According to Payoneer's SMB Ambitions Barometer, 61% of surveyed small and medium-sized businesses are planning to use artificial intelligence or are already piloting it in their operations within the next two years.
The SMB Ambitions Barometer is born out of Payoneer's passion for supporting and celebrating businesses that have expanded or are looking to grow internationally. It measures and highlights the ambitions and challenges of thousands of entrepreneurs and business owners across 15 countries, including the Philippines.
According to Ligot, AI has two main approaches. Discriminative AI is often used for image or speech recognition. This concentrates on predicting and classifying data, which can be used for fraud detection and risk assessment tasks. When used properly, AI can streamline the workforce in terms of productivity, efficiency, and the thorough development of its output. Businesses can leave laborious and time-consuming tasks like analysis, customer care, and content creation to AI while they focus on expanding and promoting their products and services to a larger market.