- Intuit Unveils Five New AI Agents to Help SMBs Grow
- 'Daily' tasks are holding many people back, report says
- New tools should help improve the productivity of small and medium-sized businesses
Intuit announced many new Artificial Intelligence Tools and services for small businesses looking to take the next big step forward.
accounting software The giant has unveiled five new artificial intelligence agents on its Intuit platform that it says will transform how small and medium-sized businesses operate, giving them the chance to thrive and grow.
Now available as an all-in-one platform, agents will cover everything from accounting to leads, financial summaries and project management, automating time-consuming tasks and increasing productivity and collaboration across the board.
AI to the rescue
“This is very much a beginning, not an end: We're bringing trusted experts like CPAs and CPAs together in one place to help SMBs run and grow their businesses and ultimately solve more of the mission-critical tasks they need to do to run their company, all in one place,” said Ciaran Quilty, Intuit's senior vice president of global development, at the launch event attended by TechRadar Pro.
The launch comes as Intuit released new research that found many SMBs say they are being held back by fragmented systems or disparate services, leading to serious operational inefficiencies.
The study, which surveyed 3,600 SME executives in the UK, Australia and Canada, found that these businesses could increase revenue growth by 58%, closing the so-called “growth gap” of unrealized potential, equivalent to at least £121,272 in annual revenue for small firms and as much as £416,000 for medium-sized firms.
Much of this inefficiency comes from day-to-day operations: the study found that almost 40% of UK executives are almost always involved in day-to-day operations, and only 5% said they felt confident delegating important decisions, while executives also lose almost a full day of work each week juggling between seven to nine digital systems to keep their business running.
The company believes AI can help unlock this business potential, as 80% of SMB executives say AI can help them delegate more effectively while maintaining control, and 40% say they are already saving 5-8 hours per week through automation.
“Even though businesses are missing out on growth opportunities, the scale of their use of AI is clearly making a difference,” Quilty added.
“There are many ambitions, but the path to implementation is still complicated by everyday complexity. The problem is not the ambition itself, but the systems needed to turn it into progress. When routine work is automated, time and transparency are restored, giving leaders the information and confidence they need to act with conviction.”
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