Economy Needs Small Business AI
Economy Needs Small Business AI
Publish Date: 2026-02-12 17:11:00
Source Domain: www.pymnts.com
Certainly! Here are some key points summarized from the content you provided:
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Boost for Canada’s productivity: Bank of Canada Senior Deputy Governor Carolyn Rogers emphasized that broader adoption of artificial intelligence (AI) by small and medium-sized businesses (SMBs) can significantly increase Canada’s productivity.
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Current investment trends: Large firms are currently leading in AI investments, but Rogers noted they are less likely to pass on the savings from AI to consumers in the form of higher wages or lower prices.
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Small businesses catching up: SMBs in the United States are increasingly adopting AI to compete with larger enterprises through automation, talent augmentation, and faster decision-making.
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Popular AI applications in SMBs: According to the Verizon Business’ 2025 State of Small Business Survey, various applications of AI among SMBs include marketing, social media, written communications, and enhancing customer service through digital assistants.
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Reduction in middle management: AI is helping SMBs to decrease their reliance on middle managers, with tasks like generating slide decks, project planning, and collecting feedback previously handled by supervisors.
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Consumer engagement with AI: A PYMNTS Intelligence report showcased increasing consumer integration of AI in daily activities like shopping and financial management, with specific segments becoming “power users” of AI-driven tasks.
If you need further details or have more questions, I recommend visiting the original reports from Bloomberg, PYMNTS, and Verizon Business for comprehensive insights.
