The majority of small business owners in the US don't believe artificial intelligence will overtake their profession, according to a GoDaddy report.
The rise in automation and artificial intelligence (AI) has plagued many industries with fears of job elimination. However, small to medium-sized businesses (SMBs) don't have the same concerns: 75% of small business owners are confident their jobs won't be taken by robots, according to a GoDaddy report released on Wednesday.
The report surveyed more than 4,500 small businesses in 10 global markets including the US, Australia, Canada, Germany, Hong Kong, India, Mexico, South Africa, Turkey, and the UK. In the US, specifically, 500 SMBs with 25 or fewer workers were surveyed to determine their attitudes around technology growth.
The majority (70%) of US SMBs are optimistic about their company's future, expecting their business to grow by at least 25% in the next three to five years, the report found. When asked what the biggest benefit of being a small business owner is, the top trait was flexibility - ranking five times higher than the potential to earn more money.
Not only do SMBs not fear the rise of AI and tech, but they are embracing it, the report found. Some 75% of respondents said they handle their own technology needs, whether that is handling the cloud, collaboration tools, or online marketing strategies.
Websites are also fueling confidence in business growth for SMBs, the report found. Some 79% of entrepreneurs with a business website believe they grow by at least 25% in the next few years, compared to 64% of those without an online presence.
Small business owners are most excited about the remote work options tech brings, enabling these entrepreneurs to work from anywhere, the report said. With remote work growing by 159% since 2005, most businesses around the world consider remote work to even be the new norm.