic has surpassed human activity for the first time in a decade, according to Imperva
-
Two years on from its Series B round, Hack the Box is targeting further growthNews Hack the Box has grown significantly in the last two years, and it shows no signs of slowing down
-
Four-day weeks and Nadella's AGI skepticismITPro Podcast As the Microsoft chief casts doubt on ultra-advanced AI systems, a famous security blogger has fallen victim to a classic attack
-
Creating space for women in techITPro Podcast Tech's huge gender divide can only be tackled with more welcoming, proactive sectoral efforts
-
What is the EU's AI plan?ITPro Podcast As the EU moves to enable AI innovation, it could end up striking the perfect balance between regulation and public support – especially as US AI laws become more complex
-
The trends we’re watching in 2025AI for security and sovereign cloud could be top driving forces in the coming year
-
The 2024 that didn't happenThese are the megatrends of the year that failed to materialise
-
What DORA means for businessITPro Podcast Stringent requirements for third party monitoring and ongoing resilience testing could help put businesses on the best track for security
-
Can the four-day week work for tech?ITPro Podcast As the four-day week gives Icelandic workers a boost, we also look at whether AI coding is up to scratch – and if OpenAI can keep its funding momentum
-
Unlock the potential of LATAM’s booming crypto marketwhitepaper Strategic pathways for crypto companies looking to expand into Latin America
