Embracing AI can be key to driving the entrepreneurship of the future
By Selina Bieber, Vice President for International Markets for GoDaddy
Technology has seamlessly integrated into the daily lives of Saudis, and entrepreneurship is no exception.
Small Saudi companies have eagerly embraced Artificial Intelligence to harness its potential.
According to the 2024 GoDaddy Global Entrepreneurship Survey, 93% of Saudi entrepreneurs express confidence in navigating AI technologies to enhance their businesses.
The implementation this technology can bring multiple benefits and have a tangible positive impact.
The entrepreneurial ecosystem’s willingness to adopt new technologies is clear, ensuring our business environment keeps pace with the rapid advancements in digitalisation.
A forward-thinking mindset and adaptability are crucial in this digital era.
Entrepreneurs face numerous challenges, but it can be easier for them if they invest in AI tools to help streamline their operations.
The survey shows the most compelling reasons for entrepreneurs to invest in AI tools are a positive impact on customer service (45%), potential for increased efficiency (44%), and alignment of business goals and strategy (43%).
Additionally, when it comes to the areas they believe AI could benefit their small business the most Saudis ranked marketing (72%) first, followed by business planning and strategy (52%), and customer service (51%), Digitalisation has significantly enhanced work processes, driving growth despite existing obstacles.
Although the outlook for AI is positive, Saudi entrepreneurs face hurdles such as a lack of awareness about the solutions available (50%), the potential costs (48%) and the lack of understanding how AI can really benefit their small business (46%).
Many of them also believe they do not have enough time to implement these tools (23%).
To address these challenges, there are user-friendly AI tools such as GoDaddy Studio which creates professional-looking content easily and quickly without needing advanced design skills.
A free tool like this one can help entrepreneurs with their marketing efforts for their social media channels, website, customer email communications, and more.
What we can take away from all this data is that small businesses have realised how important it is to go digital, with 87% of Saudis recognizing its significance.
As small businesses embrace AI, growth becomes can become more attainable, ensuring they do not miss the digital transformation wave.
Businesses that constantly innovate can be better equipped to respond to changes in the market and customer needs, ensuring they remain relevant and competitive.
AI-driven innovation can lead to the development of new products and services, opening up additional revenue opportunities.
In conclusion, the embrace of AI and digitalization is not just a trend but a necessity for small businesses in Saudi Arabia.
The ability to adapt and innovate can help determine their success in a rapidly evolving digital landscape. By investing in AI, small businesses can help drive efficiency, enhance customer service, and expand their market reach.
The future of entrepreneurship in Saudi Arabia is undoubtedly digital, and those who embrace this transformation will be well-positioned for success.
