Salesforce Report: 87% of SMBs in Singapore with AI Report Growth in Revenue

Salesforce, the global leader in CRM, has released the new Small & Medium Business Trends report, sharing insights from 3,350 leaders from small and medium-sized businesses (SMBs) across 26 countries — including 50 from Singapore.

The new report highlights how forward-looking SMBs are using AI to drive growth amid the meteoric rise of autonomous AI agents.

Key insights from the research include:

• SMBs Embrace AI. Globally, 75% of SMBs say they are either experimenting with or have implemented AI, citing benefits to revenue, productivity, and customer experience.

• • 94% of SMBs in Singapore are using or experimenting with AI
  • Top 3 SMB use cases for AI in Singapore: Marketing campaign optimisation, automated service chatbots, lead prioritisation
  • 87% of SMB leaders in Singapore with AI say it increases revenue
  • 44% of SMB leaders in Singapore worry their company will be left behind when it comes to AI

• SMBs Grapple with Growing Tech Complexity. As technology offerings multiply and capabilities expand, SMB leaders face mounting pressure to effectively manage their tech stack.

• • 72% of SMB leaders in Singapore say keeping pace with changing technology is challenging
  • 40% of SMB leaders in Singapore say there isn’t time to master all the tech their company uses
  • 92% of SMB leaders in Singapore say improving the quality of their data would increase revenue

• Trust Is Paramount in the AI Age. Consumer trust is at its lowest point in years. SMBs are prioritizing reliable partnerships as they navigate a world of security risks and rapid technological change.

• • 80% of SMB leaders in Singapore would spend more on tech from trusted vendors
  • Top 3 SMB concerns about AI in Singapore: Security concerns, poor integration keeping up with existing technology, difficulty keeping up with AI as it evolves

Salesforce Perspective: 

“SMBs in Singapore are already seeing clear benefits from AI despite having fewer resources than enterprises, proving that growth and innovation are not limited by size. As AI agents evolve with unprecedented levels of intelligence, they can empower SMBs to build a limitless workforce across business functions,” said Sujith Abraham, Senior Vice President and General Manager, Salesforce ASEAN. “Solutions like Agentforce 2.0, the first digital labour platform, levels the playing field for SMBs by giving them access to trusted, rapidly customisable AI agents with pre-built skills – capable of independent, multistep actions to scale their workforce and compete with large enterprises.”

Customer Perspective: 

“As the creator economy continues its rapid growth, with an increasing number of creators entering the space and the complexity of business operations generating a significant volume of administrative tasks, the adoption of Agentforce looks promising in scaling up to meet these evolving business needs. AI-driven solutions have the potential to transform traditionally high-touch human interactions into a hybrid human-AI collaboration. By reimagining workforce dynamics and leveraging AI technologies like Agentforce, we are paving the way for a more labor-efficient, innovative, and sustainable approach to managing growth and complexity,” said Mushi Luke, CIO, HEPMIL Media Group.

Methodology

Salesforce conducted a double-anonymous survey of 3,350 leaders of small and medium-sized businesses between August 3 and September 16, 2024. Respondents were sourced from 26 countries. Additional methodology and survey demographic details can be found in the report.